(TheNewswire)
Vancouver, British Columbia- TheNewswire - March 18 th , 2021 - Exploits Discovery Corp.(“Exploits” or the “Company”) (CSE:NFLD) (OTC:RNRRF)(FSE:634-FF) (CNSX:NFLD) is pleased to announce that theCompany, along with its exploration partner GoldSpot DiscoveriesC orp. (“Goldspot”) (TSX.V: SPOT), has defined three high priority drill targets through Goldspot’ s proven artificial intelligence (A.I.) machine learning and dataanalysis technology, which was instrumental in New Found Gold’sdiscovery of the Keats and Lotto zones .
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- The True Grit Project hosts the GRUB Line , a deepseated gold bearing fluid conduit that crosses the Exploits sub zoneand defines mineral pathways similar to the Appleton Fault, the JoeBatts Pond Fault and the Dog Bay Line.
- In the last six months Exploits hasundertaken:
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- A high resolution (100m spacing) airborne VTEMgeophysical survey.
- SGH soil grid analysis
- Surficial structural mapping and sampling
- Historic drill data compilation and modeling
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Where we are going:
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- Goldspot has identified three high priority explorationtargets using proven techniques similar to thoseused by GoldSpot for New Found Gold’s Keats high grade epizonal golddiscovery where they drilled 92.86 g/t Au over 19 metres.
- The geophysical targets display a structural patternsof primary and secondary faulting, that is reinforced by results ofSGH soil anomalies, structural mapping, sampling, and 3D modeling ofhistoric shallow drilling.
- The True Grit Property is road accessible and fullypermitted for drilling in Spring of 2021. It is the first prospect ina series of five drill targets that Exploits is focused on drilling inthe spring of 2021.
Michael Collins, president and chief executive officerof Exploits, commented: "Exploits exploitation strategy is benefiting our shareholders. Inonly 6 months we have defined and filed drill permits on 5 projects.With our first permit at True Grit we have defined 3 new targets. Thatis based on a synthesis of new and old geological information by someof the best minds and A.I. in the business. We look forward todrilling at True Grit and applying our exploration model to the next 4projects.”
The companies have identified 3 high priority drillingtargets on the True Grit Gold Property, (Figures 1 and 2).GoldSpot’s data analysis techniques along with Exploits’ historic data compilation, SGH soil survey, andpreliminary results from the new high resolution airborne VTEM survey have clearly defined new gold targets for drilltesting at True Grit.
TrueGrit Magnetic and SGH Soil Map
Figure 1: Preliminary airborne magnetic data map from Exploits’ highresolution VTEM survey with GoldSpot’s structural analysis. Theinset map displays the SGH soil results with anomalous gold responsesshown to correlate with magnetic highs. The strongest SGH and mag highsignatures occur in prominent north-south trending fault structures,resulting in the first high priority target (Target 1).
The True Grit Project is host to the deep seated GRUB Line fault zone, a known conduit for gold mineralization and goldbearing fluids across the Exploits subzone. The preliminary resultshave identified a structural pattern of primary and secondary faultstructures associated with the GRUB Line, similar to structuresGoldspot identified on New Found Gold’s Queensway South project.
Current evidence suggests that historical explorationdrilling took place on the fringe of the identified targets and thegold intercepts discovered to date are potentially distal to the mainmineralized bodies.
Target 1: 3D geological modeling of the historicaldrilling at True Grit indicates that veining may have aspatial/geometric association with metasediment rock units, coincidentwith north-south EM conductors. This target was poorly tested byshallow historic drilling that missed both the EM-sedimentary rockhosted anomaly as well as the SGH/Magnetic anomaly. This suite offeatures are usually expressed by rocks that have been broken up andsubject to fluid flow. This structural preparation gives the host rocka higher capacity to host significant gold mineralization than theadjacent areas of known gold mineralization on the True Grit Project.
True Grit Magnetic and EM Map
Figure 2: Mapof preliminary EM data over the True Grit project defining 3,northeast trending anomalous features along a formational conductor(red circles). North-south trending, anomalous EM lineaments (redlines) correlate with the magnetic structures delineated in Figure 1(Target 1) which run into the central (Target 2) and northern (Target3) formational conductors, culminating in two more additional highpriority targets.
Untested Targets 2 and 3, were identified on aconductive northeast trending EM anomalies along a major faultstructure.
Target 2: is a coincident magnetic high andconductive EM anomaly, overlaid by intersecting major north trendingand northeast trending faults to the north of known low grade goldmineralization. It is the strongest of the three highlighted EMconductors and has the structural complexity to develop open spacesrequired for deposition of gold mineralization.
Target 3: is a coincident conductive EM signature andhigh priority SGH gold soil anomaly. The SGH gold soil anomaly isspatially associated with an interpreted northwest trending fault,defined by magnetic inversion data, and cross cuts the regional scaleEM conductor. This interpreted structural network of primary andsecondary structures is critical for the generation and emplacement ofepizonal, orogenic gold mineralization.
The True Grit property is 100% owned by ExploitsDiscovery, subject to a 2% royalty with a 1% buyback for $1 million. It i s easily accessible,located only two km west of the junction of the Harbour Breton (Route360) and St. Alban's highways (Route 361) in the Baie d' Espoir areaof Newfoundland's Exploits subzone.
*This press release contains information with respectto adjacent or similar mineral properties which the Company has nointerest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquireany interest in any such properties on adjacent or similar propertiesare not indicative of mineral deposits on the Company’sproperties.
National Instrument 43-101 disclosure
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, running 200 km from DogBay southwest to Bay d'Espoir, has been neglected since the lastmajor exploration campaigns in the 1980s. The last 40 years have seen profound advancements inthe understanding of gold mineralization in the camp. The sum of thisknowledge is now coming together in discrete and effective explorationmodels that have delivered discovery such as New Found Gold's 2019discovery of 92.86 g/t Au over 19.0 metres near surface. The ExploitsSubzone and GRUB regions have been the focus of major staking andfinancing throughout 2020, with increased exploration activitiesforecasted in the area moving into 2021.
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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