April 13, 2021
Vancouver, British Columbia – April 13th, 2021 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634-FF) is pleased to announce that the Company has received full permitting from the Newfoundland and Labrador Government for drilling the Little Joanna Vein prospect within the Dog Bay Gold Project (the “Project”), Newfoundland.
- Exploits has received diamond drilling permits for nine holes totaling ~2,250 metres at the Little Joanna Vein prospect at the Project.
- The drill program will focus on intersecting mineralization in the subsurface coinciding with high grade visible gold at surface (up to 194 g/t Au) in quartz veins and associated fault structures identified through analysis of geophysical data.
- The Company is fully funded for its 12,000m spring and summer drill programs and has received drill permits for three targets, True Grit, Schooner, and the Little Jonna prospect, with two applications pending for the Quinlan Vein prospect and Jonathan’s Pond project.
Michael Collins, President and Chief Executive Officer of Exploits, commented: “Exploits continues to deliver drill permit approvals on high priority targets that we have developed in the Exploits Subzone Gold Belt. I am impressed with our team’s ability to generate these gold targets so quickly and look forward to getting a drill turning quickly this spring.”
About 2021 Diamond Drilling
Exploits has identified discrete drill targets at the Little Joanna Vein prospect within its Project and has received drill permits for nine holes (~2,250m). To date, the Company has now received three drill permits, including True Grit, Schooner, and Little Joanna (Figure 1), totaling 33 holes (8,000 metres). The drill holes at Little Joanna will target quartz veins with abundant fine and coarse visible gold that are situated structurally within a secondary fault highlighted by GoldSport Discoveries’ geophysical analysis of regional airborne magnetic geophysics to be associated with, and sub-parallel to, the interpreted Dog Bay Line Fault Zone (Figure 2). The Little Joanna quartz 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. 16 samples from outcrop and subcrop at the Little Joanna Veins were taken in late 2020, with five samples with visible gold returned assays of 194, 133, 123, 119, and 118 g/t Au.
2021 Diamond Drill Permit Locations
Figure 1: Map of the Exploits Discovery claim boundaries with the locations of the approved Little Joanna Veins, Schooner, and True Grit drill permits, as well as the pending Jonathan’s Pond and Quinlan Veins drill applications.
Analysis of the fault structures interpreted by GoldSpot geophysicists and the Exploits team both demonstrates the relationship of the Little Joanna fault within a kink in the regionally extensive Dog Bay Line fault and indicates there is a second, unexplored subparallel fault west of the Little Joanna fault that also has potential to host gold mineralization. These faults and intersecting structures are important in producing the open spaces required for the deposition of large gold deposits and provide another high priority drill target at the prospect. A high resolution airborne VTEM geophysical survey has commenced flying in the area and will cover the Little Joanna Vein prospect to enhance the definition of the fault structures in the target area and provide additional information for step-out drill targeting.
Figure 2: Preliminary drill plan for the Little Joanna Vein prospect with locations of proposed drill holes and outcrop samples 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.
The Little Joanna Veins are located with one of 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 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.