Toronto, Ontario--(Newsfile Corp. - July 15, 2024) - Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to announce initial results from recent diamond drilling operations at the Company's Bullseye property, located along the Appleton Fault Zone ("AFZ") in Central Newfoundland. Results from the initial three drill holes have been received with assay values of up to 254.08 g/t Au over 0.80 m. This newly discovered mineralized zone has been named the "Saddle Zone."
The Saddle Zone is located in the vicinity of the Company's hole # BE-23-028, where several clusters of quartz veining were intersected over approximately 18 m of core (see news release dated August 14, 2023). Visible gold was observed within a network of quartz veins in drill hole BE-24-015 (see Photo A) with best reported assay value of 67.55 g/t Au over 3.30 m, which was drilled northwestwards across the previous path of hole BE-23-028.
Highlights Include:
BE-24-015:
Intersected 67.55 g/t Au over 3.30 m core-length from a swarm of quartz veins where multiple flecks of visible gold were observed, located at a vertical depth of approximately 85 m below surface.
Including 254.08 g/t Au contribution from a 0.80 m sample.
Intersected 2.89 g/t Au over 3.55 m core-length, located at a vertical depth of approximately 80 m below surface.
Including 15.05 g/t Au contribution from a 0.45 m sample.
BE-23-014:
Intersected 53.37 g/t Au over 0.60 m core-length, located at a vertical depth of approximately 141 m below surface.
Intersected 32.71 g/t Au over 0.40 m core-length, located at a vertical depth of approximately 164 m below surface.
BE-24-013:
Intersected 35.82 g/t Au over 0.90 m core-length, located at a vertical depth of approximately 105 m below surface.
Including 78.99 g/t Au contribution from a 0.40 m sample.
The Saddle Zone appears to remain open in all directions.
Jeff Swinoga, President and CEO, comments, "On our first three drill holes, we are very excited to hit high grade gold intercepts with visible gold readily observed. Our team first discovered the mineralization of this northeast interpreted splay branching off the Appleton Fault when our drill program last year reported gold intercepts in holes 28 and 30 that appeared to line up. After completing a deep dive analysis into all available geological and technical information, ranking numerous opportunities and using televiewer to assist in drill design orientation, we announced this focused drill program, and we are very encouraged by its early results.
With 10 kms of claims on the Appleton Fault Zone, a talented all local team based in historic Gander, Newfoundland (a 30-minute drive to our project), available infrastructure, well-funded and large supporting shareholders such as Eric Sprott and New Found Gold, our goal is to be the next large successful gold exploration company in the beautiful province of Newfoundland and Labrador."
Photo A: Photos of mineralization intersected in BE-24-015; Top: Drill core from 119.50 - 123.34 m downhole, RED box indicates sample that yielded 254.08 g/t Au from 121.15 - 121.95 m (0.80m); Bottom: Visible gold observed within sample listed above (note that these photos are not intended to be representative of gold mineralization in BE-24-015.).
Figure 2: Cross section (looking north) of Phase 3 drilling at Bullseye; large discs indicate assay values (Au g/t) from current release; small discs indicate previously releases assay values in drill hole BE-23-028.
*Assays reported direct from lab certificate. Screen-Met samples are 'Weighted Averaged ppb' as calculated from lab
Note: All intersections are core intervals and do not represent true thickness
Table 2: Drill collar data.
Bullseye - Collar Information for Reported Drill Holes
Hole ID
Easting
Northing
Elevation (m)
Azimuth
Dip
Length (m)
BE-24-013
659717
5430570
48
315
-45
256
BE-24-014
659738
5430593
47
310
-55
298
BE-24-015
659748
5430535
49
275
-50
253
Coordinates Reported in NAD-83
Bullseye Gold Property
The Bullseye claims were staked by Exploits in September 2022 and are contiguous to New Found Gold Corp.'s Queensway project. The claims are considered by the Company's geologists to be highly prospective because they directly overlay a 1,200 by 800 m segment of the AFZ and its related splay structures.
Quality Assurance - Quality Control ("QA/QC")
All prospective NQ core is logged and delineated for sampling by an Exploits' professional geologist. The core is subsequently halved by a diamond-bladed core saw by the Company's technicians with one half being placed in a bag with a unique sample identification. The remaining half core is retained within the Company's secure storage facility in Gander, NL. Sample bags are sealed and then shipped directly to Eastern Analytical Ltd. Certified standards and blanks are inserted at defined intervals following the Company's QA/QC documented procedures, representing approximately 5% of all samples sent for assaying. All core samples are currently analyzed at Eastern Analytical Ltd. of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Exploits. Samples are analyzed using fire assay (30g) with AA finish (Au-FAA 30 ppb process) and/or a four-acid digestion followed by multi-element ICP-OES analysis. All samples with visible gold or assaying above 10.0 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Metallic screen assays are reported as 'Weighted Averaged ppb' directly calculated from the lab.
National Instrument 43-101 Disclosure
Ken Tylee, P.Geo., VP of Exploration with Exploits, is a qualified person within the Provinces of Ontario and Newfoundland and Labrador as defined by NI 43-101 standards. Mr. Tylee has reviewed and approved the technical information presented herein.
About Exploits Discovery Corp.
Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. Exploits is utilizing its experienced, talented local team and geologic understanding with the vision to become one of the most successful explorers in Canada.
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Acknowledgments
Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.
