Gold’n Futures Intersects Significant Gold Mineralization in the Golden Mile Zone in First Four Drill Holes at its Hercules Property in Northern Ontario
January 24 2022 - 7:00AM
Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF)
(the "Company” or “Gold’n Futures”) is pleased to report on its
inaugural diamond drill program on the Hercules Gold Project in the
Beardmore-Geraldton gold camp of northwestern Ontario (the
“Hercules Project”). The first four holes intersected significant
gold values ranging from 1.33 g/t in hole HR21-04 to 5.66 g/t in
hole HR21-03 (the “Hercules Drill Program”).
Highlights of the Hercules Drill Program
to Date
- All four drill
holes intersected the Golden Mile zone (“GMZ”).
- Higher grade
gold intersections from drill hole HR21-03 includes, from 34.0
metres (“m”) to 35.1 m, 1.01 m drill width of 5.01 grams per tonne
(“g/t”), and from 35.1 m to 36.0 m, 0.95 m drill width of 4.42
g/t.
- Assays revealed
broad zones of low grade (11.6 m averaging 0.71 g/t) in HR21-02 and
higher-grade veins (2.0 m averaging 5.01 g/t gold) in HR21-03.
- Mineralization
occurs in composite zones of one or more quartz veins with
attendant sulphide-mineralization spatially associated with
magnetic mafic rocks over core intervals of more than 11.0 m.
“These four holes
drilled just before the Christmas break yielded significant gold
mineralization from the GMZ. Intersections in the GMZ display a
robust vein system and it is extremely encouraging that all four
holes intercepted gold mineralization. Based on this early success
resulting from a foundation of extensive data compilation and a
science-based approach to its exploration of the Hercules Project,
we believe that our integration of the new and historical
geological, structural, geophysical and geochemical information
will result in the expansion of the high-grade gold zones at the
Hercules Project.”
Commented, Stephen
Wilkinson, President and CEO
Prior to the December break, four drill holes,
HR21– 01 to – 04, were completed for approximately 545 m of core. A
total of 108 samples were submitted in December 2021 to ActLabs in
Geraldton, Ontario. Drilling resumed on January 9th with HR22 – 05
completed to 201m and HR22 – 06 cored to 201m.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/62bd7f3b-7a2e-4651-9cec-cdf96e5a84bb
DDH |
From(m) |
To(m) |
Width(m) |
GoldAu (ppm) |
HR21-01 |
75.0 |
80.0 |
5.00 |
0.43 |
|
84.5 |
87.5 |
3.05 |
1.50 |
Including |
84.5 |
86.5 |
2.05 |
2.31 |
HR21-02 |
142.0 |
153.6 |
11.60 |
0.71 |
Including |
144.3 |
146.0 |
1.75 |
3.10 |
Including |
145.0 |
146.0 |
1.00 |
3.89 |
HR21-03 |
33.0 |
36.7 |
3.74 |
2.75 |
Including |
34.0 |
36.0 |
1.95 |
5.01 |
With |
34.0 |
35.1 |
1.01 |
5.56 |
And |
35.1 |
36.0 |
0.95 |
4.42 |
|
39.2 |
44.0 |
4.84 |
0.36 |
HR21-04 |
78.0 |
84.7 |
6.67 |
0.63 |
Including |
83.0 |
84.7 |
1.67 |
1.33 |
Table
1. Summary of the
drilling completed to date includes depth of and core length of
mineralization intersected, end of hole depth and interval
analyses.
Drill Hole |
Golden Mile Zone(“GMZ”)From – To (m) |
Width (1)(m) |
End of Hole(m) |
Comments |
HR21- 01 |
84.2 to 86.4 |
2.20 |
132 |
Grey-white quartz vein (“QV”) with up to 2% pyrite |
HR21- 02 |
144.25 to 147.2 |
2.95 |
201 |
Smoky grey QV with up to 5% pyrite in clots and laminations |
HR21- 03 |
34.07 to 41.0 |
6.93 |
66 |
GMZ includes 2 QVs separated by a magnetic mafic unit with quartz
stringers and pyrite |
HR21- 04 |
73.2 to 84.66 |
11.46 |
126 |
GMZ is mix of magnetic mafic unit with QV’s and pyritic
stringers |
Table
2. Summary of the
drilling completed to date includes depth of and core length of
mineralization intersected, end of hole depth and a synopsis of the
mineralized interval.
Next Steps
The Company intends to continue to delineate the
gold mineralization of the Hercules Project with its diamond drill
program. This phase of the drill campaign is intended to finish
with 10 holes drilled by early February. Assays will be reported as
soon as available.
A report on the airborne geophysical survey
conducted by GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF)
is expected to be received by the end of the month. The Company
will be designing its next stages for the exploration of the
Hercules Project based upon targets defined by the geophysical
surveys integrated with the drill results and compilation of the
extensive historical data.
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 Project. The Hercules Project is located
200 kilometres northeast of Thunder Bay, Ont., in the townships of
Elmhirst and Rickaby, within the Thunder Bay North Mining District.
The Hercules 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 Hercules
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 and consists of 475 contiguous
claim cells (10,052 ha). From the historical work completed on the
Hercules Project, 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 107,000 m of drill core. With surface grab samples grading up
10,374 g/t gold and channel samples up to 32.96 g/t gold 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
For further
information
Stephen
Wilkinson,President and CEOEmail: 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.
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