May 27, 2021
Vancouver, British Columbia – May 27th, 2021 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634-FF) is pleased to announce that it has mobilized a diamond drilling rig, and will commence Phase One drilling today at Exploits’ 100% owned Schooner Prospect (the “Prospect”), located within Exploits’ Mt. Peyton Project (the “project”) in the Exploits Subzone Gold Belt, Newfoundland.
- A diamond drill has been mobilized, and will begin drilling today at the Schooner Prospect, south of the town of Glenwood, in the Mt. Peyton Project.
- The drilling program will test the Schooner Fault Zone identified by GoldSpot Discoveries Corp. (TSX.V: SPOT), a sub-parallel trending fault system located 3.5 km west of the known gold bearing Appleton Fault that hosts New Found Gold’s Keats, Lotto, and Knob Zone gold discoveries.
- Exploits is currently permitted to drill twelve HQ diamond drill holes for an approximate meterage of 3,000m.
- Following phase one drilling at Schooner, Exploits plans to immediately relocate the drill to the Quinlan Vein Prospect at the Dog Bay Project.
Michael Collins, President & Chief Executive Officer of Exploits, commented: “Getting a drill turning marks a significant milestone for the team at Exploits. The Schooner Prospect was selected as the first of our five drill targets due to ground magnetics and airborne VTEM geophysical anomalies highlighting a fault system analogous to New Found Gold’s growing Keats and Lotto deposits along the Appleton Fault. Drilling will allow us to develop our understanding of these structural systems which produce gold mineralization in this gold belt.”
About the Schooner Prospect
The Schooner Fault Zone was identified in early 2021 through historical compilation work of historic till samples, re-interpretation of regional magnetic geophysics, and Exploits’ partner GoldSpot Discoveries Corp.’s (TSXV: SPOT) data analysis techniques. The results delineated a fault structure with coincident gold in till samples trending parallel to the Appleton Fault, approximately 3.5 kilometres to the east, that hosts New Found Gold’s Keats, Lotto, and Knob gold discoveries. During winter and spring of 2021, the Company commenced a tightly spaced, high resolution, airborne VTEM geophysical survey as well as two ground magnetic surveys over the Schooner Fault Zone. The geophysical data has been paramount in delineating the primary and secondary faults and highlighting the high priority targets in preparation for drill placement.
Map of the Schooner Prospect
Drilling 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.
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 1.00 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Standards and blanks are inserted at defined intervals for QA/QC purposed by the Company as well as the lab.
Katie / Duder Lake / Gazeebow West Claim Arbitration
The Company also announces that it has been notified by the Department of Industry, Energy and Technology of the Government of Newfoundland and Labrador that three mineral license applications (31452M, 31453M and 31454M) forming part of its Katie Duder Lake and Gazeebow West projects have been rejected. The applications were rejected due to the process under which they were submitted. The Company intends to seek adjudication of the decision with the Mineral Rights Adjudication Board to ensure that its rights to the licenses are protected and will provide further information as it becomes available. These three claims are non core to the company’s current exploration focus and account for a small percentage of the company’s mineral tenure in the Exploits Subzone.