- Exploits Discovery Corp. (NFLD) spotted fine gold grains in quartz vein clusters at its Bullseye gold property in Central Newfoundland
- Visible gold was identified in two of the first three drill holes
- 10 holes consisting of 3,232 metres have been drilled to date.
- President and CEO Jeff Swinoga said this suggests the potential for making a significant near-surface gold discovery
- Exploits Discovery (NFLD) opened trading at C$0.20 per share
Exploits Discovery Corp. (NFLD) spotted fine gold grains in quartz vein clusters at its Bullseye gold property in Central Newfoundland.
Visible gold was identified in two of the first three drill holes:
- Drill hole BE-23-001
- intersected 8.58 g/t Au over a 1.0 metre core-length located at a vertical depth of 41.3 metres below surface
- including 14.24 g/t Au screen metallic assay contribution from a 0.5 metre sample where a half-dozen fine grains of visible gold were noted within a network of quartz veins
- intersected 8.58 g/t Au over a 1.0 metre core-length located at a vertical depth of 41.3 metres below surface
- Drill hole BE-23-002
- intersected 4.96 g/t Au over 3.0 metres of core-length located at a vertical depth of 119.6 metres below surface
- includes a 16.66 g/t Au assay contribution from a 0.65 metre sample and fine grain visible gold was also observed
- intersected 4.96 g/t Au over 3.0 metres of core-length located at a vertical depth of 119.6 metres below surface
- Drill hole BE-23-003
- intersected 3.02 g/t Au over 1.0 metre at a vertical depth of 145 metres below surface
The company has contracted a diamond drill rig to conduct an initial 6,000-metre drill program of 15 drill holes averaging 400 metres in depth. This highly prospective gold target that borders New Found Gold Corp.’s (TSXV:NFG) recent Lotto North and Lotto gold discoveries along the Appleton Fault Corridor.
A recent ground VLF / MAG survey indicates that the Appleton Fault Corridor transects the Bullseye property over a 1.2 km strike length.
Exploits acquired a 100 per cent interest in 11 mineral claims (2.8 km²) through the province’s map-staking process in September 2022. The company began drilling in February 2023. 10 holes consisting of 3,232 metres have been drilled to date.
President and CEO Jeff Swinoga said this suggests the potential for making a significant near-surface gold discovery.
“It’s fair to say that we are correctly situated in the Appleton gold system at Bullseye. Drilling continues and we look forward to the next set of assays.”
Exploits is a Canadian mineral exploration company focused on acquiring and developing mineral projects in Newfoundland and Labrador. The company is exploring its gold projects in the Exploits Subzone, covering approximately 2,000 km² of mineral tenements.
Exploits Discovery (NFLD) opened trading at C$0.20 per share.