Exploits Discovery Corp. (CNSX:NFLD.CN) (OTC:NFLDF) has received positive initial assay results from its Jonathan’s Pond Target and the remaining assays from its Quinlan Veins Target in Newfoundland, Canada.
“These assay results are an encouraging start to understanding the potential of these targets as well as similar targets on our large land package,” President and CEO, Jeff Swinoga, said.
“For Jonathan’s Pond, the western extension of the near-surface gold mineralisation intersection is coincident with gold samples collected from trenching performed in 2020. These initial drilling results will inform our follow-up exploration plans for the areas that are open to the west of Jonathan’s Pond and to the north of Quinlan Veins.”
Highlights
- Exploits have received fire assay results for 16 of the 21 drill holes at Jonathan’s Pond. Drill hole JP-21-019 intersected 4.5 m of near surface mineralisation averaging 1.57 g/t Au from 16 to 20.5 m downhole; Identified potential mineralised trend which is open to the west.
- All Quinlan Veins assay results have been received. While these recent assay results did not add significant intersections to the previously reported 8.69 g/t Au over 0.45 m the mineralised possible mineralised trend remains open and untested to the north.
“Once all ICP data has been received and additional detailed geochemical interpretation is reconciled with these drilling results we will prioritise additional targeting signatures at Jonathan’s Pond,” Mr Swinoga said.
“We are pleased to see our assays results coming in at a faster pace and are hopeful that we will be able to report results from our Schooner North, Schooner South, Little Joanna and remaining Jonathan’s Pond targets soon.
“In the near term, we will be updating investors on our extensive exploration plans this year, including several new targets. We have been gearing up our exploration program and team to match the tremendous potential we see at our properties.”
Jonathan’s Pond
The 2021 drilling programme at the Jonathan’s Pond Project tested the down dip extension of the known mineralized quartz vein system identified by prospecting, and subsequently uncovered during its 2020 trenching programme. Drilling also tested anomalous signatures identified from the Company’s 2020 SGH soil programs.
Exploits has received gold fire assay results for 16 of 21 holes and ICP-34 results for 15 of 21 holes from the 2021 Jonathan’s Pond drill program. Fire assay results for holes JP-21-013, JP-21-014, JP-21-015, JP-21-018, and JP-21-020 are pending.
Drill hole JP-21-019, was collared to specifically test the down dip extension of 5 m ~east-west trending quartz veins with anomalous gold and visible pyrite and arsenopyrite. A 4.5 m section of core from 16 to 20.5 m averaged 1.57 g/t Au.
Mineralisation in the drill core occurs within a series of subparallel quartz veins, up to 7 cm wide hosted within gabbro and containing associated pyrite and arsenopyrite. This intersection is interpreted as being coincident with the anomalous gold samples collected from the 2020 surface trenching programme.
Based on the 2020 trenching and these results, this potential mineralised trend remains open to the west and is largely untested.
Drill holes JP-21-001 to JP-21-017 were designed to test the down dip extension of lower order east-west trending quartz veining, located adjacent to the northeast-southwest trending main vein, which produced grab samples containing visible gold and returned fire assays of up to 28 g/t Au. It was noted in these drill holes that sulphide mineralisation, including arsenopyrite + pyrite ± chalcopyrite, was concentrated along the lower contact of the Main Vein.
XRF analysis confirmed the presence of elevated arsenic ± antimony, which are typical pathfinder elements for targeting gold mineralisation, along this lower contact, which influenced drilling following along the northeast trending section of the Main Vein.
Near-surface mineralisation intersected in drill holes JP-21-016A and JP-21-017 indicates a potential mineralised trend which is open to the east.
Drill holes JP-21-013, JP-21-014, JP-21-018, and JP-21-020 were designed to test significant SGH Au anomalies to the southwest and north of the Main Vein identified from SGH soil sampling performed by Exploits in 2020. JP-21-013 and JP-21-014 also undercut previous drilling to provide additional geometric controls of the quartz vein system. Assays remain outstanding for these noted holes.
Additional detailed geochemical interpretation will be performed once all ICP data has been received to further define any additional targeting signatures.
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