March 24, 2021
Vancouver, British Columbia – March 24, 2021 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE: NFLD) (OTCQB: RNRRF) (FSE: 634-FF) is pleased to outline its drilling targets at the Jonathan’s Pond Project (the “Project”) located in the Exploits Subzone, Newfoundland. The Company also announces that it will hold an online special investors meeting March 25th, 2021 (See details below).
- Exploits defined two high priority targets at the Jonathan’s Pond Gold Project JP Vein, and a 2-kilometre long demagnetized fault zone.
- The JP Vein target contains high grade gold in quartz veining up to 28 g/t Au, low grade gold in wall rock returning 0.44 g/t Au over 5 meters, including 1 meter at 0.80 g/t Au in trenching, and a further 300 metres of anomalous unexplored strike length of gold indicated by Spatiotemporal Gas Hydrocarbon (SGH) soil samples.
- The 2-kilometre fault zone is a demagnetized geophysical target located 1.3 km northeast of the highest documented cluster of heavy mineral concentrate (HMC) samples on the island of Newfoundland and 1.6 km northeast of a float boulder that assayed 700 g/t Au (Keats, 2004).
- These targets are a high priority for the Spring 2021 drilling program.
Exploits identified two high priority target areas on the Jonathan’s Pond Gold Project through late 2020 trenching, outcrop mapping, SGH soil sampling, and geophysical analysis. The JP Vein received the majority of the 2020 field work that resulted in the identification of the gold bearing phase of quartz veining and its structural orientation, with samples assaying up to 28 g/t Au. The SGH soil sampling results over this area coincided with this orientation and opened up a further 300 metres of additional unexplored strike length to be followed up on.
The structural information collected during outcrop mapping allowed for a detailed geophysical analysis of historic high resolution airborne magnetic data over the Project. A series of tight folds were defined with an apparent 2-kilometre demagnetized secondary fault. This secondary fault displays the preferred orientation similar to the gold bearing phase of quartz veining as seen at the JP Vein. Demagnetized “destruction” fault zones are important in orogenic gold systems as it demonstrates fluids potentially carrying gold have propagated through this structural conduit and replaced the magnetic minerals with non-magnetic alteration minerals, such as sericite (mica). This target is located 1.3 km from the highly elevated, historic gold in till samples (New Found Gold Corp., 2017).
Michael Collins, President & Chief Executive Officer of Exploits, commented: “Jonathan’s Pond has delivered great targets for us that are backed by solid geology field work with high grade assays and large scale structures to be targeted.”
“We also welcome you to join us tomorrow for a live discussion on the history and outlook of the prolific Exploits Subzone, also known as the “Newfoundland Gold Belt. We will also joined by Al and Kevin Keats and Gary Lewis, who have played an instrumental part in the identification of Jonathan’s Pond and other targets within the Exploits Subzone Gold Belt.”