TORONTO, Sept. 01, 2020 (GLOBE NEWSWIRE) — GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (the “Company”), is pleased to announce that a field crew has been mobilized to the company’s Cree Lake Gold Project (the “Property”). The field crew is undertaking a program of prospecting, mapping and soil sampling on the Property; following up on target areas identified from a high-resolution Airborne Magnetic, VLF-EM and Radiometric survey which was flown in 2017.
As outlined in the NI 43-101 Technical Report examining the Property’s historical data, dated December 4, 2019, and posted on the Company’s SEDAR profile on August 28, 2020 (the “Technical Report”), the Cree Lake property hosts several high-grade gold occurrences. The most significant historical high-grade gold occurrences have yielded gold values ranging from 2.0 g/t to 30.10 g/t in grab samples and drill core samples as high as 2.05 g/t along a 15.5 meter drill length (14.75 meters true width). To the south of the Property several subparallel iron formation horizons exist, distributed along a strike length in excess of 3 kilometres with individual horizons up to 20 meters in width. The grab samples disclosed are selected disclosures and are not necessarily indicative of the mineralization hosted on the Property.
The Property encompasses approximately 3,696 hectares, consists of 156 single cell claims, and 43-boundary cell claims situated in the Swayze Greenstone belt in Ontario. The Ridout Deformation Zone (the “RDZ”), a high strain zone defining a structure to be the possible westward extension of the Cadillac-Larder Lake Break along which many of the gold mines in Kirkland Lake, Ontario occur, passes through the Property. The Kirkland Lake Gold Camp has yielded (to 2019) more than 41 million oz of gold from 36 mines. 60-kilometers east of the Property is IAMGOLD’s Cote Lake gold deposit through which the RDZ passes. Cote Lake hosts a total Proven and Probable Reserves of 4.7 million ounces, total Measured and Indicated Resource (inclusive of Reserves) of 6.5 million ounces and total Inferred Resources of 1.6 million ounces. The mineralization, resources and reserves hosted on other properties in the Kirkland Lake Gold Camp are not necessarily indicative of mineralization hosted on the Property.
The Property straddles the RDZ, and, coupled with the known association of some Archean gold deposits (Musselwhite Mine (Newmont), Beardomore Gold Camp) with Banded Iron Formation, makes the Property a compelling exploration play.
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 consultant of the Company. Mr. Hanych has verified the within data based only on his review of the Technical Report and all sampling, analytical, and test data contained within.
About Gold’n Futures Mineral Corp.
Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) is a Canadian based exploration company focused on acquiring prospective precious metals properties with the objective of making new discoveries in established gold camps in Canada.
On behalf of the Board of Directors
For further information
Theo van der Linde, Director
Phone: 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.
