(TheNewswire)
EXPLOITS NEW DIAMOND DRILLING PROGRAM TO COMMENCE INAUGUST
Vancouver, British Columbia – TheNewswire - July 21, 2022 - Exploits Discovery Corp. (“Exploits” or the“Company”) (CSE:NFLD) (OTC:NFLDF) (FSE:634) is pleased to announcethat its new drill program will commence in mid-August at itshigh-priority targets including Titan, Duder Lake, and Gazeebowproperties.
HIGHLIGHTS:
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Exploits has signed a 6,000 to10,000 metre drilling contract with Majors Contracting Limitedof Deer Lake, NL
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Results-driven drill campaigns at high-priority targets currently include Titan, Duder Lake andGazeebow
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Historic, near surface, drilling at the Titan area intercepted goldmineralization which generated intercepts of 11.82 m of 1.68 g/t Auand 5.25 m of 6.77 g/t Au
President and CEO, Jeff Swinoga, commented, “We are very excited tobegin this drill program on our first three high priority targets. We are also eagerly waiting for the results of our high-definitionsoils extensive campaign focused along the Appleton Fault. In sixshort months we have advanced three high priority drill targets andcontinue to generate a pipeline of additional targets towards thedrill-ready stage. Since taking on the leadership of Exploits inSeptember last year, our team has worked toward a disciplined,systematic approach in evaluating one of the largest land packages inthe predominately unexplored Central Newfoundland Gold Belt. Ourgeologists continue to follow our Exploration 2.0 Methodologyresulting in a detailed scorecard ranking which includes all availablecompilation and interpretations. This upcoming drill program willalso capture the recommendations of our partnership with SimcoeGeoscience at our Titan target, along the projections of the northeastgold prospective Valentine Lake structure.
Titan Property
Historic surface sampling, trenching, and drilling at the Titanproperty indicated a northeast trending mineralized corridor extendingover approximately 550 metres of strike length. Historic drilling(Crosshair Exploration and Mining 2004 – 2005) tested themineralized trend at Titan over a strike length of approximately 250metres and to a vertical depth of 65 metres. Compilation workperformed by Exploits exploration team has indicated thatmineralization is associated with altered gabbroic intrusions andlocalized irregular quartz veining.
The 2022 Alpha IP survey is an additional layer that complimentshistoric surface sampling, trenching, and drilling and has identifiedthe potential for deeper and more extensive mineralization.
Duder Lake
Multiple historic anomalous grab samples including 8.3g/t Au, 7.6 g/t Au, 3.3 g/t Au, 2.8 g/t Au, and 2.5 g/t Au; historicanomalous soil samples up to 2.2 g/t Au. Samples are coincidentwith the Interpreted Appleton Fault corridor.
Historic drilling in the area, completed by other companies in the1980-1990s, produced significant mineralized intersections including:7.29 g/t Au over 2.55 m and 6.09 g/t Au over 3.1 m (drill holeDL96-3); 5.4 g/t Au over 5.2 m (drill hole DL96-5); 4.42 g/t Au over3.4 m, 4.5 g/t Au over 7.8 m, and 7.01 g/t Au over 2.8 m (drill holeDL90-1); 3.46 g/t Au over 7.25 m, 4.27 g/t Au over 4.75 m, and 5.68g/t Au over 3.35 m (drill hole DL90-6).
Gazeebow
The Gazeebow Property is 35 km northeast of the late 2019 New FoundGold Corp. Keats discovery, which returned a diamond drill hole with92.86 g/t Au over 19.0 metres near surface (see New Found Gold Corp.news dated January 28, 2020), and is underlain by the same package ofsiliciclastic rocks as the discovery host. The interpretation of theCompany’s VTEM™ airborne geophysical survey confirms the presenceof numerous structural breaks and flexures which a can indicatefavourable sites for gold bearing fluids. The Company's field crewsare currently in the area prospecting and mapping to provideadditional focus.
National Instrument 43-101disclosure
Ken Tylee, P.Geo., VP of Exploration with Exploits Discovery Corp., isa qualified person in the Provinces of Ontario and Newfoundland &Labrador as defined by NI 43-101. Mr. Tylee has reviewed and approvedthe technical information presented herein.
About Exploits Discovery Corp.
Exploits is a Canadian mineral exploration company focused on theacquisition and development of mineral projects in Newfoundland andLabrador, Canada. The Company is actively exploring the Dog BayCentral, Titan, Gazeebow, Mt. Peyton, Jonathan’s Pond, True Grit,Great Bend and Middle Ridge projects, covering approximately 2,000square kilometres of mineral tenements.
Exploits believes that the Exploits Subzone Gold Belt, which runs 200kilometres from Dog Bay southwest to Bay d'Espoir, has been neglectedsince the last major exploration campaigns in the 1980s. The last 40years have seen incremental advancements in the understanding of goldmineralization in the camp. The sum of this knowledge is now comingtogether in discrete and effective exploration models that havedelivered results including, New Found Gold's 2019 discovery hole. TheExploits Subzone has been the focus of major staking and financingsince late 2019, with high grade gold discoveries by New Found Goldand Labrador Gold, as well as advanced resource development by SokomanMinerals.
The team at Exploits, with significant local experience and knowledge,has studied the entirety of the Exploits Subzone and surroundingregions, and having picked individual land claims for staking,purchase or joint ventures, has developed a land package where thereare opportunities for world class discoveries and mine development.Exploits is leveraging its local team and geologic understanding andis becoming 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, laborissues, delays in obtaining governmental approvals and permits, andother risks in the mining industry. All the forward-looking statementsmade in this news release are qualified by these cautionary statementsand those in our continuous disclosure filings available on SEDAR atwww.sedar.com. These forward-looking statements are made as of thedate hereof and the Company does not assume any obligation to updateor revise them to reflect new events or circumstances save as requiredby 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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