VANCOUVER, British Columbia, Jan. 24, 2022 (GLOBE NEWSWIRE) -- 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) |
Gold
Au (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 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.
