(TheNewswire)
Vancouver, British Columbia - TheNewswire - March 21, 2022 - ExploitsDiscovery Corp. (“Exploits” or the “Company”) (CSE:NFLD) (CNSX:NFLD.CN) (OTC:NFLDF)(FSE:634-FF) is excited toannounce its new, fully funded, 2022 Exploration Programs for itsthree new target areas strategically situated along the northernextent of Exploits’ 50 kms of claims across the Interpreted AppletonFault. The Interpreted Appleton Fault hosts New Found Gold’sKeats high-grade discovery zone as well as the Lotto, Dome, and GoldenJoint Zones.
HIGHLIGHTS:
Exploration Programs for NewTargets : Extensive soil sampling, prospecting,and mapping programs at our three new target areas: Appleton North,Duder Lake, and Titan South (see Figure 2), which are all situatedalong the “Interpreted Appleton Fault” (as identified by GoldSpotDiscoveries (“GoldSpot”) though analysis of airborne (VTEM)geophysics). Exploits’ work to date has demonstrated thepotential for orogenic gold mineralization at these targets throughhistoric data analysis, mapping, prospecting, and airborne/groundgeophysics including :
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Appleton North :Multiple historic high-grade grab samples including 233.4 g/t Au, 25.1g/t Au, 24.2 g/t Au, 19.7 g/t Au, and 16.3 g/t Au. Samples are coincident with the Interpreted Appleton Fault.
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Duder Lake :Multiple historic anomalous grab samples including 8.3 g/t Au, 7.6 g/tAu, 3.3 g/t Au, 2.8 g/t Au, and 2.5 g/t Au; historic anomalous soilsamples up to 2.2 g/t Au. Samples are coincident with the InterpretedAppleton Fault.
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Titan South :Historic Heavy Metal Concentrate (HMC) samples including 44.7 g/t Au,5.7 g/t Au, and 3.5 g/t Au located proximal to the InterpretedAppleton Fault.
Drilling Permits Received : Permits have been received for Appleton North, DuderLake, and Titan South targets (Figure 1). Drilling decisions willfollow results from the announced extensive explorationprograms.
President and CEO Jeff Swinoga commented, “With over$13 million of cash, we are very excited about our 2022 ExplorationPrograms that are focused mainly on our northern claims along the Interpreted Appleton Fault in the Dog Bay area. Since taking on the leadership of Exploits inSeptember 2021, our team has worked toward a disciplined, systematicapproach in evaluating one of the largest land packages in the largelyunexplored Central Newfoundland Gold Belt. Our refocused explorationprogram has included enlisting the support of Dr. David Groves, aworld expert in orogenic gold deposits, along with GoldspotDiscoveries, to work with our team in Gander to reinterpret existingdata and analyze new information including over 20,000+ km of newgeophysics. While delays in receiving 2021 assay results have beendisappointing, this year’s disciplined and refocused program is wellunderpinned, zoning in on new and exciting areas as our teamcontinuously develops and prioritizes a pipeline of newtargets to maximize our chances for successfulgold discoveries.”
New Target Area Programs
The discoveries by Newfound Goldand Labrador Gold are situated within Marine Sediments that have beencut by the major NNE trending Appleton Fault, which in turn has beencut by a series of ENE trending faults. Gold appears to occur nearthe intersections of these faults in apparent dilatational zones.
Exploit’s Dog Bay claim group is situated in a similar geological environment to recentdiscoveries made by Newfound Gold and Labrador Gold further to thesouth and underlain by Mélange, Marine and non-Marine Sediments cutby the major NNE trending Interpreted Appleton Fault (see Figure 3).
In the Dog Bay claims group area, Exploits will beundertaking an extensive soil sampling, prospecting, and mappingprograms at its Appleton North, Duder Lake, and Titan South targetswhich lie along the Interpreted Appleton Fault. This large-scale soilprogram will be conducted at 100 m line spacing and 50 m samplespacing designed to optimally test the prospective areas along theInterpreted Appleton Fault that historically have produced grabsamples with up to 233.4 g/t Au. Follow-up trenching may be warrantedin areas where prospecting and/or sampling confirm the presence ofmineralization.
The Company has received drilling permits for its threehigh priority target areas on its northern extent of the InterpretedAppleton Fault: Appleton North, Duder Lake, and Titan South targets(Figure 1). Results from the recently announced soil program will playa vital role in the development of these drill targets.
Figure 1: Exploits new target areaspermitted for drilling.
Figure 3: 2022 Appleton North, DuderLake, and Titan South soil sampling program with NewfoundlandGeological Survey regional geology overl ay.
National Instrument 43-101disclosure
Peter McIntyre, P.Geo., Senior Geologist at GoldSpotDiscoveries Corp., and a consultant to the company, is a qualifiedperson as defined by NI 43-101. Mr. McIntyre has reviewed andapproved the technical information presented herein.
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, Great Bend, andGazeebow projects covering approximately 2,000 square kilometres ofmineral tenements. The 50% owned PB Hill projects syndicate covers anadditional area of almost 2,000 square kilometres.
Exploits believes that the Exploits Subzone GoldBelt, which runs 200 kilometres from Dog Bay southwest toBay d'Espoir, has been neglected since the last major explorationcampaigns in the 1980s. The last 40 years have seen incrementaladvancements in the understanding of gold mineralization in the camp.The sum of this knowledge is now coming together in discrete andeffective exploration models that have delivered results including NewFound Gold's 2019 discovery hole. The ExploitsSubzone has been the focus of major staking and financing since late2019 with high grade gold discoveries by Newfound Gold and LabradorGold as well as advanced resource development by SokomanMinerals.
The team at Exploits, with significant local experienceand knowledge, have studied the entirety of the Exploits Subzone andsurrounding regions, and having picked individual land claims forstaking, purchase or joint ventures, havedeveloped a land package where there are opportunities for world classdiscoveries and mine development. Exploits intends toleverage its local team and the larger shift in geologic understandingand become one of the most extensive explorers in the ExploitsSubzone.
ON BEHALF OF THE BOARD
/s/ "Jeff Swinoga"
President and CEO
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 thefinancial support of the Junior Exploration Assistance Program fromthe Department of Natural Resources, Government of Newfoundland andLabrador.
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