(TheNewswire)
Vancouver, British Columbia - TheNewswire – April 21 st ,202 1 - Exploits DiscoveryCorp. (“Exploits” or the “Company”) (CSE:NFLD)(OTCQB: NFLDF ) (FSE:634-FF) (CNSX:NFLD.CN) is pleasedto announce that the Company has received full permitting from the Newfoundland and Labrador Government fordrilling the Quinlan Vein p rospect at the Dog Bay Gold Project,Newfoundland.
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- Exploits has received diamond drilling permits for Nine holes totaling ~2,250metres at the Quinlan Vein prospect, DogBay.
- The drill program will focus on intersectingmineralization in the subsurface coinciding with high grade visiblegold (up to 61.3 g/t Au) in several stacked 0.50 to 0.70 metre quartzveins. Visible gold can beseen exposed at surface within these veins; stacked across a width of25m and a strike length of 20m before divingunder overburden and remains open in all directions.
- The company is fully funded for its 12,000m springand summer drill programs and has received drill permits for four outof five targets; True Grit, Schooner, Quinlan Veins, and LittleJohanna with one application pending for the Jonathan’s Pondproject.
Michael Collins, President and Chief Executive Officerof Exploits, commented: “With the drill permit now secured for ourQuinlan Vein prospect, Exploits is pleased to now have received fourof its five drill applications. The Quinlan Vein prospect is animpressive piece of land with high grade, visible gold samples atsurface and we are looking forward to unlocking its potential with thedrill. Our 2021 exploration plans are taking shape with boots on theground work to refine these targets, culminating in our Phase I drillcampaign in May.”
Exploits has identified five discrete targets acrosstheir projects within the Exploits Subzone that are near drill readystatus. These targets are the Quinlan Veins, True Grit, Little JoannaVeins, Schooner, and Jonathan’s Pond. To date, drill permits havebeen approved for the Quinlan Veins, little johanna, Schooner, andTrue Grit prospects totalling 33 holes for a combined length of ~8,250metres.
One drilling application is still pending and isexpected to be through the approval process shortly.
2021 Diamond Drill Permit Locations
Figure 1: Mapof the Exploits Discovery claim boundaries with the location of theapproved Quinlan Veins, Little J o hanna, True Grit and Schooner drill permits, as well as thelocation for the Jonathan’s Pond drill applications .
Nine holes (2,250m) were approved for the Quinlan Veinprospect, targeting quartz veins with visible gold at surface,returning assays of up to 61.3 g/t Au and 189 g/t Ag. The QuinlanVeins are several 50 to 70 centimetre-wide quartz veins over a 25mwide zone, currently running 5 to 20 metres in strike length beforediving under overburden cover. Visible gold was discovered as finegrains in crack seal fractures and as fine to coarse grainsdisseminated in the quartz veins. Structurally,the veins are situated within secondary fault structures, associatedwith the Appleton Fault zone, that were highlighted by GoldSpotDiscoveries’ (TSX.V: SPOT) (“Goldspot”) geophysical analysis.The Quinlan Vein targets are deemed analogous to New Found Gold’sKeats Zone due to the similarities in structural control andlithological host units.
Figure 2: Geologic map of the Quinlan Veins prospect with proposeddrill collars and identified gold in quartz veins (pink lines) andlocations where samples up to 61.3 g/t Au were collected. The veinsare believed to be associated with the Appleton Fault zone and its secondary fault splays, withthe intersection identified by Goldspot being a high priority targetas well.
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 discoveries suchas New Found Gold's 2019 discovery of 92.86 g/t Au over 19.0 metres near the surface . TheExploits Subzone and GRUB regions have been the focus of major stakingand financing 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'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.
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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