ancouver, British Columbia --News Direct-- Exploits Discovery Corp.
Exploits Discovery Corp.
Vancouver, British Columbia - TheNewswire - October 26th, 2021 - Exploits Discovery Corp. (“Exploits” or the “Company”) (CNSX:NFLD.CN) (OTC:NFLDF) (FSE:634-FF) is pleased to announce the Company has started Phase II drilling on the Schooner Fault. Work continues on analysis of VTEM data which has now been acquired across almost all of Exploits exploration ground in Newfoundland. Three additional high priority target areas have been chosen for drill permitting on the northern end of the Appleton Fault.
Highlights
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- Exploits has completed 4,470 m of drilling at Jonathan’s Pond for a total of 21 drill holes on the JP Vein where there is visible gold in outcrop with assays of up to 24 g/t Au.
- Exploits has started Phase II drilling with a target of 6 drill holes and 3,000 m of drilling at Schooner North and 10 drill holes and 2,500 m of drilling at Schooner South.
- Exploits has started site preparation work for drilling at Little Joanna high grade targets where there is visible gold in outcrop with assays of up to 194 g/t Au.
- Based on new VTEM and ground magnetics data, integrated into the prospecting work completed in the last year, the Company is initiating permitting on Appleton Fault drill targets Duder Lake, Titan South and Appleton North central targets.
President and CEO Jeff Swinoga comments, “While we are still waiting on assay results from Phase I Schooner drilling, the oriented core logging data from the Phase I drill allows us to start our follow up in advance of receipt of assays. The Company is excited to start to see the synthesis of the geophysics and field work producing new targets on the Appleton Fault while we wait for assay results from current drilling.”
Schooner Fault Drilling
The Schooner Fault Zone was identified in early 2021 through historical compilation work of historic till samples, re-interpretation of regional magnetic geophysics, and Exploits’ partner GoldSpot Discoveries Corp.’s (TSXV: SPOT) data analysis techniques. The results delineated a fault structure with coincident gold in till samples trending parallel to the Appleton Fault, approximately 3.5 km to the east, that hosts New Found Gold’s Keats, Lotto, and Knob gold discoveries. Phase II was planned following detailed analysis of the geophysical data and drill core information from the Phase I program.