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Highlights
- Jonathan’s Pond drilling has commenced to test the large vein system with historic 700 g/t Au grab samples containing visible gold. GoldSpot Discoveries (TSXV: SPOT) and our geologic team are taking advantage of the new high-resolution geophysics, and existing geochemical data to pinpoint additional targets and areas of interest for the continuing drill program at Jonathan’s Pond.
- Multiple field crews have been mobilized and are engaged in prospecting and soil & rock sampling at the
Mount Peyton ,Dog Bay , and True Grit projects. The current soil sampling program will exceed 1800 samples.-
Schooner North drilling intersected numerous areas of interest with quartz carbonate veining and sulphide mineralization encountered within the fine grained siltstone. Following completion of first round drilling at Jonathan’s Pond, drilling is scheduled to move to Schooner South for follow up drilling.- Completed first phase drilling at Quinlan Veins has encountered sporadic quartz veins. A total of 2,235m was drilled across 13 holes with depths ranging from 49m to 310m.
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Figure 1: Drill set up at Jonathan’s Pond
About Jonathan’s Pond
Jonathan’s Pond is a 100% Exploits owned gold Project located along
Trenching and outcrop mapping efforts undertaken by Exploits in the fall of 2020 at the JP Vein helped move the Project along in the understanding of geology, structure, and gold mineralization. Outcrop grab and channel sampling has suggested that the high-grade gold mineralization is localized to late-stage quartz veining, associated with a third phase of structural deformation. Trenching highlighted the presence of lower grade gold mineralization in host rock that returned 0.44 g/t Au over 5 meters, including 1 meter at 0.80 g/t Au, in altered gabbro. This indicates the high-grade gold in quartz veins may be contained within a lower grade envelope in the host rock. SGH (Actlabs’ Spatiotemporal Geochemical Hydrocarbon) soil sampling has identified a highly prospective 300 m extension of the high grade gold in quartz zone that occurs in outcrop. This 300m probable extension is covered by a thin layer of till and will be tested during the current program.
In addition, geophysical analysis of historic, high resolution airborne magnetic data culminated in the identification of a 2-kilometre-long demagnetization zone. This zone bears remarkable similarity to what is observed at Kirkland Lake’s
Quality Assurance – Quality Control (“QA/QC”)
All HQ core is sampled, cut by core saw, and split by company personnel and put into bags with unique sample tags for identification. The bags are sealed with a security tag and are then transported directly to the lab by Exploits staff.
All soil samples are collected by company personnel and bagged in the field with a sample tag for identification. The bags are sealed with zip ties and kept secure at a company facility until they are transported directly via a commercial shipping company. Samples are shipped in rice bags with security tags which are verified upon delivery to the lab.
All rock samples are collected by company personnel and bagged in the field with a sample tag for identification. The bags are sealed with tape and kept secure at a company facility until they are transported directly to the lab by Exploits staff.
All rock samples are analyzed at Eastern Analytical of
National Instrument 43-101 disclosure
About
With five permitted drill targets, ample cash reserves, and a drill working and committed through the summer 2021, Exploits is positioned for discovery.
Exploits believes that the Exploits Subzone Gold Belt, which runs 200 km from
The team at Exploits, with significant local experience and knowledge, have studied the entirety of the Exploits Subzone and surrounding regions, and have picked individual land packages for staking or joint ventures, where there are opportunities for world class discoveries and mine development. Exploits intends to leverage its local team and the larger shift in geologic understanding and become one of the most extensive explorers in the Exploits Subzone.
ON BEHALF OF THE BOARD
/s/ "
Interim President and CEO
For further information, please contact:
(778) 819-2708
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
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Copyright (c) 2021 TheNewswire - All rights reserved., source