(TheNewswire)
Vancouver, British Columbia – TheNewswire - August 23, 2022 – ExploitsDiscovery Corp. (CSE:NFLD) (OTC:NFLDF) (FSE:634) (the “Company”)is pleased to announce that it has commenced its 2022 drillingcampaign at its Titan gold target located approximately 42 kilometresnorth-northeast of New Found Gold’sKeats-Lotto high grade gold discovery. The initial drilling consistsof approximately 10 – 15 diamond drill holes totalling approximately3,500 metres. The Company plans to employ'fa n-style' drilling patterns with several inclined undercutstesting subparallel mineralization with potential continuity at depth.Titan is highlighted by historic drilling intercepts of up to 10.22g/t Au over 3.35 metres in drill core (historic drill hole WP-1;Crosshair Exploration, 2004) and recent Exploits’ rock samplesreturning values of up to 57.5 g/t Au. Exploits believes that the pastdrilling, only 1,559 metres over 20 shallow holes, was insufficientand drilling is warranted.
This drill campaign plans to test for gold mineralization suggested byrelationships between:
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The recent Alpha IP survey geophysical responses,
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Our understanding of the historic, very shallow (under 100 metresvertical depth) drilling results by Crosshair Exploration in 2004,
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Delineation of the local stratigraphy including potentialgold-preferred ‘black shales’ and gabbroic sills, and
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Correlation with high-grade rock samples of up to 57.9 g/t Au.
President and CEO Jeff Swinoga commented, “The start of drilling atour Titan property is a key milestone in the execution and applicationof our new Exploration 2.0 methodology. Our talented local team’s hard work and dedicationallowed us to reach this stage, and we are looking forward to theresults. Furthermore, over ten thousand soil, till and rock assays arepending from our extensive and on-going regional field programsinitiated in late April 2022. We anticipate some of these assaysshould enhance our current targets and potentially generate new onesthat Exploits can develop going forward. With over $11 million in cashand no debt, the Company is well capitalized to continue our pursuitof gold discoveries on one of the largest and most strategic landpackages in the beautiful province of Newfoundland and Labrador.”
Titan Gold Target
A leading-edge, proprietary Alpha IP ™ (“Alpha”) induced polarizationgeophysical survey was completed earlier this summer by SimcoeGeoscience at Titan straddling a 1000 x 1000-metre block ofstructurally prepared/deformed bedrock (see July 18, 2022 pressrelease). Compilation work performed by the Exploits exploration teamhas indicated that mineralization is associated with altered gabbroicintrusions and localized irregular quartz veining that is coincidentwith geophysical responses highlighted by the Alpha IP survey.Interpretation indicated several zones of combined conductivity(elevated metal content) / resistivity (potentialsilicification-veining) responses. This survey is an additional layerthat compliments historic surface sampling, trenching, and drillingand has identified the potential for deeper and more extensivemineralization.
Figure 1
: Historic drilling and 2022 Phase 1 proposed drill collars overlaying3D image highlighting Alpha IP lineaments from vertical profiles.
Visit https://exploitsdiscovery.com/media-3/ for morephotos of Titan.
MCL Drilling of Deer Lake has been contracted to provide theirdrilling equipment and crew’s expertise within central Newfoundlandfor this program. The Titan property has been fully-permitted by theProvince and is located within a well-developed system of forestryroads.
National Instrument 43-101disclosure
Ken Tylee, P.Geo., VP of Exploration with Exploits, is a qualifiedperson within the provinces of Ontario and Newfoundland and Labradoras defined by NI 43-101. Mr. Tylee has reviewed and approved thetechnical information presented herein.
About Exploits Discovery Corp.
Exploits is a Canadian mineral exploration company focused on theacquisition and development of mineral projects in Newfoundland and Labrador, Canada. The Company isactively exploring its gold projects in the Exploits Subzone, coveringapproximately 2,000 square kilometres of mineral tenements. TheCompany’s E xploration 2.0 methodology is focused on discovering high-gradestructurally hosted epizonal gold similar to New Found Gold’ssuccess at the Keats and Lotto Zones in theAppleton zone. Exploits is leveraging its local team andgeologic understanding to become one of the most extensive explorersin the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Jeff Swinoga"
President and CEO
For more information, pleasecontact:
Shanda Kilborn
VP, Investor Relations
+1 (778) 819-2708
https://exploitsdiscovery.com/
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.
Acknowledgments
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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