GOLD'N FUTURES
IDENTIFIES
INITIAL
AREA
of
priority
gold
TARGETs
AT
the
HERCULES PROJECT
in northern ontario
VANCOUVER, BC -- (Newsfile
– June 8, 2021) -- InvestorsHub
NewsWire -- Gold'n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company" or "Gold'n Futures") is
pleased to report that the compilation of
historical data
on the Hercules Gold Property
has
identified a large area encompassing several
gold
targets
for exploration and resources
expansion ("Area A"). Area A measures approximately 2,100
metres ("m") long by 800m wide (Area A is depicted below in
Figure
One). Several partially
delineated vein occurrences are contained within
Area A
that
require further mapping, sampling and
diamond drilling. In addition, a significant
zone bearing favorable geological and geophysical characteristics
for gold mineralization is recognized within Area A along the northern contact of
the Elmhurst Intrusive Complex and metavolcanic units.
"We
are particularly
intrigued
that,
so
early in
the data compilation process,
a
substantial target area has been
recognized and
is
made up of
many zones related to
the gold systems at the
Hercules
Gold
Property.
Area
A has
the
potential to
positively
impact the
gold endowment at the Hercules Gold
Property.
Area A has
characteristics that make it clearly a priority for additional
study, including prospecting, mapping, trenching,
sampling
and ultimately drilling,"
commented
Stephen Wilkinson, President and CEO.
The team of geologists
engaged by Gold'n Futures are collecting
and
compiling all available data files with the
intention of assembling a comprehensive database on the extensive
Hercules Gold Property and the
surrounding
area. The compilation of
thousands of files includes historical prospecting,
government mapping and reports, previous exploration programs and
hundreds of assessment files. The
Company
is completing
this data compilation in order to build a single model for
its development of priority targets. Even though the
compilation of
all historical data has not completed, the Company
continues
to identify exciting areas of
investigation on
the Hercules Gold
Property. In particular, the team is
finding many gaps in the historical resource zones
all of
which occur within a small area
amounting to less
than 5% of the Hercules Gold Property.
Area A and
its Target Zones
Area A measures 2,100-metres
in length by 800-metres in width outlining 168-hectares.
Significantly,
Area A captures magnetic high
features (the magnetic high features
are shown as the red shapes
in
Figure
One) recognized
to be associated
with the gold systems at the Hercules Gold
Property. Area A, which encompasses Targets 1
and 3, is defined to
investigate the
closely spaced, stacked relationship
of six known gold zones and the
broader contact zone for its bulk tonnage
potential.
Target
1:
is the
broad hybrid contact zone of the Elmhirst
Lake intrusion and
volcanic
host
units. This contact zone is framing a structural setting
essentially parallel to the Yellow Brick Road and Penelton
gold vein systems. Importantly,
this area has not
been drilled in the past. Map P801, the preliminary
provincial
geological map of Elmhirst Township, shows the approximate location of
this intrusive contact.
However, outcrops of the contact were not
mapped, likely due to a scarcity of exposures. The contact
has good geophysical indicators for gold mineralization
including its
elevated magnetic signature, and the trend of the
intrusive
contact
is also striking
north-west and may be structurally
controlled much like the gold veins system located just to the
south.
Target
3:
comprises
six
mineralized
zones
or veins
which
include
the Marino,
Miron, 7 of 9, Yellow Brick Road, Penelton and Wilkinson Lake gold
zones. The Marino gold zone was intermittently
drilled in the past
and
hosts a
historical
Inferred
resource
estimate of 57,800 tonnes grading 1.73
g/t Au for 3,220 ounces ("oz") of gold. The Wilkinson Lake gold zone
contains a historical
Indicated estimate of 11,860 oz
of
gold contained in
39,900 tonnes grading 6.09 g/t Au and an Inferred resource
17,400 tonnes
grading 7.24 g/t (*see Cautionary
Note). In addition, all of the
Target 3 gold zones are far from delineated by mapping, trenching
or drilling and would benefit from the more comprehensive program
being planned by Gold'n Futures.
Figure
One:Compilation
Map with First Vertical Derivative Magnetic anomaly base map,
showing past drilling, gold vein systems, target zones and
area.
Qualified
Person
The scientific and technical
content of this press release has been prepared, reviewed and
approved by Mr. Walter Hanych, P. Geo., who is a Qualified Person
under NI 43-101 regulations and is a director of the
Company.
About
Gold'n Futures Mineral Corp.
Gold'n Futures Mineral Corp.
(CSE: FUTR) (FSE: G6M) (OTC: GFTRF) is a Canadian based exploration
company advancing its flagship Hercules Gold Project. The
Hercules Gold Project is a well-known high-grade gold project,
located 120 kilometres northeast of Thunder Bay, Ont., in the
townships of Elmhirst and Rickaby, within the Thunder Bay North
Mining District in the heart of the Beardmore – Geraldton gold
mining camp. The Hercules Gold Project lies within an Archean
greenstone belt that extends from the Longlac area in the east to
Lake Nipigon in the west, a distance of about 130 kilometres.
It comprises 475 contiguous claim cells (10,052 ha) of which 95% of
the property is effectively unexplored. To date, the work
completed on the Hercules Gold Project forms an extensive database
including reconnaissance grab samples; channel samples; a variety
of geophysical surveys; and, historical drilling totalling
in the order of 537 holes – all of which is being remodeled for
planning of the 2021 exploration program. The historical
resource estimate (see Cautionary Note) for the Hercules Gold
Project was completed in 2010 and comprised an uncapped Indicated
Resource of 231,800 tonnes
containing
111,450 ounces of gold and an uncapped Inferred Resource of
761,300
tonnes containing 101,050 ounces of
gold.
Gold'n Futures' other
advanced gold asset is the Brady Gold Property that consists of an
advanced project within a 950 ha claim group in the highly
prospective Gander Zone of the central region of
Newfoundland. The Brady's Reid Gold Zone is an
intrusion-hosted deposit that is only partially drill-tested and
remains open on strike and at depth. The historical resource
estimated for Reid Gold Zone in 2011 produced an
Inferred Resource
of 9,750,000 tonnes hosting 173,000 ounces of gold (see the Cautionary
Note).
For more information, please
visit our website at: www.goldnfuturesmineralcorp.com.
For further
information
Stephen Wilkinson,
President and CEO
Email:
contact@goldnfutures.com
The
Canadian Securities Exchange accepts no responsibility for the
adequacy or accuracy of this release.
This news
release may contain forward-looking statements based on assumptions
and judgments of management regarding future events or results.
Such statements are subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially
from those reflected in the forward-looking statements. There is no
assurance the private placement, property option, change of board
or reinstatement of trading referred to above will close on the
terms as stated, or at all. The Company disclaims any intention or
obligation to revise or update such statements.
Cautionary Note: The Company refers to the historical resource
estimates associated with the Hercules Gold Project, the Brady Gold
Property and the Handcamp Property (the "Historical Estimates").
The Historical Estimates are based on prior data and reports
obtained and prepared by previous operators, and information
provided by governmental authorities. A Qualified Person has not
done sufficient work to verify the classification of the mineral
resource estimates in accordance with current CIM categories. The
Company is not treating the historical estimate as a current NI
43-101-compliant mineral resource estimate. Accordingly, this
historical estimate should not be relied upon. Establishing a
current mineral resource estimate on the Hercules Gold
Project,
the Brady Gold Property and the Handcamp Property will require
further evaluation, which the Company and its consultants intend to
complete in due course.
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