The Property Adjoins IAMGOLD’s multi-million ounce Côté Gold Project
Victoria -
GoldON Resources Ltd. (“GoldON” or the “Company”) (TSX-V: GLD) today announced analytical results for the drill hole completed on the Neville-Potier property last fall.
As reported January 14, 2016, a single 210 meter (m) hole (NEV15-11) was drilled to test an in-phase VLF cross-over response that lies immediately north (150m) of a sub-angular altered felsic volcanic float boulder that returned 2.19 g/t Au in previous sampling.
A total of 136 samples were sent for Au FA-AA finish with some for ICP analysis. The gold values encountered were only weakly anomalous (10-63 ppb Au) despite some strong mineralized argillite/carbonaceous/graphitic units alternating with mafic and intermediate volcanic flows. The zone of highest pyrrhotite mineralization is interpreted to be the conductive material identified by the VLF survey. ICP results did not show any significant elemental enrichments associated with only low Zn anomaly associated to one of the carbonaceous zones (0.16% Zn over 5.5m from 115.5m depth).
The property, which remains under explored, covers a 15 kilometer swath along the Ridout Deformation Zone that has been defined as the extension of the Larder Lake-Cadillac Break. All of the major and a host of the secondary gold mines, past and present, in the southern Abitibi Belt are near the Larder Lake-Cadillac Break or its northern equivalent, the Porcupine-Destor Break. Access and infrastructure are excellent, with the property’s southern boundary located approximately 3km north of the Côté Gold Project.
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 is an exploration company geographically focused on two of the prolific gold 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 Swayze gold property adjoining the multi-million ounce Côté Gold Project owned by Trelawney Mining and Exploration, a subsidiary of IAMGOLD Corporation. For more information, visit www.goldonresources.com.
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.
