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GoldON Completes Ni 43-101 Technical Report on its Swayze Exploration Project that Adjoins Iamgold's Multi-Million Ounce Cote Gold Project in Ontario
GoldON Completes Ni 43-101 Technical Report on its Swayze Exploration Project that Adjoins Iam...
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[{"type":"text","content":"\nGoldON Completes Ni 43-101 Technical Report on its Swayze Exploration Project that Adjoins Iamgold's Multi-Million Ounce Cote Gold Project in Ontario\n\nGoldON Completes Ni 43-101 Technical Report on its Swayze Exploration Project that Adjoins Iamgold's Multi-Million Ounce Cote Gold Project in Ontario\nFocus of next phase of exploration will be the NP Claims where a large magnetic low could be indicative of a major alteration system\nVictoria, British Columbia CANADA, May 07, 2013 /FSC/ - GoldON Resources Ltd. (GLD - TSX Venture), (\"GoldON\" or the \"Company\"), is pleased to announce the completion of a National Instrument (NI) 43-101-compliant Technical Report (the \"Report\") on its 100% owned Swayze gold exploration properties (the \"Swayze Project\") that adjoin IAMGOLD's multi-million ounce Cote Gold Project.\nThe Swayze Project 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 Report concludes that priority should be given to systematic exploration of the under explored portion of the Neville-Potier claim block (the \"NP claims\") that lies inside or near the Ridout Deformation Zone (the \"Rideout DZ\", which is generally recognized as the western 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. \nIt is rare to encounter a section along the Larder Lake-Cadillac Break that has not undergone extensive multidisciplinary exploration and drilling campaigns. Even areas with hundreds of meters of Proterozic cover sediments have been drilled. Geological studies have established that both major Breaks extend into the Swayze Belt and that the Ridout DZ is the extension of the Larder Lake-Cadillac Break. GoldON's NP claims cover a 15-kilometer swath along the Ridout DZ and only four drill holes have been completed on this section to date.\nPart of the work in preparing the Report involved compiling and interpreting the airborne geophysical survey data available for the general area of th...