Exploits Discovery (CSE: NFLD) has completed an initial reconnaissance program at the firms recently acquired Katie Prospect, a new portion of the firm Great Bend Property in Newfoundland. Numerous samples were collected from the program, with five returning highlight values of between 1.2 g/t and 2.7 g/t gold.
In total, twelve grab samples were collected from subcrop and outcrops on the property. In addition to the highlighted values, six samples returned high values of zinc and silver, with results including 7.24% to 24.0% zinc and 11.5 g/t to 66.3 g/t silver.
The sampling data, combined with initial structural analysis, has lead the company to believe that there may be orogenic-epizonal style mineralization at the prospect, which is where the Appleton fault truncates in the Huckster Lake volcanic rocks. This theory is further enhanced by nearby known mineralization from the New Found Gold Queensway project, which is just southwest of the Exploits claim border.
“The Katie Prospect is renowned in the Newfoundland prospecting community for being of high geological interest, and we pushed hard to get boots on the ground prior to snowfall. The results validate our expectations but more importantly, this field work provided us with a better understanding of why past companies focused mainly on VMS style mineralization in the area.”
Michael Collins, President & Chief Executive Officer of Exploits
Results from the more recent prospecting and soil sampling campaigns are still awaiting results from the lab, with results from work at Dog Bay, Jonathan’s Pond, and True Grit property currently pending.
Exploits Discovery last traded at $0.58 on the CSE.
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