Exploits Discovery Corp. (CSE: NFLD | OTCQX: NFLDF) has acquired 100% interest in the Gazeebow North property. The property is adjacent to existing claims held by the company and consolidating these Gazeebow properties strategically increases Exploits’ land package by 64km2.
The company’s most recent structural interpretation indicates the Appleton Structural Corridor and related secondary splay structures may extend across the Gazeebow area, suggesting the potential to host gold mineralization at Gazeebow North.
Jeff Swinoga, Exploits CEO, said, “We are excited to consolidate these two properties. With our drilling campaign recently kicked off at our Titan gold target just 10 km north, following our completed Alpha IP survey, these Gazeebow claims are becoming a key area of interest consistent with our Exploration 2.0 methodology. Mapping and prospecting crews will be mobilized immediately. In the next month, we also intend to expand the company’s airborne VTEMTM geophysical survey area.”
The claims acquired by Exploits are situated approximately 40km northeast of New Found Gold’s (TSXV: NFG) Keats gold discovery within the Appleton Structural Corridor. A series of forestry access roads branching off provincial highway 330 provide safe road access into the exploration area, the company says.
The purchase agreement doubles the current land position at the Gazeebow area, encompassing a total land area of 151km², straddling the northern extent of the interpreted Appleton Structural Corridor, bound to the east by the interpreted Dog Bay Line, and bound to the west by the GRUB line.
The central portion of the Gazeebow North property is underlain by the prospective Davidsville Sedimentary Group, known to host high-grade gold mineralization within the Exploit’s Subzone. Recent structural interpretation suggests that the eastern portion of the property is transected by approximately 4km of strike-potential displaying key, northeast-trending, structural patterns indicated by adjacent geophysical surveys (2021-2022: VTEM and Alpha IP) and recent geological mapping. The Gazeebow North claims have been previously underexplored leaving ample room for significant new discoveries.
Exploits is actively permitting the Gazeebow North claims for additional airborne geophysical surveys (VTEM and LiDAR), prospecting, and geochemical sampling (tills and soils).
Mr Swinoga added, “We have over ten thousand soil, till, and rock assays pending from our extensive and on-going regional field programmes initiated in late April 2022. With over $10M in cash and no debt, the company is well capitalized to continue our pursuit of gold discoveries on one of the largest and most strategic land packages in the beautiful province of Newfoundland and Labrador.”
To find out more, visit https://exploitsdiscovery.com/
