(TheNewswire)
Vancouver, British Columbia – TheNewswire - June 3 , 2021- Exploits Discovery Corp. (“Exploits” or the“Company”) (C NSX: NFLD. CN )(OTC: NFLDF ) (FSE:634-FF) is pleased to announcethat the Company has entered into a 50/50 per-cent stakingsyndicate agreement with Crest Resources Inc. (“Crest”) (CSE:CRES) and acquired through staking the 100% owned PB Hill Property(the ”Property”) located in prospective siliciclastic sediments ofthe Exploits Subzone Gold Belt, Newfoundland.
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- The PB Hill Property is a large contiguous land package thatencompasses a land area of ~1,986km² (198,600Ha) .
- Previous exploration of the Property focused mainly on the highlymagnetic mafic/ultramafic rim that hosts numerous significant gold andbase metals occurrences, including a historical inferred resource atthe Mosquito Hill Prospect of 4.47MT of 0.526g/t Au indicated, 32.9MTof 0.461g/t Au inferred located 3 km east of the property boundary.
- New proven model in the Exploits Subzone Gold Belt suggests thatgold is transported in primary structures (ie. Dog Bay Line, AppletonFault) associated with magnetic lows and deposited in secondary andtertiary structures within the siliciclastic sediments of theDavidsville Group.
- The geophysical signature of the Property highlights multipleuntested distinct en-echelon geophysical structures near an extremelow as indicated by the NL Government residual magnetic survey. Theseare deemed to be high priority targets
- With most terrain that strays from major highways and bush trailsvirtually unexplored, we believe there is reason to continue toleverage our increased geological understanding in the area and createincreased shareholder value.
Following recent discoveries in the Exploits Subzone Gold Belt ofNewfoundland, early indications of success across the region show thepotential for a district size gold camp that’s being compared toOntario and Quebec’s Abitibi Greenstone Belt. Although the ExploitsSubzone Gold Belt is different in age; similar rheological processesinvolving gold mobilization in deep seated structures, emplacing goldin later stage secondary, tertiary and quaternary structures indicatethe opportunity for thousands of square kilometers of underexploredgold potential.
The Crest technical team have leveraged their diverse knowledge of thegeology of central Newfoundland and this switch in explorationmindsight early on, to help build Exploits Discovery Corp. With thelargest foothold in the Exploits Subzone, the Crest and Exploitsstaking syndicate delivers increased shareholder value to bothcompanies on the jointly owned PB Hill Property.
Area Map of The PB HillProperty
The PB Hill Property is situated in the siliciclastic sediments of theDavidsville Group, in the Exploits Subzone Gold Belt, Newfoundland.The Project encompasses a total land area of approximately 1,986 km²(198,600 Ha). The project has had very little work completed due tothe majority of focus revolving around base metal exploration;Exploits sees this as an opportunity for discovery. The perimeter ofthe project has undergone multiple exploration programs over the past75 years with the following government documented results:
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- Great Rattling Brook (MODS002D/12/Au 001) - 21 samples over strike of 75m give 0.1 to 2.3 g/t Auin melange of pyritic, graphitic shale bounded by ultramafics andchlorite schist.
- Lizard Pond South (MODS002D/11/Au 002) – Channel samples upto 12.58 g/t Au over 0.4m. DDH– 2.6 g/t Au over 1.0m, 2.3 g/t Au/1.0m, 1.54 g/t Au/0.7m.
- Lizard Pond North (MODS002D/11/Au 003) – Grab sample of 1.47g/t Au, trench channel sampleof 0.96 g/t Au /1.0m, 0.91 g/t Au /1.0m.
- Breccia Pond (MODS002D/11/Au 004) – trench channel of 3.24 g/t Au/1.0m, DDH of 0.84g/t Au/0.7m.
- Swan Lake (MODS 002D/11/Au005) – Trench channel sample of 3.1 g/t Au /2.0m
- Chiouk Brook (MODS 002D/11/Au 001)– DDH 1986 – 14.5 g/t Au/0.25m US Borax , DDH2003 – 2.04 g/t Au/5.9m, 3.6 g/t Au /1.7m, 2.7 g/t Au/0.84m
- Mosquito Hill (MODS002D/05/Au 008) – 4.47MT of 0.526 g/t Au indicated, 32.9MT of0.461g/t Au inferred. Has DDH such as 0.67g/t Au/103.35m including7.56 g/t Au/1.0m, 2.61 g/t Au/2.0.
- Brady/Reid Porphyry Zone (MODS 002D/05/Au 006) – 1.1g/t Au/21.5, 1.6 g/t Au/20.0, 2.2g/t Au/10.6, 0.96 g/t Au/36.1, 1.1 g/t Au/41.4. Best grab sample of6.9 g/t Au in ultra mafics with high Pyrite and Arsenopyrite.
Exploits and Crest believe that there is major upside potential foradditional discoveries in the Exploits Subzone with the application ofthe new epizonal geological model. With most areas that stray frommajor highways virtually unexplored, we believe there is reason tocontinue to leverage our increased geological understanding in thearea and create shareholder value.
References:
All Mineral Occurrence Data System codes (MODS) listed above can befound at the following Newfoundland and Labrador Department of NaturalResources Link: https://gis.geosurv.gov.nl.ca/mods/mods.asp
About Crest/Exploits StakingSyndicate
The Crest/Exploits staking syndicate is a 50/50 per-cent Syndicateagreement where Crest has provided the Geological IntellectualProperty for the staking thesis, and Exploits has funded the stakingexpenses. Exploits will receive the first 1.2 times cost return oninvestment and further benefit will be divided on a 50/50 per-centbasis.
National Instrument 43-101disclosure
Ian Herbranson, P.Geo, is Vice-President of Exploration for thecompany and qualified person as defined by National Instrument 43-101.Mr. Herbranson supervised the preparation of the technical informationin this news release.
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral explorationcompany focused on the acquisition and development of mineral projectsin Newfoundland, Canada. The Company currently holds the Jonathan'sPond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, GreatBend , Gazeebow covering over 2,000 squarekilometres of mineral tenements. The PB Hill projects syndicate covers an additional area of almost 2,000 square kilometres.
With five permitted drill targets, ample cash reserves, and a drillworking and committed through the summer 2021, Exploits is positionedfor discovery.
Exploits believes that the Exploits Subzone G old B elt, which runs 200km from Dog Bay southwest to Bay d'Espoir, has been neglected sincethe last major exploration campaigns in the 1980s. The last 40 yearshave seen incremental advancements in the understanding of goldmineralization in the camp. The sum of this knowledge is now comingtogether in discrete and effective exploration models that have delivered results including New Found Gold's 2019 discovery h ole .The Exploits Subzone and GRUB regions have been the focus of majorstaking and financing since late 2019.
The team at Exploits, with significant local experienceand knowledge, have studied the entirety of the Exploits Subzone andsurr ounding regions, and have picked individualland packages for staking or joint venture, where there are opportunities for world class discoveriesand mine development. Exploits intends to leverage its local team andthe larger shift in geologic understanding and become one of the mostextensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Michael Collins "
President and CEO
For further information, pleasecontact:
Michael Collins, CEO
Tel: ( 778 ) 819 -2708
Neither the Canadian SecuritiesExchange nor its Regulation Service Provider (as the term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy of accuracy of this newsrelease.
Forward-Looking Statements
This news release contains certain forward-lookingstatements, which relate to future events or future performance andreflect management's current expectations and assumptions. Suchforward-looking statements reflect management's current beliefs andare based on assumptions made by and information currently availableto the Company. Readers are cautioned that these forward-lookingstatements are neither promises nor guarantees, and are subject torisks and uncertainties that may cause future results to differmaterially from those expected including, but not limited to, marketconditions, availability of financing, actual results of the Company'sexploration and other activities, environmental risks, future metalprices, operating risks, accidents, labor issues, delays in obtaininggovernmental approvals and permits, and other risks in the miningindustry. All the forward-looking statements made in this news releaseare qualified by these cautionary statements and those in ourcontinuous disclosure filings available on SEDAR at www.sedar.com . These forward-lookingstatements are made as of the date hereof and the Company does notassume any obligation to update or revise them to reflect new eventsor circumstances save as required by applicable law.
Exploits Discovery would like to acknowledge the financial support ofthe Junior Exploration Assistance Program from the Department ofNatural Resources, Government of Newfoundland and Labrador.
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