June 3, 2021
Vancouver, British Columbia – June 3, 2021 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634-FF) is pleased to announce that the Company has entered into a 50/50 per-cent staking syndicate agreement with Crest Resources Inc. (“Crest”) (CSE: CRES) and acquired through staking the 100% owned PB Hill Property (the ”Property”) located in prospective siliciclastic sediments of the Exploits Subzone Gold Belt, Newfoundland.
- The PB Hill Property is a large contiguous land package that encompasses a land area of ~1,986 km² (198,600Ha).
- Previous exploration of the Property focused mainly on the highly magnetic mafic/ultramafic rim that hosts numerous significant gold and base metals occurrences, including a historical inferred resource at the Mosquito Hill Prospect of 4.47MT of 0.526g/t Au indicated, 32.9MT of 0.461g/t Au inferred located 3 km east of the property boundary.
- New proven model in the Exploits Subzone Gold Belt suggests that gold is transported in primary structures (ie. Dog Bay Line, Appleton Fault) associated with magnetic lows and deposited in secondary and tertiary structures within the siliciclastic sediments of the Davidsville Group.
- The geophysical signature of the Property highlights multiple untested distinct en-echelon geophysical structures near an extreme low as indicated by the NL Government residual magnetic survey. These are deemed to be high priority targets
- With most terrain that strays from major highways and bush trails virtually unexplored, we believe there is reason to continue to leverage our increased geological understanding in the area and create increased shareholder value.
Following recent discoveries in the Exploits Subzone Gold Belt of Newfoundland, early indications of success across the region show the potential for a district size gold camp that’s being compared to Ontario and Quebec’s Abitibi Greenstone Belt. Although the Exploits Subzone Gold Belt is different in age; similar rheological processes involving gold mobilization in deep seated structures, emplacing gold in later stage secondary, tertiary and quaternary structures indicate the opportunity for thousands of square kilometers of underexplored gold potential.
The Crest technical team have leveraged their diverse knowledge of the geology of central Newfoundland and this switch in exploration mindsight early on, to help build Exploits Discovery Corp. With the largest foothold in the Exploits Subzone, the Crest and Exploits staking syndicate delivers increased shareholder value to both companies on the jointly owned PB Hill Property.
Area Map of The PB Hill Property
About The PB Hill Property
The PB Hill Property is situated in the siliciclastic sediments of the Davidsville Group, in the Exploits Subzone Gold Belt, Newfoundland. The Project encompasses a total land area of approximately 1,986 km² (198,600 Ha). The project has had very little work completed due to the majority of focus revolving around base metal exploration; Exploits sees this as an opportunity for discovery. The perimeter of the project has undergone multiple exploration programs over the past 75 years with the following government documented results:
- Great Rattling Brook (MODS 002D/12/Au 001) – 21 samples over strike of 75m give 0.1 to 2.3 g/t Au in melange of pyritic, graphitic shale bounded by ultramafics and chlorite schist.
- Lizard Pond South (MODS 002D/11/Au 002) – Channel samples upto 12.58 g/t Au over 0.4m. DDH – 2.6 g/t Au over 1.0m, 2.3 g/t Au/1.0m, 1.54 g/t Au/0.7m.
- Lizard Pond North (MODS 002D/11/Au 003) – Grab sample of 1.47g/t Au, trench channel sample of 0.96 g/t Au /1.0m, 0.91 g/t Au /1.0m.
- Breccia Pond (MODS 002D/11/Au 004) – trench channel of 3.24 g/t Au/1.0m, DDH of 0.84 g/t Au/0.7m.
- Swan Lake (MODS 002D/11/Au 005) – Trench channel sample of 3.1 g/t Au /2.0m
- Chiouk Brook (MODS 002D/11/Au 001)– DDH 1986 – 14.5 g/t Au/0.25m US Borax , DDH 2003 – 2.04 g/t Au/5.9m, 3.6 g/t Au /1.7m, 2.7 g/t Au/0.84m
- Mosquito Hill (MODS 002D/05/Au 008) – 4.47MT of 0.526 g/t Au indicated, 32.9MT of 0.461g/t Au inferred. Has DDH such as 0.67g/t Au/103.35m including 7.56 g/t Au/1.0m, 2.61 g/t Au/2.0.
- Brady/Reid Porphyry Zone (MODS 002D/05/Au 006) – 1.1g/t Au/21.5, 1.6 g/t Au/20.0, 2.2 g/t Au/10.6, 0.96 g/t Au/36.1, 1.1 g/t Au/41.4. Best grab sample of 6.9 g/t Au in ultra mafics with high Pyrite and Arsenopyrite.
Exploits and Crest believe that there is major upside potential for additional discoveries in the Exploits Subzone with the application of the new epizonal geological model. With most areas that stray from major highways virtually unexplored, we believe there is reason to continue to leverage our increased geological understanding in the area and create shareholder value.