Exploits Discovery Corp. (CSE:NFLD) continues to make strong progress with its drilling and exploration work in 2021 with a major focus on the prospective Appleton Fault in Newfoundland.
The company has completed 10,481m of drilling since June 2021, 17,709 line km of VTEM airborne surveys covering 1,699 sq. km; conducted eight discrete target reviews with Goldspot Discoveries Corp on Exploits’ ground, and 10 discrete field prospecting programmes.
A review of tenure has reiterated the company’s focus on its 37 km (strike length) of the Appleton Fault. With this in mind, the company has applied for three new drill permits along the Appleton Fault located within the Dog Bay claim group.
Highlights
- – Exploits has completed 10,481m of drilling across three of five currently permitted drill targets in the Exploits Subzone, Newfoundland. Building on our understanding from 2021, Exploits has initiated permitting for three additional targets along the interpreted Appleton fault on our Dog Bay claims.
– Phase II drilling at Schooner North/South has commenced and preparation is underway for drilling at our Little Joanna target.
– Exploits has completed 17,709 line km of VTEM survey including full coverage of the interpreted Appleton Fault on northern claims. Quality geophysical data has proven to be critical to discovery on the Appleton Fault targets.
– The company has drilling planned into the spring of 2022 and with approximately $13 million in cash; and is well funded to aggressively pursue these targets.
“2021 to date has been a very busy and successful year in progressing our Exploits Subzone Projects with drilling, surface exploration and airborne geophysics,” President and CEO, Jeff Swinoga, said.
“It has also been frustrating, with a slow start to the drill program and long wait times for assays to be returned. As with any gold rush, the high volume of drilling activity has hit a logjam at the labs, and, like our shareholders, we are disappointed to not have a consistent stream of results to deliver following all the hard work by our team. That said, Exploits continues to make great progress on our projects in pursuit of discovery in 2021/22, with continued focus on the prospective Appleton Fault Zone.”
Project summaries:
Dog Bay Projects – Appleton Fault & Dog Bay Line
Drilled 13 drill holes totalling 2,235m at Quinlan Veins, full airborne VTEM coverage, conducted 70 line km ground magnetics, collected 938 grab samples, conducted technical reviews with Goldspot and applied artificial intelligence along with technical review to identify potential targets. Permitting three additional drill targets along the 18 km (strike length) of the interpreted Appleton Faultthat cuts through the Dog Bay claims.
Great Bend – Appleton Fault & Joe Batts Pond Fault (JBP)
Partial VTEM coverage, which is expected to be complete in 2021. Focus on the 19 km southern extension of the interpreted Appleton Fault south of Eastern Pond where New Found Gold is having exploration success.
Jonathan’s Pond – GRUB Line Fault
Drilled 21 drill holes totalling 4,471m of drilling at Jonathan’s Pond ‘Main Vein’, full airborne VTEM coverage, conducted 82 line km ground magnetics, collected 154 grab samples; 44 soil samples; 268 chip/channel samples and conducted 2 technical reviews along with artificial intelligence with Goldspot.
Schooner – Schooner Fault
Drilled 10 drill holes totalling 3,775 m of drilling at Schooner North, full VTEM airborne coverage, conducting 127 line km ground magnetics, collected 4 grab samples; 104 soil samples, conducted artificial intelligence and technical reviews with Goldspot. Currently drilling Phase II programme at Schooner North/South.
Little Joanna – Dog Bay Line Fault & Valentine Lake Fault Intersection
Permitting six first-pass drill holes and 1,800m of drilling. Full airborne VTEM coverage, conducted 84 line km ground magnetics and collected 62 grab samples.
Mt. Peyton – Dog Bay Line
First pass prospecting on volcanogenic massive sulphide target, full VTEM airborne coverage, new artificial intelligence and technical review with Goldspot and 26 grab samples. Identification of gold targets on the Dog Bay line trend.
True Grit – GRUB Line Fault
Permitted for 9 drill holes totalling 2,700m of drilling on the True Grit deposit, full VTEM airborne coverage, completed ground prospecting and conducted artificial Intelligence and technical review with Goldspot to generate the new model and targets.
For further information please visit: https://exploitsdiscovery.com/
