Fully funded drilling program will focus on testing the shear zones where high-grade values up to 861 g/t Au in drill core remain untested
VICTORIA, BC / ACCESSWIRE / November 18, 2019 / GoldON Resources Ltd. (TSXV:GLD) ("GoldON" or the "Company") is pleased to report that diamond drilling is underway on its 100% owned Slate Falls Gold-Silver Project.
Drilling will test the Trail Zone, and the Sanderson Main, East and North zones. A priority target is at the Trail Zone, where limited historical drilling utilizing narrow diameter AX core was very inadequate with poor core recovery and incomplete sampling. In 1966, four shallow drill holes (<30 metres) tested the Trail Zone with all holes intersecting mineralized shear zones but sampling concentrated on quartz veining and many shears were not sampled. Hole 66-11 (drilled by Cochenour Explorations) intersected a 5.06 metre-wide shear zone in which only one sample was taken that returned 861.3 grams per tonne (g/t) Au and 213.9 g/t Ag over 0.2 metres (Hutton, 1966).
Fieldwork by GoldON in 2019 further confirmed the exploration potential of two of the initial drill targets with rock grab samples returning up to 331.76 g/t Au and 3,025 g/t Ag in sample # 251119 from the Trail Zone and up to 41.97 g/t Au and 1,742 g/t Ag in sample # 251150 from the Sanderson Zone (see news releases of June 25 and July 17 complete 2019 sample results).
"We are very excited to be commencing our initial drill program on the Slate Falls Property and would like to acknowledge the contribution of the advisors we've had on the Project including: Perry English; Tim Twomey, P.Geo, who oversaw our initial exploration work; Bob Singh, P.Geo, who oversaw the compilation and interpretation of the historical data; Bruce MacLachlan, P.Geo. (Limited) and Coleman Robertson, BSc, who are our current project managers; and Mike Kilbourne, P.Geo, our Qualified Person," said Michael Romanik president of GoldON. "We would also like to again thank the Slate Falls First Nation for their logistical assistance in making this program happen."
About the Slate Falls Property
Located in Ontario's Patricia Mining Division, the Slate Falls Property (the "Property") lies between the Red Lake and Pickle Lake gold camps within the southwestern extension of the Meen-Dempster Greenstone Belt (see regional map).
Several mineralized gold-silver showings have been identified on the Property including the Carpenter, Fly, FTM, J. Loon, L1, L15, Path, Sanderson and Trail Zones. These zones are part of the Slate Falls Deformation Zone and extend for over 10 kilometres (km) in strike and 1.5 km in width within the Property's boundaries. All zones host high grade Au-Ag mineralization and are related to regional fold axes and structures that provide traps for mineralizing fluid (see property map).
Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
About GoldON Resources Ltd.
GoldON is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Active projects include the West Madsen property in the Red Lake Gold Camp and our flagship Slate Falls project in the Patricia Mining Division where 18 Au-Ag mineralized zones have been identified over the 13-kilometre breadth of the property. GoldON has 15,152,282 shares issued and is fully funded to complete its fall exploration programs.
For additional information: please visit our website at https://goldonresources.com, you can download our latest presentation by clicking here and you can follow us on Twitter at https://twitter.com/GoldONResources.
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GoldON Resources Ltd.