GoldON Completes Fieldwork at Slate Falls Gold- Silver Project and Updates Geological Model At least six regional scale structures have been identified in the current interpretation; three are associated with historical high-grade gold
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Completes Fieldwork at Slate Falls Gold-
Silver Project and Updates Geological Model
At least six regional scale structures have been identified in the current
interpretation; three are associated with historical high-grade gold
VICTORIA, BC, November 16, 2017 – GoldON Resources Ltd. (“GoldON” or the
“Company”) (TSX-V: GLD) is pleased to announce it has completed fieldwork based on the
conclusions and recommendations from the recent compilation of all historical exploration data
available on the expanded Slate Falls property (see claim map and regional geology Figure 1).
Field work included mapping and pr ospecting of several of the hi storical showings and regional
scale geological mapping along geophysical anoma lies. The field program was successful in
identifying structural relati onships between geophysical anom alies and the distribution and
orientation of rock units.
“We have added numerous new targets with the e xpansion of the property this year, identified
key regional scale structures that have known hi gh grade gold showings along them and gained a
better understanding of the geological model. The model of steeply dipping, fold-related gold
mineralization is well documented in other greenst one belts in the area such as the prolific Red
Lake Mine,” said Michael Romanik, President of GoldON. “The market is once again rewarding
exploration and discovery and we believe our Slat e Falls project has the potential to be a key
driver of value creation for our shareholders in the years ahead.”
Highlights include:
Identified the presence of moderate to steeply dipping rock contacts a nd folded structural
fabrics.
Interpretation of the new structural data suggests that historical showings and gold
mineralization may be linked across the pr operty along geophysical anomalies. The
anomalies are interpreted as folds and fo ld hinges where gold mineralization may be
concentrated (see Figure 2).
At least six regional scale structures have b een identified in the current interpretation;
three of these are associated with historical high grade gold.
Numerous additional target areas on new claims added in September.
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
The Slate Falls property (the “Pr operty”) is located between the Re d Lake and Pickle Lake Gold
Camps in the Patricia Mining Division and covers stratigraphy that is similar to and
contemporaneous with the strati graphy which hosts the past-producing (Sep '88 – Mar '97)
Golden Patricia Gold Mine, 30 kilometres to the northeast.
The Property is composed of mafic metavolcanic rocks deposited in a submarine environment.
The mafic metavolcanics are intruded by gabbroic si lls, mafic to ultramafic intrusive bodies and
felsic quartz-feldspar porphyry dykes and stocks . The felsic North Bamaji Pluton occurs along
the north shore of North Bama ji Lake. The greenstone belt ha s undergone two generations of
regional folding and shearing to form the Bama ji shear zone. The Rockmere-Wesleyan synform
strikes east-west across the length of the Pr operty with an eastwardly plunging fold axis
(Wallace, 1985, GR232). The fold axis of an an tiformal structure strikes northeast from the
central-northern part of the Property near the Sanderson zone. The shear zones which host quartz
veins and sulphide mineralization strike east-west with sub-vertical dips.
The Property is located 5 kilometres (km) northea st of the community of Slate Falls, 90 km west
of Pickle Lake, 120 km north of Sioux Lookout and 160 km east of Red Lake. The community of
Slate Falls is accessible by an a ll-weather road and regionally the area is well traversed by
logging roads and trails. Slate Fall s is also accessible by float- or ski-e quipped plane charters
from Pickle Lake, Sioux Lookout or Red Lake.
R. Bob Singh, 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 Resources Ltd. is an exploration company geographically focused on the prolific mining
belts of Ontario, Canada. All of its properties are in good standing and include the Slate Falls
gold-silver property in northwest ern Ontario and the Rainy Gold project which is next to New
Gold’s Rainy River Mine. To view GoldON’s latest presentation click here . For more
information contact Michael Romanik.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]
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