GoldON Receives Geological and Structural Study on 100% Owned Slate Falls Gold-Silver Property Property is structurally complex with three events of folding (F1, F2 and F3) and three periods of deformation (D1, D2 and D3)
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Receives Geological and Structural Study on
100% Owned Slate Falls Gold-Silver Property
Property is structurally complex with three events of folding (F1, F2 and F3) and
three periods of deformation (D1, D2 and D3)
VICTORIA, BC August 13 th, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) is pleased to provide an overview of the geological data compi lation and
reinterpretation study completed on its 100% owned Slate Falls gold-silver property (the
“Property”) by Orix Geoscience. The 5,656-hectare Property is l ocated in the Patricia Mining
Division of northwestern Ontario and lies within the southwestern extension of the Meen-Dempster
Greenstone Belt between the Red Lake and Pickle Lake gold camps (see Figure 1).
Figure 1 – The Uchi Subprovince is host to several multi-million-ounce gold deposits (click on image to enlarge)
The Property has seen sporadic exploration starting in the 1920 s after the gold discoveries at Red
Lake and Pickle Lake. To date, GoldON has focused its explorati on efforts on a few of the
Property’s historical high-grad e gold and silver showings. High lights of the latest work include
mapping and sampling that returned up to 331.76 grams per tonne (g/t) Au and 3,025 g/t Ag from
grab sampling of the shear-hosted polymetallic quartz veins at the Trail and Sanderson Zones (see
news release of June 25, 2019). This was followed by an eight-hole diamond drilling program to
further investigate the Au-Ag mineralization at the Trail and Sanderson Zones where the best result
was a narrow interval of 78.5 g/t Au and 73.7 g/t Ag over 0.24 metres at Sanderson East (see news
release of February 25, 2020).
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
Subsequent to the drilling program, it was decided to take a broader more detailed look at the entire
Property to gain a better understanding of the intricate structure, folding, shearing and faulting that
has been mapped. Prospectair Geosurveys was hired to complete a new high-resolution heliborne
magnetic survey, and Orix Geoscience has now completed a structural study incorporating the 2020
MAG survey data with all known lithological and mineralogical i nformation and structural
measurements. The result of the Orix study is a far better unde rstanding of the geological and
structural framework of the Property that is acutely demonstrated in the comparison of maps from
the Dinel & Pettigrew study of 2008 and the Orix study (see Figure 2).
Figure 2 – Comparison of Slate Falls property geology interpretation in 2008 (left) versus 2020 (right)
Results of the data compilation and reinterpretation study are as follows:
1. A vastly improved geological map that has turned a ‘sea of green’ into a concise stratigraphic
and folded layering of various volcanic, ultra-mafic and felsic intrusive lithologies.
2. Extension of the greenstone belt into previously interpreted bounding felsic intrusive plutons.
3. Three deformational events (D1, D2 and D3).
4. Late syn- to post D3 structures.
5. Increased knowledge in the relationship between structure and known mineralization.
Many important mineralized zones are in/or proximal to either m ajor early D2 generally dextral
east-west shear zones or splays. Similarly, the intersection of late D3 north nor theast striking
structures with early D2 east-west structures appears to contro l the mineralized zones structurally
by creating or enhancing dilatational sites. Areas along the strike of the major shear zones as well
as fault intersections are key potential target areas for future exploration.
The results of the Orix study are being incorporated into an in dependent Technical Report that is
being prepared in accordance with National Instrument 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”).
“Integrating the structural complexities with the known occurre nces is key to understanding the
mineralizing controls at Slate Falls and vital to our discovery success,” said Mike Romanik
President of GoldON. “This new interpretation will enhance our exploration strategies and aid
greatly in vectoring our efforts to those areas of highest merit.”
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
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 compan y focused on discovery-stage pro perties located in the prolific
gold mining belts of northwestern Ontario, Canada. Our current project portfolio includes four
properties in the Red Lake Mining Division (West Madsen, Pipestone Bay, McDonough and Bruce
Lake) and a fifth property in the Patricia Mining Division (Sla te Falls). If you are an investor
looking for exposure to the rising gold price, then GoldON is an explorer worthy of a closer look:
tight share structure with a $10 million market cap, discovery- stage projects all in good standing,
experienced management and adviso rs, and no debt with capital d evoted to exploration not
excessive salaries.
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.