Exploits Discovery (CSE: NFLD) this morning revealed that it has received its fifth and final drill permit for its planned 2021 drill programs. The Newfoundland and Labrador government has awarded the company with a permit to drill its Jonathan’s Pond project.
The drill program slated to take place at Jonathan’s Pond consists of a total of twelve drill holes over a total of 3,000 metres. The program is set to focus on the JP vein, wherein outcrop grab samples last year assayed as high as 28.0 g/t gold, and the demagnetized fault zone, located 1.5 kilometres north of the JP Vein. The latter consists of a distinct two kilometre long fault zone that have returned float boulders with assay values as high as 700 g/t gold.
The drill program is expected to see a total of four holes drilled at the JP Vein target, while the remaining eight are to be drilled along the demagnetized fault zone. The drill program is said to be fully funded, and part of a larger 12,000 metre program being conducted across the firms numerous properties in the region over the course of the 2021 drill season.
“It is fantastic to now have all five of our drilling permits in place. In eight months the Company has defined high grade gold drill targets, permitted them and will be turning a drill in May. With a resurgent gold market and other companies producing excellent results in Newfoundland, Exploits is well positioned to build value for our shareholders through discovery in 2021.“
Michael Collins, CEO of Exploits Discovery
Exploits Discovery last traded at $0.64 on the CSE.
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