GoldON Receives MAG Survey Results and Hires Orix Geoscience for Project Data Interpretation at Slate Falls Gold-Silver Property New high-resolution airborne MAG survey reveals prominent structural features throughout the Property
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Receives MAG Survey Results and Hires
Orix Geoscience for Project Data Interpretation at
Slate Falls Gold-Silver Property
New high-resolution airborne MAG survey reveals prominent structural features
throughout the Property
VICTORIA, BC May 28, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to provide an update on the exploration status of i ts 100% owned Slate
Falls gold-silver property (the “Property”) located in the Patricia Mining Division of northwestern
Ontario. The 5,656-hectare Property lies within the southwestern extension of the Meen-Dempster
Greenstone Belt between the Red Lake and Pickle Lake gold camps (see Figure 1).
GoldON hired Prospectair Geosurve ys to complete a heliborne hig h-resolution magnetic (MAG)
survey to cover the Property that included 50-metre flight line spacings for a total of 1,247-line
kilometres (km). The final report detailing the results of the MAG survey has been received and
the data reveals prominent stru ctural features exist throughout the Property. The image below
(Figure 4) illustrates the significant difference in structural detail between the historical MAG data
on the left ( Figure 2) and the new MAG data on the right ( Figure 3). This new high-resolution
information will aid in reinterpreting the various lithologies and give a far better understanding of
the intricate structure, folding, shearing and faulting that has been mapped on the Property.
Figure 4 – Includes overlays of historical data and preliminary interpreted fold axis and limbs
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
While GoldON’s primary focus to date has been on the numerous h istorical high-grade gold and
silver showings that are part of the Slate Falls Deformation Zo ne, the MAG survey results
accentuate the potential for the Property to host other styles of mineralization including:
1) Magmatic copper, nickel, platinum-group elements mineralization within previously
unrecognized bodies of differentiated gabbroic rocks (Dinel and Pettigrew, 2008).
2) Banded iron formation hosted gold mineralization.
3) Lode gold mineralization related to D2 structures.
4) Felsic intrusive related gold mineralization.
5) Base metal mineralization.
To prepare for the 2020 field season, GoldON has hired Orix Geoscience to do a compilation and
reinterpretation of all available historical data on the Property. This will include incorporating the
new MAG survey data with all known lithological and mineralogic al information and known
structural measurements to build a comprehensive structural and geological map that will vector
fieldwork towards those areas of highest merit for exploration.
“Our team is excited about the i nitial interpretations from the MAG survey that underscores the
potential for the Slate Falls Property to host other styles of mineralization beyond the known gold
and silver showings,” said Mike Romanik President of GoldON. “W e look forward to receiving
the recommendations from Orix that will direct our upcoming fieldwork. The goal is to define next
stage drill targets on the Property.”
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 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 the 100% owned
Slate Falls project in the Patricia Mining Division, where numerous Au-Ag mineralized zones have
been identified over the 13-km breadth of the property. GoldON has 17,208,432 shares issued, all
our properties are in good standing and we are fully funded for our 2020 exploration programs.
Additional information is available on 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]
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
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