GoldON Highlights Exploration Opportunity at Slate Falls Gold-Silver Project in Northwestern Ontario 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
FOR IMMEDIATE RELEASE
GoldON Highlights Exploration Opportunity at Slate Falls
Gold-Silver Project in Northwestern Ontario
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, November 5, 2019 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) is pleased to provide an overview of the exploration opportuni ty at its 100%
owned Slate Falls Gold-Silver Project in Ontario’s Patricia Mining Division.
The Slate Falls Property (the “Property”) lies between the Red Lake and Pickle Lake gold camps
in the southwestern extension of the Meen-Dempster Greenstone Belt that is hosted within the Uchi
Subprovince, one of the most metal-endowed Archean greenstone a ssemblages in the world (see
regional map).
Several mineralized showings hav e been identified on the Proper ty including the Carpenter, Fly,
FTM, J. Loon, L1, L15, Path, Sanderson and Trail Zones. All of these zones are part of the Slate
Falls Deformation Zone and extend for over 10 kilometres (km) i n 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 fluids (see property map).
Despite the numerous high-grade gold and silver showings, the P roperty has never undergone
systematic exploration using modern techniques. The limited historical exploration (prospecting,
trenching, sampling and shallow drilling) has been confined to outcroppings and targeted the high-
grade Au-Ag quartz veins. The shear zones that host the high-grade veins on the Property, despite
receiving little attention, have returned assays up to 861 g/t Au (Hutton, 1966) in drilling, and chip
samples of sheared volcanic wall rock (excluding quartz vein) returned 4 g/t Au over 3 metres (m)
from the Trail Zone and 3.1 g/t Au over 2.5 m from the Fly Zone (Zalnieriunas, 1983). These shear
zones represent important targets even if quartz veining is not present.
Limited diamond drilling has also been a very inadequate test o f some of the Property’s Au-Ag
targets. The historical shallow drilling (<30 m vertically) tha t was completed utilized narrow
diameter AX core, poor core recovery was noted, and the incomplete sampling was limited to the
quartz veins with little attention to the adjacent altered wall rock or shear zones. This provides
substantial evidence that much was missed in previous exploration efforts.
A prime example of this is at the Trail Zone. In 1966, four shallow drill holes tested the Trail Zone
with all holes intersecting mineralized shear zones but samplin g concentrated on quartz veining
and many shears were not sampled. Hole 66-11 (drilled by Cochenour Explorations) intersected a
5.06 metre (m) wide shear zone in which only one sample was taken that returned an assay of 861.3
g/t Au and 213.9 g/t Ag over 0.2 m (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).
“The Slate Falls property is an exciting piece of ground and we expect the forthcoming drill
program to be the first of many,” said Michael Romanik presiden t of GoldON. “We are looking
forward to seeing some drill core and starting to understand th e continuity of some of these high-
grade gold and silver bearing structures, both near surface and at depth for the first time.”
Drilling is scheduled to commence in November and will focus on the Trail Zone, and the
Sanderson Main, East and North zones. The objective of this ini tial drilling program is to
substantially improve the merit and geological knowledge to mineralizing controls and confirm the
historical exploration was largely misguided.
Mike Kilbourne, P. Geo, an inde pendent qualified person as defi ned in National Instrument 43-
101, has reviewed and approved the technical contents of this n ews release on behalf of the
Company.
About GoldON Resources Ltd.
GoldON is an exploration compan y 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 Cam p 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 and you can view our latest presentation by
clicking here.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]
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