Gold’n Futures Defines Major Extensions to Gold Structures & New Priority Gold Targets at Hercules Property, Ontario
June 02 2022 - 8:00AM
GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE:
G6M), (OTC: GFTRF) (the “Company” or “Gold’n Futures”) is pleased
to report the successful first round of interpretations of the
airborne geophysical surveys of the Hercules Property in the
Beardmore-Geraldton gold camp in northern Ontario. The geophysics
have shown a solid correlation between strong narrow magnetic
lineaments and the structures hosting the high-grade gold veins at
the Hercules property. Significantly, the northwest trending
lineaments are the most important. The correlating results of the
magnetic maps are derived from data acquired by the helicopter
borne triaxial gradient magnetic survey flown last October by
GoldSpot Discoveries Corp. (TSXV: SPOT)
Stephen Wilkinson, CEO of Gold’n
Futures, commented: “The strong correlation of the magnetic
lineaments with the Hercules gold zones offers multiple new and
promising vein targets. There is no doubt that the northwest trends
and subparallel alignment of the lineaments is significant and
highly encouraging. Importantly, the extension of the Golden Mile
vein system to the northwest and its breaking into numerous splays
suggest that a robust gold mineralizing system was developed. The
potential of the Golden Mile collectively exceeds 6,900-meters. We
look forward to investigating all the lineaments and new target
areas resulting from the helicopter magnetic survey.”
Figure 1 is a plan of the
geophysical lineaments overlain with the gold vein occurrences in
the central part of the Hercules Property where the historical gold
zones and reported mineral resources are concentrated. The magnetic
lineament interpretation for these priority claims hosting the
historical gold resources indicates that:
a) The Golden Mile vein
system is associated with a complex bifurcating structure
trending northwest more than 2,120 meters (“m”) beyond its known
length of approximately 2,000 m. The main lineament divides or
splays into several branches where one splay is 1,874 m long and a
second splay being 940 m long.
b) The Lucky Strike
vein system is just south of the Golden Mile vein and
appears to extend an additional 400-meters to the northwest, giving
the vein lineament an impressive strike of about 1,000 m.
c) The Yellow Brick
Road lineament is located about 1,600 m northeast of the
Golden Mile and extends from its known western end for an
additional 2,000 m to the northwest along the contact zone of the
Elmhirst Lake Intrusive Complex and volcanic rocks. Much like the
Golden Mile, the Yellow Brick Road zone has a magnetic strike
nearly 4 kilometers.
d) The Miron West
lineament is a subparallel to the Yellow Brick Road gold
structure. Together these features may define a 350 m wide corridor
hosting conjugate vein arrays.
e) New Target Zones
have been found south of the Golden Mile and Lucky Strike
lineaments. These seven new targets occur as northwest
trending lineaments (A, B, C, D, E, F and G) are aligned in
correlation with the known gold zones and offer significant
exploration potential.
This first interpretation is applicable to only
about 10% of the surface area of the 10,052-hectare Hercules
property and demonstrates the outstanding potential of this
fraction of the Company’s project holdings. The coincidence of the
high-grade veins with the northwest trending magnetic lineaments is
clear. It is believed that the extensions of the lineaments beyond
the present known limits of the veins could be the harbinger of a
world-class gold deposit much like the nearby Greenstone gold mile
with its reported 4.5 million ounce reserve.
The Company is now planning to include
significantly more surface evaluation in its 2022 summer
exploration program. Emphasis shall be placed on the new targets
within the northwest extensions of the known gold veins and outside
the mineral resource areas where the geophysical anomalies combined
with the geological setting make highly compelling gold
targets.
https://www.globenewswire.com/NewsRoom/AttachmentNg/1edc5259-bb29-4800-9516-ab9ff0e65dcfFigure
1 Magnetic lineaments Residual Total Field VD-1.
Relationships of lineaments to gold zones.
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
Elmhurst 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. The Hercules 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. The property comprises 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
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,604-687-2038
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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