Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) intersected several clusters of mineralized quartz veining at over 18 meters at an exploration hole at Bullseye property in Newfoundland.
The company said it started core drilling in an explorations update at Bullseye and Gazeebow South sites along the Appleton Fault Zone on Friday.
Ongoing down-hole televiewer surveying at Bullseye is already aiding in the design of follow-up holes targeting this structurally complex area that hosts multiple generations and orientations of mineralized veining.
The company will collect an additional 150 till samples from the west-central block of the Gazeebow South. It will use these to further refine and follow up on the elevated gold grain counts reported in late 2023.
Throughout the summer, the team will continue prospecting and localized mapping at the Dog Bay claims and Mt. Peyton property. The focus on these areas is proximal to previously identified anomalous gold rock and soil samples.
Detailed core-logging and thorough sampling of these vein-sets generated several encouraging gold assays, including:
- 4.08 g/t Au over 1.60 m core-length at a vertical depth of approximately 75 m below surface.
- 14.59 g/t Au over 1.00 m core-length at a vertical depth of approximately 186 m below surface.
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Fault zones are located in areas high in gold
The Appleton Fault Zone (AFZ) is adjacent to New Found Gold Corp. (NFG) (TSXV: NFG) (NYSE: NFGC) and Labrador Gold Corp. (LAB) (TSXV: LAB) (OTCQX: NKOSF) (FNRL 2N6).
The Bullseye claims, originally staked by Exploits in September 2022, are adjacent to high-grade gold targets near NFG and LAB. These claims are considered highly prospective by the company’s geologists and are overlaid by a 1,200 by 800 metre segment of the AFZ and its related splay structures. Additionally, the Bullseye claims are located approximately 200 km northeast of Calibre Mining‘s (TSX: CXB) (OTCQX: CXBMF) tier-one Valentine Mine Property.
At Gazeebow South, Exploits’ field technicians will collect till samples to follow up on elevated gold mineralization, potentially indicating the AFZ’s location and trend through the claim group. Previous surveys have included LiDAR and airborne MAG. They suggest the underlying bedrock has been structurally impacted by a complex series of breaks aligning with the AFZ.
The Gazeebow property, assembled between 2020 and February 2023, consists of several contiguous claim groups. Located about 20 km north of Gander in central Newfoundland, it is approximately 17 km northeast of NFG’s recent high-grade gold discoveries at Keats and Iceberg.
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