# GoldON Prepares to Drill its West Madsen Gold Property, as Gold Price Hits All Time High Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/goldon-prepares-to-drill-its-west-madsen-gold-property-as-gold-price-hits-all-ti--c6ec2106-6025-4674-8bc2-42a034e8c239 Original source: https://money.tmx.com/en/quote/GLD/news/4681808146789634/goldon-prepares-to-drill-its-west-madsen-gold-property-as-gold-price-hits-all-ti Publisher: tmx Original announcement: 2024-05-21T13:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: GoldON Resources - Ticker: GLD - Exchange: TSX - Region: Ontario, Canada - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Drill results, Other - Extracted: 2026-09-14 03:31:23 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary GoldON Resources is preparing for a new phase of exploration drilling at its 100%-owned West Madsen gold property in Ontario's Red Lake District. The program will focus on Block A, utilizing GIS compilation and geophysical re-interpretation to target the Confederation Assemblage. Reasoning: The announcement outlines upcoming exploration planning and drilling phases at the West Madsen property, supported by recent permitting and historical context. - Positive factor: Permit received for exploration drilling - Positive factor: Proximity to high-grade Madsen mine property - Positive factor: Historical drill results mentioned \(14 g/t Au and 195m anomalous zone\) - Positive factor: Strategic location in Red Lake Gold District Facts used in scoring: 2 ## Classification and evidence **Nearology Play** Polarity: neutral Story-specific tag Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The project is positioned adjacent to the high-grade Madsen mine property. Evidence · text > Block A adjoins the Madsen mine property acquired last year by West Red Lake Gold Mines \(WRLG\). ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Drill Results (2) ### WM-21-22 [Link to this fact](https://atlas-extractions.minestarters.com/news/goldon-prepares-to-drill-its-west-madsen-gold-property-as-gold-price-hits-all-ti--c6ec2106-6025-4674-8bc2-42a034e8c239#fact-drill-facts-0) West Madsen · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: WM-21-22 - Project: West Madsen - Commodity: gold - Region: canada\_on - Reported Region: canada\_on - Ticker: GLD #### Geometry - Intercept: 195 m #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-01-01T00:00:00.000Z #### Dates - Event date: 2024-05-21T00:00:00.000Z Reasoning: Historical intercept reported as a widespread zone of anomalous gold. - Positive factor: Widespread zone of anomalous gold Evidence · text > We plan to follow up on drill hole WM-21-22 which hit a widespread zone of anomalous gold over 195 meters . #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/goldon-prepares-to-drill-its-west-madsen-gold-property-as-gold-price-hits-all-ti--c6ec2106-6025-4674-8bc2-42a034e8c239#fact-drill-facts-1) West Madsen · gold Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: West Madsen - Commodity: gold - Region: canada\_on - Reported Region: canada\_on - Ticker: GLD #### Geometry - Grade: 14 - Grade Unit: g/t - Intercept: 0.5 m #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2020-01-01T00:00:00.000Z #### Dates - Event date: 2024-05-21T00:00:00.000Z Reasoning: High-grade historical intercept mentioned in prose. - Positive factor: High-grade intercept Evidence · text > In the first phase , we hit 14 grams/tonne gold over half a meter . #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.