Gold’n Futures Mineral Corp. has announced that it has obtained, by staking, five multi-cell claims summing 82 units situated in the Castlewood Lake Area of the Thunder Bay North District of Ontario.
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The latest claims are adjacent to the northeastern portion of the Hercules property and encompass an area of around 1,312 ha. The new staking together with the actual Hercules claims raises the project area to over 10,000 ha.
With the added claims, Gold’n Futures has tactically safeguarded the northeastern and northern portion of the Kaby Lake Intrusive Complex (the KLIC) and its contact with metamorphosed mafic and felsic volcanic rocks. This is an essential contact as the Hercules gold zones are related to northeastern contact of the Elmhirst Lake Intrusive Complex (ELIC).
The KLIC is around 2.5 km northeast of the primary gold zones of the Hercules gold project and is analogous in age and composition to the ELIC. Inside the KLIC and adjacent volcanic units, there occur well-known mineral occurrences.
Inside the mafic volcanics, there occurs an area of sulfide mineralization where historical drilling in 1988 by Duration Mines Ltd and later in 2010 by Kodiak Exploration Ltd tested several nickel-copper occurrences.
In the middle part of Gold’n Futures’ newly staked claims and next to the northern contact of the KLIC, a 1986-1987 basal till sampling program was started by the Ontario Geological Survey and Geological Survey of Canada, and yielded a sample with four gold grains.
Most importantly, regions related to well-known gold deposits like the Sturgeon River Gold mine and Dik-Dik mine also generated gold grains in basal till from the same sampling program. The program results were published in the Ontario Ministry of Northern Development and Mines Map P-3105—Gold Grains in Surface Till Samples, Beardmore-Geraldton Area.
We are pleased to have staked these claims over a significant section of the Kaby Lake Intrusive Complex, thereby adding to the regional potential of the Hercules property. These claims protect a potentially important area of geological structures and gold anomalies that may host another suite of high-grade gold occurrences.
Stephen Wilkinson, President-CEO, Gold’n Futures Mineral Corp