Toronto, Ontario--(Newsfile Corp. - February 4, 2025) - Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to report its gold assay results from its recent diamond drilling campaign focused on the western flank of the Appleton Fault Zone ("AFZ") on its Bullseye property. The Company has received the latest assay data from its first six drill holes. Drill hole #25, north of New Found Gold Corp.'s ("NFG") K2 gold zone discovery, confirmed the presence of gold bearing structures on the west side of the interpreted Glenwood Shear. In addition, the Company is pleased to announce that it has extended the high-grade zone at its Horseshoe gold discovery. Drill hole #30 revealed a gold intercept of 25.36 g/t Au over 1.60 metres from localized veining containing visible gold (VG) at a vertical depth of approximately 260 metres below surface, deeper than the previously announced Horseshoe gold zone.
Highlights Include:
- Drill holes BE-24-025 to 029 were designed to test mineralization associated with the Glenwood Shear, as well as other lower order structures that splay from the AFZ, on the western side of the Bullseye property
- Drill hole BE-24-030 was designed to test a portion of the western side of the AFZ as well as extend deeper below the Horseshoe Zone
- The first-pass targeted drilling on the western side of the Bullseye property helped to confirm the association of gold mineralization with faults splaying from the interpreted extension of the Glenwood Shear
- The drill results from BE-24-030 helped to extend the high-grade mineralization deeper, below the initial discovery at the Horseshoe Zone in 2023
- BE-24-025:
- Intersected 1.24 g/t Au over 1.70 m core-length, located at a vertical depth of approximately 210 m below surface
- Including 3.15 g/t Au / 0.50 m
- Intersected 1.26 g/t Au over 2.40 m core-length, located at a vertical depth of approximately 238 m below surface
- Including 3.29 g/t Au / 0.50 m
- Intersected 1.24 g/t Au over 1.70 m core-length, located at a vertical depth of approximately 210 m below surface
- BE-24-028:
- Intersected 2.67 g/t Au over 1.20 m core-length, located at a vertical depth of approximately 65 m below surface
- Including 4.15 g/t Au / 0.65 m
- Intersected 2.67 g/t Au over 1.20 m core-length, located at a vertical depth of approximately 65 m below surface
- BE-24-030:
- Intersected 1.95 g/t Au over 0.90 m core-length, located at a vertical depth of approximately 147 m below surface
- Intersected 1.84 g/t Au over 1.00 m core-length, located at a vertical depth of approximately 149 m below surface
- Intersected 25.36 g/t Au over 1.60 m core-length, located at a vertical depth of approximately 260 m below surface
- Including 20.86 g/t Au / 0.45 m
- Including 49.59 g/t Au / 0.60 m
- Gold assays remain pending from five drill holes specifically designed to follow up on Horseshoe (2023) and Saddle (2024) mineralized zones located on the eastern side of the Bullseye property
Jeff Swinoga, President and CEO, commented, "We are pleased with these new drill results. Not only do the gold assays demonstrate that there is gold mineralization on Bullseye's west side of the AFZ, but our team was also able to show that the previous high grade gold results at our Horseshoe gold discovery extend at depth with a gold intercept of 25.36 g/t over 1.60 metres. The next set of assay results will be from our follow-up drilling into our Horseshoe and Saddle gold zones, on the eastern side of the Bullseye claims, where we previously announced gold intercepts such as 67.55 g/t over 3.30 metres."
Jeff further commented, "In addition, we plan on announcing the latest results of our 2024 extensive till sampling program on our large Gazeebow South property this quarter. As at today's date, the Company has approximately $5 million in cash and is well positioned for 2025 with a strategic land position and supportive shareholders, including Eric Sprott."
Photo A: Select core photos from drill hole BE-24-030. Visible gold was observed from 382.45 - 383.05m within a section of core displaying quartz veining and the presence of sulphidized stylolites. (*Note that these photos are not intended to be representative of all gold mineralization in BE-24-030).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6393/239531_3915a11ce4c26af5_002full.jpg
Figure 1: Plan map of Bullseye property; recent collars from Phase 4 drilling. Drill holes BE-24-025 and 026 were designed to test mineralization associated with the Glenwood Shear. Drill Holes BE-24-027 to 030 were designed to test the presence of mineralized secondary structures that may splay from the western side of the AFZ, as it proceeds through the Bullseye property. Drill hole BE-24-030 was purposefully extended considerably beyond the western side of the AFZ, in order to appraise the deep extension of the cluster of gold mineralization previously encountered in the Horseshoe Zone drilling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6393/239531_3915a11ce4c26af5_003full.jpg
Figure 2: Simplified cross section (looking west) of Phase 4 drilling at the Bullseye property. The plotted large discs indicate assay values (Au g/t) from current release; the smaller discs from past 2024 releases.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6393/239531_3915a11ce4c26af5_004full.jpg
Table 1: Select drill core assays.
| 2024 Bullseye Drilling - Selected Assays | |||||||||
| Hole ID | From (m) | To (m) | Length (m) | Vertical Depth (m) | Analysis Type | Au Assay (ppb)* | Au Assay (g/t) | Au - Weighted Average Grade (g/t )* | Notes |
| BE-24-025 | 303.50 | 305.20 | 1.70 | ~210m | FA | 1,240.00 | 1.24 | 1.24 g/t Au / 1.70m | |
| Inc | 304.10 | 304.60 | 0.50 | 3,149.00 | 3.15 | ||||
| AND | 337.00 | 337.80 | 0.80 | ~235m | FA | 552.00 | 0.55 | ||
| AND | 340.60 | 343.00 | 2.40 | ~238m | FA | 663.00 | 0.66 | 1.26 g/t Au / 2.40m | |
| Inc | 340.95 | 341.45 | 0.50 | 3,291.00 | 3.29 | ||||
| AND | 344.85 | 346.50 | 1.65 | ~240m | FA | 1,330.00 | 1.33 | 1.33 g/t Au / 1.65m | |
| Inc | 344.85 | 345.70 | 0.85 | 1,601.00 | 1.60 | ||||
| BE-24-026 | 58.80 | 60.20 | 1.40 | ~60m | FA | 525.00 | 0.53 | ||
| BE-24-027 | 57.65 | 58.10 | 0.45 | ~50m | FA | 463.00 | 0.46 | ||
| BE-24-028 | 94.40 | 95.60 | 1.20 | ~65m | MET | 2,670.00 | 2.67 | 2.67 g/t Au / 1.20m | |
| Inc | 94.40 | 95.05 | 0.65 | 4,151.00 | 4.15 | VG Noted | |||
| BE-24-029 | 117.40 | 117.90 | 0.50 | ~100m | FA | 1,283.00 | 1.28 | ||
| AND | 119.05 | 119.65 | 0.60 | ~102m | FA | 537.00 | 0.54 | ||
| AND | 166.00 | 167.25 | 1.25 | ~140m | FA | 531.00 | 0.53 | ||
| AND | 170.00 | 170.75 | 0.75 | ~143m | FA | 571.00 | 0.57 | ||
| BE-24-030 | 200.10 | 201.00 | 0.90 | ~147m | FA | 1,949.00 | 1.95 | ||
| AND | 203.00 | 204.00 | 1.00 | ~149m | FA | 1,841.00 | 1.84 | ||
| AND | 287.50 | 288.20 | 0.70 | ~198m | MET | 613.00 | 0.61 | ||
| AND | 326.40 | 327.05 | 0.65 | ~225m | FA | 1,123.00 | 1.12 | ||
| AND | 371.40 | 373.00 | 1.60 | ~254m | FA | 960.00 | 0.96 | 0.96 g/t Au / 1.60m | |
| Inc | 371.40 | 372.25 | 0.85 | 1,386.00 | 1.39 | ||||
| AND | 381.45 | 383.05 | 1.60 | ~260m | MET | 25,630.00 | 25.36 | 25.36 g/t Au / 1.60m | |
| Inc | 382.00 | 382.45 | 0.45 | 20,855.00 | 20.86 | ||||
| Inc | 382.45 | 383.05 | 0.60 | 49,589.00 | 49.59 | VG Noted | |||
| *Assays reported direct from lab certificate. Screen-Met samples are 'Weighted Averaged ppb' as calculated from lab | |||||||||
| **All intersections are core intervals and do not represent true thickness | |||||||||
Table 2: Drill collar data.
| Bullseye - Collar Information for Reported Drill Holes | ||||||
| Hole ID | Easting | Northing | Elevation (m) | Azimuth | Dip | Length (m) |
| BE-24-025 | 659017 | 5430252 | 66 | 340 | -45 | 351 |
| BE-24-026 | 659010 | 5430256 | 66 | 318 | -60 | 170 |
| BE-24-027 | 659463 | 5430760 | 42 | 320 | -45 | 280 |
| BE-24-028 | 659454 | 5430909 | 43 | 320 | -45 | 250 |
| BE-24-029 | 659454 | 5430909 | 43 | 320 | -60 | 202 |
| BE-24-030 | 659354 | 5430936 | 39 | 120 | -45 | 400 |
| Coordinates Reported in NAD-83 | ||||||
Bullseye Gold Property
The Bullseye claims were staked by Exploits in September 2022 and are contiguous to NFG's Queensway and Kingsway projects. The Company considers these to be highly prospective because geological interpretation shows they directly overlay a 1,200 by 800 metre segment of the AFZ and its related splay structures.
Quality Assurance - Quality Control ("QA/QC")
All prospective NQ core is logged and delineated for sampling by an Exploits' professional geologist. The core is subsequently halved by a diamond-bladed core saw by the Company's technicians with one half being placed in a bag with a unique sample identification. The remaining half core is retained within the Company's secure storage facility in Gander, NL. Sample bags are sealed and then shipped directly to Eastern Analytical Ltd. Certified standards and blanks are inserted at defined intervals following the Company's QA/QC documented procedures, representing approximately 5% of all samples sent for assaying. All core samples are currently analyzed at Eastern Analytical Ltd. of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Exploits. Samples are analyzed using fire assay (30g) with AA finish (Au-FAA 30 ppb process) and/or a four-acid digestion followed by multi-element ICP-OES analysis. All samples with visible gold or assaying above 10.0 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Metallic screen assays are reported as 'Weighted Averaged ppb' directly calculated from the lab.
National Instrument 43-101 Disclosure
Ken Tylee, P.Geo., VP of Exploration with Exploits, is a qualified person within the Provinces of Ontario and Newfoundland and Labrador as defined by NI 43-101 standards. Mr. Tylee has reviewed and approved the technical information presented herein.
About Exploits Discovery Corp.
Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. Exploits is utilizing its experienced, talented team and geologic understanding with the vision to become one of the most successful explorers in Canada.
On Behalf of the Board
/s/ "Jeff Swinoga"
President and CEO
For more information, please contact:
Shanda Kilborn
VP, Corporate Development & Investor Relations
+1 (778) 819-2708
shanda@exploits.gold
https://exploitsdiscovery.com
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Acknowledgments
Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239531
SOURCE: Exploits Discovery Corp.
