(TheNewswire)
Vancouver, British Columbia - TheNewswire - April 13 th , 2021 -Exploits Discovery Corp. (“Exploits” or the “Company”)(CSE:NFLD) (OTC:NFLDF) (FSE:634-FF) (CNSX:NFLD.CN) is pleased to announcethat the Company has received full permitting from the Newfoundlandand Labrador Government for drilling the Little Joanna Vein prospectwi th in the Dog Bay GoldProject (the “P roject”) , Newfoundland.
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- Exploits has received diamond drilling permits for n ine holes totaling ~2,250 metres at the Little Joanna Vein prospect at the Project.
- The drill program will focus on intersectingmineralization in the subsurface coinciding with high grade visiblegold at surface (up to 194 g/tAu) in quartz veins and associated faultstructures identified through analysis of geophysical data.
- The Company is fully funded for its 12,000m springand summer drill programs and has received drill permits for three targets , True Grit, Schooner, and the LittleJonna prospect , with two applications pending for the Quinlan Vein prospect andJonathan’s Pond project.
Michael Collins, President and Chief Executive Officerof Exploits, commented: “Exploits continues to deliver drill permitapprovals on high priority targets that we have developed in theExploits Subzone Gold Belt. I am impressed with our team's ability togenerate these gold targets so quickly and look forward to getting adrill turning quickly this spring.”
About 2021 Diamond Drilling
Exploits has identified discrete drill targets at theLittle Joanna Vein prospect within its Project and has received drillpermits for nine holes (~2,250m). To date, the Company has nowreceived three drill permits, including True Grit, Schooner, andLittle Joanna (Figure 1), totaling 33 holes (8,000 metres). The drillholes at Little Joanna will target quartz veins with abundant fine andcoarse visible gold that are situated structurally within a secondaryfault highlighted by GoldSport Discoveries’ geophysical analysis ofregional airborne magnetic geophysics to be associated with, andsub-parallel to, the interpreted Dog Bay Line Fault Zone (Figure 2).The Little Joanna quartz veins have been exposed for up to 20 metresalong strike before diving under thick overburden at both ends and are20-50 cm wide massive quartz. These veins occur across a width of 20mperpendicular to the strike. 16 samples from outcrop and subcrop atthe Little Joanna Veins were taken in late 2020, with five samples with visible gold returnedassays of 194, 133, 123, 119, and 118 g/t Au.
2021 Diamond Drill PermitLocations
Figure 1: Mapof the Exploits Discovery claim boundaries with the locations of theapproved Little Joanna Veins, Schooner, and TrueGrit drill permits, as well as the pending Jonathan’s Pond and Quinlan Veins drillapplications.
Analysis of the fault structures interpreted byGoldSpot geophysicists and the Exploits team both demonstrates therelationship of the Little Joanna fault within a kink in theregionally extensive Dog Bay Line fault and indicates there is asecond, unexplored subparallel fault west of the Little Joanna faultthat also has potential to host gold mineralization. These faults andintersecting structures are important in producing the open spacesrequired for the deposition of large gold deposits and provide anotherhigh priority drill target at the prospect. A high resolution airborneVTEM geophysical survey has commenced flying in the area and willcover the Little Joanna Vein prospect to enhance the definition of thefault structures in the target area and provide additional informationfor step-out drill targeting.
Figure 2: Preliminary drill plan for the Little Joanna Vein prospectwith locations of proposed drill holes and outcrop samples withstructural intersection targets highlighted in blue circles. Insetphoto shows an example of exposed quartz veining along a 20-metrestrike length with adjacent bedrock covered by overburden.
The Little Joanna Veins are located with one of aseries of claims optioned from Eddie and Roland Quinlan, (the“Quinlan Option”), on August 20, 2020 where Exploits can earn a100% interest by paying or issuing property by paying an aggregate of$220,000 cash and issuing a further 2.5 million common shares and$560,000 in either cash or common shares.
Quality Assurance – Quality Control(“QA/QC”)
All rock samples are collected by company personnel andbagged in the field with a sample tag for identification. The bags aresealed with tape and kept secure at a company facility until they aretransported 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.
NationalInstrument 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.
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 discover ies 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 statementsmade in this news release are qualified by these cautionary statementsand those 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 the financial support ofthe Junior Exploration Assistance Program from the Department ofNatural Resources, Government of Newfoundland and Labrador.
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