Exploits Discovery: Newfoundland’s Largest Landholder
When gold investors seek opportunities, they very rarely think of Newfoundland as a gold exploration destination. On September 2, 2020, Vancouver-based Mariner Resources Corp. announced their acquisition of 100% ownership of private exploration company Exploits Gold Corp. and in the process becoming Newfoundland’s largest landowner.
Mariner also changed its name and trading symbol to Exploits Discovery Corp. (CSE: NFLD). Exploits has seven projects covering 1,760 km. sq. in Central Newfoundland’s Gander Gold District, in close proximity to the exciting 2019 discovery made by New Found Gold Corp (TSXV: NFG) at its Queensway property on the actively explored Appleton Fault.
Exploit’s flagship assets are fully permitted for geophysics, geochemistry, and mechanical trenching on high priority exploration targets:
- The Company’s Appleton Zone, which is part of its Dog Bay Project, lies on the Appleton Fault, has been showing widespread gold mineralization from soil samples up to 2.8 g/t, outcrops samples of 25 g/t, and float samples which contain up to 233 g/t gold over a 4 km strike length. An exploration team was recently mobilized to verify and expand upon the previous gold showings and to form the basis for a focused exploration program.
- The Jonathan’s Pond Project, located 25 km northeast of NFG’s Queensway project, has shown visible gold bearing quartz veins up to 3m in width and a strike length of 250m open in all directions. Outcrop samples have assayed up to 28.82 g/t gold. In a measure to extend the area’s surface gold mineralization, a trenching program was recently undertaken, with initial results finding mineralization along 350 metres of trenching.
The company’s projects lay within what it calls the Exploits Subzone, which was discovered prior to NFG’s Queensway discovery, and the Gander River Ultramafic Belt (GRUB) of the Dunnage Zone, which geologists believe hosts most of Newfoundland’s gold mineralization.
Exploits Discovery Corp. has a stellar management team and Board of Directors, composed of very seasoned mining industry professionals who have all worked on major projects and have collectively been part of many public companies. As per the Company’s press release of October 9, 2020, the Board was recently bolstered by the addition of William Sheriff and Larry Short, and Gary Lewis was appointed to the Advisory Board. Meanwhile Ian Herbranson (P.Geo.) was named the new VP of Exploration. These individuals are very well-known within the mining industry and public markets.
Mr. Lewis, a mining industry veteran, originally hails from Newfoundland and is intimately familiar with the Gander Gold District. He was instrumental in arranging the land acquisitions for Exploits, and had previously introduced the exploration potential of the Appleton Fault to New Found Gold.
Below are some comparable companies exploring in the Gander Gold District.
|New Found Gold (TSXV: NFG)||$628.44 M|
|Marathon Gold (TSX: MOZ)||$493.24 M|
|Exploits Discovery (CSE: NFLD)||$44.20 M|
|Labrador Gold (TSXV: LAB)||$43.32 M|
|Spearmint Resources (CSE: SPMT)||$9.28 M|
|Quadro Resources (TSXV: QRO)||$7.05 M|
The NFG discovery has created a mini gold rush within the district and Exploits Discovery Corp is uniquely positioned to benefit due to its land holdings in such close proximity to the Queensway Project. While a lot of work is yet to be done, previous work on their properties has indicated promising gold mineralization potential, and the company has the expertise to advance these projects.
The Company is well financed, having recently secured $3.5 million by way of a private placement. With 53.29 million shares outstanding and a modest market capitalization of $44 million, Exploits Discovery Corp appears to represent a compelling risk/reward, early-stage exploration opportunity in the emerging and exciting Newfoundland gold story.
FULL DISCLOSURE: Exploits Discovery Corp is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover Exploits Discovery Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.