Exploits Confirms Gold Mineralization at Bullseye "West" and Extends High-Grade Zone at Depth at Horseshoe
Exploits Discovery Corp. (NFLDF) has reported gold assay results from its diamond drilling campaign at the Bullseye property. Key findings include confirmation of gold mineralization on the western flank of the Appleton Fault Zone and extension of the high-grade zone at the Horseshoe gold discovery.
Notable results include drill hole BE-24-030, which revealed a significant gold intercept of 25.36 g/t Au over 1.60 metres at approximately 260 metres depth. Other notable intersections include BE-24-025 with 1.24 g/t Au over 1.70m and BE-24-028 with 2.67 g/t Au over 1.20m.
The company currently has approximately $5 million in cash and is awaiting gold assays from five additional drill holes focused on the Horseshoe and Saddle mineralized zones. The company plans to announce results from its 2024 till sampling program at the Gazeebow South property this quarter.
Exploits Discovery Corp. (NFLDF) ha riportato i risultati delle analisi di oro provenienti dalla sua campagna di perforazione a diamante presso la proprietà Bullseye. Le principali scoperte includono la conferma della mineralizzazione aurifera sul fianco occidentale della Appleton Fault Zone e l'estensione della zona ad alto grado alla scoperta d'oro Horseshoe.
Risultati notevoli includono il foro di perforazione BE-24-030, che ha rivelato un'intercettazione significativa di oro di 25,36 g/t Au su 1,60 metri a circa 260 metri di profondità. Altre intersezioni significative includono BE-24-025 con 1,24 g/t Au su 1,70m e BE-24-028 con 2,67 g/t Au su 1,20m.
L'azienda attualmente dispone di circa 5 milioni di dollari in contante e sta aspettando i risultati delle analisi di oro provenienti da ulteriori cinque fori di perforazione focalizzati sulle zone mineralizzate Horseshoe e Saddle. L'azienda prevede di annunciare i risultati del programma di campionamento del suolo 2024 presso la proprietà Gazeebow South questo trimestre.
Exploits Discovery Corp. (NFLDF) ha reportado los resultados de los ensayos de oro de su campaña de perforación con diamante en la propiedad Bullseye. Los hallazgos clave incluyen la confirmación de la mineralización de oro en el flanco oeste de la Appleton Fault Zone y la extensión de la zona de alta ley en el descubrimiento de oro Horseshoe.
Resultados notables incluyen el agujero de perforación BE-24-030, que reveló una intercepción significativa de oro de 25,36 g/t Au sobre 1,60 metros a aproximadamente 260 metros de profundidad. Otras intersecciones notables incluyen BE-24-025 con 1,24 g/t Au sobre 1,70m y BE-24-028 con 2,67 g/t Au sobre 1,20m.
La compañía actualmente tiene aproximadamente 5 millones de dólares en efectivo y está a la espera de los ensayos de oro de cinco agujeros de perforación adicionales enfocados en las zonas mineralizadas Horseshoe y Saddle. La compañía planea anunciar resultados de su programa de muestreo de suelos de 2024 en la propiedad Gazeebow South este trimestre.
Exploits Discovery Corp. (NFLDF)는 Bullseye 자산에서 다이아몬드 시추 캠페인으로부터 금 분석 결과를 보고했습니다. 주요 발견 사항으로는 Appleton Fault Zone의 서쪽 경계에서 금 광물화를 확인한 것과 Horseshoe 금 발견지에서 고등급 구역의 확장이 포함됩니다.
주목할 만한 결과로는 약 260미터 깊이에서 1.60미터에 걸쳐 25.36g/t Au의 상당한 금 간섭을 드러낸 시추 구멍 BE-24-030이 있습니다. 기타 주목할 만한 교차점으로는 BE-24-025가 1.70m에 걸쳐 1.24g/t Au, BE-24-028이 1.20m에 걸쳐 2.67g/t Au입니다.
현재 회사는 약 500만 달러의 현금을 보유하고 있으며, Horseshoe 및 Saddle 광물화 구역에 집중한 추가 다섯 개의 시추 구멍에서 금 분석 결과를 기다리고 있습니다. 회사는 이번 분기에 Gazeebow South 자산에 대한 2024년 토양 샘플링 프로그램의 결과를 발표할 계획입니다.
Exploits Discovery Corp. (NFLDF) a rapporté les résultats des analyses d'or de sa campagne de forage diamanté sur la propriété Bullseye. Les principales découvertes comprennent la confirmation de la minéralisation en or sur le flanc ouest de la zone de faille Appleton et l'extension de la zone à haute teneur de la découverte d'or Horseshoe.
Les résultats notables incluent le trou de forage BE-24-030, qui a révélé une interception significative d'or de 25,36 g/t Au sur 1,60 mètre à environ 260 mètres de profondeur. D'autres interceptions notables comprennent BE-24-025 avec 1,24 g/t Au sur 1,70m et BE-24-028 avec 2,67 g/t Au sur 1,20m.
L'entreprise dispose actuellement d'environ 5 millions de dollars en espèces et attend les analyses d'or de cinq autres trous de forage axés sur les zones minéralisées Horseshoe et Saddle. L'entreprise prévoit d'annoncer les résultats de son programme de prélèvement de sol 2024 sur la propriété Gazeebow South ce trimestre.
Exploits Discovery Corp. (NFLDF) hat die Goldanalysen aus seiner Diamantbohrkampagne im Bullseye-Grundstück veröffentlicht. Zu den wichtigen Erkenntnissen gehören die Bestätigung der Goldmineralisierung an der westlichen Flanke der Appleton Fault Zone sowie die Erweiterung der hochgradigen Zone bei der Goldentdeckung Horseshoe.
Bemerkenswerte Ergebnisse umfassen das Bohrloch BE-24-030, das einen signifikanten Goldtreffer von 25,36 g/t Au über 1,60 Meter in etwa 260 Meter Tiefe zeigte. Weitere bemerkenswerte Einschnitte sind BE-24-025 mit 1,24 g/t Au über 1,70m und BE-24-028 mit 2,67 g/t Au über 1,20m.
Das Unternehmen verfügt derzeit über etwa 5 Millionen Dollar in bar und erwartet die Goldanalysen von fünf weiteren Bohrlöchern, die auf die mineralisierten Zonen Horseshoe und Saddle fokussiert sind. Das Unternehmen plant, in diesem Quartal Ergebnisse seines Bodenprobenprogramms 2024 für das Grundstück Gazeebow South anzukündigen.
- High-grade gold intercept of 25.36 g/t Au over 1.60 metres in hole BE-24-030
- Successful extension of high-grade mineralization at depth in Horseshoe Zone
- Strong cash position of $5 million
- Confirmation of gold mineralization on western flank of Appleton Fault Zone
- None.
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
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:
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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
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
FAQ
What were the key gold assay results from NFLDF's recent Bullseye drilling program?
How deep is the new gold mineralization discovered by NFLDF at the Horseshoe Zone?
What is NFLDF's current cash position as of February 2025?
How many additional drill hole results is NFLDF waiting for from the Bullseye property?
