Exploits Discovery Corp (CSE: NFLD) has expanded its landholdings within Newfoundland once again. The company this morning announced that it has secured the title to the Katie Project, which lies within the company’s Great Bend project within the Exploits subzone gold belt.
The Katie property, which was acquired via staking, consists of twenty six square kilometres of land that is surrounded by the Great Bend project. Now consolidated, the property is said to contain significant gold and volcanogenic massive sulfide, or VMS, targets within the Huxter Pond Volcanic Belt.
Notably, both the Dog Bay Line and the Appleton Fault terminate on the property, with this structural termination and discontinuity providing exploration targets that have not been previously explored. The property contains numerous zones, including Mystery Lake, MacDonald, and Bruce Pond. Mystery Lake has previously yielded grab samples with mineralization as high as 16.7 g/t gold, while the MacDonald and Bruce Pond zones have seen drilling yield 2.52 and 1.85 g/t gold over 0.5 metres respectively.
Other minerals are also present within the project, with the Black Bart Zone having prior channel samples yield values of 10.7% zinc, 0.38% lead, 0.196% copper, 33.4 ppm silver and 1.13 ppm gold over 1.25 metres among other results.
“We are pleased to have been able to secure the Katie Project in a competitive staking environment. The Katie Project holds some great gold targets but also is a critical piece in understanding mineralizing systems in the Great Bend Project and adds more strength to our extensive claim package in the Exploits Subzone.”
Michael Collins, CEO & President of Exploits Discovery
Furthermore, the company has already had geologists and prospectors spend two days scouring the property since the acquisition was finalized, whom conducted an initial site visit. The team reviewed the property and took initial samples of mineral showings, with several historic trenches said to be located and sampled along with newly discovered showings. Results are expected to be returned from the lab in mid-December.
Exploits Discovery Corp last traded at $0.70 on the CSE.
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