RE:RE:RE:RE:Exploits Discovery Receives Final Permits For 2021 Drill Prolifegoeson wrote: Teakbois, there are certainly buyers around today. I was talking with someone who said they used the same technology used to disover Keats on the NFG property as they used to find the targets for Schooner. Below is a copy of the press release from April 15. They even state it at the bottom. There must have been a reason for Sprott to take the entire last placement of $4.1 M.... not too mention the visible gold at the surface in 3 of 5 of their now permitted target.
- Exploits has signed a 7,500-metre drilling contract with the option to expand it to 13,500 metres.
- The company has been granted three of five drill permit applications including: Schooner, Little Joanna and True Grit, and expects to receive the Quinlan vein and Jonathan's Pond permits shortly.
- Three of the five drilling targets host visible gold at surface with high-grade assays up to 194 grams per tonne gold.
- True Grit has grades of up to 16 g/t Au in outcrop and 30 g/t Au in float boulders with widespread low-grade mineralization.
- The Schooner target was developed by Goldspot's machine-learning program, which has a proven record for discovery at the Keats zone, located only 3.5 kilometres to the east.
Exploits has identified two discrete targets within the Company’s 100% wholly owned Jonathan’s Pond Project that were developed over the course of the 2020 field season. Combining geological field mapping and Goldspot Discoveries Ltd. geophysical data analysis techniques, the Company is confident in the generated targets at the JP Vein and the Demagnetized Fault Zone. Twelve holes (~3,000m) have been permitted in total to test these two main targets at the Project.
The JP Vein was the main focus of Exploits’s exploration efforts in the 2020 field season. The results of the 2020 exploitation program was successful in both delineating high grade mineralization on the JP Vein but also resulted in the Company having a clear structural model of the structural deformation of host rocks and to be able to identify which vein sets (and orientation) are likely to be mineralized. This understanding drove the acquisition of additional ground at Jonathan’s Pond from New Found Gold Corp. in December 2020, which included the southern half of the Demagnetized Fault Zone, (the “Demag Zone”).
The Demag Zone is located 1.5km northeast of the JP Vein and consists of a demagnetized fault structure that was observed in geophysics, with coincident overlaying gold in till samples. Float boulders of up to 700 g/t Au have also been found on the property. This target is well supported by the structural analysis at the JP Vein.
Note that they have more lands than NFG (over 2,000 sq. km.) and their market cap is only 52 million (25 times less than NFG’s). What if they start to provide results like NFG’s?