Vancouver, January 7, 2021- Exploits Discovery Corp., (“Exploits” or the “Company”) (CSE: NFLD) (FSE: 634-FF) is pleased to announce that it has completed an inaugural reconnaissance program at the Katie Prospect, located in the heart of the Great Bend Property.
- Exploits Discovery geologists collected 12 rock grab samples from subcrop and outcrop, with five returning values between 1.2 g/t to 2.7 g/t Au.
- Six samples containing massive sphalerite and chalcopyrite ran above fire assay cut-off for silver and lead which were subsequently assayed under ore grade analysis returning values of 11.5 g/t to 66.3 g/t Ag and 7.24% to 24.0% Zn.
- Sample concentrations of Zn, Pb, Cu are similar to the past producing high grade VMS Buchans Mine, which had a 56 year mine life and produced 16.2 million tonnes averaging 14.5% Zn, 7.6% Pb, 1.3% Cu, 1.37 g/t Au, 126 g/t Ag from five separate deposits. Buchans is currently 100% owned by Buchans Resources, and they have entered in a collaboration agreement with Boliden Mineral AB (see Buchans Minerals Corp New Release Dated Jan 5,2021).
- This newly acquired sample data, plus GoldSpot Discoveries Corp.’s initial structural analysis leads the Exploits Discovery technical team to believe that there may be opportunity for orogenic-epizonal style mineralization at the Katie prospect where the Appleton Fault is truncated in the Huckster Lake volcanic rocks creating the structural discontinuity required for the deposition of gold.
- Gold bearing till sampling by New Found Gold at Eastern Pond, north east the Katie Project, trend south west to the Exploits claim border and defines a target for Appleton fault orogenic style gold deposition, (see https://newfoundgold.ca/project/queensway-project/).
- Exploits plans to continue to add new layers to its internal geological database including the possibility of the execution of a high resolution airborne geophysical survey to take place early winter 2021.
Michael Collins, President & Chief Executive Officer of Exploits, commented: “The Katie Prospect is renown in the Newfoundland prospecting community for being of high geological interest, and we pushed hard to get boots on the ground prior to snowfall. The results validate our expectations but more importantly, this field work provided us with a better understanding of why past companies focused mainly on VMS style mineralization in the area. While VMS mineralization is evident, we plan to focus on the new epizonal orogenic gold model, more specifically on the structurally important Appleton, Joe Batts Pond, and Dog Bay Line Fault Zones that are truncated by the Huxter Lane Volcanics within the Exploits Subzone.”
Exploits is waiting for results for additional late 2020 prospecting and soil sampling campaigns. This includes a 4 km² Spatiotemporal Geochemical Hydrocarbon (SGH) soil grid and 347 samples taken across the 380 km² Dog Bay Gold Project (including 2 areas highlighted with visible gold), trench sampling at Jonathan’s Pond, as well as a 2.5 km² SGH soil grid over the True Grit Gold Project. The company will release the results as they come back from the respective labs.
Geology Map of Sample Locations
Katie Prospect Grab Sample Assay Results
|Sample ID||Au (g/t)||Ag (g/t)||Cu (%)||Zn (%)||Pb (%)|
Quality Assurance – Quality Control (“QA/QC”)
All rock samples are collected by company personnel and bagged in the field with a sample tag for identification. The bags are sealed with tape and kept secure at a company facility until they are transported directly to the lab by Exploits staff.
All rock samples are analyzed at Eastern Analytical of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Exploits Discovery Corp. Eastern Analytical pulverized 1000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples above 8.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Samples in this report were run for Ore Grade Assay when with multi-acid digestion with AA finish for samples above detection limit for silver.
National Instrument 43-101 disclosure
Ian Herbranson, P.Geo, is Vice-President of Exploration for the company and qualified person as defined by National Instrument 43-101. Mr. Herbranson supervised the preparation of the technical information in this news release.
About Exploits Discovery Corp.
Exploits Discovery is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada. The company currently holds the Middle Ridge, True Grit, Great Bend, Mt. Peyton, Jonathan’s Pond, Gazeebow and Dog Bay projects which cumulatively cover an area of approximately 2,111 square kilometres.
All projects within Exploits portfolio lie within the Exploits Subzone.
Exploits believes that the Exploits subzone, which runs 200 km 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 discovery such as New Found Gold’s 2019 discovery of 92.86 g/t Au over 19.0 metres near surface. The Exploits Subzone and GRUB regions have been the focus of major staking and financing throughout 2020, with increased exploration activities forecasted in the area moving into 2021.
The team at Exploits, with significant local experience and knowledge, have studied the entirety of the Exploits subzone and picked individual land packages for staking or joint venture where there is an opportunity for world class discoveries and mine development. Exploits intends to leverage its local team and the larger shift in understanding and become one of the most extensive explorers in the Exploits subzone.
ON BEHALF OF THE BOARD /s/ “Michael Collins “ President and CEO
For further information, please contact: Michael Collins, CEO Tel: (604) 681-3170
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.