GOLDON RESOURCES LTD.
[GLD-TSXV]
Market Capitalization............ $1,285,662
Shares Outstanding............... 25,713,239
52-week high-low..............$0.12-$0.045
Commodity........................................gold
President/CEO.............. Michael Romanik
Region.......................................... Ontario
GoldON Resources Ltd. has two projects in
northern Ontario, including the 15,500-hectare Pickle Lake gold property and the
6,640-hectare Swayze property adjoining
IAMGOLD's 8 million-ounce Côté gold project
in the Swayze greenstone belt. IAMGOLD
Corp. [IMG-TSX; IAG-NYSE] owns ~13.6%
of GoldON shares that it acquired via private placement. In March, GoldON changed
its name from Newcastle Mineral and began
trading on a post-consolidated basis (5:1).
Funds raised by a recent IAMGOLD private
placement will be used to explore GoldON's
100%-owned Swayze gold property.
The Swayze property comprises three noncontiguous properties (Chester, Mollie River
and Neville-Potier claim blocks) situated about
halfway between Timmins and Sudbury. The
Swayze greenstone belt is the southwest extension of the prolific Abitibi greenstone belt.
GoldON recently had independent consultants MPH Consulting Ltd. prepare a
NI 43-101 compliant technical report on
the Swayze Project that identified prospective areas on the claim blocks which have
been targeted for immediate exploration.
Meanwhile IAMGOLD is proceeding with its
development plan for the Côté gold project.
Interpretation of airborne geophysical
data has identified a priority area for exploration on the Neville-Potier claim block.
Line cutting and an induced polarization
geophysical survey are being carried out.
Results of the survey will be used to identify the highest priority drill targets.
The Neville-Potier claim block borders
the Côté gold property to the north, south
and west. These claims cover a 15-km swath
along the Ridout deformation break which
has been established as the southwestern
extension of the Larder Lake-Cadillac break
in the Swayze – southern Abitibi belt.
22 www.resourceworld.com
JULY 2013
