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     131  0 Kommentare Gold’n Futures executes definitive agreement to acquire 100% of Brady Gold Project in central Newfoundland - Seite 2

    In March, 2011, a second phase of drilling on the Property designed to expand the known mineralization and to gain additional information to update the initial resource estimate on the Reid Zone. The program delivered the highest grades to date highlighted by: BO-11-24 which intersected from 29.94m – 61.00m, 36.06 meters grading 1.15 g/t Au and from 84.0m – 103.98m, 19.98 meters grading 1.05 g/t Au; hole BO-11-25 which intersected from 307.55m – 333.00m, 25.45 meters grading 1.48 g/t Au including a section from 317.10m – 324.980m, 7.80 meters grading 3.62 g/t Au.

    A resource estimate for the Reid Zone was prepared in September 2012 and currently would be regarded as a historical estimate, as referenced above.

    The historical estimate at 0.3 g/t Au cut off, produced 9.57 million tonnes averaging 0.56 g/t Au classified as Inferred for a rounded total of 173,000 ounces of gold. The deposit remains open down dip and along strike therefore considerable additional drilling is required to substantially expand the zone.

    The above resource was based on 21 holes totalling 4,699 meters and 1,486 samples. A mineralized grade shell typical of porphyry mineralization was constructed on a 0.10 g/t cut-off. Five-meter composites were utilized and outlier high grade gold values were capped. Grade continuity was established by using semi-variograms and bulk density of 2.80 was used from 55 core samples of the Reid zone. Grader blocks of 20 x 20 x 5 meters in dimension were generated by Ordinary Kriging. From various cut-off grades for an open pit operation a 0.3 g/t cut-of was highlighted in the Giourx 2013 report which is cited in this press release.

    The Reid Zone shares similarities to a relatively new type of gold deposit called Intrusion- Related Gold Systems (IRGS), first defined in 1999 (McCoy, 1999). Several well-known examples of this type of deposit are found in the Tintina Gold Belt in Alaska and the Yukon Territory and include the Fort Knox, Donlin Creek and Brewery Creek deposits. A comparison of these deposits and the Property shows many similarities such as a complex tectonic terrane comprised of deformed shelf sequences and their proximity to major terrane bounding structures. The host felsic to intermediate porphyritic intrusions contain quartz veins, arsenopyrite and black shale rafts, which are also common features between the three deposit areas. The host lithology to the intrusions, the alteration and the vein style and mineralogy (with the exception of lack of stibnite mineralization) are also similar.

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    Gold’n Futures executes definitive agreement to acquire 100% of Brady Gold Project in central Newfoundland - Seite 2 TORONTO, Nov. 25, 2020 (GLOBE NEWSWIRE) - GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M) (OTC: GFTRF), (the "Company”), is pleased to announce that it has executed a Purchase and Sale Agreement with United Gold Inc. (“United Gold”) to acquire …

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