Next Phase of Exploration Underway at GoldON’s Slate Falls Gold-Silver Project in Northwestern Ontario High-resolution airborne MAG survey completed
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
Next Phase of Exploration Underway at GoldON’s Slate
Falls Gold-Silver Project in Northwestern Ontario
High-resolution airborne MAG survey completed
VICTORIA, BC April 30th, 2020 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the
“Company”) is pleased to report that the next phase of exploration for the 100% owned Slate Falls
property (the “Property”) has co mmenced with a property-wide ai rborne magnetometer (MAG)
survey.
Prospectair Geosurveys was contra cted to complete the heliborne high-resolution MAG Survey
that included 50 metre flight line spacings for a total of 1,56 3-line kilometres to cover the entire
Property.
The Property is structurally complex with two events of folding ( F 1 a n d F 2 ) a n d a t l e a s t t w o
recognized periods of deformation (D1 and D2). Interpretations of the MAG survey data will aid
in building the overall geological framework for the Property and provide structural interpretation
details which will help vector future exploration to those area s of high merit. The Slate Falls
Deformation Zone has been under- explored and regional magnetic features suggest a more
complex picture with prominent interpreted D2 structures being the focus of known mineralization
to date. There is also recorded gold mineralization hosted within a banded iron formation and the
MAG Survey data will provide key indications on the ground for this important gold mineralization
model.
“We are looking forward to receiving the MAG Survey report,” sa id Mike Romanik President of
GoldON. “Improving our understanding of the structural complexities at Slate Falls will give us a
far better chance of discovering the pathways of the high-grade showings identified across the
Property.”
About the Slate Falls Property:
GoldON owns a 100% interest in the property, subject to a 2% net smelter returns (NSR) royalty.
The 5,656-hectare property is lo cated within the southwestern e xtension of the Meen-Dempster
Greenstone Belt between the Red Lake and Pickle Lake gold camps. Key regional-scale structures
correlate with numerous high-grade gold and silver showings tha t have been identified including
the Carpenter, Fly, FTM, J. Loon, L1, L15, Path, Sanderson and Trail Zones (see map below).
These zones are part of the Slat e Falls Deformation Zone and extend for over 10 kilometres (km)
in strike and 1.5 km in width within the land package (Parker, 1995).
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
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 District, where numerous Au-Ag mineralized zones have
been identified over the 13-km breadth of the property. GoldON has 16,858,432 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”
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.