Windfall Geotek Indentifies New Gold Targets on Exploits' Southern Properties
Toronto, Ontario--(Newsfile Corp. - June 28, 2023) - Exploits Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to announce at least 12 gold targets have been identified on its southern properties situated approximately 90 kilometers south of Gander. These targets were generated by Windfall Geotek's use of Artificial Intelligence (AI) and their compilation of available historic data and proprietary machine-learned filtering technologies.
Highlights:
- At least 12 separate gold targets identified through Windfall's AI processing.
- All available current and historical data, including 4,942 gold assay results, were utilized for the study.
- The project area is in South-Central Newfoundland and covers 1,208.75 km2.
- Only a limited amount of exploration over the past 40 years has been conducted in this area, making it an ideal candidate for Windfall's industry-leading appraisal system.
- Option and joint venture opportunities are available on these properties.
Jeff Swinoga, President and CEO, comments, "As we advance our new Horseshoe gold discovery and target development further to the north at our Gazeebow claims, we are pleased that this new technology was able to assist us with identifying numerous gold targets within our relatively unexplored southern claims. We were very impressed with Windfall's predictive AI technology and its ability to highlight the potential for significant upside for new discoveries beyond the scope of known gold mineralization on these properties."
Figure 1: Map showing the distribution of AI Gold Targets on Exploits Discovery's southern claims.
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Geological Context:
The Great Bend, Middle Ridge, and True Grit project areas (Figure 1) located in the Gander River Ultra Mafic Belt (GRUB) regional structure is thought to be very important in the mobilization and concentration of gold mineralization in the province of Newfoundland, Canada.
The Great Bend property is situated within the Dunnage Zone and encompasses (from west to east), the Newfoundland Geological Survey mapped Coy Pond Complex (CPC), Baie d'Espoir Group (BDG), and the Davidsville Group. Lithological units are diverse across the property and consist of Cambrian to Ordovician ophiolitic ultramafics (CPC), Ordovician felsic to intermediate island-arc volcanics and siliciclastic sediments (BDG), as well as Davidsville Group Ordovician marine siliciclastic sediments. The southwest property margin contains the northeast edge of the Early Ordovician Partridgeberry Hills granite which truncates the ophiolite and siliciclastic packages.
The Middle Ridge property straddles a significant regional structure of the Dunnage Zone called the Gander River Ultra Mafic Belt, (GRUB), a regional scale trans-compressional thrust fault marked by a discontinuous belt of ophiolitic rock that forms the south easternmost boundary of the Exploits Subzone. The GRUB Line is believed to be a potential conduit for deep seated fluid flow and a pathway for the transportation of gold bearing fluids. This structure is spatially associated with significant gold deposition across the belt focused in secondary and tertiary structural splays from the GRUB Line, which is hosted in the Silurian siliciclastic sediments of the Exploits Subzone.
The True Grit property lays within the Exploits Sub Zone which is underlain by siliciclastic rocks of the St. Joseph's Cove Group. The St. Joseph's Cove Formation is comprised of siltstone, pelite, sandstone, and conglomerate with minor quartz sericite schists thought to represent altered felsic tuffs. Historical till surveys resulted in numerous high gold grain counts (Pickett, 1990) which led to the discovery by Teck Resources of the True Grit mineralized zones.
Table 1: AI defined gold targets.
| Nr | Target ID | X (Center) Nad83 UTM21 | Y (Center) Nad83 UTM21 | Area (sq km) | NTS Sheet | Lithology (NFLD) |
| 1 | AI_Exploit_GB_MR_Au_01 | 598912 | 5362870 | 1.129 | 002D05 | Plutonic ultramafic / Plutonic mafic (Coy Pond Complex) |
| 2 | AI_Exploit_GB_MR_Au_02 | 598246 | 5362260 | 0.114 | 002D05 | Plutonic ultramafic / Plutonic mafic (Coy Pond Complex) |
| 3 | AI_Exploit_GB_MR_Au_03 | 598121 | 5361870 | 0.132 | 002D05 | Plutonic ultramafic / Plutonic mafic (Coy Pond Complex) |
| 4 | AI_Exploit_GB_MR_Au_04 | 598133 | 5360910 | 0.434 | 002D05 | Plutonic mafic (Coy Pond Complex) |
| 5 | AI_Exploit_GB_MR_Au_05 | 599620 | 5359430 | 0.473 | 002D05 | Plutonic felsic (Partridgeberry Hills Granite) / Plutonic mafic (Coy Pond Complex) |
| 6 | AI_Exploit_GB_MR_Au_06 | 602085 | 5359150 | 0.145 | 002D05 | Volcanic mafic marine (Coy Pond Complex) |
| 7 | AI_Exploit_GB_MR_Au_07 | 601318 | 5365620 | 0.215 | 002D05 | Plutonic ultramafic (Coy Pond Complex) |
| 8 | AI_Exploit_GB_MR_Au_08 | 606342 | 5361360 | 0.367 | 002D05 | Siliciclastic marine (Baie d'Espoir Group) |
| 9 | AI_Exploit_GB_MR_Au_09 | 608805 | 5368860 | 0.383 | 002D05 | Siliciclastic marine (Baie d'Espoir Group) |
| 10 | AI_Exploit_GB_MR_Au_10 | 609007 | 5367950 | 0.415 | 002D05 | Siliciclastic marine (Baie d'Espoir Group) |
| 11 | AI_Exploit_GB_MR_Au_11 | 608224 | 5367000 | 0.093 | 002D05 | Siliciclastic marine (Baie d'Espoir Group) |
| 12 | AI_Exploit_GB_MR_Au_12 | 598864 | 5364710 | 0.048 | 002D05 | Plutonic ultramafic / Plutonic mafic (Coy Pond Complex) |
National Instrument 43-101 Disclosure
All scientific and technical data contained in this press release was reviewed by Grigor Heba, Ph.D., P.Geo., Principal Geologist at Windfall Geotek and a Qualified Person as defined by National Instrument 43-101.
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 focused on discovering high-grade structurally hosted epizonal gold similar to New Found Gold's success along the Appleton Fault zone and parallel structures within the Exploits Subzone.
Exploits is utilizing its experienced, talented local team and geologic understanding with the vision to become one of the most successful explorers in Canada.
About Windfall Geotek - Powered by Artificial Intelligence (AI) since 2005
Windfall is an Artificial Intelligence company that has been in business for over 15 years developing its proprietary CARDS analysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. It combines available public and private datasets including geophysical, drill hole and surface data. The algorithms designed and employed by Windfall are calculated to highlight areas of interest that have the potential to be geologically similar to other gold deposits and mineralization. The Company's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining and to continue the Land Mine detection application as a high priority. Windfall has played a part in numerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/.
On Behalf of the Board
/s/ "Jeff Swinoga"
President and CEO
For more information, please contact:
Shanda Kilborn
VP, Investor Relations
+1 (778) 819-2708
investors@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.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.
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.
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