(TheNewswire)
Vancouver, British Columbia - TheNewswire - March3 rd ,202 1 - Exploits DiscoveryCorp. (“Exploits” or the “Company”) (C NSX : NFLD . CN ) (OTC : RNRRF) (FSE: 634-FF) is pleased to announce the Company has submitteddrill permit applications for 4,500 metres of drilling at the Little Joanna and Quinlan Veinprospects within the Dog Bay Gold Project, Newfoundland.
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- Exploits has planned andsubmitted diamond drilling applications for 18 holes totaling alength of 4,500metres across the Little Joanna Veins andQuinlan Veins prospects.
- 9 holes (2,250m) atthe Little Joanna Veins, 9holes (2,250m) at the Quinlan Veinsprospects.
- The diamond drill applicationsare in addition to the applications submitted at the Schooner andJonathan’s Pond prospects, totalling 10,500m over 33 holes across 4prospects.
- Exploits drilling placementfollows on the same targeting techniques used by New Found Gold Corp.in the discovery hole at the Keats Zone (19m of 94g/t Au) targetingsecondary and tertiary displacement structures that are thought to beresponsible for gold mobilization and concentration in the ExploitsSubzone*.
* sampling on adjacent properties may not berepresentative of results from Exploits claims .
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- Exploits inaugural drillingprograms are to commence pending approval in Spring 2021.
Michael Collins, President and Chief Executive Officerof Exploits, commented: “The successful sampling campaign Exploitsconducted in late 2020, coupled with the efforts of our inhouse teamand partner GoldSpot Discoveries, has doubled our tier one drilltargets to four across our projects in the Exploits Subzone. TheExploits team is excited to refine each high value target for drillingprograms as we drive towards discovery in 2021.”
2021 Diamond Drill PermitLocations
Figure 1: Mapof Exploits Discovery claim boundaries with the location of the LittleJoanna Veins, Quinlan Veins, Schooner, and Jonathan’s Pond drillpermit application areas.
Figure 2: Preliminary drill plan for the Little Joanna Veins prospecttargeting the visible gold bearing quartz veins as well as theinterpreted structural intersection between secondary and tertiarydisplacement faults, highlighted by blue circles.
Figure 3: Preliminary drill plan for the Quinlan Veins prospecttargeting the visible gold bearing quartz veins and interpretedstructural intersection between the Appleton Fault and a secondarydisplacement fault.
About 2021 Diamond Drilling
Exploits has identified 2 discrete targets, in additionto the 2 targets previously announced on February 2 nd , within theDog Bay Gold Project that are nearing drill ready status. Thesetargets are the named the Little Joanna Veins and Quinlan Veinsprospects. Drill permits have been submitted for each prospecttotalling 18 holes for a combined length of 4,500 metres. 9 holes(2,250m) have been applied for at the Little Joanna Veins, targetingquartz veins with visible gold at surface that assayed up to 194 g/tAu. These veins are interpreted to be structurally controlled by aregional secondary, sub-parallel to the deep-seated Dog Bay Line faultzone, and an approximately 2 km long tertiary displacement fault,named the Little Joanna Fault. 9 holes (4,500m) were applied for atthe Quinlan Vein prospect, targeting quartz veins with visible gold atsurface, returning assays of up to 61.3 g/t Au and 189 g/t Ag. Theseveins are also interpreted to be structurally controlled by a regionalsecondary fault structure, stemming from the deep-seated AppletonFault zone. Additional targets are located at the interpretedintersection of the aforementioned faults,testing possible structural dilations suitable for the deposition ofgold. Both the Little Joanna Veins and Quinlan Veins targets aredeemed analogous to New Found Gold’s Keats Zone due to thesimilarities in structural control and lithological host units.
While the permitting applications are being reviewed,Exploits plans to refine each target with follow up field work. Groundgeophysics, outcrop mapping, and trenching are being planned tofine-tune each target to be drill ready once the permits have beenapproved.
The Little Joanna Veins and Quinlan Veins are locatedwithin a series of claims optioned from Eddie and Roland Quinlan, (the“Quinlan Option”), on August 20, 2020 where Exploits can earn a100% interest by paying $220,000 cash andissuing a further 2.5 million common shares and $560,000 in eithercash 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 nugget effect of coarse gold ,( Nugget effect maycause a significant spread in resulting assayvalues using a 30 gram fire assay) . Samples inthis report were run for Ore Grade Assay withmulti-acid digestion with AA finish for samples above detection limitfor silver.
National Instrument 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.
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 discovery such as New Found Gold's 2019 discovery of 92.86g/t Au over 19.0 metres near surface. The Exploits Subzone and GRUBregions have been the focus of major staking andfinancing 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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