GoldON Expands Rainy Gold Project in Northwestern Ontario Rainy Gold project adjoins New Gold’s Rainy River Au-Ag Mine project that is scheduled to transition from construction to operation in Q3 2017
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Expands Rainy Gold Project in Northwestern Ontario
Rainy Gold project adjoins New Gold’s Rainy River Au-Ag Mine project that is
scheduled to transition from construction to operation in Q3 2017
VICTORIA, BC, June 8, 2017 – GoldON Resources Ltd. (“Go ldON” or the “Company”)
(TSX-V: GLD) is pleased to announce it has acquired seven unpatented mining claims in the Rainy
River area of Northwestern Ontario. The seven claims will roll into the existing Rainy Gold Project
option agreement originally announced on October 4th, 2016, which includes three non-contiguous
claim blocks (Burditt Lake, Off Lake and Tait).
The new claims are contiguous with GoldON’s existing Burditt Lake Block and adjoin the northern
boundary of New Gold’s Rainy River Mine project property. These claims lay within the contact
zone between a thick mafic volcanic sequenc e and the Sabaskong Batholith. Mineralization
consists of fine to occasionally coarse native gold, one to two percent fine pyrite and lesser
chalcopyrite within deformed quartz veins filli ng fracture-related dilation zones. Gold is most
abundant near and along vein walls, in and around vuggy portions of the veins, and in areas
exhibiting some degree of struct ural complexity or strong anke rite staining. C ountry rock is
essentially unaltered adjacent to most veins, and contacts are generally sharp.
The new claims cover ground previously held by Rainy River Resources through an option with
Western Warrior Resources in 2008. Prospecting by Rainy River Resources focused on sulphide
zones, quartz/quartz-carbonate veins, structur es (shears & faults) and lithological boundaries.
Significant results from this work program included:
1. 10.2 g/t Au, 60.8 g/t Ag with elevated Cu-Pb from a quartz vein;
2. four other samples with gold values between 1.0 -3.0 g/t gold plus, silver values of 1.9-34.5
g/t including anomalous Cu-Pb-Zn;
3. 1.0 g/t Ag, 0.15% Cu, 1.42% Zn with elevated Ni within a shear zone known as the Beven
Showing and;
4. Samples from gabbro outcrops along the logg ing roads north of Manomin Dam bridge and
the Burditt Lake Shaft hosted elevated Ni values.
Rainy River Resources recommended trenching and mapping work programs for the five gold
results mentioned above with the Beven Showing identified as a “drill ready” target.
In addition to the above listed occurrences, the new claims c over the Galbraith “B” & “C” gold
occurrences. Historical work, first by Western Troy Capital Resources in 1991 and then by Kings
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
Bay Gold in 2012, produced assays up to 97.5 g /t from the Galbraith B gold occurrence. Small
veinlets and pods occurring within a few hundred metres of the Galbraith B showing returned gold
values ranging from 0.10 g/t to 3.52 g/t. In 2012, Rainy River Resources spent several days
prospecting the Galbraith showings as part of its region al exploration efforts to identify potential
sources of near surface high grade gold. Rainy River recommended a high density drill program to
test the near surface bulk tonnage potential as the next step in the evaluation of the occurrence.
None of the proposed work programs referenced above, including drill testing of the Beven
Showing and the Galbraith B occurrence, were undertaken by the previous operators and the targets
remain untested.
GoldON’s Rainy Gold project is located within th e Rainy River Greenstone Belt and all three of
the non-contiguous claim blocks adjoin New Gold ’s Rainy River Au-Ag Mine project, which is
scheduled to transition from construction to operation in the third quarter of 2017 (see: New Gold’s
website).
“The ripple effect of New Gold’s Rainy River Mine development has already resulted in significant
economic benefit and exploration interest in the area. Our Rainy Gold Project is right next door,
access and infrastructure are exce llent, and these new claims have added an exciting high-grade
exploration component to the Project, ” said Michael Romanik, President of GoldON.
Andrew Tims, PGeo, an independent qualified pers on as defined in National Instrument 43-101,
has reviewed and approved the 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. Current projects incl ude the Slate Falls gol d-silver property in
northwestern Ontario and the Rainy Gold project which adjoins New Gold’s Rainy River Mine.
Both projects are discovery stage with exploration permits in place. GoldON is listed on the TSX
Venture Exchange, has no debt and under nine m illion shares issued. For further information
contact Michael Romanik and to download the latest corporate presentation click here.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]
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