Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) discovered high grade gold during its recent drilling campaign at its Bullseye property on the Appleton Fault Zone in Newfoundland.
On Wednesday, the company reported three drill holes with assay values of up to 254.08 gold grams per ton (g/t) over 0.80 meters. Exploits is calling this mineralized zone the “Saddle Zone.”
In the Saddle Zone, the company intersected several clusters of quartz veining over 18 m of core in hole #BE-23-028. Visible gold was observed in drill hole BE-24-015 within a network of quartz veins, with the best reported assay value being 67.55 g/t Au over 3.30 m.
Highlights Include:
- BE-24-015:
- Intersected 67.55 g/t Au over 3.30 m core-length from a swarm of quartz veins. Also, multiple flecks of visible gold were observed, located at a vertical depth of approximately 85 m below surface.
- Including 254.08 g/t Au contribution from a 0.80 m sample.
- Intersected 2.89 g/t Au over 3.55 m core-length, located at a vertical depth of approximately 80 m below surface.
- Including 15.05 g/t Au contribution from a 0.45 m sample.
- Intersected 67.55 g/t Au over 3.30 m core-length from a swarm of quartz veins. Also, multiple flecks of visible gold were observed, located at a vertical depth of approximately 85 m below surface.
- BE-23-014:
- Intersected 53.37 g/t Au over 0.60 m core-length, located at a vertical depth of approximately 141 m below surface.
- Intersected 32.71 g/t Au over 0.40 m core-length, located at a vertical depth of approximately 164 m below surface.
The Saddle Zone appears to remain open in all directions.
Plan map of Bullseye property with past released drill-collars in white and Phase 3 drill-collars in red. Image via Exploits Discovery.
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Bullseye claim is next to New Found Gold’s Queensway project
Exploits staked the Bullseye claims in September 2022. The project is to the northeast of Calibre Mining Corp‘s (TSX: CXB) (OTCQX: CXBMF) Valentine Mine Project and it directly shares a boundary with New Found Gold Corp.’s (TSXV: NFG) (NYSE: NFGC) Queensway project. The company’s geologists consider these claims to be highly prospective because they directly overlay a 1,200 by 800 m segment of the AFZ and its related splay structures.
“Our team first discovered the mineralization of this northeast interpreted splay branching off the Appleton Fault when our drill program last year reported gold intercepts in holes 28 and 30 that appeared to line up,” said Jeff Swinoga, president and CEO.
“After completing a deep dive analysis into all available geological and technical information, ranking numerous opportunities and using televiewer to assist in drill design orientation, we announced this focused drill program, and we are very encouraged by its early results”
The project comprises 10 kilometers of claims on the Appleton Fault Zone. It includes access to a skilled local team in historic Gander, Newfoundland, and available infrastructure, along with strong financial backing and major shareholders like Eric Sprott and New Found Gold.
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