Toronto, Ontario–(Newsfile Corp. – July 12, 2023) – Exploits Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) (“Exploits” or the “Company”) is pleased to announce the start of its 2023 sampling program at Gazeebow South in central Newfoundland. This program will be composed of 58 samples collected on a 500 x 500 metre grid pattern covering an approximately five-kilometre-long segment of the interpreted Appleton Fault Zone that transects this property.
The till sampling program is a regionally-successful method to determine the presence of gold mineralization within the study area by analyzing samples for indicator minerals, including gold. The approximately 10-kilogram samples will be collected from the C-horizon soil layer (immediately overlying bedrock), processed-tracked, and submitted to Overburden Drilling Management Limited (“ODM”) for analysis. Once in the laboratory, the sample material will be thoroughly inspected for the presence of gold-indicator minerals. Gold grains that are identified within the samples will be counted, optically examined, and classified by morphology (pristine versus reshaped) in order to ascertain the transport distance from their original bedrock source. Upon completion of these bench-studies, ODM will submit the heavy mineral concentrates (HMC) to an independent laboratory for assaying.
The goals of this program will be the following:
- Follow-up on gold-in-till signatures identified by Torq Resources (2017-2018) that are proximal to the interpreted Appleton Fault Zone
- Test previously unexplored areas for indications of gold mineralization
Jeff Swinoga, President and CEO, comments, “We are very excited about our Gazeebow South property which covers an estimated 10 kms of Appleton Fault. The results of this till sampling program, together with prospecting, mapping, LiDAR & Magnetic surveys, will help assist our geologists to identify, validate and advance potential gold targets along the northern Appleton Fault Zone. Our field exploration program this year is designed to generate and advance new gold targets along the northern prospective fault lines leading to a drilling decision later this year.”
ODM’s laboratory facilities are based in Ottawa, Canada. ODM’s experienced staff have performed similar studies from tills sourced from central Newfoundland and ODM holds a Certificate of Authorization from the Professional Geoscientists Ontario.
Figure 1: Exploits 2023 Phase-1 till sampling program for Gazeebow South.
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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. 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. The Company is focused on discovering high-grade structurally hosted epizonal gold similar to New Found Gold’s success along the Appleton Fault Zone and parallel structures within the Exploits Subzone.
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
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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.
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.sedar.com. 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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/173200