Vancouver, British Columbia – July 18, 2022 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) is pleased to announce the preliminary results of its Alpha IP™ (“Alpha IP”) survey on its Titan Property conducted by Simcoe Geoscience (“Simcoe”) as part of the Company’s fully-funded 2022 exploration program. The Company’s programs are focused along structural lineaments where recent significant high-grade gold discoveries have been announced in central Newfoundland. The Titan Property is located within the Exploits subzone and overlays the interpreted prospective Valentine Lake Fault extension.
- Preliminary results of Alpha IP survey have identified the potential for deeper and more extensive mineralization and assisted in generating new drill targets at Titan
- Historic drilling did not clearly reveal these mineralized trends
- Titan is fully permitted for diamond drilling
Jeff Swinoga commented: “Using industry leading technology is consistent with our systematic approach on our large and strategic land package to aggressively advance projects up our pipeline of drilling targets. We were delighted to partner with Simcoe at our Titan Property as the new information from this IP survey was crucial in developing a well-defined series of targets at several high-priority areas at Titan. We are excited about the potential of using Alpha IP on our other targets in our project pipeline that we are advancing.”
Alpha IP Survey
Exploits deployed Simcoe’s next-generation wireless, high-definition, time-domain Alpha IP technology at its Titan Property. The IP survey covered 7 line-km of the favourable stratigraphy that straddles the extents of the historically under-explored gold-mineralized trend.
Alpha IP is a “green” survey technology with no tree-cutting or surface disturbance required – an example of effective, next generation and non-destructive exploration methods at work. Simcoe’s history of geophysical discovery spans from coast to coast in Canada, with Alpha IP data and surveys playing a key role in the recent discovery of what is becoming Ascot Resources’ new mine in interior BC. In addition, Simcoe works with other mining clients locally in Newfoundland.
Simcoe uses deep-penetrating Alpha IP technology to acquire 2D data which then can be quickly modeled and imaged in high-definition 3D. This comprehensive 3D imaging will ultimately provide Exploits with the precise targeting needed to potentially intersect gold-related mineralization and structures of interest across a substantial portion of Titan.
Historic surface sampling, trenching, and drilling at the Titan property indicated a northeast trending mineralized corridor extending over approximately 550 metres of strike length. Historic drilling (Crosshair Exploration and Mining 2004 – 2005) tested the mineralized trend at Titan over a strike length of approximately 250 metres and to a vertical depth of 65 metres. Compilation work performed by Exploits exploration team has indicated that mineralization is associated with altered gabbroic intrusions and localized irregular quartz veining.
The 2022 Alpha IP survey is an additional layer that compliments historic surface sampling, trenching, and drilling and has identified the potential for deeper and more extensive mineralization.
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 actively exploring the Dog Bay Central, Titan, Gazeebow, Mt. Peyton, Jonathan’s Pond, True Grit, Great Bend and Middle Ridge projects, covering approximately 2,000 square kilometres of mineral tenements.
Exploits believes that the Exploits Subzone Gold Belt, which runs 200 kilometres from Dog Bay southwest to Bay d’Espoir, has been neglected since the last major exploration campaigns in the 1980s. The last 40 years have seen incremental advancements in the understanding of gold mineralization in the camp. The sum of this knowledge is now coming together in discrete and effective exploration models that have delivered results including, New Found Gold’s 2019 discovery hole. The Exploits Subzone has been the focus of major staking and financing since late 2019, with high grade gold discoveries by New Found Gold, and Labrador Gold as well as advanced resource development by Sokoman Minerals.
The team at Exploits, with significant local experience and knowledge, has studied the entirety of the Exploits Subzone and surrounding regions, and having picked individual land claims for staking, purchase or joint ventures, has developed a land package where there are opportunities for world class discoveries and mine development. Exploits is leveraging its local team and geologic understanding and becoming one of the most extensive explorers in the Exploits Subzone.
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.
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.