Gold’n Futures Signs MOU With First Nations & Receives Work Permit For The Hercules Gold Project Near Geraldton, Ontario
VANCOUVER, British Columbia, Nov. 23, 2021 (GLOBE NEWSWIRE) — Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the “Company” or “Gold’n Futures”) reports it has signed a Memorandum of Understanding (“MOU”) with the three local Anishinaabe First Nations respecting the Hercules Gold Project. The First Nations that are party to the MOU are Animbiigoo Zaagi’igan Anishinaabek (“AZA”), Bingwi Neyaashi Anishinaabek (“BNA”) and Biinjitiwaabik Zaaging Anishinaabek (“BZA”). As the Hercules project lies within their traditional territories, the First Nations are important stakeholders in Hercules project and its exploration programs. The Company, AZA, BNA and BZA are collectively referred to as the “Parties”.
“The discussions, emails and document exchanges between the representatives of the local Indigenous communities and Gold’n Futures have resulted in founding a new, respectful relationship. Certainly, the evolving spirit of co-operation will be exceedingly beneficial to all of the Parties. We have also started planning our next co-operative undertakings comprising adoption of Environmental, Social and Governance policies for the Company and establishing the lines of communication to ensure Gold’n Futures operations are sustainable and environmentally responsible.”
Commented, Stephen Wilkinson, President and CEO
The MOU sets out a communication protocol between the Parties, establishes a framework for the relationship between the Parties and charts a negotiating path for a pending Exploration Agreement. In addition, the MOU marks the completion of the very important review and approval of Gold’n Futures’ exploration permit, allowing the Ontario Ministry of Northern Development and Mines Natural Resources and Forestry, Mineral Development Branch (NDMNRF) to issue the work permit. The immediate next step will be the commencement of negotiations towards executing the Exploration Agreement between Gold’n Futures and the First Nation communities.
Hercules Exploration Program & Permit Update
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) (“GoldSpot”) had its geophysical team on the Hercules property starting on October 20th, 2021. During the first two weeks of November, GoldSpot completed its proprietary airborne geophysical surveys utilizing its Multi-Parameter Airborne Survey System (“M-PASS”) with Triaxial Magnetic Gradiometer and Very Low Frequency Electromagnetic (VLF-EM) Platform. The airborne surveys covered the entire 109 square kilometres of the Hercules property, flying approximately 1,200 line-kilometres with 100-metre line spacing. The Company anticipates GoldSpot will be delivering its preliminary findings of the airborne geophysical surveys in December, 2021. In addition, GoldSpot will use its artificial intelligence algorithms to reinterpret the Hercules property’s structural geology, resource geology, and geophysical surveys to put together the highest priority targets for exploration and drilling and, over the coming months, present its recommendations to Gold’n Futures.
On November 18th 2021, the Company received its exploration permit that is effective for a period of three years. With its permit in-hand, Gold’n Futures will commence its inaugural drill program before the end of November 2021 with the area of interest for the drilling occupying an area measuring approximately 2.8 km by 4.6 km, approximately 1,310 hectares (“ha”). The area of interest is centered upon the Hercules historical gold resources and specifically the Golden Mile gold system. The inaugural drill program is budgeted for up to 1,500 metres (“m”) comprising ten drill holes. The objective of the first round of drilling will be to target areas for structural and grade continuity beyond the historical resource. The Company expects this first round of drilling to be completed before the December 2021 holidays with resumption of the continuing drill program in mid-January.
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 Elmhirst 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 development. 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 and consists of 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 more than 107,000m of drill core. 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
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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.