Gold’n Futures Signs MOU With First Nations & Receives Work Permit For The Hercules Gold Project Near Geraldton, Ontario
November 23 2021 - 11:08AM
Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE:
G6M), (OTC: GFTRF) (the "
Company” or
“
Gold’n Futures”) reports it has signed a
Memorandum of Understanding (“
MOU”) with the three
local Anishinaabe First Nations respecting the Hercules Gold
Project. The First Nations that are party to the MOU are Animbiigoo
Zaagi’igan Anishinaabek (“
AZA”), Bingwi Neyaashi
Anishinaabek (“
BNA”) and Biinjitiwaabik Zaaging
Anishinaabek (“
BZA”). As the Hercules project lies
within their traditional territories, the First Nations are
important stakeholders in Hercules project and its exploration
programs. The Company, AZA, BNA and BZA are collectively referred
to as the “
Parties”.
“The discussions,
emails and document exchanges between the representatives of the
local Indigenous communities and Gold’n Futures have resulted in
founding a new, respectful relationship. Certainly, the evolving
spirit of co-operation will be exceedingly beneficial to all of the
Parties. We have also started planning our next co-operative
undertakings comprising adoption of Environmental, Social and
Governance policies for the Company and establishing the lines of
communication to ensure Gold’n Futures operations are sustainable
and environmentally responsible.”
Commented, Stephen
Wilkinson, President and CEO
The MOU sets out a communication protocol
between the Parties, establishes a framework for the relationship
between the Parties and charts a negotiating path for a pending
Exploration Agreement. In addition, the MOU marks the completion of
the very important review and approval of Gold’n Futures’
exploration permit, allowing the Ontario Ministry of Northern
Development and Mines Natural Resources and Forestry, Mineral
Development Branch (NDMNRF) to issue the work permit. The immediate
next step will be the commencement of negotiations towards
executing the Exploration Agreement between Gold’n Futures and the
First Nation communities.
Hercules Exploration Program &
Permit Update
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX:
SPOFF) (“GoldSpot”) had its geophysical team on
the Hercules property starting on October 20th, 2021. During the
first two weeks of November, GoldSpot completed its proprietary
airborne geophysical surveys utilizing its Multi-Parameter Airborne
Survey System (“M-PASS”) with Triaxial Magnetic
Gradiometer and Very Low Frequency Electromagnetic (VLF-EM)
Platform. The airborne surveys covered the entire 109 square
kilometres of the Hercules property, flying approximately 1,200
line-kilometres with 100-metre line spacing. The Company
anticipates GoldSpot will be delivering its preliminary findings of
the airborne geophysical surveys in December, 2021. In addition,
GoldSpot will use its artificial intelligence algorithms to
reinterpret the Hercules property’s structural geology, resource
geology, and geophysical surveys to put together the highest
priority targets for exploration and drilling and, over the coming
months, present its recommendations to Gold’n Futures.
On November 18th 2021, the Company received its
exploration permit that is effective for a period of three years.
With its permit in-hand, Gold’n Futures will commence its inaugural
drill program before the end of November 2021 with the area of
interest for the drilling occupying an area measuring approximately
2.8 km by 4.6 km, approximately 1,310 hectares (“ha”). The area of
interest is centered upon the Hercules historical gold resources
and specifically the Golden Mile gold system. The inaugural drill
program is budgeted for up to 1,500 metres (“m”) comprising ten
drill holes. The objective of the first round of drilling will be
to target areas for structural and grade continuity beyond the
historical resource. The Company expects this first round of
drilling to be completed before the December 2021 holidays with
resumption of the continuing drill program in mid-January.
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 focused
on advancing its Hercules gold project. The Hercules is located 200
kilometres northeast of Thunder Bay, Ont., in the townships of
Elmhirst and Rickaby, within the Thunder Bay North Mining District.
The Project is in the heart of the Beardmore – Geraldton gold
mining camp, the 4th largest gold camp in Canada and is 40 km west
of the Hardrock-Greenstone gold mine development. The property 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 and consists of 475 contiguous claim cells (10,052
ha). From the historical work completed on the property, the
Company has built an extensive database including reconnaissance
grab samples; channel samples; a variety of geophysical surveys;
and, a drill hole database that includes historical drilling
totalling in the order of 537 holes with more than 107,000m of
drill core. With surface grab samples grading up to Grab samples up
10,374 g/t and channel samples up to 32.96 g/t across 11.6 m, the
Hercules gold zones offer top tier targets for the expansion of its
historical resources.
For more information, please visit our website
at: www.goldnfuturesmineralcorp.com
On behalf of
the Board of DirectorsFor further
information
Stephen
Wilkinson,President and CEO
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.
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