Exploits Discovery (CSE: NFLD) has mobilized for its 2021 drill program. The company this morning announced that drilling is set to begin today at its Schooner North prospect at its Mt Peyton Project within the Exploits Subzone of Newfoundland.
The drill program being commenced this morning is set to test the Schooner Fault Zone, as identified by Goldspot Discoveries utilizing their AI technologies. The zone is a sub-parallel trending fault system, which is located 3.5 kilometres from the gold bearing Appleton Fault that hosts the Keats and Lotto discoveries made by New Found Gold.
In total, the program is expected to consist of twelve drill holes that in aggregate amount to 3,000 metres of drilling. Once completed, the drill will then move to the Quinlan Vein Prospect at the firms Dog Bay project.
“Getting a drill turning marks a significant milestone for the team at Exploits. The Schooner Prospect was selected as the first of our five drill targets due to ground magnetics and airborne VTEM geophysical anomalies highlighting a fault system analogous to New Found Gold’s growing Keats and Lotto deposits along the Appleton Fault. Drilling will allow us to develop our understanding of these structural systems which produce gold mineralization in this gold belt.”Michael Collins, CEO
Exploits Discovery last traded at $1.33 on the CSE.
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