GoldON Provides Update on Neville-Potier Portion of its Swayze Gold Project
05.02.2015 | FSCwire
The Property Adjoins IAMGOLD’s 7.6 million ounce Côté Gold ProjectVictoria, British Columbia (FSCwire) - GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or the “Company”) announced today results from the recently completed drill program on the Neville-Potier Portion (the “Property”) of its Swayze Gold Project.
The two-hole, 400 meter drill program completed in late November 2014 was designed to test two shallow gold targets developed from the geological mapping, prospecting, and geophysical surveying programs completed on the Property earlier last year:
Drill hole NEV14-09 was designed to undercut the Au-bearing shear-hosted quartz vein – gossan zone discovered from the 2014 mapping program. The drill hole failed to return any anomalous gold values.
Drill hole NEV14-10 was designed to test a zone of elevated chargeability at a location where a mapped lens of feldspar porphyry intrudes the largely mafic volcanic stratigraphy. The drill hole failed to intersect any significant gold values.
The Company is still awaiting assay results from drill core obtained from the geotechnical drilling program completed last fall on the Property by Trelawney Mining and Exploration Inc. (“Trelawney”), a subsidiary of IAMGOLD Corporation. Assay results will be reported once available.
The Neville-Potier property is located in an established gold district and covers a 15 kilometer swath along the Ridout Deformation Zone that has been defined as the extension of the Larder Lake-Cadillac Break. Access and infrastructure are excellent, with the Property’s southern boundary located approximately 3 km north of the Côté Gold Project (NI 43-101 Indicated Resources of 7.6 million gold ounces) owned by Trelawney.
“The Neville-Potier property remains largely underexplored and the exploration work completed last year will enable us to keep the entire 6,000 hectare claim block in good standing into next year”, said GoldON President, Mike Romanik. “We will now focus our attention on the high-grade Slate Falls property and drill testing of the new gold-silver-VMS exploration model we proposed last year.”
Andrew Nevin, Ph.D, P.Eng., and Qualified Person as defined by National Instrument 43-101, has reviewed and approved the information contained in this news release on behalf of the Company.
About GoldON Resources Ltd.
GoldON Resources Ltd. is an exploration company geographically focused on two of the prolific gold mining belts of Ontario, Canada. The Company’s properties include the Slate Falls gold-silver property in northwestern Ontario, and the Swayze gold project adjoining IAMGOLD’s multi-million ounce Côté Gold Project in the Swayze Greenstone Belt. For more information, visit: www.goldonresources.com or view the current GoldON presentation.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
GoldON Resources Ltd.
Direct line: (204) 724-0613
Email: info@goldonresources.com
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.