(TheNewswire)
Vancouver, British Columbia – TheNewswire - July 18, 2022 - ExploitsDiscovery Corp. (“Exploits” or the “Company”) (CSE:NFLD)(OTC:NFLDF) (FSE:634) is pleased to announce the preliminary resultsof its Alpha IP™ (“Alpha IP”) survey on its Titan Propertyconducted by Simcoe Geoscience (“Simcoe”) as part of theCompany’s fully-funded 2022 exploration program. The Company’sprograms are focused along structural lineaments where recentsignificant high-grade gold discoveries have been announced in centralNewfoundland. The Titan Property is located within the Exploitssubzone and overlays the interpreted prospective Valentine Lake Faultextension.
HIGHLIGHTS:
-
Preliminary results of Alpha IP survey have identified the potential for deeper and more extensivemineralization and assisted in generating newdrill targets at Titan
-
Historic drilling did not clearly reveal thesemineralized trends
-
Titan is fully permitted for diamond drilling
Jeff Swinoga commented:"Using industry leading technology is consistent with oursystematic approach on our large and strategic land package toaggressively advance projects up our pipeline of drilling targets. We were delighted to partner with Simcoe at our Titan Property as thenew information from this IP survey was crucial in developing awell-defined series of targets at several high-priority areas atTitan. We are excited about the potential of using Alpha IP on ourother targets in our project pipeline that we are advancing.”
Alpha IP Survey
Exploits deployed Simcoe’s next-generation wireless,high-definition, time-domain Alpha IP technology at its TitanProperty. The IP survey covered 7 line-km of the favourablestratigraphy that straddles the extents of the historicallyunder-explored gold-mineralized trend.
Alpha IP is a “green” survey technology with notree-cutting or surface disturbance required – an example ofeffective, next generation and non-destructive exploration methods atwork. Simcoe’s history of geophysical discovery spans from coast tocoast in Canada, with Alpha IP data and surveys playing a key role inthe recent discovery of what is becoming Ascot Resources’ new minein interior BC. In addition, Simcoe works with other mining clientslocally in Newfoundland.
Simcoe uses deep-penetrating Alpha IP technology toacquire 2D data which then can be quickly modeled and imaged inhigh-definition 3D. This comprehensive 3D imaging will ultimatelyprovide Exploits with the precise targeting needed to potentiallyintersect gold-related mineralization and structures of interestacross a substantial portion of Titan.
Titan Property
Historic surface sampling, trenching, and drilling atthe Titan property indicated a northeast trending mineralized corridorextending over approximately 550 metres of strike length. Historic drilling (Crosshair Exploration and Mining 2004 –2005) tested the mineralized trend at Titan over a strike length ofapproximately 250 metres and to a vertical depth of 65 metres.Compilation work performed by Exploits exploration team has indicatedthat mineralization is associated with altered gabbroic intrusions andlocalized irregular quartz veining.
The 2022 Alpha IP survey is an additional layer thatcompliments historic surface sampling, trenching, and drilling and hasidentified the potential for deeper and more extensivemineralization.
National Instrument 43-101disclosure
Ken Tylee, P.Geo., VP of Exploration with Exploits, isa qualified person within the provinces of Ontario and Newfoundlandand Labrador as defined by NI 43-101. Mr. Tylee has reviewed andapproved the technical information presented herein.
About Exploits Discovery Corp.
Exploits is a Canadian mineral exploration companyfocused on the acquisition and development of mineral projects in Newfoundland andLabrador , Canada. The Company is activelyexploring the Dog Bay Central, Titan, Gazeebow, Mt. Peyton,Jonathan’s Pond, True Grit, Great Bend and Middle Ridge projects,covering approximately 2,000 square kilometres of mineraltenements.
Exploits believes that the Exploits Subzone Gold Belt,which runs 200 kilometres from Dog Bay southwest to Bay d'Espoir, hasbeen neglected since the last major exploration campaigns in the1980s. The last 40 years have seen incremental advancements in theunderstanding of gold mineralization in the camp. The sum of thisknowledge is now coming together in discrete and effective explorationmodels that have delivered results including, New Found Gold's 2019discovery hole. The Exploits Subzone has been the focus of majorstaking and financing since late 2019, with high grade golddiscoveries by New Found Gold, and Labrador Gold as well as advancedresource development by Sokoman Minerals.
The team at Exploits, with significant local experienceand knowledge, has studied the entirety of the Exploits Subzone andsurrounding regions, and having picked individual land claims forstaking, purchase or joint ventures, has developed a land packagewhere there are opportunities for world class discoveries and minedevelopment. Exploits is leveraging its local team and geologicunderstanding and becoming one of the most extensive explorers in theExploits Subzone.
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-looking statements are made as of the date hereof andthe Company 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.
Copyright (c) 2022 TheNewswire - All rights reserved.