March 30, 2021
Vancouver, British Columbia – March 30, 2021 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634-FF) is pleased to announce that it has received the drill permit for 3,000 metres of drilling at its 100% wholly owned Schooner gold project (the “project”) located in the Exploits Subzone, Newfoundland. The Company has also expanded its airborne VTEM survey in the southern projects, to include a second helicopter flying the northern projects focusing on the Appleton and Dog Bay Line Fault corridors.
- Exploits received diamond drilling permits for 12 holes totaling a length of ~3,000 metres at the Schooner Prospect in the Mt. Peyton Gold Project.
- The company has expanded its airborne VTEM geophysical survey that was flying on Exploits’ southern projects to cover the Mt. Peyton and Dog Bay Gold Projects. A second helicopter has commenced flying these new lines focusing on the Appleton and Dog Bay Line Fault Zone corridors which include the Schooner, Little Joanna Veins, and Quinlan Veins targets.
- Tightly spaced (50m) ground magnetometer surveys are underway at Schooner, in addition to the airborne VTEM, to enhance the definition of the target to drill ready scale.
- Exploits drilling placement follows on the same targeting techniques used by New Found Gold Corp. at the Keats Zone; targeting secondary and tertiary displacement structures that are permissive for the deposition of gold that has been mobilized up through deep seated structures such as the Appleton or Schooner Faults.
- The Company is fully funded for its 12,000m spring and summer drill program with 2 targets permitted and 3 drill permit applications pending.
Michael Collins, President and Chief Executive Officer of Exploits, commented: “The past six months at Exploits has been about prospecting, trenching, consolidating historical information, and prioritizing targets. The spring and Summer of 2021 are about drilling for Discovery. The schooner permit is the second of a minimum of 5 drill permits that we intend to have in place when the snow comes off in the spring of 2021.”
2021 Diamond Drill Permit Locations
Figure 1: Map of Exploits Discovery claim boundaries with the location of the approved Schooner and True Grit drill permits, as well as the locations of the pending Little Joanna Veins, Quinlan Veins, and Jonathan’s Pond drill applications.
Figure 2: Preliminary drill plan for the Schooner prospect with comparison and spatial relationship to New Found Gold’s Keats, Lotto, and Knob zones.