Vancouver, British Columbia--(Newsfile Corp. - October 16, 2023) - GOLD'N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M) (OTC Pink: GFTRF) (the "Company" or "Gold'n Futures") is very pleased to announce that it has entered into a binding letter of intent (the "LOI") with Stephen Stockley Agriculture and Fabrication Inc. ("SSAF Inc."), an arm's length third party, to acquire a 100% undivided interest in two mineral licenses (the "New Licenses") to complete its coverage of the Mosquito Hill Gold Deposit in the Province of Newfoundland and Labrador. The effective date of the LOI is October 11, 2023.
Highlights of the Acquisition:
Gold'n Futures' can boast a property of 2,350 ha with two significant deposits.
The Brady-Huxter Gold Project now contains all of the Mosquito Hill Gold Deposit and the Reid Gold Zone.
The Project has aggregated historical Indicated Resources of 196,257 gold ounces and Inferred Resources of 742,496 gold ounces. (Table 2 & Cautionary Note)
All gold zones remain open to expansion both along strike and to depth.
Gold'n Futures' President and CEO, Stephen Wilkinson, remarked, "The assembling of our Brady-Huxter gold project is now complete and contributes an established gold asset to the value of our Company. The two large porphyry-hosted gold deposits have well-recognized historical gold resources on which our geological team is excited to get to work. Being open along strike and to depth, both the Mosquito Hill deposit and the Reid gold zone could be developed into large, world-class mines. With our recently amalgamated Brady-Huxter project and the pending new resource estimate on the Company's Hercules gold property in Ontario, Gold'n Futures could potentially far exceed its initial million-ounce target."
"The Gold'n Futures partnership aligns with SSAF Inc.'s overall asset development strategy and underscores our focus on forging long-term beneficial collaborations. Securing the crucial Mosquito Hill deposit opens up a notable resource potential, and we anticipate promising outcomes as Gold'n Futures advances the project," commented Angie Stockley, Chief Commercial Officer of SSAF Inc., President of the NL Minerals Collective.
The New Licenses
The New Licenses cover 100 ha and are contained within and are now part of the Brady-Huxter property, the subject of the Company's news release dated September 18, 2023. The Brady-Huxter property is located 50 kilometers ("km") southeast of the town of Gander in central Newfoundland. The property is surrounded by Exploits Discovery Corp.'s (CSE: NFLD) claims () and is 10 km west of the New Found Gold Corp.'s (TSXV: NFG) Queensway gold property boundary ().
The combined Brady-Huxter property now includes the Huxter Lane licenses and the New Licenses which together total 9 mineral licenses, comprising 91 claims over 2,350 ha (Table 1.).
The gold mineralization of the Mosquito Hill deposit is associated with 5% to 10% disseminated and stringer pyrite and arsenopyrite, and locally significant quartz veined zones, hosted within an extensive quartz-feldspar porphyry. The deposit displays similarities to the Fort Knox deposit in Alaska, currently being mined by Kinross Gold, and which has been in production since 1997 and currently has reported proven and probable reserves of 1.9 million ounces of gold (). Within the Brady-Huxter property, the Mosquito Hill gold zones have a drill indicated strike extent of approximately 600 meters ("m") and to a vertical depth of 225 m and remain open both along strike and to depth with significant historical drill intercepts (2006) including from drill hole HX06-16 which returned 2.21 grams per tonne gold ("g/t Au") over 35.0 m and 0.67 g/t Au over 103.5 m.
Golden Dory completed a 15-hole, 2,024 m drill program at the Mosquito Hill mineralization in May 2009 and a 14-hole, 3,016 m drill program in May-June 2010. Most holes successfully intersected the gold-bearing porphyry over thicknesses ranging up to 98 m. Significant assay results include 38.68 m grading 0.57 g/t Au including 17.05 m grading 0.94 g/t Au from HX-09-33, and 30.80 m grading 0.51 g/t Au including 9.03 m grading 1.00 g/t Au from hole HX- 09-37.
Table 1.: Brady-Huxter Project Mineral Licenses
Acquisition Group | Licenses | Number of Claims | Area (ha.) |
Brady | 31339M | 4 | 100 |
Brady Ext. | 27408M | 34 | 850 |
Huxter Lane | 031004M | 7 | 175 |
| 034723M | 23 | 575 |
| 023778M | 6 | 150 |
| 024225M | 4 | 100 |
| 027406M | 12 | 300 |
New Licenses | 034831M | 2 | 50 |
| 036475M | 2 | 50 |
Totals |
| 94 | 2,350 |
Brady-Huxter Project - Historical Resources
In 2010, Golden Dory commissioned Giroux Consultants Ltd. to complete a resource estimation for the Mosquito Hill prospect. In September of 2010 this estimate was revised based on the 2010 drill data. The Mosquito Hill deposit gold resource was based on 60 drill holes totaling 10,305 m.
The Mosquito Hill Deposit was estimated to contain an indicated resource of 11.18 million tonnes averaging 0.546 g/t Au for 196,257 ounces of gold, and an inferred resource of 38.76 million tonnes averaging 0.457 g/t Au for 569,496 ounces of gold at a cut-off of 0.30 g/t Au. The revised update also reported an initial resource estimate for the Company's nearby Reid gold zone which is 1,600 m northwest of the Mosquito Hill Deposit. The Reid gold zone estimate reported an inferred resource of 9.57 million tonnes averaging 0.56 g/t Au for 173,000 ounces of gold at a cut-off of 0.30 g/t Au. The resource estimates cited above are historical, see the Cautionary Note.
Cautionary Note: The Company refers to the historical resource estimates associated with the Reid Gold Zone and the Mosquito Hill deposit. These historical estimates are based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person on the behalf of the Company has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimates as a current NI 43-101-compliant mineral resource estimate. Accordingly, the historical estimates should not be relied upon. Establishing current mineral resource estimates will require further evaluation, which the Company intends to complete in due course.
Table 2.: Brady-Huxter Project Historical Mineral Resource Estimate
Indicated Resources |
|
|
|
|
Deposit | Au Cutoff | Tonnes > Cutoff | Grade > Cutoff | Contained Ounces |
Mosquito Hill | 0.30 | 11,180,000 | 0.546 | 196,257 |
Inferred Resources |
|
|
|
|
Deposit | Au Cutoff | Tonnes > Cutoff | Grade > Cutoff | Contained Ounces |
Mosquito Hill | 0.30 | 38,760,000 | 0.457 | 569,496 |
Reid | 0.30 | 9,570,000 | 0.560 | 173,000 |
Total for Inferred |
| 48,330,000 | 0.477 | 742,496 |
The Agreement Terms
Under the terms of the LOI, the Company shall have the exclusive option (the "Option") for a period of up to 4 years to acquire an undivided 100% ownership interest in the New Licenses by:
issuing 1,500,000 common shares in the capital of the Company ("Common Shares") and a cash payment equal to $35,000 to SSAF Inc., or its nominee, upon the execution date of a definitive option agreement ("Option Agreement");
issuing 2,000,000 Common Shares and $40,000 to SSAF Inc., or its nominee, before the first anniversary of the Option Agreement;
issuing 2,500,000 Common Shares and $45,000 to SSAF Inc., or its nominee, before the second anniversary of the Option Agreement;
issuing 3,000,000 Common Shares and $50,000 to SSAF Inc., or its nominee, before the third anniversary of the Option Agreement; and,
issuing 3,500,000 Common Shares and $60,000 to SSAF Inc., or its nominee, before the fourth anniversary of the Option Agreement.
The Company will, on the 7th year following the entering into of the Option Agreement, make an advance royalty payment to SSAF Inc. equal to $5,000 (the "AR Payments") on each anniversary of the Option Agreement. Any late payments under the Option Agreement (including for greater certainty the AR Payments) will be subject to an interest rate of 2.0% per month.
Upon exercise of the Option, SSAF Inc. will retain 2.0% net smelter royalty on the New Licenses (the "NSR"). The Company may purchase 1.0% of the NSR from SSAF for $2,000,000. The Company will maintain a right of first refusal over the NSR in the event that SSAF Inc. elects to sell the NSR following the exercise of the Option. The NSR will be more fully provided for in the Option Agreement.
The transaction, including the issuance of Common Shares to SSAF Inc. and the execution of a definitive agreement, are subject to satisfactory due diligence by the Company and may be subject to regulatory approvals, as applicable. Any securities issued in connection with the transaction will be subject to certain escrow conditions as agreed to between SSAF Inc. and the Company, as well as applicable statutory hold periods.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Walter Hanych, P. Geo., who is a Qualified Person under NI 43-101 regulations and is the Lead Geologist and a director of the Company.
Unit Offering
On August 4th, 2023, the Company announced a non-brokered offering of units of the Company (the "Unit Offering"). The Company will not proceed with the Unit Offering at this time but may seek additional funding as market conditions warrant.
About Gold'n Futures Mineral Corp.
Gold'n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (OTC Pink: GFTRF) is a mineral exploration company with two advanced Canadian gold projects. The Hercules Gold Project is 195 km northeast of Thunder Bay, Ontario in the Beardmore - Geraldton gold mining camp. It is 54 km north west of Equinox Gold's Greenstone gold mine that reportedly boasts 5.5 million ounces of Proven and Probable Reserves ( The Hercules Property consists of 425 contiguous claims (11,370 ha). From the historical and its current work, the Company has built a comprehensive database and model and is preparing a new Mineral Resource Estimate based upon current and historical drilling totalling the order of 537 holes comprising 114,000 m of core.
The Brady-Huxter Gold Project is in Central Newfoundland, 50 km southeast of the town of Gander. The Brady-Huxter property consists of nine mineral licenses, which cover 2,350 ha and contain two large porphyry-hosted gold deposits, the Reid and Mosquito Hill. These deposits have a combined drill-defined historical resource estimate of 59.5 million tonnes containing 938,753 oz of indicated and inferred gold mineralization (see Gold'n Futures news of October 16, 2023).
Gold'n Futures is conducting programs to expand its gold resources and to develop viable gold mining operations through the application of extensive geological experience and knowledge combined with advanced technologies and computer modeling.
For more information, please visit our website at: .
On behalf of the Board of Directors
For further information
Stephen Wilkinson,
President and CEO,
Email: stephen@goldnfutures.com
Ph: +1.236.886.8808
不列顛哥倫比亞省溫哥華--(Newsfile Corp.,2023 年 10 月 16 日)-GOLD'N FUTURES 礦業公司。(CSE:FUTR)(FUSE:G6M)(OTC Pink:GFTRF)(”公司“或”黃金期貨“) 很高興地宣佈,它已經簽訂了一份具有約束力的意向書(”LOI“) 與斯蒂芬·斯托克利農業和製造公司合作 (”SSAF Inc。”),一家獨立的第三方,將收購兩份礦產許可證的100%不可分割權益(”新許可證“)完成對紐芬蘭省和拉布拉多省蚊子山金礦牀的報道。意向書的生效日期爲2023年10月11日。
此次收購的亮點:
Gold'n Futures'可以擁有2350公頃的土地,擁有兩個重要的礦牀。
Brady-Huxter Gold Project 現在包含了所有的蚊子山金礦和裏德金區。
該項目彙總了196,257盎司黃金的歷史指示資源和742,496盎司黃金的推斷資源。 (表 2 和警示說明)
所有黃金區域仍然開放,無論是沿打擊還是深度擴展。
Gold'n Futures總裁兼首席執行官斯蒂芬·威爾金森表示, “我們的Brady-Huxter黃金項目的組裝現已完成,爲我們公司的價值貢獻了既定的黃金資產。這兩個以斑岩爲主的大型金礦擁有廣爲人知的歷史金資源,我們的地質團隊很高興能開始研究這些資源。由於沿着走向和深度開放,蚊子山礦牀和裏德金礦區都可以開發成世界一流的大型礦山。隨着我們最近合併的Brady-Huxter項目,以及該公司位於安大略省的大力神金礦的新資源估算即將到來,Gold'n Futures有可能遠遠超過其最初的百萬盎司目標。”
“Gold'n Futures的合作伙伴關係與SSAF Inc.保持一致。”的整體資產開發戰略,凸顯了我們對建立長期有益合作的重視。保護關鍵的蚊子山礦牀開闢了可觀的資源潛力,隨着Gold'n Futures推進該項目,我們預計會取得令人鼓舞的結果,” SSAF Inc. 首席商務官、荷蘭礦業集團總裁安吉·斯托克利評論說。
新許可證
新許可證佔地100公頃,包含在Brady-Huxter物業內,現在是該公司2023年9月18日新聞稿的主題。Brady-Huxter 酒店位於 50 公里處 (”公里“) 位於紐芬蘭中部甘德鎮的東南部。該物業被 Exploits Discovery Corp.s(CSE:NFLD)索賠 (),位於 New Found Gold Corp. 以西 10 公里處s (多倫多證券交易所股票代碼:NFG) 金礦產邊界 ()。
合併後的Brady-Huxter財產現在包括Huxter Lane許可證和新許可證,它們共有9份礦產許可證,包括91份超過2350公頃的索賠(表1)。
Mosquito Hill礦牀的金礦化與5%至10%的浸染和串燒黃鐵礦和黃鐵礦以及局部重要的石英脈帶有關,這些區域位於廣闊的石英長石斑岩中。該礦牀與阿拉斯加的諾克斯堡礦牀有相似之處,該礦牀目前由金羅斯黃金公司開採,自1997年以來一直在生產,目前報告的探明和可能儲量爲190萬盎司黃金()。在 Brady-Huxter 礦業內,Mosquity Hill 金礦區的鑽探顯示走向範圍約爲 600 米(“m”),垂直深度爲 225 米,沿走向和深度都保持開放,歷史上有大量的鑽探攔截(2006 年),包括鑽孔 HX06-16,每噸黃金返回 2.21 克(”g/t Au“) 在 103.5 m 上超過 35.0 m 和 0.67 g/t Au。
Golden Dory 於 2009 年 5 月在蚊子山礦化區完成了 15 孔 2,024 米的鑽探計劃,並於 2010 年 5 月至 6 月完成了 14 孔、3,016 米的鑽探計劃。大多數孔成功地與含金斑岩相交,厚度可達 98 米。重要的分析結果包括 38.68 m 的金分級 0.57 g/t,包括 HX-09-33 中分級爲 0.94 g/t Au 的 17.05 m,以及 30.80 m 的金等級 0.51 g/t,包括 HX-09-37 洞中分級 1.00 g/t Au 的 9.03 米。
表 1。: Brady-Huxter 項目礦產許可證
收購組 | 許可證 | 索賠數量 | 面積 (公頃) |
布雷迪 | 31339M | 4 | 100 |
Brady Ext | 27408M | 34 | 850 |
Huxter Lane | 031004M | 7 | 175 |
| 034723M | 23 | 575 |
| 023778M | 6 | 150 |
| 024225 M | 4 | 100 |
| 027406M | 12 | 300 |
新許可證 | 034831M | 2 | 50 |
| 036475M | 2 | 50 |
總計 |
| 94 | 2,350 |
Brady-Huxter Project-歷史資源
2010年,Golden Dory委託Giroux Consultants Ltd.完成對蚊子山前景的資源估算。2010年9月,根據2010年的鑽探數據,對這一估計進行了修訂。蚊子山礦牀的黃金資源基於60個鑽孔,總計10,305米。
據估計,蚊子山礦牀的指示資源爲1118萬噸,196,257盎司黃金平均爲0.546克/噸金,推斷資源爲3,876萬噸,平均爲0.457克/噸金含量爲569,496盎司黃金,臨界點爲0.30克/噸金,臨界點爲0.30克/噸金。修訂後的更新還報告了該公司附近的裏德金礦區的初步資源估計,該金礦位於蚊子山礦牀西北1600米處。裏德金礦區的估計顯示,推斷資源爲957萬噸,平均0.56克/噸金含量爲17.3萬盎司黃金,臨界點爲0.30克/噸金。上面引述的資源估計數是歷史性的, 參見警示說明。
警示說明: 該公司參考了與裏德金礦區和蚊子山礦牀相關的歷史資源估計。這些歷史估計基於先前運營商獲得和準備的先前數據和報告,以及政府當局提供的信息。代表公司的合格人員在根據當前的CIM類別驗證礦產資源估算值的分類方面做得不夠。該公司沒有將歷史估計值視爲當前符合NI 43-101標準的礦產資源估計。因此,不應依賴歷史估計。確定當前的礦產資源估算值需要進一步評估,公司打算在適當時候完成評估。
表 2。: Brady-Huxter Project 歷史礦產資源估計
指定資源 |
|
|
|
|
存款 | Au Cutoff | 噸 > 截止值 | 等級 > 截止值 | 所含盎司 |
蚊子山 | 0.30 | 11,180,000 | 0.546 | 196,257 |
推斷的資源 |
|
|
|
|
存款 | Au Cutoff | 噸 > 截止值 | 等級 > 截止值 | 所含盎司 |
蚊子山 | 0.30 | 38,760,000 | 0.457 | 569,496 |
瑞德 | 0.30 | 9,570,000 | 0.560 | 173,000 |
推斷的總計 |
| 48,330,000 | 0.477 | 742,496 |
協議條款
根據意向書的條款,公司應擁有排他性選擇權(”選項“) 期限最長爲4年,可通過以下方式收購新許可證的100%不可分割的所有權:
在公司資本中發行1,500,000股普通股 (”普通股“) 並在最終期權協議執行之日向SSAF Inc. 或其被提名人支付相當於35,000美元的現金 (”期權協議“);
在期權協議簽訂一週年之前,向SSAF Inc. 或其提名人發行200萬股普通股和4萬美元股票;
在期權協議簽訂兩週年前向SSAF Inc. 或其提名人發行250萬股普通股和45,000美元;
在期權協議簽訂三週年前向SSAF Inc. 或其提名人發行300萬股普通股和5萬美元;以及
在期權協議簽訂四週年之前,向SSAF Inc. 或其提名人發行350萬股普通股和6萬美元。
公司將在期權協議簽訂後的第七年向SSAF Inc.支付相當於5,000美元的預付特許權使用費(”增強現實支付“) 在期權協議的每個週年紀念日。期權協議下的任何逾期付款(爲了更確定起見,包括應收賬款付款)都將按每月 2.0% 的利率支付。
行使期權後,SSAF Inc. 將保留新許可證的2.0%淨冶煉廠特許權使用費(”NSR“)。公司可能以200萬美元的價格從SSAF購買1.0%的NSR。如果SSAF Inc.在行使期權後選擇出售NSR,公司將保留對NSR的優先選擇權。《期權協議》將對NSR作出更全面的規定。
該交易,包括向SSAF Inc.發行普通股和執行最終協議,均需經過公司令人滿意的盡職調查,並可能獲得監管部門的批准(如適用)。與交易相關的任何證券都將受SSAF Inc.與公司之間商定的某些託管條件以及適用的法定持有期的約束。
合格人員
本新聞稿的科學和技術內容已經過P. Geo. Walter Hanych先生的審查和批准,他是NI 43-101法規規定的合格人員,也是公司的首席地質學家和董事。
單位發行
2023年8月4日,公司宣佈通過非經紀方式發行本公司單位(”單位發行“)。公司目前不會繼續進行單位發行,但可能會在市場條件允許的情況下尋求額外資金。
關於 Gold'n Futures Mineral
Gold'n Futures Mineral Corp.(CSE:FUTR)(FSE:G6M)(OTC Pink:GFTRF)是一家礦產勘探公司,擁有兩個先進的加拿大黃金項目。Hercules Gold Project位於安大略省桑德貝東北195公里處,位於比爾德莫爾-傑拉爾頓的金礦開採營地。它位於Equinox Gold的Greenstone金礦西北54公里處,據報道,該金礦擁有550萬盎司的探明和可能儲量(大力神財產由425個連續的土地所有權(11,370公頃)組成。根據歷史和當前的工作,該公司已經建立了一個全面的數據庫和模型,並正在根據當前和歷史鑽探準備新的礦產資源估算,總共537個孔,包括11.4萬米的岩心。
Brady-Huxter金礦項目位於紐芬蘭中部,甘德鎮東南50公里處。Brady-Huxter的礦產由九份礦產許可證組成,佔地2350公頃,包含兩個大型斑岩爲主的金礦,即裏德和蚊子山。根據鑽探定義的歷史資源估計,這些礦牀的總資源量爲5,950萬噸,其中有938,753盎司的指示和推斷出來的金礦化(見2023年10月16日Gold'n Futures新聞)。
Gold'n Futures正在開展計劃,通過應用豐富的地質經驗和知識以及先進的技術和計算機建模,擴大其黃金資源並開發可行的金礦開採業務。
欲了解更多信息,請訪問我們的網站:。
代表董事會
欲了解更多信息
斯蒂芬·威爾金森,
總裁兼首席執行官,
電子郵件:stephen@goldnfutures.com
Ph:+1.236.886.8808