Exploits Discovery (CSE: NFLD) this morning reported the results of its spatiotemporal geochemical hydrocarbon soil grid conducted on its True Grit property late last year. The results have identifies three distinct gold responses that have been previously missed by historic drilling conducted on the property.
The program consisted of a total of 1,041 samples being taken across the property at 25 metres intervals, along 100 metre line spacing. The program targeted structurally controlled epizonal orogenic gold mineralization. The program was conducted across historic shallow drilling, gold in till sampling, while also covering the Gander River Ultramafic Belt, or GRUB, line fault zone.
Three distinct areas of gold signatures were highlighted within the results, with distribution matching the firms current modeling of mineralization at the property, while adding untested targets in the eastern portion of the property. Furthermore, the results have determined that historic drill intercepts, including 0.60 g/t gold over 117 metres from surface, occurred on the fringes of the anomaly, meaning the main body was not tested.
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Little outcrop exposure exists on the property, with one quartz vein outcrop having been found on the property. Sampling conducted on the outcrop returned values of 16 g/t gold, with mineralization being similar to what is found at the firms Jonathan’s Pond project.
Two anomalies discovered in the northern portion of the property lie where little to no drilling has occurred historically. The gold in till anomaly that was previously drilled on the site meanwhile coincided with an area of null to low gold signatures, implying that the anomalies targeted may have been mobilized from their source.
“These results move the True Grit project up in our drill target ranking within our Exploits Subzone project. While we want to build our 3-D model of True Grit mineralization with the integration of the Airborne Magnetics and Electromagnetic data before applying for drill permits, these results support our preliminary model for drilling and making a discovery on the True Grit project.”
Michael Collins, President and CEO of Exploits Discovery
The company is now currently conducting a 2,830 line kilometre airborne VTEM geophysical survey on the property with 100 metre line spacing. Data will then be compared with data from the SGH survey to process and better understand the structural components of the property, to provide more clear targets for discovery.
Exploits Discovery last traded at $0.48 on the CSE.
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