Toronto, Ontario--(Newsfile Corp. - August 27, 2024) - Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to report assay results from the remaining three diamond drill holes recently completed at the Saddle Zone situated within the Company's Bullseye property.
The Saddle Zone is in the vicinity of the Company's drill hole # BE-23-028, near the Appleton Fault Zone (AFZ) in Central Newfoundland. In 2023, Exploits' drilling program intersected several clusters of quartz veining within an 18 metre interval of core (refer to hole # BE-23-028 assays within a news release dated August 14, 2023). In June 2024, follow-up drilling encountered coarse visible gold in hole BE-24-015 which generated a 254.08 g/t Au intercept over a 0.8 m core sample (see Press Release dated July 15, 2024). Drill holes BE-24-022 and 023 were designed to extend the mineralization intersected in hole BE-24-015 along strike and provide additional lateral continuity to the mineralized zone. BE-24-024 was designed to test the potential connection of the mineralization intersected in drill holes BE-24-013 and 014 with BE-24-015.
Highlights Include:
BE-24-022:
Intersected 1.60 g/t Au over 2.05 m core-length, located at a vertical depth of approximately 73 m below surface.
Including 1.26 g/t Au contribution from a 0.65 m sample
Including 1.76 g/t Au contribution from a 1.40 m sample
Intersected 3.92 g/t Au over 0.45 m core-length, located at a vertical depth of approximately 84 m below surface.
BE-24-024:
Intersected 1.48 g/t Au over 0.65 m core-length, located at a vertical depth of approximately 165 m below surface.
Intersected 3.68 g/t Au over 0.50 m core-length, located at a vertical depth of approximately 166 m below surface. Fine-grained visible gold noted.
Drill holes within the Saddle Zone are currently being surveyed by DGI Geoscience with their proprietary downhole Televiewer tool to assist with the final structural-orientation interpretation of this zone.
Current interpretation of 2023-2024 logging observations and these assay results suggest that the Saddle Zone remains open in all directions.
Jeff Swinoga, President and CEO, comments, "We are pleased that our Phase 3 drill program discovered a new gold zone which we have called Saddle. These remaining drill results confirm the gold mineralization system extends beyond the previously reported central high grade gold mineralization that reported initial results of 67.55 g/t gold over 3.3 metres.
Our all-local talented team are now focused on designing follow-up drill plans utilizing their logging insights coupled with downhole Televiewer data. Meanwhile, to the north, our till-sampling program at our large Gazeebow property is 80% complete. Results from this program are expected in the coming months. With 10 kms of claims on the Appleton Fault Zone, we remain well-funded with 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."
Figure 1: Plan map of Bullseye property; recent collars from drilling at the Saddle Zone are shown in red; previously released drill-collars shown in white.
Figure 2: Simplified cross section (looking north) of drilling at the Saddle Zone. The plotted large discs with corresponding yellow text indicate assay values (Au g/t) from current release; white text are results from past 2024 releases. The smaller discs indicate previously released assay values encountered in drill hole BE-23-028.
Table 1: Select drill core assays. Additional samples are being collected.
2024 Bullseye Drilling - Selected Assays
Hole ID
From (m)
To (m)
Length (m)
Vertical Depth (m) Below Surface
Analysis Type
Au Assay (ppb)*
Au Assay (g/t)
Au - Weighted Average Grade (g/t )*
Comments
BE-24-022
94.00
94.65
0.65
~73m
Fire Assay
1,260.00
1.26
1.60 g/t Au / 2.05m
94.65
96.05
1.40
1,757.00
1.76
AND
111.85
112.30
0.45
~84m
Fire Assay
3,918.00
3.92
BE-24-023
NSV
BE-24-024
242.60
243.25
0.65
~165m
Screen-Met
1,475.00
1.48
AND
244.20
244.70
0.50
~166m
Screen-Met
3,684.00
3.68
VG NOTED
*Assays reported direct from lab certificate. Screen-Met samples are 'Weighted Averaged ppb' as calculated from lab
**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-24-022
659744
5430542
48
285
-50
243
BE-24-023
659753
5430542
49
255
-45
250
BE-24-024
659761
5430561
48
295
-50
314
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.
