Exploits Discovery (CSE: NFLD) has received drill permits for its Schooner Prospect. The company this morning announced that the permits have been secured for a planned 3,000 metre drill program at the property.
The diamond drill program slated for the Schooner Prospect at the firms My Peyton Gold Project has been outlined as a twelve hole program. Drilling is to target three discrete targets on the Schooner fault, which trends subparallel to New Found Gold’s Keatz Zone along the Appleton fault. A geophysical survey has also begun over the targeted areas to optimize drill locations.
Furthermore, the company has also expanded a previously announced airborne VTEM geophysical survey. The program is to now also cover the Mt Peyton and Dog Bay gold projects, with a second helicopter now flying lines on the Appleton and Dog Bay Line Fault zone corridors. The program is to include 6,530 line kilometres at spacing of 100 metres.
“The past six months at Exploits has been about prospecting, trenching, consolidating historical information, and prioritizing targets. The spring and Summer of 2021 are about drilling for Discovery. The schooner permit is the second of a minimum of 5 drill permits that we intend to have in place when the snow comes off in the spring of 2021.”
Michael Collins, CEO of Exploits
Finally, the company indicated that it is fully funded for its planned 12,000 metre drill campaigns slated for spring and summer, with three drill permit applications pending and two already permitted.
Exploits Discovery last traded at $0.46 on the CSE.
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