Exploits Discovery Corp. (CSE: NFLD | OTCQX: NFLDF | FSE: 634) has announced plans to commence drilling at Bullseye’s fully permitted southern claims located along the Appleton Fault Zone (AFZ) in central Newfoundland, Canada early in 2024.
Drilling plans are underway to test the eastern strike potential of the high-grade “Jackpot” gold zones recently reported by New Found Gold Corp. (TSXV: NFG) on their claims bordering the southern segment of the Bullseye property. This programme will initially consist of 2,500m of diamond drilling.
The company’s geophysical surveys, coupled with 2023’s high-resolution LiDAR mapping (airborne light diffraction and ranging), indicate a complex network of second-order splay structures exist within Bullseye; several appear to align on-trend with NFG’s gold mineralization reported at Jackpot and Everest.
“This area of Central Newfoundland is heating up. In the last seven months, four new gold zones have been reported in the vicinity of our Bullseye project, including our own Horseshoe discovery,” commented Exploits CEO and president Jeff Swinoga.
“We are thrilled to announce the launch of our second drill campaign at Bullseye will commence in early 2024. This campaign will primarily focus on appraising the eastern strike extension of NFG’s high-grade Jackpot gold zone as it potentially tracks across the border and into our southern claims.”
The Bullseye claims were staked in September 2022, and are contiguous to the several high-grade gold targets actively being drilled by both NFG and Labrador Gold. The claims are considered by the company’s geologists to be highly prospective because they directly overlay a 1,200 by 800m segment of the Appleton Fault and its related splay structures.
Over a dozen exploration drill rigs have been employed by the three companies operating within this structural-stratigraphic setting over the past three years. The Bullseye property has been fully permitted by the provincial government with the capacity to drill throughout 2024.
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