Exploits Discovery Corp (CSE: NFLD) this morning released a year end review for the progress the firm made in 2020, along with its outlook for exploration programs on its properties as we head into 2021. The company made significant headway on its projects in the past year, including assembling the largest land package in the province, at 2,110 square kilometres.
Fieldwork at the numerous properties held by Exploits commenced in June, and concluded in mid December. A number of objectives were accomplished by the firm within that time frame, including most notably:
- 4,161 soil samples collected across three separate programs on three properties
- Trenching, mapping and sampling at Jonathan’s Pond
- Sampling at Dog Bay project, while discovering two new visible gold showings
- Sampling at Katie and Great Bend projects
- Securing Goldspot Discovery as a consultant to refine current targets for drilling and new prospects
- Planning for large scale surveys to be conducted in 2021
Plenty of sampling and initial exploratory work was conducted by the firm throughout the second half of the year, with further assays pending for each site that exploration was conducted on this year. Soil sampling has identified numerous gold targets in bedrock that will be followed up on in 2021, while results from three separate programs are anticipated to be released at some point in January.
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Ground truthing has also been slated for Spring 2021, which will be conducted in conjunction with target generation work that was conducted with Goldspot Discovery. The proprietary AI that the firm uses to analyze data from geophysics, structural geology, and geochemistry from soil and rock samples has resulted in numerous targets being identified, and was notably used by neighbour New Found Gold (TSXV: NFG) which lead to the discovery of the Keats Zone.
Furthermore, results from trenching work conducted at the Jonathan’s Pond project are also expected to be received in early January 2021, with the program having already extended the strike length of the JP vein to 250 metres. Of the 350 metres of trenching conducted only 10% of the samples taken have received assays already, providing ample room for further discovery in the new year.
Aside from receiving assays from its numerous exploration programs in the first part of 2021, the company has many items planned for its large land holdings within the Exploits subzone of Newfoundland. The assay results are expected to provide the firm with high priority targets to follow up on in the new year, with further mapping, surveying, soil sampling, and trenching already said to be in the planning stages for the new year. Target generation meanwhile will be lead by ongoing integration with data from Goldspot’s advanced technology and known understanding of the Exploits Subzone.
Finally, the company has stated that it “anticipates opportunities to partner with other exploration companies in 2021 to increase velocity of discovery and upside for shareholders, while managing cost and risk.”
Exploits Discovery Corp last traded at $0.65 on the CSE.
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