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GoldON Commences IP Geophysical Survey Test on its Swayze Exploration Project Adjoining Iamgold's Multi-Million Ounce Cote Gold Project in Ontario
GoldON Commences IP Geophysical Survey Test on its Swayze Exploration Project Adjoining Iamgol...
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[{"type":"text","content":"GoldON Commences IP Geophysical Survey Test on its Swayze Exploration Project Adjoining Iamgold's Multi-Million Ounce Cote Gold Project in OntarioGoldON Commences IP Geophysical Survey Test on its Swayze Exploration Project Adjoining Iamgold's Multi-Million Ounce Cote Gold Project in Ontario\nSurvey covers a target area of the NP Claims near the Ridout Deformation Zone, where a large magnetic low could be indicative of a major alteration system \nVictoria, British Columbia CANADA, June 25, 2013 /FSC/ - GoldON Resources Ltd. (GLD - TSX Venture), (\"GoldON\" or the \"Company\"), is pleased to report that the IP/resistivity geophysical test survey (\"IP Survey\") has commenced on the Company's 100% owned Swayze gold exploration properties (the \"Swayze Project\") adjoining IAMGOLD's multi-million ounce Cote Gold Project. The IP Survey was to be completed in May, but equipment availability and adverse weather delays were beyond the Company's control.\nThe Swayze Property consists of three non-contiguous properties - the Chester, Mollie River and Neville-Potier claim blocks - located approximately halfway between Timmins and Sudbury, Ontario in the Swayze Greenstone Belt. The Swayze Greenstone Belt is the southwest extension of the Abitibi Greenstone Belt. \nThe IP Survey is being carried out as part of a systematic exploration program on an under-explored area of the Neville-Potier claim block (the \"NP Claims\") that lies inside or near the Ridout Deformation Zone, which is generally recognized as the western extension of the Larder Lake-Cadillac Break. The geophysical feature of particular significance in this initial test area is a distinct magnetic low that includes the historical Chester gold operations, IAMGOLD's Cote Gold deposit and extends north into the NP Claims as shown on the Aeromag map on the Swayze Project page of the Company's website at www.goldonresources.com. This feature could be indicative of a major alteration system and the gold mining areas of the Abitibi Belt are characterized by complex structure and widespread alteration. Detailed lithological, structural and alteration mapping is also being conducted over the test area and the combined results will be utilized to define potential drill targets and to refine GoldON's exploration strategy for the Swayze Project in general.  \nThe IP Survey is bei...