Exploits Announces Diamond Drilling Results at Titan Gold Target
Vancouver, January 25, 2023 - Exploits Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) ("Exploits" or the "Company") announces its results from the 2022 drilling program at the Titan gold target, located approximately 40 kilometres north-northeast of its Bullseye claims adjacent to New Found Gold's Keats and Lotto high-grade gold discoveries. This program successfully confirmed the presence of the gold mineralization system identified by a compilation of historic data; and traced the system to a vertical depth of 150 metres distributed over a strike-length of approximately 300 metres along the main drilling trend.
Ken Tylee, Vice President of Exploration of Exploits, commented, "Our drilling indicates that gold mineralization at our Titan property is preferentially hosted within several discordant gabbro blocks that our geologists have now confidently traced to at least the -150 metre depth-level and remain open along their interpreted strike-lines. This work solidifies our opinion on the prospectivity of Exploits' extensive land package along the Dog Bay Line structural setting. Additional work is warranted; however, we are now 100% focused on preparing for the mobilization of the drill rig into Bullseye by mid February."
Jeff Swinoga, Chief Executive Officer of Exploits, added, "While exploration efforts continue at our highly prospective Bullseye gold target, we are pleased that the results from Titan add to our pipeline of future gold discovery opportunities outside of the Appleton Fault corridor."
Drilling Highlights from Titan:
Confirmed the presence of gold mineralization distributed within altered and sulphide-bearing gabbroic sills as indicated by the Alpha IP™ electromagnetic survey.
Established that the orientation of the mineralized zone strikes to the northeast, the shallow-dipping (eastwards) units extend 'away' from the limited near-surface drilling reported by Crosshair in 2004.
Fine grains of visible gold were observed in centimetre-scale veins (TI-22-002 and TI-22-004).
The new drilling results were integrated with surficial mapping and historical data to develop a 3D geological model to better understand the structural controls on gold mineralization at Titan.
Selected intercepts from the 20-hole program (6,059 metre, NQ diameter core) are as follows:
- 3.10 g/t Au over 3.23 m including 16.10 g/t Au over 0.40 m in Hole TI-22-004
- 2.29 g/t Au over 2.09 m including 3.48 g/t Au over 0.39 m in Hole TI-22-001
- 2.82 g/t Au over 3.50 m including 14.80 g/t Au over 0.40 m in Hole TI-22-002
- 4.99 g/t Au over 0.35 m, and 2.21 g/t Au over 1.90 m including 4.68 g/t Au over 0.50 m in Hole TI-22-005
- 3.86 g/t Au over 0.99 m including 7.96 g/t Au over 0.43 m in Hole TI-22-009
- 2.33 g/t Au over 2.00 m including 4.90 g/t Au over 0.52 m in Hole TI-22-010
- 3.69 g/t Au over 1.65 m including 5.66 g/t Au over 0.70 m in Hole TI-22-015
Figure 1: Titan plan map displaying drill collar locations and drill hole gold grade intersections.
To view an enhanced version of Figure 1, please visit:
Figure 2: Vertical section A - A' of the Titan prospect based on 2022 drilling (looking northeast). Interpreted mineralized zone highlighted in yellow.
To view an enhanced version of Figure 2, please visit:
Table 1: Significant drilling results
|Hole_ID||From (m)||To (m)||Interval (m)*||Au (g/t)|
|*All intersections are core intervals and do not represent true thickness|
2022 Titan Diamond Drilling Program:
The 2022 drill program at Titan consisted of 20 NQ sized (4.76 cm diameter coring) drill holes totaling 6,059 metres which was completed by November 25th, 2022. Drill holes tested the mineralized gabbroic intrusions that produced historic drilling intercepts of up 10.22 g/t Au over 3.35 metres (Crosshair, 2004 - Drill hole WP-1). Holes TI-22-017, TI-22-018, and TI-22-020 tested additional geological structures interpreted to control gold mineralization at Titan.
Holes throughout the program were also designed to target geophysical responses highlighted by the Alpha IP™ survey completed for Exploits by Simcoe Geoscience. Interpretation indicated several zones of combined conductivity (elevated metal content) / resistivity (potential silicification-veining) responses.
Table 2: Titan drill collar locations (Datum - NAD83)
|Hole ID||East||North||Elevation (m)||Azimuth||Dip||Depth (m)|
Quality Assurance - Quality Control ("QA/QC")
The NQ core that was selected for sampling was halved by core saw, placed into sample bags with unique sample tags for identification by Company personnel. The bags are then sealed and transported directly to SGS Canada Inc. ("SGS") Mobile Sample Preparation Unit (MSPU) located in Grand Falls - Newfoundland by Company personnel for sample preparation. After preparation, the samples are sent to SGS's analytical laboratory in Burnaby - British Columbia for analysis. At the analytical lab, 30-gram splits are digested by multi-acid (4-Acid) digestion and analyzed for gold by fire assay (method GE_FAI31V5) plus 33 elements by ICP-AES (method GE_ICP40Q12). Certified reference materials and blanks are inserted at defined intervals for QA/QC purposes by the Company, representing approximately 10% of all samples sent for assay.
SGS is an ISO/IEC 17025 certified laboratory and independent of Exploits Discovery Corp.
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. 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. The Company is actively exploring its gold projects in the Exploits Subzone, covering approximately 2,000 square kilometres of mineral tenements. The Company's Exploration 2.0 methodology is focused on discovering high-grade structurally hosted epizonal gold similar to New Found Gold's success at the Keats and Lotto Zones in the Appleton zone. Exploits is leveraging its local team and geologic understanding to become one of the most extensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "Jeff Swinoga"
President and CEO
For more information, please contact:
VP, Investor Relations
+1 (778) 819-2708
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.
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.sedar.com. 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.
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/152434