GoldON Completes Data Compilation and Commences Fieldwork at Slate Falls Au-Ag Property

Numerous geophysical, geochemical and geological indicators associated with at least 18 mineralized zones that have been identified across the ~10km breadth of the property are now being ground-truthed to define an exploration model

VICTORIA, BC, September 21, 2017 – GoldON Resources Ltd. (“GoldON” or the “Company”) (TSX-V: GLD) is pleased to announce it has commenced fieldwork based on the conclusions and recommendations from the recently completed compilation of all historical exploration data available on the expanded Slate Falls property (see claim map and regional geology Figure 1).

The detailed GIS and 3D compilation involved data extraction from various historical assessment reports including: drillhole and surface sample records; numerous trenches, pits and rock sample descriptions; structural data; outcrop locations; and various other data including, contacts, shear zones and geochemical grid locations. Interpretation work included re-analysis of airborne magnetic data with re-gridding of the data and 3D analysis of drillhole and geochemical data in Leapfrog 3D software. 

The recommendations resulting from the interpretation and review of the data include:

Property wide geological mapping and rock sampling to follow up interpreted relationships between fold hinges and historic high-grade rock samples

Collection of detailed structural and alteration data including multi-element analysis of rock samples.

Determine source of geophysical anomalies in particular mapping potential mineralized structures and fold hinges.

Assess potential for drilling better geochemical/geophysical anomalies that the limited historical drilling appears to have not targeted.

“Our data compilation represents the most comprehensive review of the historical exploration work in the Slate Falls area,” said Michael Romanik, President of GoldON. “We are now proceeding with a systematic exploration plan that will lead to prioritizing the mineralized targets and defining an exploration model for the project.”

The Slate Falls property (the “Property”) is located between the Red Lake and Pickle Lake Gold Camps in the Patricia Mining Division and covers stratigraphy that is similar to and contemporaneous with the stratigraphy which hosts the past-producing (Sep'88 - Mar'97) Golden Patricia Gold Mine 30 kilometres to the northeast.

The Property is composed of mafic metavolcanics rocks deposited in a submarine environment. The mafic metavolcanics are intruded by gabbroic sills, mafic to ultramafic intrusive bodies and felsic quartz-feldspar porphyry dykes and stocks. The felsic North Bamaji Pluton occurs along the north shore of North Bamaji Lake. The greenstone belt has undergone two generations of regional folding and shearing to form the Bamaji shear zone. The Rockmere-Wesleyan synform strikes east-west across the length of the Property with an eastwardly plunging fold axis (Wallace, 1985, GR232). The fold axis of an antiformal structure strikes northeast from the central-northern part of the Property near the Sanderson zone. The shear zones which host quartz veins and sulphide mineralization strike east-west with subvertical dips.

The Property is located 5 kilometres (km) northeast of the community of Slate Falls, 90 km west of Pickle Lake, 120 km north of Sioux Lookout and 160 km east of Red Lake. The community of Slate Falls is accessible by an all-weather road and regionally the area is well traversed by logging roads and trails. Slate Falls is also accessible by float- or ski-equipped plane charters from Pickle Lake, Sioux Lookout or Red Lake.  

R. Bob Singh, 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 Resources Ltd. is an exploration company geographically focused on the prolific mining belts of Ontario, Canada. All of its properties are in good standing and include the Slate Falls gold-silver property in northwestern Ontario and the Rainy Gold project which is next to New Gold’s Rainy River Mine. To view GoldON’s latest presentation click here. For more information contact Michael Romanik.

ON BEHALF OF THE BOARD

Signed “Michael Romanik” 

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