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GoldON Completes Fieldwork at Slate Falls Gold-Silver Project and Updates Geological Model
Victoria, British Columbia (FSCwire) - GoldON Resources Ltd. (“GoldON” or the “Company”) (TSX-V: GLD) is pleased to announce it has completed fieldwork based on
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"Victoria, British Columbia (FSCwire) - GoldON Resources Ltd. (“GoldON” or the “Company”) (TSX-V: GLD) is pleased to announce it has completed fieldwork based on the conclusions and recommendations from the recent compilation of all historical exploration data available on the expanded Slate Falls property (see claim map and regional geology Figure 1). Field work included mapping and prospecting of several of the historical showings and regional scale geological mapping along geophysical anomalies. The field program was successful in identifying structural relationships between geophysical anomalies and the distribution and orientation of rock units. “We have added numerous new targets with the expansion of the property this year, identified key regional scale structures that have known high grade gold showings along them and gained a better understanding of the geological model. The model of steeply dipping, fold-related gold mineralization is well documented in other greenstone belts in the area such as the prolific Red Lake Mine,” said Michael Romanik, President of GoldON. “The market is once again rewarding exploration and discovery and we believe our Slate Falls project has the potential to be a key driver of value creation for our shareholders in the years ahead.” Highlights include: Identified the presence of moderate to steeply dipping rock contacts and folded structural fabrics. Interpretation of the new structural data suggests that historical showings and gold mineralization may be linked across the property along geophysical anomalies. The anomalies are interpreted as folds and fold hinges where gold mineralization may be concentrated (see Figure 2). At least six regional scale structures have been identified in the current interpretation; three of these are associated with historical high grade gold. Numerous additional target areas on new claims added in September. 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 metavolcanic rocks deposited in a submarine environment. The mafic m...