Exploits Announces Assay Results from Bullseye Drill Holes B Toronto, Ontario--(Newsfile Corp. - August 14, 2023) - Exploits Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to announce assay results from diamond drill holes BE-23-018 and BE-23-020 to 029 on its 100% owned Bullseye property located along the Appleton Fault Zone ("AFZ") located approximately 200 metres east of New Found Gold's recently reported high-grade intercepts at its Everest gold zone in central Newfoundland.
Highlights Include:
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BE-23-028 encountered several clusters of quartz veining over approximately 18 metres in core-length as well as localized fault zones with associated sulfide enrichment.
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Extensive sampling of these zones has generated gold assays up to 14.59 g/t Au.
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The results and location of BE-23-028 suggest the potential extension of gold mineralization at Everest as reported by New Found Gold on May 10, 2023.
- Select intercepts from BE-23-028 include:
- 4.08 g/t Au over 1.60 m core-length, located at a vertical depth of approximately 75 m below surface.
- Including 8.16 g/t Au contribution from a 0.70 m sample.
- 4.85 g/t Au over 0.75 m core-length, located at a vertical depth of approximately 185 m below surface.
- 14.59 g/t Au over 1.00 m core-length, located at a vertical depth of approximately 186 m below surface.
Ken Tylee, Vice President (Exploration), comments on Hole # 28: "We are excited to see several clusters of veining up to 18 metres in length hosting locally anomalous gold values reaching 14 g/t. These intercepts suggest that Hole 28 has encountered an extension of the Everest mineralized system announced by our neighbours on May 10, 2023, possibly tracking eastwards into our Bullseye claims. We will be looking to follow up these encouraging results as we plan for our second phase of drilling."
Bullseye (Horseshoe) Interpretation:
Mineralization at the Bullseye property is hosted within a fold-thrust sequence of northeast-striking, steeply dipping, turbidite sequence. These rocks were deposited and deformed during the closure of the Iapetus Ocean and subsequent continent-continent collision. The Appleton Fault Zone is a regional scale deformation zone that developed during this period. The AFZ likely serves as a primary conduit for gold-bearing fluids. Brittle faults within the envelope surrounding the AFZ form a vast network of gold rich quartz veins.
Visible gold has been noted within 8 drill holes contributing to the locally high-grade intercepts. Several wide intervals of gold mineralization, in the 1.00 - 3.00 g/t range, are linked to quartz veining with elevated sulphide content. Notable sulphide minerals, such as pyrite, arsenopyrite, and boulangerite have been observed within the veins and in the surrounding host rocks. Within the Horseshoe zone, visible gold is found in brecciated and locally annealed vuggy quartz veins, features characteristic of epizonal gold deposits.