GoldON Resources (TSXV:GLD) Begins 2013 Exploration on Swayze Gold Property in Ontario's Abitibi Greenstone Belt - Video Summary on www.investmentpitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, March 14, 2013 - Based on interpretation of
airborne geophysical data, GoldON Resources' (TSXV:GLD) independent geological
consultant has identified a priority area for the next phase of exploration on
the company's 100% owned Swayze Gold Property.
InvestmentPitch.com has produced a "video news alert" which provides a brief
overview of GoldON Resources. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "GoldON" in the search box.
The 6,640 hectare Swayze Project, comprised of three non-contiguous claim
blocks, is located half way between Timmins and Sudbury, Ontario in the Swayze
greenstone belt, which is the southwestern extension of the Abitibi greenstone
belt. These properties either adjoin or are surrounded by Iamgold's multi-
million ounce Cote Gold Project. Iamgold (TSX:IMG) is GoldON's largest
shareholder, holding two million or approximately 10% of the outstanding shares.
The geological interpretation focused on the 6,000 hectare Neville Potier claim
block, and while there were several areas that show good promise in terms of
geology and structure, one area reportedly stood out above the rest as shown on
the Aeromag map. Of particular significance is a major magnetic low that
includes the historical Chester gold operations and the Côté Gold deposit and
extends north into GoldON's Neville Potier claims. This geophysical feature
could be indicative of a major alteration system
Previous drilling on the Chester property encountered anomalous gold and similar
alteration and fracturing as found at the Côté Gold deposit less than 1
kilometre to the south.
Access to the priority area of the Neville Potier claims is excellent year round
with a paved road through the middle of the claims.
The company is arranging an equity financing to further fund the next phase of
exploration on this property and Iamgold has expressed an interest in
participating.
Line cutting and an IP /resistivity geophysical survey will commence shortly.
The results of this survey will be used to identify the highest priority drill
targets.
The company's other property, the 15,500 hectare Pickle Crow Project located in
the Pickle Lake greenstone belt of northwestern Ontario, covers both ends of PC
Gold's Pickle Crow Mine trend and their 1.2 million ounce gold deposit.
GoldON Resources, formerly Newcastle Minerals, now trades under the symbol GLD
(an easy symbol to remember) on the TSX Venture Exchange. Shareholders recently
approved a share consolidation whereby Newcastle shareholder's received one
share of GoldON for every five shares of Newcastle.
The GoldON shares trade at $0.105 and with 20.7 million shares outstanding, the
company is capitalized at $2.1 million.
For more information, please visit their new website at www.goldonresources.com,
or contact the company's President Michael Romanik, at 204-724-0613 or email
info(at)goldonresources.com.
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing short three minute videos based on significant news releases and
research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 14.03.2013 - 21:37 Uhr
Sprache: Deutsch
News-ID 239710
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