(TheNewswire)
Vancouver, British Columbia - TheNewswire - December 15 th , 2021- Exploits Discovery Corp. (“Exploits” or the“Company”) (CSE:NFLD) (CNSX:NFLD.CN) (OTC: NFLDF ) (FSE:634-FF) is pleased to announce assays resultsare starting to be received from its Exploits Subzone drill program.
The Company received results and completed initial analysis on 6 ofits 13 hole, 2,235 metre exploration program at the Quinlan VeinsProject so far with one notable intersection of 8.69 g/t Au over 0.45m* at 11 meters downhole in drill hole QV-21-009. Drill HolesQV-21-01, -04,- 05, -06, -07 did not return significant gold assays.
The Company plans to release detailed results and analysis on Schoonerand Jonathans Pond once a sufficient quantity of assays have beenreceived.
The drill has moved to the Little Joanna Project where drilling istesting an interpreted secondary fault, identified from geophysics byGoldspot Discoveries, this structure is interpreted to be a splay offthe Dog Bay Line. Surface samples collected for Exploits in this areareturned grades ranging from up to 194 g/t Au (with visible gold) totrace (Feb. 16 th release). Going forward, the company intends to drill the True Grit-Grub linetarget, its targets on the Appleton Fault in the Port Albert Peninsulaand continue regional exploration to develop additional drill targetsnext year.
President and CEO Jeff Swinoga states, “We are pleased to commencethe reporting of our initial assay results for Quinlan and we lookforward to updating investors on each of our numerous targets on ourlarge land package around New Found Gold. Our local team, GoldspotDiscoveries and our technical advisory board are fully engaged in theassessment of our data and assay results as they trickle in. Asexperienced by other exploration companies in the area, it takes timeto go from seeing gold in outcrop to defining ‘Discovery grade’assays in drilling. We look forward to an exciting 2022 as we look tobecome the next major exploration success in the Exploits Subzone,Central Newfoundland.”
Quinlan Veins Drilling
The Quinlan Veins drilling area is located within the Dog Bay GoldProject at the northern extent of the Exploits Subzone. 2021 drillingwas planned to test the down dip and strike extension of multiple 50to 70 cm wide mineralized outcropping quartz veins that producedhigh-grade grab samples (up to 61.3 g/t Au, Feb. 9 th release). Drill resultsindicate that some vein intersections display similar orientations tothe interpreted north-to-north northwest trending geophysicallineaments identified from ground magnetic geophysical interpretation.
13 drill holes were completed at the Quinlan Veins totaling 2,235metres. All drill holes intersected siliciclastic sand/siltstone andfelsic volcanic units with rare occurrences of felsic dykes.Sedimentary units display a general northwest-southeast trendingbedding shallowly dipping to the southwest. Quartz veining was sparsewith the most significant intersections (10 – 67 cm wide*) observedin drill holes QV-21-002, QV-21-009, QV-21-010, QV-21-011, andQV-21-012.
The mineralized quartz vein intersected in QV-21-009 is interpreted tobe the down dip extension of the outcropping quartz vein observed tothe west of the drill collar. Structural measurements taken fromQV-21-002 (assays pending) and QV-21-009 indicate a correlationbetween moderate to steeply dipping veins intersected in these holes.Quartz vein intersections observed in QV-21-011 (assays pending) andQV-21-013 (assays pending) provide additional evidence for thepotential strike extension of the intersected quartz vein ( Figure 1 ).
Figure 1: Plan view of the Leapfrog model showing the interpretedquartz vein orientation.
Future exploration programs will be focused in areas requiring furtherfield work as well as delineating the extent of the preliminaryinterpreted trend identified from drill holes QV-21-009 and QV-21-002.
Quality Assurance – Quality Control(“QA/QC”)
All HQ core is sampled, cut by core saw, and split by companypersonnel then put into bags with unique sample tags foridentification. The bags are sealed with a security tag and thenshipped directly to Eastern Analytical Ltd. Standards and blanks areinserted at defined intervals for QA/QC purposes by the Company,representing approximately 5% of all samples sent for assay. All coresamples are analyzed at Eastern Analytical Ltd. of 403 Little BayRoad, Springdale, NL, a commercial laboratory that is ISO/IEC 17025accredited and completely independent of Exploits Discovery Corp.Samples are analyzed using fire assay (30g) with AA finish and anICP-34, four acid digestion followed by ICP-OES analysis. All sampleswith visible gold or assaying above 1.00 g/t Au are further assayedusing metallic screen to mitigate the presence of the nugget effect ofcoarse gold.
National Instrument 43-101 disclosure
Peter McIntyre, P.Geo., Senior Geologist at GoldSpot DiscoveriesCorp., and a consultant to the company, is a qualified person asdefined by NI 43-101. Mr. McIntyre has reviewed and approved thetechnical information presented herein.
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral exploration company focusedon the acquisition and development of mineral projects inNewfoundland, Canada. The Company currently holds the Jonathan'sPond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend, andGazeebow projects covering approximately 2,000 square kilometres ofmineral tenements. The 50% owned PB Hill projects syndicate covers anadditional area of almost 2,000 square kilometres.
Exploits believes that the Exploits Subzone Gold Belt, which runs200 kilometres 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 results including New Found Gold's 2019 discovery hole. TheExploits Subzone and GRUB regions have been the focus of major stakingand financing since late 2019.
The team at Exploits, with significant local experience and knowledge,have studied the entirety of the Exploits Subzone and surroundingregions, and have picked individual land packages for staking or jointventures, where there are opportunities for world class discoveriesand mine development. Exploits intends to leverage its local team andthe larger shift in geologic understanding and become one of the mostextensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Jeff Swinoga"
President and CEO
For further information, pleasecontact:
Jared Rushton
(778) 819-2708
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 the financial support ofthe Junior Exploration Assistance Program from the Department ofNatural Resources, Government of Newfoundland and Labrador.
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