(TheNewswire)
Vancouver, British Columbia - TheNewswire – April 8 , 2021 - Exploits DiscoveryCorp. (“Exploits” or the “Company”) (CSE:NFLD)(OTC: NFLDF ) (FSE:634-FF) (CNSX:NFLD.CN) is pleasedto announce th at it has received the drillpermit for 3,000 metres of drilling at its 100% wholly owned Schoonergold project (the “project”) located in the Exploits Subzone,Newfoundland. The Company has also expanded its airborne VTEM surveyin the southern projects, to include a second helicopter flying thenorthern projects focusing on the Appleton and Dog Bay Line Faultcorridors.
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- Exploits received diamond drilling permits for 12 holes totaling a length of ~3,000metres at the Schooner Prospect in the Mt.Peyton Gold Project.
- The company has expanded its airborne VTEM geophysical survey that was flying on Exploits’ southern projects to cover the Mt.Peyton and Dog Bay Gold Projects. A second helicopter has commenced flyingthese new lines focusing on the Appleton and Dog Bay Line Fault Zonecorridors which include the Schooner, LittleJoanna Veins, and Quinlan Veins targets.
- Tightly spaced (50m) ground magnetometer surveys areunderway at Schooner, in addition to the airborne VTEM, to enhance thedefinition of the target to drill ready scale.
- Exploits drilling placement follows on the sametargeting techniques used by New Found Gold Corp. at the Keats Zone;targeting secondary and tertiary displacement structures that arepermissive for the deposition of gold that has been mobilized upthrough deep seated structures such as the Appleton or SchoonerFaults.
- The Company is fully funded for its 12,000m springand summer drill program with 2 targets permitted and 3 drill permitapplications pending.
Michael Collins, President and Chief Executive Officerof Exploits, commented: “The past six months at Exploits has beenabout prospecting, trenching, consolidating historical information,and prioritizing targets. The spring and Summer of 2021 are aboutdrilling for Discovery. The schooner permit is the second of aminimum of 5 drill permits that we intend to have in place when thesnow comes off in the spring of 2021.”
2021 Diamond Drill PermitLocations
Figure 1: Mapof Exploits Discovery claim boundaries with the location of theapproved Schooner and True Grit drill permits, as well as thelocations of the pending Little Joanna Veins, Quinlan Veins, andJonathan’s Pond drill applications.
Figure 2: Preliminary drill plan for the Schoonerprospect with comparison and spatial relationship to New FoundGold’s Keats, Lotto, and Knob zones.
Exploits has identified 3 discrete targets on theSchooner fault within the company’s 100% wholly owned Mt Peyton goldproject for drilling. Drill permits have been received for 12 holes(3,000m) at the Schooner prospect in Mt. Peyton, targeting secondarydisplacement faults stemming from the Schooner Fault, a deep-seatedfault zone 3.5 km west and trending subparallel to New Found Gold’sKeats Zone along the Appleton Fault. The target has been deemedanalogous to the Keats Zone due to the similarities in structuralcontrol and both locations being hosted in Davidsville Groupsediments.
A tightly spaced (50 metres) ground magneticgeophysical survey has commenced over the highlighted target areas andis expected to be completed in the next couple weeks. Thehigh-resolution data it produces will allow the company to get adetailed image of the Schooner Fault and its associated secondarystructures that are not obvious in the regional geophysics that the fault was identified in. This willallow for optimized drill locations to best test the Schoonertarget.
About Expanded Airborne VTEMGeophysical Survey
Figure 3: Mapof Exploits’ airborne VTEM geophysical survey over the Mt. Peytonand Dog Bay projects, focused on the Dog Bay Line and Appleton Faultzones.
With the success of the target generation through highresolution airborne VTEM geophysics and GoldSpot Discoveries’(“Goldspot”) (TSX.V: SPOT) A.I. and data analysis technologies onExploits’ southern projects, the company has expanded its surveyarea to cover the Mt. Peyton and Dog Bay Gold Projects. This willinclude 6,530 line kilometres at 100 metre spacings, focused oncovering the Dog Bay Line and Appleton Fault Zone corridors thatcontain high grade gold in outcrop samples including 194 g/t Au at theLittle Joanna Veins and 61.3 g/t Au at the Quinlan Veins respectively.A second helicopter has commenced flying the new lines with the otherhelicopter finishing up flying the southern projects before moving tothe northern projects.
The VTEM geophysical data includes magnetic andelectromagnetic data that is uploaded daily for Exploits’ team andpartner Goldspot to interpret in real time. The addition of the secondhelicopter will speed up the data collection and analysis processes inpreparation for drilling the identified targets this spring/summer, aswell as building up secondary targets for future groundexploration.
Quality Assurance – Quality Control(“QA/QC”)
All rock samples are collected by company personnel andbagged in the field with a sample tags for identification. The bagsare sealed with tape and kept secure at a company facility until theyare transported directly to the lab by Exploits staff.
All rock samples are analyzed at Eastern Analytical of403 Little Bay Road, Springdale, NL, a commercial laboratory that isISO/IEC 17025 accredited and completely independent of ExploitsDiscovery Corp. Eastern Analytical pulverized 1000 grams of eachsample to 95% < 89 ?m. Samples are analyzed using fire assay (30g)with AA finish and an ICP-34, four acid digestion followed by ICP-OESanalysis. All samples with visible gold or assaying above 8.00 g/t Auare further assayed using metallic screen to mitigate the presence ofthe nugget effect of coarse gold. Samples in this report were run forOre Grade Assay when with multi-acid digestion with AA finish forsamples above detection limit for silver.
National Instrument 43-101 disclosure
IanHerbranson, P.Geo, is Vice-President of Exploration for the companyand qualified person as defined by National Instrument 43-101. Mr.Herbranson supervised the preparation of the technical information inthis 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 suchas New Found Gold's 2019 discovery of 92.86 g/t Au over 19.0 metresnear surface. The Exploits Subzone and GRUB regions have been thefocus of major staking and financing throughout 2020, with increasedexploration activities forecasted in the area moving into2021.
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'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 the financial support ofthe Junior Exploration Assistance Program from the Department ofNatural Resources, Government of Newfoundland and Labrador.
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