Gold’n Futures Adds New Claims to Hercules Gold Property in the Beardmore-Geraldton Gold Camp, Ontario
Gold’n Futures Mineral Corp. (OTC: GFTRF) announced the acquisition of 5 multi-cell claims in Ontario, expanding its Hercules project area to over 10,000 hectares. The new claims, located near the Kaby Lake Intrusive Complex, enhance the company's strategic position in a region with historical gold and nickel-copper occurrences. Notably, previous sampling in the area yielded significant gold grains. This expansion aims to protect geological structures and potential high-grade gold anomalies, as stated by President Stephen Wilkinson.
- Acquired 5 multi-cell claims increasing Hercules project area to over 10,000 ha.
- Strategically protects northern part of Kaby Lake Intrusive Complex, possibly enhancing gold exploration.
- Historical sampling in the area yielded gold grains, indicating potential for high-grade gold deposits.
- None.
VANCOUVER, British Columbia, May 10, 2021 (GLOBE NEWSWIRE) -- GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company” or “Gold’n Futures”) is pleased to report it has acquired by staking 5 multi-cell claims totaling 82 units located in the Castlewood Lake Area of the Thunder Bay North District of Ontario. The new claims are contiguous with the northeastern portion of the Hercules property and cover an area of approximately 1,312 hectares (“ha”). The new staking in combination with the original Hercules claims increases the project area to more than 10,000 ha.
With the additional claims, Gold’n Futures has strategically protected the northern and northeastern portion of the Kaby Lake Intrusive Complex (the “KLIC”) and its contact with metamorphosed felsic and mafic volcanic rocks. This is an important contact as the Hercules gold zones are associated with northeastern contact of the Elmhirst Lake Intrusive Complex (“ELIC”).
The KLIC is approximately 2.5 kilometers northeast of the main gold zones of the Hercules gold project and is similar in age and composition to the ELIC. Within the KLIC and adjacent volcanic units, there are known mineral occurrences. Within the mafic volcanics there is an area of sulphide mineralization where historical drilling in 1988 by Duration Mines Ltd. and later in 2010 by Kodiak Exploration Ltd. tested a number of nickel – copper occurrences.
In the central part of the Company’s newly staked claims and near the northern contact of the KLIC, a 1986-1987 basal till sampling program, undertaken by the Ontario Geological Survey and Geological Survey of Canada, yielded a sample with 4 gold grains. Significantly, areas associated with known gold deposits such as the Sturgeon River Gold mine and Dik-Dik mine also produced gold grains in basal till from the same sampling program. The results of this program were published in the Ontario Ministry of Northern Development and Mines Map P-3105 – Gold Grains in Surface Till Samples, Beardmore-Geraldton Area.
“We are pleased to have staked these claims over a significant section of the Kaby Lake Intrusive Complex, thereby adding to the regional potential of the Hercules property. These claims protect a potentially important area of geological structures and gold anomalies that may host another suite of high-grade gold occurrences,” commented Stephen Wilkinson, President-CEO.
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 located in the Hercules-Elmhurst property. The Hercules Project is located 120 kilometres northeast of Thunder Bay, Ont., in the townships of Elmhurst and Rickaby, within the Thunder Bay North Mining District in the heart of the Beardmore – Geraldton gold mining camp. 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. The property consists of 475 contiguous claim cells (10,052 ha). To date, the work completed on the property forms 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. More than a total of 2,000 grab and channel samples were collected from the property. In the last two field seasons, more than 150,000 square metres of trenches were developed, much of which have been fully reclaimed. For more information, please visit our website at: www.goldnfuturesmineralcorp.com
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.
On behalf of the Board of Directors
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.
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