Toronto, Ontario--(Newsfile Corp. - May 1, 2024) - Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to announce that it has engaged HiSeis, an industry leader in hard rock seismic surveys, for the interpretation of the seismic dataset on its Bullseye gold property in Central Newfoundland. This data was provided by the Company's neighbour, New Found Gold Corp. ("NFG"), in March 2024 in exchange for permissions to extend their survey lines through the Bullseye claims. NFG's aggressive 3D seismic survey covered 47km2 of its Queensway North project area that straddles the Appleton structural zone where seven high-grade gold discoveries have been announced over the past 16 months. The Company anticipates the seismic interpretation will be completed by this summer.
Ron Schop, CEO of HiSeis, stated, "We are excited to be working with Exploits at its Bullseye property, with the goal to extract maximum value from the 2D and 3D seismic data that we acquired last year. Seismic is the only geophysical method today that can effectively produce subsurface data at the scale required to understand the deeper structures that drive mineralization in proximity to the Appleton fault. We will be using our EpiCentre platform to combine all the common datasets and efficiently and effectively interact with the talented exploration team at Exploits."
Jeff Swinoga, Chief Executive Officer, commented, "Engaging the same reputable consultants as NFG underscores our commitment to leveraging top-tier expertise. The seismic data holds promise in revealing potential deep-seated structures beneath our Bullseye gold property that may have the potential to host localized high-grade gold mineralization. HiSeis is in the process of incorporating all relevant geophysical information as well as the geological and assay data generated from over 13,000 metres of diamond drilling data completed at Bullseye since 2023. The forthcoming interpretation will be valuable in designing drill programs for greater exploration success at depth within the four target areas recently announced at Bullseye. We will also continue to refine our search for high grade gold mineralization at our large Gazeebow South property further north along the Appleton Fault Zone."
Figure 1: Property-scale map showing coverage of the 2023 seismic survey conducted by NFG over a portion of Exploits' Bullseye exploration property (noted in yellow).
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.
About HiSeis
HiSeis is a mining technology company and a specialized global leader in integrated hard rock seismic solutions. HiSeis provides a full end-to-end service from design & acquisition of 2D and 3D seismic surveys, to advanced processing and geological interpretation of the subsurface. HiSeis has completed 150+ seismic surveys across four continents over the last 12 years, with an established client base of over 50 customers, ranging from multinational mining companies to local junior explorers.
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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.
