Toronto, Ontario--(Newsfile Corp. - October 10, 2024) - Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to announce its plans for the inaugural drilling campaign of the western flank of the Appleton Fault Zone ("AFZ") at the Bullseye gold property ("Bullseye" or the "Property"). This program will also include a follow-up drill campaign at the Saddle Zone. Bullseye is strategically located immediately north of New Found Gold Corp.'s ("NFG") Queensway claims and encompasses a 1.2-kilometre segment of the AFZ. Within this segment, Exploits has successfully identified localized clusters of mineralized and visible gold (VG)-bearing quartz veins at the Horseshoe and Saddle targets, both situated on the Property. Bullseye is 100%-owned and fully permitted for drilling throughout 2024.
Highlights:
- This results-driven program focuses on:
- The west section of the Bullseye property, located north of NFG's K2 gold zone.
- Along the west section of the AFZ on Bullseye.
- High-priority drilling at the Saddle Zone, following up on assay results from drill holes BE-24-015 (254.00 g/t over 0.80 m core length) and BE-24-21 (20.92 g/t over 0.60 m core length). See press releases July 15, 2024 and August 13, 2024.
- Drill program will consist of approximately 2,500 m of drilling.
Jeff Swinoga, President and CEO, comments, "We are excited to commence our latest drilling program on the Bullseye property. This initiative will explore the previously untested west side of the Apple Fault Zone as well as potentially extend our recent Saddle Zone gold discovery where we had an amazing gold intercept of 67.55 g/t over 3.30 metres. These areas hold significant potential, and we are eager to uncover new opportunities for growth and value creation for our stakeholders."
Figure 1: Bullseye property Phase 4 drilling target areas.
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Figure 2: Photographs of drill core from hole BE-24-015 at the Saddle Zone, showing 67.55 g/t Au over 3.30 metres with visible gold, including 254.08 g/t Au over 0.80 metres. (see news release dated July 15, 2024)
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Exploits' Interpretation of Bullseye's Potential to Host Local High-Grade Gold Mineralization:
Mineralization at Bullseye is hosted within a fold-thrust sequence of northeast-striking, steeply dipping sediments. These rocks were deposited and deformed during the closure of the Iapetus Ocean and subsequent continent-continent collision. The AFZ is a regional scale deformation zone that developed during this period. The AFZ likely serves as the primary conduit for the late-stage fluids that appear to have contributed to the numerous gold showings discovered in the vicinity. Numerous secondary brittle faults surrounding the AFZ form a structurally complex network hosting local gold-enriched quartz veins.
Bullseye Gold Property
The Bullseye claims were staked by Exploits in September 2022 and are contiguous to NFG's Queensway project. The Company believes these claims are highly prospective because they directly overlay a 1,200 by 800 metre segment of the AFZ and its related splay structures.
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.
On Behalf of the Board
/s/ "Jeff Swinoga"
President and CEO
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.
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