Selected Rock Grab Samples Assay up to 331.76 g/t Gold and 3,025 g/t Silver at GoldON’s 100% Owned Slate Falls Project

Project is Fully Permitted and Multiple Targets are Being Prioritized for Drilling

VICTORIA, BC / ACCESSWIRE / June 25, 2019 /GoldON Resources Ltd. (“GoldON” or the “Company”) (TSX-V: GLD) is pleased to report the first batch of assay results from the 2019 sampling program on its 100% owned Slate Falls Slate Falls Gold-Silver Property (see location map Figure 1).

Prospecting, sampling and reconnaissance mapping was carried out at several locations on the Property including the historical Trail, Sanderson, Sanderson East and Sanderson North zones. This first batch of results is from 10 of the 99 rock grab samples collected and sent for gold (Au), silver (Ag) and multi-element analysis (see sample locations Figure 2).

Note: the reader is cautioned that grab rock samples and their respective photographs are selective by nature and may not represent the true grade or style of mineralization across the Property.

Rock Sample
#
Au
g/t
Ag
g/t
Rock Description
Please click thumbnail to view image in full size.
251114
112.82
933
Trail Zone: 5cm white-grey, locally recrystallized, locally smoky quartz vein. 1% pyrite/chalcopyrite, 1% euhedral galena, 0.5% sphalerite. Some malachite staining (see high-resolution photo of sample).
251115
267.11
2,119
Trail Zone: 3-4cm, locally sugary, locally recrystallized quartz vein. 2-3% pyrite/chalcopyrite, 1-2% euhedral galena, 0.5% sphalerite (see photo).
251118
106.10
1,064
Trail Zone: white-grey, recrystallized, rusty quartz vein with 3-4% euhedral galena 0.5% subhedral-euhedral pyrite, 0.5% sphalerite (see photo).
251119
331.76
3,025
Trail Zone: white, recrystallized quartz vein with 2-3% galena as up to 2-3mm cubes, 1% subhedral pyrite, trace sphalerite (see photo).
251127
0.22
13
Sanderson Zone: 15 by 10 by 25cm quartz block. Sugary, white-grey, minor rust, 0.5% pyrite, trace chalcopyrite (see photo).
251132
3.23
314
Sanderson Zone: rusty, sugary, grey-white quartz vein. 0.5% pyrite, 0.5% chalcopyrite, trace galena, trace malachite, minor ankerite (see photo).
251146
41.97
1,742
Sanderson Zone: rusty quartz vein near old channel sample. 10% galena, 2-3% pyrite. Possible minor ankerite (see photo).
251150
17.09
1535
Sanderson Zone: glassy, white quartz vein. Moderate rust, possible minor ankerite. 30-40% fine galena, 1-2% pyrite (see photo).
251157
3.13
236
Sanderson Zone: 1m east of previous, same vein. Glassy, white, 3-4% galena, 2-3% chalcopyrite, 2-3% pyrite (see photo).
251178
10.14
123
Sanderson East Zone: 7.5cm quartz vein in rusty shear at 074 degrees with subvertical dip, possible slight S bias. Glassy, white, minor rust, 2-3% chalcopyrite, 2-3% sphalerite, 0.5% coppery, metallic mineral, a bit pinkish at first glance (looks similar to native Cu) (see photo).

Four rock grab samples (251114, 251115, 251118 & 251119) were collected from the Trail Zone, where stripping from west to east was observed over approximately 90 metres along strike. Approximately 1.05 kilometres northeast of the Trail Zone, five rock grab samples (251127, 251132, 251146, 251150 & 251157) were collected from the Sanderson Main Zone where stripping from west to east was observed over approximately 225 metres along strike. The tenth grab sample (251178) was collected at the Sanderson East Zone, which is located approximately 270 metres east of the eastern end of the Sanderson Main Zone.

Two of the ten samples (251146 & 251150) returned over limit copper (Cu) grades of 2.66% and 2.81%, two of the ten samples (251115 & 251150) returned over limit zinc (Zn) grades of 1.54% and 1.72% and seven of the ten samples (251146, 251132, 251114, 251115, 251150, 251118 & 251119) returned over limit lead (Pb) grades of 1.06%, 1.14%, 1.73%, 1.76%, 2.61%, 4.97% and 8.95%. While chalcopyrite was observed in several of the samples, it does not explain the highly anomalous copper grades. Tetrahedrite, a copper antimony (Sb) sulfosalt, is mentioned in some of the historical reports on the property and is likely the reason for the high copper grades based on elevated Sb in the trace element results.

All four samples collected at the Trail Zone correlate very well with over limit gold, silver and lead and one sample with over limit zinc. At the Sanderson Main Zone, two of the over limit gold samples also returned over limit copper, lead, and silver grades.

“These initial sample results are very encouraging, but we’ve only scratched the surface in our effort to prioritize targets for the upcoming drilling program,” said Michael Romanik, president of GoldON. “Additional sample results will be reported as they are received.”

The Slate Falls Property is located in the Meen-Dempster Greenstone Belt between the Red Lake and Pickle Lake Gold Camps. The Fry Lake-Bamaji Lake Deformation Zone passes through the Property representing first and second order crustal-scale structures that cut stratigraphy that is similar to and contemporaneous with the stratigraphy that hosts the past-producing Golden Patricia Gold Mine, which produced 620,000 ounces of gold at 15 g/t Au between 1988-1997 and lies 30 kilometres to the northeast.

QA/QC Protocol:

Rock grab samples were personally collected by Bruce MacLachlan, P.Geo. (Limited), secured with zip ties and remained in his custody until personally delivered to SGS Laboratories in Thunder Bay, Ontario for sample preparation. Analyses was performed at SGS Laboratories in Burnaby, British Columbia. Primary analytical methods by SGS for Au was GE_FAI313, a 30g Fire Assay with an ICP-OES finish. Over-limits for Au beyond 10,000 ppb where then analyzed using method FAG333, a lead fusion fire assay method with a gravimetric finish. Primary analytical methods for Ag, Cu, Pb and Zn were analyzed utilizing SGS method GE_ICP40B, a 33 element 4 acid digest ICP-OES method. Over-limits on Cu, Pb and Zn were analyzed utilizing GE_ICP41Q, while Ag over-limits were analyzed using FAG333 as described above. SGS Laboratories practices stringent Quality Control Protocols with an insertion frequency of 14% for exploration and ore grade samples which includes sample reduction blanks and duplicates, method blanks, weighted pulp replicates and reference materials. There were no QA/QC failures in the above sample batch.

Mike Kilbourne, 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 is an exploration company focused on discovery-stage properties located in the prolific gold mining belts of northwestern Ontario, Canada. Active projects include the West Madsen property in the Red Lake Gold Camp and our flagship Slate Falls project in the Patricia Mining Division where 18 Au-Ag mineralized zones have been identified over the 11-kilometre breadth of the property. GoldON has 13,834,782 shares issued and is fully funded to complete its summer work programs.

For additional information please visit our website and view our latest presentation by clicking here or contact Michael Romanik.

ON BEHALF OF THE BOARD

Signed “Michael Romanik”

Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]

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SOURCE: GoldON Resources Ltd.

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