GOLD'N FUTURES EXECUTES OPTION TO ACQUIRE CLAIMS CONTIGUOUS WITH ITS BRADY GOLD PROPERTY'S REID GOLD ZONE IN ..Cont
25 Mai 2021 - 3:57PM
InvestorsHub NewsWire
Gold'n Futures
executeS option to
ACQUIRE CLAIMS
contiguous with
ITS
Brady gold property's
ReID GOLD ZONE
in Newfoundland
VANCOUVER, BC
-- (Newsfile
– May 25, 2021) GOLD'N FUTURES MINERAL CORP.
(CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company"
or
"Gold'n
Futures") is pleased to
report
it has entered
into a definitive option agreement to acquire
34 mineral
claims (the "Option"),
covering
850
hectares ("ha") (the "Claims").
The Claims all but surround the
Company's
current Brady
Gold Property and its Reid Gold
Zone.
Highlights
of the Option:
-
The
consideration to be paid pursuant to the
Option is
entirely common share
consideration with no cash
payment;
-
Upon full
exercise of the Option, the Company
will
be
transferred 100% title to the Claims,
subject to a 2% royalty;
-
The Option
expands
the Brady Gold Property by
approximately 9-fold to 950
ha;
-
The Claims
protect about 4½
km of favorable gold-related regional structure,
and;
-
The Claims
contain gold in soil anomalies
and geophysical
setting for gold mineralization.
Stephen Wilkinson, President
and CEO commented, "Gold'n Futures sees this Option as highly strategic and
potentially very important to the ultimate advancement of our Brady
gold project into production. We can confidently explore for
the expansion of the Reid Gold Zone both along strike and to
depth. Equally important, the Brady Gold Property gives our
Company a significant beachhead in the vigorous and exciting exploration
environment of Newfoundland."
Terms of
the Option
To exercise the
Option,
Gold'n Futures will issue, over the next three
years, an aggregate of 3 million
shares to the vendor. Upon completion
of the share issuance, the vendor will hold a 2% Net Smelter
Returns royalty. The assessment work required for 2021 to
maintain the claims is $8,500 or
$250/claim.
The Brady
Gold Project
The Project is located 50
kilometres south of the town of Grand
Falls – Windsor in central
Newfoundland and is approximately
80
kilometres southwest of the New Found Gold Corp. –
Queensway gold
project. The Reid Gold Zone is the
main area
of exploration and mineralization.
The Reid Gold Zone is classified as
an
intrusion-hosted style of gold
mineralization.
Several episodes
of diamond
drilling totaling 30 diamond drill holes
and
6,350
metres of core have defined the zone over a
strike length of 300 metres, a width of 250
metres and to a vertical depth of
225 metres and the zone
is
reportedly open along strike and to
depth.
The last reported diamond
drilling on the Reid Gold Zone was in 2011 when Golden Dory
Resources
Corp. completed an additional
2,638.54 metres of core in eight
holes (BO-11-23
to 30) and extended BO-09-16 by an additional 147.08
metres as the hole
had been
terminated in mineralization in 2009. The program was
reportedly
successful and
encountered some of the best grades
drilled to date including BO-11-25 which intersected 25.45
metres grading 1.48 g/t Au including
7.80 metres grading 3.62 g/t
Au.
Next
Steps
Gold'n Futures is planning to
initiate field work
exploration on
the Brady Gold Project in the beginning of summer this year.
Work has already commenced on compiling the historical
geological, geophysical
and geochemical
studies with the view of targeting certain unexplained gold and arsenic,
and geophysical anomalies that occur outside of the Reid Gold
Zone. As soon as practical, the Company will commission a
new high-definition
airborne
geophysical
survey over the entire
project claims to
supplement the old government regional survey.
Fieldwork
will begin once
the compilation and airborne survey(s) are completed to explore for
altered and/or mineralized rocks in float or bedrock.
Coincident with the above,
Gold'n Futures will be laying out plans for diamond drilling to
infill and expand upon the historical resources of the Reid Zone,
and to test any new occurrences discovered by its field
programs. Drilling should be initiated upon receipt of the
required permits and may be able to occur in or about
September
2021.
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 advancing its flagship Hercules gold project
located in
the Hercules-Elmhurst property. The Hercules
is a
well-known high-grade gold Project, 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. It comprises
475
contiguous claim
cells (10,052 ha). To date, the work
completed on the Hercules forms an extensive database
including reconnaissance grab samples; channel samples; a variety
of geophysical surveys; and, historical drilling
totalling in the order of 537
holes
– all of which is
being remodeled for planning of the 2021 exploration
program.
Gold'n Futures' other gold
asset is the Brady Gold Property that consists of an
advanced project within a 950 ha claim group
in the highly
prospective Gander Zone of the
central region of
Newfoundland. The Brady's Reid Gold Zone is an intrusion-hosted
deposit that is only partially
drill-tested and remains open on strike and at depth.
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
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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