(TheNewswire)
Vancouver, British Columbia - TheNewswire - April 15 th , 2021 -Exploits Discovery Corp. (“Exploits” or the “Company”)(C NSX :NFLD. CN ) (OTC:NFLDF) (FSE:634-FF) is pleasedto announce that it has awarded its phase one 2021 diamond drillingprogram to Majors Contracting Ltd. of Deer Lake, Newfoundland.
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- Exploits has signed a 7,500 metre drilling contract with the option to expand it to 13,500 metres.
- The company has been granted three of five drillpermit applications including; Schooner, Little Joanna, and True Grit,and expects to receive the Quinlan Vein and Jonathan’s Pond permitsshortly. (see map and summaries on the following page)
- Three of the five drilling targets host visible goldat surface with high grade assays up to 194 g/t Au.
- True Grit has grades of up to 16 g/t Au in outcropand 30 g/t Au in float boulders with widespread low grademineralization.
- The Schooner target was developed by Gold Spot's machine learning program which has a proven track record for discovery at the Keats Zone, located only3.5 km to the east.
Michael Collins, President & Chief ExecutiveOfficer of Exploits, commented: “The Exploits Team is very excitedto begin our drill program in Newfoundland. In six short months wehave developed five high priority drill targets, and continue togenerate a pipeline of additional high quality drill targets. Thetargets are based on Goldspot’s machine learning process, fieldprospecting and geophysical testing of the large scale deep seatedgeophysical structures that are extremely important for thedevelopment of orogenic gold discovery in the Exploits Subzone.”
Overviewof Exploits First Five 2021 Drilling Targets
Schooner
3.5 km west of New Found Gold’s Keats Zone is theExploits’ Schoonerprospect . This was the first high prioritytarget identified by GoldSpotDiscoveries . The Schooner Fault is parallel tothe gold bearing Appleton Fault which hosts NFG’s Keats Zone. Drill targeting here is focused on a Schooner Fault splay, (wherethe fault splits in two), and two secondary faultintersections.
Details about GoldSpot Discoveries targets at Schooner canbe found: https://exploitsdiscovery.com/exploits-receives-first-goldspot-discoveries-corp-exploration-target/
Map of Drilling Permits andApplication Locations
Figure 1: Mapof the Exploits Discovery claim boundaries with the locations of theapproved Little Joanna Veins, Schooner, and True Grit drill permits,as well as the pending Jonathan’s Pond and Quinlan Veins drillapplications.
LittleJoanna
The LittleJoanna prospect returned our highest gradevisible gold in outcrop from quartz veins averaging 30cm in width,uncovered up to 20m in strike before becoming buried under overburden.
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- 16 samples from outcrop and subcrop at the LittleJoanna Veins were taken with values ranging from 0.1 to 194 g/t Au.Five samples with visible gold returned assays of 194, 133, 123, 119,and 118 g/t Au.
For more information about the Little Joanna prospect,visit: https://exploitsdiscovery.com/exploits-visible-gold-samples-assay-194-g-t-gold-at-little-joanna-dog-bay-project-newfoundland/
QuinlanVein
The QuinlanVein prospect is located on a secondarystructure splaying off the Appleton Fault. There are multiple 50-70centimetre-wide quartz veins over a 25m wide zone, currently exposed5-20 metres in strike before diving under overburden. Visible gold wasdiscovered as fine grains in crack seal fractures and as fine tocoarse grains in the quartz veins. Trace sulphide mineralization isalso present in the quartz veins as pyrite, chalcopyrite, galena, andsphalerite. The veins are milky white with sections of vuggy and crackseal textures, which are typical of epizonal, orogenic gold deposits.Structurally, the veins are situated within secondary faultstructures, associated with the Appleton Fault zone, that werehighlighted by GoldSpotDiscoveries ’ geophysical analysis.
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- 57 samples from outcrop and subcrop at the QuinlanVeins were taken. Five samples, one with visible gold (VG), returnedassays of 61.3, 59.0, 14.4, 14.2, and 12.6 g/t Au, with 26 totalsamples assaying over 0.1 g/t Au with an average grade of 7.3 g/t Au.
For more detail on the Quinlan Vein prospect, visit: https://exploitsdiscovery.com/exploits-visible-gold-outcrop-samples-assay-61-3-g-t-gold-and-189-g-t-silver-at-the-quinlan-veins-within-the-dog-bay-gold-project-newfoundland/
True Grit
Near the southern end of our properties lies True Grit , it is adjacent to the GRUB line fault and has seen somehistorical drilling (including 0.60 g/t Au over 117m from surface)plus new VTEM geophysics and an SGH soil survey completed within thepast five months . The soil and geophysical results indicate that thehistorical drilling was in the wrong orientation and missed the besttargets.
Information about our work at True Grit can be foundhere: https://exploitsdiscovery.com/exploits-reports-sgh-soil-grid-and-outcrop-sampling-results-at-the-true-grit-gold-project/
Jonathan’sPond
Approximately 30km southwest from Little Joanna is Jonathan’s Pond . Exploits consolidated our property here in late 2020 withland acquisition from NewFound Gold , in exchange for 6.5M shares (9.9% ofthe company at the time). This project has received the mosthistorical work of any property in our portfolio, with historic rockgrab samples returning up to 29 g/t Au and 700 g/t Au. The propertyfeatures a large, distinctive quartz vein exposed for over 200m, andis bound by the JBP and GRUB line faults. The Company has alsoidentified the JP Demagnetized Zone which stretches over 2 km,parallel to the structures known to host visible gold at the JPVeins.
More information about Jonathan’s Pond can be foundhere: https://exploitsdiscovery.com/exploits-consolidates-the-johnathans-pond-project-with-acquisition-from-new-found-gold/
National Instrument 43-101disclosure
Ian Herbranson, P.Geo, is Vice-President of Explorationfor the company and qualified person as defined by National Instrument43-101. Mr. Herbranson supervised the preparation of the technicalinformation in 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, Great Bend andGazeebow projects which cumulatively cover an area of approximately2,111 square kilometres.
All projects within Exploits’ portfolio lie withinthe Exploits Subzone.
Exploits believes that the Exploits Subzone, whichruns 200 km from Dog Bay southwest to Bay d'Espoir, has beenneglected since the last major exploration campaigns in the 1980s. Thelast 40 years have seen incremental advancements in the understandingof gold mineralization in the camp. The sum of this knowledge is nowcoming together in discrete and effective exploration models that havedelivered discoveries such as New Found Gold's 2019 discovery of 92.86g/t Au over 19.0 metres near surface. The Exploits Subzone and GRUBregions have been the focus of major staking and financing throughout2020, with increased exploration activities forecasted in the areamoving into 2021. Exploits is financed and with four of five drillpermits in place for an extensive drill program in the Spring of2021.
The team at Exploits, with significant local experienceand knowledge, have studied the entirety of the Exploits Subzone andpicked individual land packages for staking or joint venture wherethere is an opportunity for world class discoveries and minedevelopment. Exploits intends to leverage its local team and thelarger shift in understanding and become one of the most extensiveexplorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Michael Collins "
President and CEO
For further information, pleasecontact:
Michael Collins, CEO
Tel: (604) 681-3170
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's exploration and other activities, environmentalrisks, future metal prices, operating risks, accidents, labor issues,delays in obtaining governmental approvals and permits, and otherrisks in the mining industry. All the forward-looking statements madein this news release are qualified by these cautionary statements andthose in our continuous disclosure filings available on SEDARat www.sedar.com . Theseforward-looking statements are made as of the date hereof and theCompany does not assume any obligation to update or revise them toreflect new events or circumstances save as required by applicablelaw.
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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