Exploits Discovery drills 38.21 g/t gold over 2.8 metres at Bullseye, Newfoundland
Exploits Discovery Corp. [NFLD-CSE; NFLD-OTCQX; 634-FSE] reported assay results from four recent diamond drill holes at the newly discovered Horseshoe gold zone on its 100%-owned Bullseye property along the Appleton fault zone (AFZ), Newfoundland. Of note, 55 grains of visible gold were observed within a network of quartz veins in drill hole BE-23-019, located approximately 450 metres north of New Found Gold’s recently reported high-grade intercepts at Everest in central Newfoundland.
Horseshoe gold zone highlights: BE-23-019 intersected 38.21 g/t gold over 2.80 metres core-length, located at a vertical depth of approximately 145 metres below surface, where 55 grains of visible gold were noted within a network of quartz veins, including 118.92 g/t gold contribution from a 0.85-metre sample.
BE-23-015 intersected 4.65 g/t gold over 2.00 metres core-length, located at a vertical depth of approximately 166 m below surface, including 8.90 g/t gold contribution from a 0.80-metre sample.
Horseshoe Gold Zone remains open in all directions. Diamond drilling totaling 11,292 m has been safely and cost-effectively completed over the 30-hole first phase evaluation at Bullseye.
Assay results from 18 of the 30 drill holes have been received and publicly reported to date. The results from the 12 remaining drill holes are pending.
Jeff Swinoga, president and CEO, commented: “We are thrilled to announce our first gold discovery called Horseshoe on our Bullseye property. Our first phase of drilling so far has intercepted visible gold in a half-dozen drill holes and generated several high-grade intercepts up to 118.92 g/t gold. Consistent with the high-grade intercepts that our peers are reporting just south of Bullseye, our geologists are seeing mineralization within a complex network of multi-stage quartz veins. I am very proud of our local team’s accomplishments during the first phase of our drilling campaign.”
Visible gold has been noted within 8 drill holes contributing to the locally high-grade intercepts. Several wide intervals of gold mineralization, in the 1.00-3.00 g/t range, are linked to quartz veining with elevated sulphide content.
The Bullseye claims were staked by Exploits in September 2022, and are contiguous to the active targets currently being drilled by both New Found Gold and Labrador Gold. The claims are considered by the company’s geologists to be highly prospective because they directly overlay a 1,200 by 400-metre segment of the Appleton Fault and its related splay structures. Over a dozen exploration drill rigs have been employed by the three companies operating within this structural-stratigraphic setting over the past two years.