(TheNewswire)
Vancouver, British Columbia - TheNewswire - March 18, 2022 - ExploitsDiscovery Corp. (“Exploits” or the “Company”) (C NSX :NFLD. CN ) (OTC:NFLDF) (FSE:634-FF) is pleased to announce thatit has received initial assay results from its Jonathan’s PondTarget and the remaining assays from its Quinlan Veins Target.
President and CEO Jeff Swinoga comments, “These assayresults are an encouraging start to understanding the potential ofthese targets as well as similar targets on our large land package.For Jonathan’s Pond, the western extension of the near-surface goldmineralization intersection is coincident with gold samples collectedfrom trenching performed in 2020. These initial drilling results willinform our follow-up exploration plans for the areas that are open tothe west of Jonathan’s Pond and to the north of Quinlan Veins.”
HIGHLIGHTS:
-
Exploits have received fire assay results for 16 of the 21 drill holesat Jonathan’s Pond. Drill hole JP-21-019 intersected 4.5 m* of nearsurface mineralization averaging 1.57 g/t Au from 16 to 20.5 mdownhole; Identified potential mineralized trend which is open to thewest.
-
All Quinlan Veins assay results have been received. While these recentassay results did not add significant intersections to the previouslyreported 8.69 g/t Au over 0.45 m* the mineralized possible mineralizedtrend remains open and untested to the north.
President and CEO Jeff Swinoga further commented,“Once all ICP data has been received and a dditional detailed geochemical interpretation is reconciledwith these drilling results we will prioritizeadditional targeting signatures at Jonathan’s Pond. We are pleasedto see our assays results coming in at a faster pace and are hopefulthat we will be able to report results from our Schooner North,Schooner South, Little Joanna and remaining Jonathan’s Pond targets soon. Inthe near term, we will be updating investors on our extensiveexploration plans this year, including several new targets. We havebeen gearing up our exploration program and team to match thetremendous potential we see at our properties.”
Jonathan’s Pond:
The 2021 drilling program at the Jonathan’s Pond Project tested thedown dip extension of the known mineralized quartz vein systemidentified by prospecting, and subsequently uncovered during its 2020trenching program. Drilling also tested anomalous signaturesidentified from the Company’s 2020 SGH soil programs.
Exploits has received gold fire assay results for 16 of 21 holes andICP-34 results for 15 of 21 holes from the 2021 Jonathan’s Ponddrill program. Fire assay results for holes JP-21-013, JP-21-014,JP-21-015, JP-21-018, and JP-21-020 are pending.
Highlights of recently received drill core assays for the Jonathan’sPond Project are summarized in Table 1 below and depicted spatially inFigure 1.
Drill hole JP-21-019, was collared to specifically test the down dipextension of 5 m ~east-west trending quartz veins with anomalous goldand visible pyrite and arsenopyrite. A 4.5 m* section of core from 16to 20.5 m averaged 1.57 g/t Au. Mineralization in the drill coreoccurs within a series of subparallel quartz veins, up to 7 cm widehosted within gabbro and containing associated pyrite andarsenopyrite. This intersection is interpreted as being coincidentwith the anomalous gold samples collected from the 2020 surfacetrenching program. Based on the 2020 trenching and these results, thispotential mineralized trend remains open to the west and is largelyuntested.
Drill holes JP-21-001 to JP-21-017 were designed to test the down dipextension of lower order east-west trending quartz veining, locatedadjacent to the northeast-southwest trending main vein (the “MainVein”), which produced grab samples containing visible gold andreturned fire assays of up to 28 g/t Au. It was noted in these drillholes that sulphide mineralization, including arsenopyrite + pyrite ±chalcopyrite, was concentrated along the lower contact of the MainVein. XRF analysis confirmed the presence of elevated arsenic ±antimony, which are typical pathfinder elements for targeting goldmineralization, along this lower contact, which influenced drillingfollowing along the northeast trending section of the Main Vein.Near-surface mineralization intersected in drill holes JP-21-016A andJP-21-017 indicates a potential mineralized trend which is open to theeast.
Drill holes JP-21-013, JP-21-014, JP-21-018, and JP-21-020 weredesigned to test significant SGH Au anomalies to the southwest andnorth of the Main Vein identified from SGH soil sampling performed byExploits in 2020. JP-21-013 and JP-21-014 also undercut previousdrilling to provide additional geometric controls of the quartz veinsystem. Assays remain outstanding for these noted holes.
Additional detailed geochemical interpretation will be performed onceall ICP data has been received to further define anyadditional targeting signatures .
All notable assays received to date for Jonathan’s Pond aresummarized in the Table 1 below. All remaining returned assays notlisted below are considered to be of non-significant values:
Jonathan's Pond | ||||
Hole_ID | From (m) | To (m) | Interval (m)* | Au (g/t) |
JP-21-001 | 12.3 | 12.7 | 0.4 | 1.36 |
JP-21-005 | 135.0 | 136.0 | 1.0 | 1.55 |
JP-21-012 | 64.0 | 65.5 | 1.5 | 1.44 |
JP-21-016A | 24.7 | 25.3 | 0.5 | 0.81 |
JP-21-017 | 22.3 | 22.9 | 0.6 | 0.51 |
JP-21-019 | 16.0 | 20.5 | 4.5 | 1.57 |
Including | 16.0 | 17.0 | 1.0 | 3.08 |
Including | 17.0 | 18.0 | 1.0 | 2.07 |
Including | 19.0 | 20.0 | 1.0 | 1.14 |
Including | 20.0 | 20.5 | 0.5 | 1.36 |
*All intersections are core intervals and do notrepresent true thickness |
Table 1: Jonathan’s Pond drilling highlights.
Figure 1: Notable assay results fromthe 2021 Jonathan’s Pond drill program.
Quinlan Veins:
All assays for the 2021 drill program at the QuinlanVeins have now been received.
As previously discussed in the Company’s December 15 th , 2021 news release, there is a correlation betweenthe mineralization noted in drill holes QV-21-009 and QV-21-013,indicating a possible mineralized trend open to the north (Figure 2);however, detailed geochemical interpretation will be necessary todetermine any additional signatures and targets.
All notable assays received to date for the QuinlanVeins are summarized in Table 2 below. All remaining returnedassays not listed below are considered to be of non-significantvalues :
(Note: 21-QV-009 previously released)
Quinlan Veins | ||||
Hole_ID | From (m) | To (m) | Interval (m)* | Au (g/t) |
QV-21-009 | 12.55 | 13.0 | 0.45 | 8.69 |
QV-21-012 | 46.6 | 47.7 | 1.1 | 1.06 |
AND | 68.6 | 69.8 | 1.2 | 0.53 |
QV-21-013 | 85 | 85.5 | 0.5 | 0.54 |
* All intersections are core intervals and do notrepresent true thickness |
Table 2: Quinlan Veins drilling highlights.
Click Image To View Full SizeInserting image...
Figure 2: Notable assay results fromthe 2021 Quinlan Veins drill program.
Details for all holes reported in the release are listed in Table 3below:
Hole_ID | Target Area | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N |
JP-21-001 | Jonathan's Pond | 340 | -45 | 156 | 677406 | 5439805 |
JP-21-002 | Jonathan's Pond | 340 | -45 | 199 | 677434 | 5439798 |
JP-21-003 | Jonathan's Pond | 340 | -45 | 184 | 677394 | 5439791 |
JP-21-004 | Jonathan's Pond | 340 | -45 | 289 | 677415 | 5439777 |
JP-21-005 | Jonathan's Pond | 340 | -45 | 274 | 677384 | 5439759 |
JP-21-006 | Jonathan's Pond | 340 | -65 | 148 | 677384 | 5439759 |
JP-21-007 | Jonathan's Pond | 0 | -45 | 160 | 677384 | 5439759 |
JP-21-008 | Jonathan's Pond | 340 | -45 | 304 | 677368 | 5439745 |
JP-21-009 | Jonathan's Pond | 340 | -45 | 229 | 677348 | 5439731 |
JP-21-010 | Jonathan's Pond | 340 | -45 | 220 | 677466 | 5439813 |
JP-21-011 | Jonathan's Pond | 340 | -45 | 103 | 677483 | 5439819 |
JP-21-012 | Jonathan's Pond | 270 | -45 | 259 | 677483 | 5439819 |
JP-21-016 | Jonathan's Pond | 340 | -45 | 19.5 | 677520 | 5439841 |
JP-21-016A | Jonathan's Pond | 340 | -45 | 220 | 677519 | 5439841 |
JP-21-017 | Jonathan's Pond | 315 | -45 | 247 | 677520 | 5439841 |
JP-21-019 | Jonathan's Pond | 135 | -45 | 236 | 677309 | 5439832 |
QV-21-001 | Quinlan Veins | 270 | -45 | 250 | 680875 | 5489920 |
QV-21-002 | Quinlan Veins | 270 | -45 | 310 | 680923 | 5489925 |
QV-21-003 | Quinlan Veins | 270 | -45 | 247 | 680897 | 5489875 |
QV-21-004 | Quinlan Veins | 270 | -45 | 52 | 680876 | 5489903 |
QV-21-005 | Quinlan Veins | 270 | -65 | 73 | 680877 | 5489903 |
QV-21-006 | Quinlan Veins | 270 | -45 | 49 | 680879 | 5489925 |
QV-21-007 | Quinlan Veins | 270 | -65 | 67 | 680880 | 5489925 |
QV-21-008 | Quinlan Veins | 90 | -45 | 21 | 680860 | 5489924 |
QV-21-009 | Quinlan Veins | 285 | -45 | 216 | 680885 | 5489965 |
QV-21-010 | Quinlan Veins | 290 | -45 | 223 | 680855 | 5489867 |
QV-21-011 | Quinlan Veins | 90 | -45 | 238 | 680849 | 5489901 |
QV-21-012 | Quinlan Veins | 90 | -45 | 191 | 680824 | 5489901 |
QV-21-013 | Quinlan Veins | 285 | -45 | 298 | 680920 | 5490010 |
Table 3: Details of drill holes reported in this release. Coordinatesare NAD83-Z21N.
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 10% 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 GoldSpotDiscoveries Corp., and a consultant to the company, is a qualifiedperson as defined by NI 43-101. Mr. McIntyre has reviewed and approvedthe technical information presented herein.
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 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 GoldBelt, which runs 200 kilometres from Dog Bay southwest toBay d'Espoir, has been neglected since the last major explorationcampaigns in the 1980s. The last 40 years have seen incrementaladvancements in the understanding of gold mineralization in the camp.The sum of this knowledge is now coming together in discrete andeffective exploration models that have delivered results including NewFound Gold's 2019 discovery hole. The ExploitsSubzone has been the focus of major staking and financing since late2019 with high grade gold discoveries by Newfound Gold and LabradorGold as well as advanced resource development by SokomanMinerals.
The team at Exploits, with significant local experienceand knowledge, have studied the entirety of the Exploits Subzone andsurrounding regions, and having picked individual land claims forstaking, purchase or joint ventures, have developed a land packagewhere there are opportunities for world class discoveries and 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
Neither the Canadian Securities Exchange nor itsRegulation Service Provider (as the term is defined in the policies ofthe Canadian Securities Exchange) accepts responsibility for theadequacy of accuracy of this news release.
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.
Copyright (c) 2022 TheNewswire - All rights reserved.