- Gold’N Futures Corp. (FUTR) has commenced its 2023 exploration and development program on the Hercules Gold Project in Ontario
- Its first step in the program is to expand upon its recent understanding of the Hercules mineralization, which is currently defined as a series of high-grade gold veins
- Gold’N Futures defined a known halo to be a highly magnetic mafic rock mapped over several kilometres of strike length and beyond previously known occurrences
- The company will also create a new geological model to support an updated mineral resource estimate for the project
- All of this work is expected to be completed by the end of the first quarter of 2023
- Gold’N Futures Corp. (FUTR) is down 12.50 per cent, trading at $0.03 per share as of 1:47 p.m. EST
Gold’N Futures Corp. (FUTR) has commenced its 2023 exploration and development program on the Hercules Gold Project in Ontario.
The company stated its first step in the program to expand upon its recent understanding of the Hercules mineralization, which is currently defined as a series of high-grade gold veins within broader altered zones hosting lower-grade but significant gold mineralization.
Previous data suggested the halo of lower-grade gold mineralization may be up to 30 metres thick. Gold’N Futures has since defined the halo as a highly magnetic mafic rock mapped over several kilometres of strike length and beyond previously known occurrences.
In addition, the magnetic signature has associations with several gold occurrences throughout the Hercules property.
Gold’n Futures stated it will design and assume a sampling program of historical drill cores to verify previous assay values and check unsampled intervals of potential mineralizing halos nearby gold-bearing quartz veins.
Based on the results of the sampling program and previous data, the company will create a new geological model which will incorporate an additional 160 drill holes, surveys, and field mapping.
The geological model will support the next steps of exploration and drilling, as well as allow Gold’n Futures to create a comprehensive model to facilitate an updated mineral resource estimate. The company anticipates that all this work will be completed by the end of the first quarter of 2023 and immediately begin the second stage.
Gold’N Futures Corp. (FUTR) is down 12.50 per cent, trading at $0.03 per share as of 1:47 p.m. EST.