Exploits Discovery Corp. (CSE: NFLD | OTCQX: NFLDF) has commenced drilling at its Bullseye gold property in Central Newfoundland. The company has contracted a diamond drill rig to conduct an initial 6,000m drill programme consisting of approximately 15 drill holes.
Exploits has stated that it is excited to commence drilling at this highly prospective gold target that borders New Found Gold Corp.’s recent Lotto North and Lotto gold discoveries along the Appleton Fault Corridor.
Jeff Swinoga, president and CEO commented, “We are thrilled to kick off our drill programme at Bullseye and we congratulate our exploration team for successful execution of our aggressive plan since staking this claim. We believe Bullseye is our most exciting gold target; the recent geophysical survey clearly shows the Appleton Fault extending right through the centre of Bullseye.”
The initial 6,000m drill programme at the Bullseye property consists of approximately 15 drill holes, averaging 400m in depth. The company has said the drilling will be a results-driven programme focusing on the Appleton structure and related splay structures trending in both northwest and northeast directions.
Recent ground VLF/MAG survey conducted by Exploits also indicates that the Appleton Fault Corridor transects the Bullseye property over a strike length of approximately 1.2km.
About the Bullseye Property
On 27 September 2022, Exploits acquired a 100% interest in 11 mineral claims (2.8 km²) through the province’s map-staking process. The Bullseye claims are located approximately 3km north of the Town of Appleton and are easily accessible via existing forestry roads and trail networks.
On 07 December 2022, the company announced that it had received the exploration permit, from the Province of Newfoundland and Labrador, that pertains to responsibly conducting exploration activities, including drilling, within the new Bullseye claims. The central, ‘h-shaped’ Bullseye property is directly contiguous to New Found Gold Corp. and Labrador Gold Corp. properties where over a dozen drill rigs have been recently operating.
In December 2022, Simcoe Geoscience Ltd. conducted a ground geophysics programme at Bullseye. Their VLF data and Magnetic survey results indicated that the Appleton Fault Corridor extends onto the Bullseye property and the subsequent interpretation identified related splay structures adjacent to the Appleton Corridor.
To find out more, please visit www.exploitsdiscovery.com
