GoldON’s Initial Drill Results Return Smoke but No Fire at Slate Falls Gold-Silver Project in Northwestern Ontario Drilling in 2019 tested two of 18 Au-Ag mineralized zones that have been identified over the 13-km breadth of the property
FOR IMMEDIATE RELEASE
GoldON’s Initial Drill Results Return Smoke but
No Fire at Slate Falls Gold-Silver Project in
Northwestern Ontario
Drilling in 2019 tested two of 18 Au-Ag mineralized zones that have been identified
over the 13-km breadth of the property
VICTORIA, BC, February 25, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) provides an overview of Phase I drill results from its 100% ow ned Slate Falls
Gold-Silver property (the “Property”) located in the Patricia Mining Division between the Red
Lake and Pickle Lake Gold Camps (see regional location map Figure 1).
Numerous Au-Ag mineralized zones have been identified over the 13-kilometre breadth of the
Property (see Figure 2) and the Phase I drilling progr am consisted of 1,006.5 meters in nine drill
holes testing targets at the Trail Zone, and the Sanderson Main, East and North zones (see drill hole
location map Figure 3 and new release of December 3, 2019 for drill target rationale).
Analytical results from the drill program are summarized below.
Hole SF-19-07 was abandoned and re-started as SF-19-07A.
The above intervals are down hole intervals. True widths are not known at this time.
Drill Hole # Target Area From (m) To (m) Width (m) Au (g/t) Ag (g/t)
SF-19-01 Trail 37.72 38.75 1.02 5.13 38.0
SF-19-02 Trail 77.23 77.52 0.29 21.40 15
SF-19-03 Sanderson Main 53.28 53.67 0.39 4.60 31
SF-19-03 Sanderson Main 93.58 93.93 0.35 5.34 99
SF-19-04 Sanderson Main 81.59 82.16 0.57 0.454 4
SF-19-05 Sanderson Main 74.5 75.6 1.10 0.694 24.8
SF-19-06 Sanderson East 69.42 69.66 0.24 78.5 73.7
SF-19-07A Sanderson North 49.13 51.11 1.98 0.171 1.8
SF-19-08 Sanderson Main 131.48 133.0 1.52 0.275 3
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
Drilling beneath the high-grade gold-silver showings (see news releases dated June 25 and July 17,
2019) confirmed the presence of multiple parallel quartz-carbonate biotite enriched shear zones
with appreciable amounts of gold and silver. Every hole interse cted mineralization and extended
mineralization at depth from surface. The drilling also intersected new zones of mineralized shear
previously undetected.
“Although these initial results are disappointing, the high-gra de surface showings at Trail and
Sanderson were too intriguing not to drill test,” said Michael Romanik president of GoldON. “The
Slate Falls project remains geologically complex, with our initial drill program limited to just two
of the known showings within the claim package. We are looking forward to the upcoming field
season and will outline our Phase II exploration plans shortly.”
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 Figure 1). The Fry Lake-Bamaji Lake Deformation Zone passes
through the Property representing first and second order crusta l-scale structures that cut
stratigraphy similar to and contem poraneous with the stratigrap hy that hosts the past-producing
Golden Patricia Gold Mine, which produced 620,000 ounces of gol d at 15 g/t Au between 1988-
1997 and lies 30 kilometres (KM) to the northeast.
Several mineralized gold-silver showings have been identified o n the Property including the
Carpenter, Fly, FTM, J. Loon, L1, L15, Path, Sanderson and Trai l Zones. These zones are part of
the Slate Falls Deformation Zone and extend for over 10 km in s trike and 1.5 km in width within
the Property’s boundaries. All these zones host high grade Au-Ag mineralization and correlate with
key regional scale structures t hat extend onto the northern cla ims added last year. (see Figure 2).
These structures are interpreted as folds and fold axes where gold-silver mineralization appears to
be concentrated. The model of steeply dipping, fold-related gold mineralization is well documented
in other greenstone belts in the area such as the prolific Red Lake Mine.
QA/QC Protocol:
Drill core was logged and sampled in a secure core logging faci lity located in Slate Falls,
Ontario. Core samples (BTW) from the program were cut in half, using a diamond cutting saw,
and were hand-delivered to SGS Canada Inc. in Thunder Bay, Onta rio where they were then
shipped to their Burnaby, BC facility for analysis. SGS Canada is an accredited mineral analysis
laboratory. Primary analytical methods by SGS for Au was GE_FAI313, a 30g Fire Assay with an
ICP-OES finish. Over-limits f or Au beyond 10,000 ppb where then analyzed using method
FAG333, a lead fusion fire assay method with a gravimetric finish. Primary analytical methods for
Ag, Cu, Pb and Zn were analyzed u tilizing SGS method GE_ICP40B, a 33 element 4 acid digest
ICP-OES method. Over-limits on Cu , Pb and Zn were analyzed util izing GE_ICP41Q, while Ag
over-limits were analyzed using FAG333 as described above. Certified reference standards, blanks
and field duplicates totaling 11% of all samples analyzed were routinely inserted into the sample
stream, as part of GoldON’s quality control/quality assurance program (QAQC).
Mike Kilbourne, P. Geo, an indep endent qualified person as defi ned in National Instrument 43-
101, was on-site during the drilling campaign and has reviewed and approved the technical contents
of this news release on behalf of the Company.
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
About GoldON Resources Ltd.
GoldON is an exploration company focused on discovery-stage pro perties located in the prolific
gold mining belts of northwestern Ontario, Canada. Active proje cts include: the West Madsen
property in the Red Lake Gold Camp, an option/JV with Great Bea r Resources; the Bruce Lake
property that adjoins BTU Metals’ Dixie Halo property and their TNT Target; and our flagship
Slate Falls project in the Patricia Mining Division, where 18 A u-Ag mineralized zones have been
identified over the 13-km breadth of the property. GoldON has 1 6,858,432 shares issued and is
fully funded for its initial 2020 exploration programs.
For additional information: 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]
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