Toronto, Ontario–(Newsfile Corp. – October 10, 2024) – Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) (“Exploits” or the “Company”) Plans for an initial drilling campaign on the western flank of the Appleton Fault Zone (“AFZ”) in the mining area (the “Bullseye” or “Property”). The program also includes a follow-up training campaign in the saddle zone. Bullseye is strategically located just north of New Found Gold Corporation’s (“NFG”) Queensway claim and encompasses a 1.2 kilometer area of the AFZ. Within this segment, Exploits successfully identified localized clusters of mineralized and visible gold (VG) bearing quartz veins at the Horseshoe and Saddle targets, both located on the property. Bullseye is 100% owned and fully permitted for drilling through 2024.
Highlights:
This results-driven program focuses on:
The western section of the Bullseye property is located north of NFG’s K2 Gold Zone.
Along the western section of Bullseye’s AFZ.
High priority drilling in the saddle zone. Follow-up analysis results from drill holes BE-24-015 (254.00 g/t with 0.80 m core length) and BE-24-21 (20.92 g/t with 0.60 m core length). See press releases dated July 15, 2024 and August 13, 2024.
The drilling program will consist of approximately 2,500 meters of drilling.
“We are excited to begin our latest drilling program at the Bullseye property,” said Jeff Swinoga, president and CEO. In addition to exploring the area, there is also the potential to expand on recent gold discoveries in the Saddle Zone.” An impressive gold catch of 67.55 g/t was achieved over 3.30 metres. There is great potential in these areas and we want to uncover new growth and value creation opportunities for our stakeholders. ”
Figure 1: Drilling target area for Phase 4 of the Bullseye property.
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Figure 2: Photo of the drill core from the BE-24-015 hole in the saddle zone. It shows visible gold at 67.55 g/t Au over 3.30 meters and 254.08 g/t Au over 0.80 meters. (See news release dated July 15, 2024)
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Exploit interpretation of bullseye potential to promote local high-grade gold mineralization:
Bullseye mineralization occurs within a fold-thrust sequence of steeply dipping sediments that strike to the northeast. 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 may serve as a major conduit for late-stage fluids that may have contributed to the numerous gold discoveries found nearby. Numerous secondary brittle faults surrounding the AFZ form a structurally complex network that hosts locally gold-rich quartz veins.
bullseye gold property
Bullseye rights are being staked by Exploits in September 2022 and are adjacent to NFG’s Queensway project. We believe these claims are very promising as they directly overlap the 1,200 x 800 meter segment of the AFZ and its associated splay structures.
National Instrument 43-101 Disclosure
Mr. Ken Tylee, P.Geo., Vice President of Exploration Through Exploitation, is a qualified person in Ontario and Newfoundland and Labrador as defined by the NI 43-101 standard. Mr. Tylee has reviewed and approved the technical information contained 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 has a vision of leveraging its experienced and talented local team and geological understanding to become one of Canada’s most successful explorers.
on behalf of the board of directors
/s/ “Jeff Swinoga”
Representative Director and President
For more information, please contact us below.
Shanda Kilborn
Vice President of Corporate Development and Investor Relations
+1 (778) 819-2708
shanda@exploits.gold
https://exploitsdiscovery.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of the accuracy of this news release.
Forward-looking statements
This news release contains certain forward-looking statements that relate to future events and 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 the Company and information currently available. Readers are cautioned that these forward-looking statements are not promises or guarantees and may differ significantly from anticipated future results, including, but not limited to, market conditions, financing availability, and actual performance. Please note that they may be subject to different risks and uncertainties. our exploration and other activities, environmental risks, future metal prices, operational risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry; All forward-looking statements contained in this news release are qualified by these cautionary statements and the contents of the Company’s Continuous Disclosure Document, which is available on SEDAR+ (www.sedarplus.ca). These forward-looking statements are made as of the date hereof, and the Company undertakes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable law. I am not responsible.
Acknowledgment
Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Support Program from the Government of Newfoundland and Labrador, Department of Natural Resources.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226256.
