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Ready to Tap Newfoundland’s Golden Potential

Stockhouse Editorial
1 Comment| May 18, 2022

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(Overview map of via Exploits Discovery Corp. of its 2022 soil sampling program covering roughly 18 km of the Appleton Fault corridor on the Dog Bay Central claims group.)

A Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada provided investors with an update of its 2022 exploration plans and remaining assay results from its 2021 drilling program, this week.

Exploits Discovery Corp. (CSE: NFLD, Forum)’s fully-funded 2022 exploration programs focused along the interpreted Appleton Fault where recent significant high-grade gold discoveries have been announced, and the remaining final assay results from our 2021 drilling program at the Schooner, Little Joanna, and Jonathan’s Pond targets.

Highlights:

  • Exploits’ crews are actively in the field on a full-time basis, focused on results-driven prospecting, geological mapping-sampling on a prioritized list of prospective targets
  • Expanded our local Gander exploration team in anticipation of our extensive and aggressive field campaign this year
  • Commenced high-definition Soils Geochemistry survey on an extensive portion of our northern properties
  • Engaged a ground “Alpha” Induced Polarization geophysical survey at a new target area southwest of the original Titan prospect to identify the potential for deep and extensive gold mineralization
  • An airborne Electromagnetic VTEM survey has been commissioned for late-summer to expand our coverage from our over 20,000+ line-km VTEM survey conducted in 2021
  • Final assay results from our 2021 drilling program at the Schooner, Little Joanna, and Jonathan’s Pond targets have been received and these new values have not replicated the Company’s 2021 assessment of their historic mineralization exposures
Management commentary:

The company’s President and CEO, Jeff Swinoga commented on these results in a news release, saying that the exploration programs kicked off for this year’s summer session focused on three key targets along the Appleton Fault: Dog Bay North, Dog Bay Central, and Titan claim groups.

“Early this year, our local team and astute advisors worked diligently to create our new Exploration 2.0 founding methodology. This methodology is a disciplined, systematic approach in evaluating one of the largest land packages in the largely unexplored Central Newfoundland Gold Belt. Our new Exploration 2.0 methodology includes guidance and research from Dr. David Groves, an international expert in orogenic gold deposits, experienced modelling insights and geophysical analysis from GoldSpot Discoveries, on-the-ground expertise, and knowledge from our all-local team in Gander and information from our 20,000+ km of new geophysics. While the results of the Company’s 2021 drilling program results did not meet expectations, we are excited about the implementation of our new methodology as our team continuously develops and prioritizes a pipeline of new targets to maximize our chances for successful gold discoveries. We are also eager to learn the results of our extensive soil sampling program that will be completed in the next two months as these sampling results will be incorporated into our Exploration 2.0 methodology which will be used to guide our drilling program decisions this year.”

2022 outlook:

2022 field work is focusing on areas along the Appleton Fault corridor, as well as additional prospective areas of interest identified by the team through comprehensive historical data compilation. Local field team has commenced prospecting, mapping, and sampling at various prospective areas on the Company’s Dog Bay North, Dog Bay Central, and Titan claim groups. In anticipation of this extensive and aggressive field campaign, we have hired additional staff and obtained the necessary resources.

Via a high-density geochemical soil survey, Exploits commenced an initial high-density soils sampling program (~11,000 samples) at the Dog Bay Central claims group encompassing the team’s new Titan South, Duder Lake, and Appleton North targets (see image above). This program is designed to cover approximately 18 kilometres of the northern extents of the prospective Appleton Fault corridor (as identified by GoldSpot Discoveries) though analysis of airborne VTEM geophysics.

Sampling is conducted at 100-metre line spacing and 50-metrer sample point spacing, sample density has been increased to 25-metre spacing over localized higher-priority areas of interest.

The company’s local exploration team has confirmed the potential for orogenic gold mineralization at these targets through historic data analysis, prospecting, modern mapping and sampling, and the 2021 airborne VTEM geophysics.

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