Exploits Discovery Corp. (CSE: NFLD | OTCQX: NFLD FSE: 634) has announced the results of the company’s detailed ground-based geophysical survey conducted on Exploits’ highly prospective Bullseye gold property, located in Newfoundland and Labrador.
Jeff Swinoga, president and CEO, commented, “We believe Bullseye is one of the most exciting gold targets in Central Newfoundland with a significant number of high-grade gold discoveries in close proximity to its borders. These survey results clearly demonstrate the Appleton Fault extends right through the center of our property. Drilling will commence in February, and we believe Bullseye has the potential to be a game-changing catalyst for Exploits as well as the mining industry in the province.”
The data from the survey corroborates the location of the Appleton Fault Corridor which transects the property over a strike length of approximately 1.2km. Bullseye is located approximately 1.8km north of New Found Gold’s Lotto gold discoveries.
Ken Tylee, vice president of exploration, added, “We are pleased that we completed our initial prospecting and geophysical survey at Bullseye ahead of schedule since receiving our exploration permits. These results will be instrumental in targeting and prioritizing our first drill holes in this highly prospective area.”
Overall, not only does the ground VLF / MAG survey indicates that the Appleton Fault Corridor transects the Bullseye property over a strike length of approximately 1.2km, but additional lower-order splay structures have also been identified at Bullseye, trending in both north-northwest and north-northeast directions. The Bullseye property is situated between recent significant gold discoveries made by New Found Gold and Labrador Gold.
Exploits retained Simcoe Geoscience Ltd. to conduct the Bullseye ground geophysics programme. A total of 48 line kilometres were walked with survey lines spaced at 50m in late December 2022. In conjunction with the VLF data, magnetic results from this survey also indicate that the Appleton Fault Corridor extends onto the Bullseye property and was utilized in the interpretation of the lower order splay structures adjacent to the Appleton Corridor.
To find out more, please visit www.exploitsdiscovery.com
