Exploits Discovery Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada. The Company currently holds the Jonathan’s Pond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend and Gazeebow projects which cumulatively cover an area of approximately 2,111 square kilometres.
The Johnathan’s Pond Highlights Project
- Located on a splay fault off the GRUB Line, with 3 km of strike; open for expansion to the north.
- Outcrop and float samples with visible gold up to 29 g/t Au and 700 g/t Au, respectfully in trenches.
- Magnetic geophysical signatures outline multiple highly prospective structures beneath overburden.
- Program: stripping, trenching, structural mapping, geophysics, soil sampling and then drilling
Drill Target: Schooner
Drill Target: True Grit
The Schooner Fault is a newly identified fault zone uncovered by GoldSpot’s geophysical and A.I. analysis on existing data compiled by Exploits. Situated 3.5 km west of New Found Gold’s (NFG) Keats Zone, the Schooner targets are analogous to NFG’s Keats, Lotto, and Knob zones which are identified as a fault splays along Appleton Fault parallel features within the Davidsville Group sediments in the Exploits Subzone. 3 high priority structural intersection targets have been identified for high resolution ground geophysics, trenching, and drilling, covering ~2 km of exploration strike length.
With 25 km of secondary structure parallel to the GRUB line, the property hosts channel samples of 15.6 g/t Au over 1.0m and grab samples of 30.2 g/t Au (Teck, 1990). The property hosts geophysical anomalies coincident with Au-Sb-As soil anomalies which measure over 2.6km by 0.80km which would be expected in the Fosterville Model. Currently conducting a high resolution, 13,500 line kilometre, airborne VTEM geophysical survey over Exploits’ southern projects. Near surface, low grade, wide intercepts were drilled by Moydow Mines from 2003-2005, including 0.60 g/t Au over 117m from surface. (Moydow, 2003).
March 3, 2021 - Exploits Submits Application for Drilling at The Little Joanna and Quinlan Vein Prospects within The Dog Bay Gold Project
Exploits Discovery Corp. (“Exploits” or the “Company”) (CNSX:NFLD.CN) (OTC:RNRRF) (FSE:634-FF) is pleased to announce the Company has submitted drill permit applications for 4,500 metres of drilling at the Little Joanna and Quinlan Vein prospects within the Dog Bay Gold Project, Newfoundland.
- – Exploits has planned and submitted diamond drilling applications for 18 holes totaling a length of 4,500 metres across the Little Joanna Veins and Quinlan Veins prospects.
– 9 holes (2,250m) at the Little Joanna Veins, 9 holes (2,250m) at the Quinlan Veins prospects.
– The diamond drill applications are in addition to the applications submitted at the Schooner and Jonathan’s Pond prospects, totalling 10,500m over 33 holes across 4 prospects.
– Exploits drilling placement follows on the same targeting techniques used by New Found Gold Corp. in the discovery hole at the Keats Zone (19m of 94g/t Au) targeting secondary and tertiary displacement structures that are thought to be responsible for gold mobilization and concentration in the Exploits Subzone*.
*sampling on adjacent properties may not be representative of results from Exploits claims.
- – Exploits inaugural drilling programs are to commence pending approval in Spring 2021.
Michael Collins, President and Chief Executive Officer of Exploits, commented: “The successful sampling campaign Exploits conducted in late 2020, coupled with the efforts of our inhouse team and partner GoldSpot Discoveries, has doubled our tier one drill targets to four across our projects in the Exploits Subzone. The Exploits team is excited to refine each high value target for drilling programs as we drive towards discovery in 2021.”
2021 Diamond Drill Permit Locations
Figure 1: Map of Exploits Discovery claim boundaries with the location of the Little Joanna Veins, Quinlan Veins, Schooner, and Jonathan’s Pond drill permit application areas.
Figure 2: Preliminary drill plan for the Little Joanna Veins prospect targeting the visible gold bearing quartz veins as well as the interpreted structural intersection between secondary and tertiary displacement faults, highlighted by blue circles.
Figure 3: Preliminary drill plan for the Quinlan Veins prospect targeting the visible gold bearing quartz veins and interpreted structural intersection between the Appleton Fault and a secondary displacement fault.
About 2021 Diamond Drilling
Exploits has identified 2 discrete targets, in addition to the 2 targets previously announced on February 2nd, within the Dog Bay Gold Project that are nearing drill ready status. These targets are the named the Little Joanna Veins and Quinlan Veins prospects. Drill permits have been submitted for each prospect totalling 18 holes for a combined length of 4,500 metres. 9 holes (2,250m) have been applied for at the Little Joanna Veins, targeting quartz veins with visible gold at surface that assayed up to 194 g/t Au. These veins are interpreted to be structurally controlled by a regional secondary, sub-parallel to the deep-seated Dog Bay Line fault zone, and an approximately 2 km long tertiary displacement fault, named the Little Joanna Fault. 9 holes (4,500m) were applied for at the Quinlan Vein prospect, targeting quartz veins with visible gold at surface, returning assays of up to 61.3 g/t Au and 189 g/t Ag. These veins are also interpreted to be structurally controlled by a regional secondary fault structure, stemming from the deep-seated Appleton Fault zone. Additional targets are located at the interpreted intersection of the aforementioned faults, testing possible structural dilations suitable for the deposition of gold. Both the Little Joanna Veins and Quinlan Veins targets are deemed analogous to New Found Gold’s Keats Zone due to the similarities in structural control and lithological host units.
While the permitting applications are being reviewed, Exploits plans to refine each target with follow up field work. Ground geophysics, outcrop mapping, and trenching are being planned to fine-tune each target to be drill ready once the permits have been approved.
The Little Joanna Veins and Quinlan Veins are located within a series of claims optioned from Eddie and Roland Quinlan, (the “Quinlan Option”), on August 20, 2020 where Exploits can earn a 100% interest by paying $220,000 cash and issuing a further 2.5 million common shares and $560,000 in either cash or common shares.
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 with visible gold or assaying above 8.00 g/t Au are further assayed using metallic screen to mitigate the nugget effect of coarse gold, (Nugget effect may cause a significant spread in resulting assay values using a 30 gram fire assay). Samples in this report were run for Ore Grade Assay with multi-acid digestion with AA finish for samples above detection limit for silver…
February 16, 2021 - Exploits Visible Gold Samples Assay 194 G/T Gold at the Little Joanna Veins within the Dog Bay Gold Project, Newfoundland
Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE:NFLD) (OTC:RNRRF) (FSE:634-FF) (CNSX:NFLD.CN) is pleased to announce the assay results from the late 2020 prospect sampling campaign in the Dog Bay Gold Project. Samples from the Little Joanna Veins included quartz veins with visible gold returning assays up to 194 g/t Au.
- – 16 samples from outcrop and subcrop at the Little Joanna Veins were taken with values ranging from 0.1 to 194 g/t Au. Five samples with visible gold returned assays of 194, 133, 123, 119, and 118 g/t Au.– The quartz veins were uncovered up to 20 metres of strike length at an average width of 30 centimetres before becoming buried under overburden and are open in all directions.- Secondary fault structures sub-parallel to the Dog Bay Line, identified by GoldSpot Discoveries geophysical analysis of regional magnetic surveys, underlay the gold bearing quartz vein location and provide evidence for the structurally controlled, orogenic gold model that successfully targeted the Keats Zone discovery for New Found Gold Corp.
– The Company and GoldSpot geologists are working on a follow up exploration and drill targeting plan for this high priority drill target.
– Exploits CEO Michael Collins is pleased to host an investors update presentation via Zoom, on February 17th-2021 at 10:00am Pacific Standard Time (2:30pm NST) (See details and link below).
Michael Collins, President & Chief Executive Officer of Exploits, commented: “The Dog Bay Project is crosscut by major and secondary fault structures, and the visible gold in the Little Joanna veins are another demonstration that the epizonal, orogenic gold model is proving to be valid throughout the length of the Exploits Subzone fault systems. With the fieldwork, geophysics and GoldSpot A.I. analysis, we are rapidly and efficiently identifying high value targets for further exploration and drilling programs starting in spring 2021.”
Abundant fine and coarse visible gold was discovered within the veins (Figure 2) as well as in crack seal fractures. The Little Joanna veins have been exposed for up to 20 metres along strike before diving under thick overburden at both ends and are 20-50 cm wide massive quartz. These veins occur across a width of 20m perpendicular to the strike. Stylolites of sulphide were observed along with fine to medium grained pyrite and arsenopyrite in the quartz vein itself. The veins are mainly milky white and display vuggy and crack seal textures, which are typical of epizonal, orogenic gold deposits. Structurally, the veins are situated within a secondary fault structure associated with, and sub-parallel to, the Dog Bay Line Fault Zone, which was highlighted by GoldSport Discoveries’ geophysical analysis of regional airborne magnetic geophysics.
Analysis of these results by GoldSpot geophysicists and the Exploits team demonstrates both the relationship of the Little Joanna Fault within a kink in the regionally extensive “Dog Bay Line” fault as well as indicating there is a second, unexplored sub parallel fault west of the Little Joanna Fault that also has potential to host gold mineralization. These faults and structures are important in producing the open spaces required for the deposition of large gold deposits and this makes Little Joanna a priority for our team.
Figure 1: Geology map of the Dog Bay Gold Project with locations and assay results of the newly discovered Quinlan, Little Joanna, and Duder Lake Quartz Veins, as well as SGH soil grids. Veins with visible gold are indicated by gold stars.
Figure 2: Geology map showing sample locations of the Little Joanna Veins with structural intersection targets highlighted in blue circles. Inset photo shows an example of exposed quartz veining along a 20-metre strike length with adjacent bedrock covered by overburden.
Figure 3: Medium grained visible gold (VG) from the Little Joanna Quartz Vein discovery in the Dog Bay Gold Project. Gold grains were observed between <1 millimetre and 3 millimetres in diameter. Black shale inclusions and sulphide stylolite veinlets are typical in the quartz veining.
Exploits plans to further understand the Little Joanna Veins with follow up exploration. This includes Spatiotemporal Geochemical Hydrocarbon (SGH) soil sampling, high resolution ground geophysical surveys, and trenching to further develop this tier one target in preparation for drilling. Access to the Little Joanna Veins is by a well-connected network of forestry roads off of Highway 340, 28 kilometres east of the town of Lewisporte, situated on the Atlantic ocean.
The Little Joanna Veins are located with one of a series of claims optioned from from Eddie and Roland Quinlan, (the “Quinlan Option”), on August 20, 2020 where Exploits can earn a 100% interest by paying or issuing property by paying an aggregate of $220,000 cash and issuing a further 2.5 million common shares and $560,000 in either cash or common shares.
February 9, 2021 - Exploits Visible Gold Outcrop Samples Assay 61.3 G/T Gold and 189 G/T Silver at the Quinlan Veins within The Dog Bay Gold Project, Newfoundland
Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE:NFLD) (OTC:RNRRF) (FSE:634-FF) is pleased to announce the assay results from the 2020 prospecting campaign in the northern end of the Dog Bay Gold Project. Samples included the Quinlan quartz veins with visible gold returning assays up to 61.3 g/t Au.
– 57 samples from outcrop and subcrop at the Quinlan Veins were taken. Five samples, one with visible gold (VG), returned assays of 61.3, 59.0, 14.4, 14.2, and 12.6 g/t Au, with 26 total samples assaying over 0.1 g/t Au with an average grade of 7.3 g/t Au.
– Additional sampling at the Cove Veins ~1 kilometre southeast from the Quinlan Veins returned assays between null and 11.8 g/t Au.
– Secondary fault structures associated with the Appleton Fault zone, highlighted by GoldSpot Discoveries geophysical analysis, underlay the gold bearing sample locations and provide evidence for the structurally controlled, orogenic gold model that successfully targeted the Keats Zone discovery for New Found Gold Corp.
– The Company and Goldspot geologists are working on a follow up exploration and drill targeting plan for this high priority drill target.
Michael Collins, President & Chief Executive Officer of Exploits, commented: “The results of first pass sampling at the high grade Quinlan Vein showing demonstrates the potential of the gold bearing Appleton Fault and crossing secondary structures. With over 50km strike alongthe Appleton Fault on Exploits Dog Bay and Great Bend Claims, the Company is well placed to make a drilling discovery in 2021.”
The Quinlan Veins are several 50 to 70 centimetre-wide quartz veins over a 25m wide zone, currently running 5 to 20 metres in strike length before diving under overburden cover. Visible gold was discovered as fine grains in crack seal fractures and as fine to coarse grains in the quartz veins. Trace sulphide mineralization is also present in the quartz veins as pyrite, chalcopyrite, galena, and sphalerite. The veins are milky white with sections of vuggy and crack seal textures, which are typical of epizonal, orogenic gold deposits. Structurally, the veins are situated within secondary fault structures, associated with the Appleton Fault zone, that were highlighted by GoldSpot Discoveries’ geophysical analysis.
The Quinlan Veins are located on a secondary structure that splays off of the Appleton fault. The Dog Bay land package covers over 32 km of strike length of the Appleton fault, a known gold mineralized deep seated regional structure. Exploits also controls an additional 18km strike of the Appleton Fault on the Great Bend project further south within the Exploits Subzone Gold Belt.
Geology Map of Sample Locations
Click Image To View Full Size Figure 1: Geology map showing sample locations of the Quinlan Veins, Cove Veins, and Port Albert Veins.
Quinlan Vein Assay Highlights
----------------------------- |Sample Number|Au g/t|Ag g/t| |---------------------------| |156321 |61.3 |189.2 | |---------------------------| |156193 |59.0 |5.2 | |---------------------------| |156185 |14.4 |25.9 | |---------------------------| |156186 |14.2 |10.4 | |---------------------------| |156322 |12.6 |47.4 | -----------------------------
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Figure 2: Example of fine-grained visible gold (VG) from the Quinlan Veins. Visible gold grains are <1 to 2 millimetres in diameter. Pyrite (Py) and arsenopyrite (ASP) are observed along the quartz vein boundary with the host rock and as minor veinlets within the quartz.
The Cove showing, consisting of quartz/sulphide veins in silicified felsic volcanics and sediments, are located approximately 1 kilometre southeast of the high-grade gold samples at the Quinlan Veins, along strike of the interpreted secondary fault structure. 28 samples from outcrop, subcrop, and float were collected at this location with 2 subcrop samples returning assays of 10.6 and 2.3 g/t Au, with 7 total samples assaying above 0.1 g/t Au at an average grade of 2.1 g/t Au. The high-grade gold samples, found in the Quinlan Veins and the Cove showing, along the highlighted structures provide approximately 2 kilometres of strike length for additional discovery potential…
For Full Release: https://www.marketwatch.com/press-release/exploits-visible-gold-outcrop-samples-assay-613-gt-gold-and-189-gt-silver-at-the-quinlan-veins-within-the-dog-bay-gold-project-newfoundland-2021-02-09-8249110?siteid=bigcharts&dist=bigcharts&tesla=y
February 4, 2021 - Exploits Reports Sgh Soil Grid and Outcrop Sampling Results at The True Grit Gold Project
Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE:NFLD) (OTC:RNRRF) (FSE: 634-FF) is pleased to announce the results of its Spatiotemporal Geochemical Hydrocarbon (SGH) soil grid, displaying three distinct gold responses missed by historic drilling. Surface sampling returned one sample grading 16 g/t Au.
-Three distinct areas of anomalous SGH gold signature were highlighted. The distribution of the gold anomalies match our current modelling of True Grit gold mineralization, and adds untested targets to the east of the historic drillout.
-Historic shallow and broad gold mineralized drill intercepts, including 0.60 g/t Au over 117m from surface, occur on the fringes of the anomaly, indicating the main anomalous bodies were not tested.
-While there is very little outcrop exposure at True Grit, one quartz vein in outcrop was found and sampled in the fall of 2020 which returned a value of 16 g/t Au, trending west-northwest, similar in appearance and orientation to the gold mineralized D3 veins along the GRUB Line found at Exploits’ Jonathan’s Pond Project.
-2,830 line kilometers of high resolution airborne VTEM geophysics currently being flown over True Grit will provide structural context to the SGH gold anomalies, similar to the discovery process used by Great Bear Resources at their Dixie project. Additionally, Exploits will be utilizing GoldSpot Discoveries A.I. to assist in generating clear targets for further exploration and drilling.
-The historic drilling, SGH and outcrop sampling data will be used to build a 3-D model and define drilling targets.
Michael Collins, President and Chief Executive Officer of Exploits, commented: “These results move the True Grit project up in our drill target ranking within our Exploits Subzone project. While we want to build our 3-D model of True Grit mineralization with the integration of the Airborne Magnetics and Electromagnetic data before applying for drill permits, these results support our preliminary model for drilling and making a discovery on the True Grit project.”
The SGH soil campaign at True Grit consisted of 1,041 samples at 25 metre intervals along 100 metre line spacing to target structurally controlled, epizonal orogenic gold mineralization on the project. The SGH grid covered historic gold in till sampling, historic shallow drilling with broadly gold mineralized intercepts, and extended to cover the Gander River Ultramafic Belt (GRUB) Line fault zone, as interpreted by regional geophysics. The results of the SGH soil grid highlights three distinct areas where the geochemical hydrocarbon signal related to gold mineralization are present in abundance.
True Grit SGH Results
Figure 1: Map of the True Grit SGH soil sample results with historic drilling overlain. Areas of pink correspond with samples that measure high in geochemical hydrocarbons that are related to gold, with blues indicating no geochemical hydrocarbons related to gold in the sample.
The southern area partially coincides with historic drill results including 0.60 g/t Au over 117 metres from surface, and 0.55 g/t Au over 52 metres, including an interval of 0.75 g/t Au over 14 metres (Moydow Mines, 2005). These shallow, broadly gold mineralized intercepts validate the SGH method as it proves there is gold in the ground; however, the intercepts are spatially located on the fringes of the SGH gold signature, and are oriented west-northwest off of the anomaly; resulting in the highest targets within the signature are remaining to be tested.
The northern two SGH anomalies lie where there has been little to no drilling. A single drilling campaign by Moydow Mines in 2005 targeted a gold in till anomaly which returned no significant assays. These drill holes coincide with an area of null to low SGH gold signatures, suggesting that the gold in tills that the drilling targeted were mobilized from their source. During sampling, a quartz vein in outcrop was discovered returning an assay of 16.0 g/t Au. The quartz vein was mapped having a west-northwest (~295 deg), steeply dipping orientation, similar to the eastern SGH gold signature which could provide evidence for this being a prospective structural orientation for gold mineralization. The quartz vein is also sub-parallel to the drilling, which also indicates that the drill orientations were not optimal for intersecting gold mineralized quartz veins in this orientation.
Currently, Exploits is flying 2,830 line kilometers in an airborne VTEM geophysical survey at 100 metre line spacing over the True Grit project. High resolution geophysics paired with SGH results was a big part of the successful exploration model Great Bear Resources (TSX.V: GBR) used for their Dixie Project discovery. Data from the survey is being uploaded in real time for the Company’s in-house team and partner, GoldSpot Discoveries (TSX.V: SPOT), to process and understand the structural component of the project. This will provide the anomalous SGH gold signatures with clear structural context in which to target for discovery.
February 2, 2021 - Exploits Discovery Submits Application for Drilling at Schooner and Jonathan's Pond
Exploits Discovery Corp. (“Exploits” or the “Company”) (CNSX:NFLD.CN) (OTC:RNRRF) (FSE:634-FF) is pleased to announce that it has submitted drill permit applications for 6,000 metres of drilling at its 100% wholly owned Schooner and Jonathan’s Pond gold projects (the “projects”) located in the Exploits Subzone, Newfoundland.
– Exploits has planned and submitted diamond drilling applications for 24 holes totaling a length of 6,000 metres across the Schooner and Jonathan’s Pond projects.
– 12 holes (3,000m) at Jonathan’s Pond, 12 holes (3,000m) at the Schooner Prospect in the Mt. Peyton Project.
– Drilling locations were determined based upon preliminary geological analysis carried out by Exploits in house technical team and its partner and shareholder Goldspot Discoveries Corp.’s geophysics experts and Artificial Intelligence program.
– Exploits drilling placement follows on the same targeting techniques used by New Found Gold Corp. in the discovery hole at the Keats Zone (19m of 94g/t Au) targeting secondary and tertiary displacement structures that are thought to be responsible for gold mobilization and concentration in the Exploits Subzone.
– Exploits inaugural drilling programs are to commence pending approval in Spring 2021.
– Assays from 2020 surface exploration, including the two visible gold occurrences at the Quilan Vein and Little Joanna Showings, are expected shortly.
Michael Collins, President and Chief Executive Officer of Exploits, commented: “The past six months at Exploits has been about consolidation of our land package and historical information, and prioritizing targets. With these permit applications we are shifting to drill planning and testing these targets. These permits form the first of a minimum of 5 drill permits that we intend to have in place when the snow comes off in the spring of 2021. The Exploits team is excited to be crystalizing our drill plans as we drive discovery in the Exploits Subzone, Newfoundland”
2021 Diamond Drill Permit Locations
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Figure 1: Map of Exploits Discovery claim boundaries with the location of the Schooner and Jonathan’s Pond drill permit application areas.
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Figure 2: Preliminary drill plan for the Schooner prospect with comparison and spatial relationship to New Found Gold’s Keats, Lotto, and Knob zones.
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Figure 3: Preliminary drill plan for Jonathan’s Pond following up on field work at the JP Vein and the newly identified demagnetized fault zone highlighted by geophysical analysis work.
For Full Release: https://www.marketwatch.com/press-release/exploits-discovery-submits-application-for-drilling-at-schooner-and-jonathans-pond-2021-02-02?siteid=bigcharts&dist=bigcharts&tesla=y
January 28, 2021 - Exploits Discovery Corp Is Now Trading On OTCQB and Securing DTC ElIgibility for Trading in U.S. Markets
Exploits Discovery Corp., (“Exploits” or the “Company”) (CSE:NFLD) (OTCQB:RNRRF) (FSE:634-FF) (CNSX:NFLD.CN) is pleased to announce the Company is now trading on the OTCQB under the symbol RNRRF. In addition, the Company is in the process of securing eligibility by The Depository Trust Company (“DTC”) for electronic settlement and transfer of its common shares in the United States. DTC manages the electronic clearing and settlement of publicly traded companies both in the U.S. and globally, simplifying and accelerating the settlement process for investors.
“Rising gold prices combined with massive increases in equity and bond market liquidity is driving global, but specifically American interest in gold exploration and discovery. Listing on the OTCQB is an important step for Exploits; allowing the Company to reach both retail and institutional investors in the US market.” states Exploits CEO, Michael Collins. “Exploits has a busy year ahead with pending results from the fall of 2020 as well as the presentation and execution of drilling in the Spring of 2021.”
The OTCQB is recognized by the Securities and Exchange Commission as an established public market providing public information for analysis and value of securities. As a verified market with efficient access for U.S. investors, OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.
DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible”. This reduces costs and accelerates the settlement process for investors and brokers, allowing the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
U.S. investors can find Real-Time Level 2 quotes for the Company on www.otcmarkets.com. The Company’s shares will continue to trade on the Canadian Securities Exchange under the symbol “NFLD”, and the Company’s public disclosure continues to be available on SEDAR at www.sedar.com.
January 14, 2021 - Exploits Receives First GoldSpot Discoveries Corp. Exploration Target
Exploits Discovery Corp., (“Exploits” or the “Company”) (CSE:NFLD) (FSE:634-FF) (CNSX:NFLD) (OTC:RNRRF) is pleased to release its first high priority exploration target generated by GoldSpot Discoveries Corp. (“GoldSpot”) (TSXV: SPOT) A.I. technology. The newly identified “Schooner Fault” is a secondary fault structure that trends parallel to the mineralized Appleton fault which hosts New Found Gold Corp.’s (“NFGC”) discovery hole approximately 3.5 kilometres to the east.
– GoldSpot delivers first high priority target for Exploits
– The Schooner Fault is a secondary geological structure, striking parallel to the gold bearing Appleton Fault which hosts NFGC’s Keats Zone.
– 6.5 kilometres of strike length of the Schooner Fault is contained within Exploits’ Mount Peyton Gold Project area.
– The target lies within Davidsville Group of siliciclastic sediments with coincident historically sampled Au in tills (Torq Resources 2017) over intersecting faults, similar to the geology of the Keats Zone, which lies 3.5 kilometres to the east.
– Ground work, including geophysics, prospecting, and trenching is being planned for immediate follow up.
Michael Collins, President and Chief Executive Officer of Exploits, commented: “Exploits is very pleased to present these GoldSpot generated targets on the Schooner Fault. We have a very large land package with numerous existing high value gold targets. The Exploits team is working to build a comprehensive database with prospecting and geophysical data acquisition. GoldSpot’s technical team, Exploits Subzone knowledge base and A.I. process will continue to drive targeting and discovery faster and better than our exploration peers.”
Denis Laviolette, Executive Chairman and President of GoldSpot, said: “GoldSpot believes that Newfoundland is a highly prospective area for exploration. The Schooner Fault is potentially in the same geological environment, has the same trend, and is near GoldSpots and NFGC’s very prolific Appleton and JBP Fault zones. The GoldSpot method of identifying these potential mineralized structures is creating prospective areas for our clients we feel is prime areas for recommended follow up work. GoldSpot continues to be the premier geological and data partner in Newfoundland. We believe Exploits stands an excellent chance to make a significant discovery along the Schooner fault as well as on other project areas in its claim portfolio in the region.
Through historical compilation work, re-interpretation, and GoldSpot’s data analysis techniques, the Schooner Fault (seen in Figure 1), a secondary parallel structure to the Appleton Fault approximately 3.5 kilometres west and hosting NFGC’s Keats discovery zone on the Appleton, was able to be identified. The new structure is northeast-southwest trending and lies coincident with Torq Resources 2017 till program in which they reported anomalous gold in till results in close proximity to the interpreted zone.
Previous Property Exploration
Prior to acquiring the exploration rights to the property, Torq Resource Inc. (“Torq”) held the land and explored it actively up until 2018. During that time Torq released grab and till samples in press releases to the market highlighting the grade strike and continuity in the exploration area over what would be discovered as the Schooner Fault. The Press Release is available in its entirety at:
The full till results reported for the area in the September 21st, 2017 press release by Torq has not yet been released publicly in its entirety. The accuracy and location of the reported till results are currently being vetted by GoldSpot or Exploits and as such the map contained in the historic linked Press Release should be used for informational purposes only…