Exploits Discovery begins drilling on Titan gold target
Vancouver, British Columbia – TheNewswire – August 23, 2022 – Operates Discovery Corp. (CSE: NFLD) (OTC: NFLDF) (FSE: 634) (the “Company”) is pleased to announce that it has commenced its 2022 drilling campaign on its Titan gold target located approximately 42 kilometers north-north -is of Discovery of high-grade Keats-Lotto gold from New Found Gold. Initial drilling consists of approximately 10 to 15 diamond drill holes totaling approximately 3,500 meters. The company consider using ‘fan’ style drill patterns with multiple angled undercuts testing sub-parallel mineralization with potential continuity at depth. Titan is evidenced by historic drill intersections of up to 10.22 g/t Au over 3.35 meters in drill core (historic drill hole WP-1; Crosshair Exploration, 2004) and samples from Mining recent rocks returning values of up to 57.5 g/t Au. Exploits believes that past drilling, just 1,559 meters from 20 shallow holes, was insufficient and that drilling is warranted.
This drilling campaign plans to test the gold mineralization suggested by the relationships between:
Geophysical responses from the recent Alpha IP survey,
Our understanding of historical drilling results at very shallow depth (less than 100 meters vertical depth) by Crosshair Exploration in 2004,
Delineation of local stratigraphy, including “black shales” and gabbroic sills potentially favored for gold, and
Correlation with high grade rock samples up to 57.9 g/t Au.
President and CEO Jeff Swinoga said, “The start of drilling on our Titan property is a key milestone in executing and applying our new 2.0 exploration methodology. The hard work and dedication of our talented local team has gotten us to this point, and we look forward to the results. In addition, more than ten thousand soil, till and rock analyzes are pending from our extensive ongoing regional field programs launched at the end of April 2022. We anticipate that some of these analyzes should improve our current targets and potentially generate new ones. news that Exploits can develop in progress. forward. With over $11 million in cash and no debt, the company is well capitalized to continue its pursuit of gold discoveries on one of the largest and most strategic land packages in beautiful Newfoundland and -Labrador.
Golden Target Titan
State-of-the-art proprietary Alpha IP™ An induced polarization (“Alpha”) geophysical survey was conducted earlier this summer by Simcoe Geoscience at Titan, overriding a 1,000 x 1,000 meter block of structurally prepared/deformed bedrock (see July 18 press release 2022). Compilation work by the Exploits exploration team indicated that the mineralization is associated with altered gabbroic intrusions and localized irregular quartz veining that coincide with the geophysical responses evidenced by the Alpha IP survey. Interpretation indicated several areas of combined conductivity (high metal content)/resistivity (silicification-veining potential) responses. This survey is an additional layer that complements historical surface sampling, trenching and drilling and has identified the potential for deeper and more extensive mineralization.
Click here for more pictures of Titan.
MCL Drilling of Deer Lake has been contracted to provide its drilling equipment and crew expertise in central Newfoundland for this program. The Titan property has been fully licensed by the province and is located within a well-developed network of logging roads.
National Instrument 43-101 Disclosure
Ken Tylee, P.Geo., Vice President of Exploration with Exploits, is a qualified person in the provinces of Ontario and Newfoundland and Labrador as defined by NI 43-101. Mr. Tylee has reviewed and approved the technical information presented here.
About Exploits Discovery Corp.
Exploits is a Canadian mining exploration company focused on the acquisition and development of mining projects in Newfoundland and Labrador, Canada. The Company is actively exploring its gold projects in the Exploits subzone, covering approximately 2,000 square kilometers of mining concessions. From the company Eexploring 2.0 methodology focuses on the discovery of high-grade structurally hosted epizonal gold similar to the success of New Found Gold in the Keats and Lotto zones in the Appleton area. Exploits leverages its local team and geological understanding to become one of the most expansive explorers in the Exploits subzone.
ON BEHALF OF COUNCIL
/s/ “Jeff Swinoga”
President and CEO
For more information please contact:
Vice President, Investor Relations
+1 (778) 819-2708
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of the accuracy of this press release.
This press release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. These forward-looking statements reflect management’s current beliefs and are based on assumptions made by the Company and information currently available to it. 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 exploration and other Company activities, environmental risks, future metal prices, operating risks, accidents, labor issues work, delays in obtaining government approvals and permits, and other risks in the mining industry. All forward-looking statements made in this press release are qualified by these cautionary statements and those contained in our continuous disclosure documents available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof, and the Company undertakes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable law.
Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program of the Department of Natural Resources, Government of Newfoundland and Labrador.