VANCOUVER, British Columbia, June 02, 2022 (GLOBE NEWSWIRE) -- 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-ab9ff0e65dcf
Figure 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 Directors
For 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.
Figure 1
Magnetic lineaments Residual Total Field VD-1. Relationships of lineaments to gold zones.
Source: Gold’n
Futures Mineral Corp.2022 GlobeNewswire, Inc., source Press Releases - Canada
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