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Exploits Announces Remaining Drilling Results from Phase 4 Drilling at Bullseye

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Exploits Announces Remaining Drilling Results from Phase 4 Drilling at Bullseye

 

 

 

 

 

Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634)  is pleased to report its assay results from the remaining diamond drill holes completed this winter on its Bullseye property (see Table 1 below). The holes drilled in 2025 were designed to both follow up and extend mineralization at the Saddle Zone, as well as test for additional gold mineralization and prospective structures related to the western flank of the Appleton Fault Zone.

 

Jeff Swinoga, President and CEO, comments, “We are encouraged by the latest drill results, which confirm the continuation of the gold mineralization at the Saddle Zone, extending northward on our Bullseye property. These results mark the successful completion of our fourth drill campaign at Bullseye, which also include a standout intercept of 25.36 g/t gold over 1.60 metres, further extending the Horseshoe Zone at depth.

 

“With 20,000 metres of drilling completed to date at Bullseye, we’ve identified two high-grade gold zones: Horseshoe and Saddle. The recently announced resource by New Found Gold Corp. – spanning a 5 km stretch immediately south of our Bullseye property – further highlights the significant potential of our 10+ km of contiguous claims along the highly prospective Appleton Fault Zone. Looking ahead, the Company is well-positioned for continued advancement, with over $4 million in cash and no debt.”

 

Figure 1: Plan map of drilling at the Bullseye property. Drill results from this release are shown in yellow text.

Figure 2: Simplified cross section (looking west) of Phase 4 drilling at the Bullseye property. This campaign tested each of the three areas (West, Saddle, Horseshoe, separated by dashed-lines) suggested by Company’s 2024 intensive rate-rank study. The plotted large discs indicate assay values (Au g/t) from current release; the smaller discs from past releases.

Table 1: Select drill core assays.

 

2025 Bullseye Drilling – Selected Assays
Hole ID From (m) To (m) Length (m) Vertical
Depth (m)
Analysis Type Au Assay (ppb)* Au Assay (g/t)
BE-25-001 44.30 45.00 0.70 ~34m FA 470.00 0.47
BE-25-002 287.25 287.85 0.60 ~205m FA 466.00 0.47
AND 289.50 290.25 0.75 ~207m FA 592.00 0.59
BE-25-003 18.20 19.20 1.00 ~20m FA 2,015.00 2.02
AND 286.30 287.00 0.70 ~253m FA 950.00 0.95
BE-25-004 145.45 146.00 0.55 ~124m FA 4,645.00 4.65
AND 153.25 154.35 1.10 ~130m FA 512.00 0.51
AND 159.75 160.65 0.90 ~137m FA 2,772.00 2.77
AND 161.35 162.45 1.10 ~139m FA 1,301.00 1.30
BE-25-005 281.00 282.25 1.25 ~198m FA 573.00 0.57
*Assays reported direct from lab certificate. Screen-Met samples are ‘Weighted Averaged ppb’ as calculated from lab
**All intersections are core intervals and do not represent true thickness

 

 

Table 2: Drill collar data.

 

Bullseye – Collar Information for Reported Drill Holes
Hole ID Easting Northing Elevation (m) Azimuth Dip Length (m)
BE-25-001 659683 5431044 37 280 -45 301
BE-25-002 659858 5430811 43 300 -45 302
BE-25-003 659686 5430796 44 320 -65 350
BE-25-004 659765 5430625 46 305 -60 302
BE-25-005 659786 5430612 51 270 -50 299
Coordinates Reported in NAD-83

 

Bullseye Gold Property

 

The Bullseye claims were staked by Exploits in September 2022 and are contiguous to NFG’s Queensway and Kingsway projects. The Company considers these to be highly prospective because geological interpretation shows they directly overlay a 1,200 by 800 metres segment of the AFZ and its related splay structures.

 

Quality Assurance – Quality Control

 

All prospective NQ core is logged and delineated for sampling by an Exploits’ professional geologist. The core is subsequently halved by a diamond-bladed core saw by the Company’s technicians, with one half being placed in a bag with a unique sample identification. The remaining half core is retained within the Company’s secure storage facility in Gander, NL. Sample bags are sealed and then shipped directly to Eastern Analytical Ltd. Certified standards and blanks are inserted at defined intervals following the Company’s QA/QC documented procedures, representing approximately 5% of all samples sent for assaying. All core samples are currently analyzed at Eastern Analytical Ltd. of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Exploits. Samples are analyzed using fire assay (30g) with AA finish (Au-FAA 30 ppb process) and/or a four-acid digestion followed by multi-element ICP-OES analysis. All samples with visible gold or assaying above 10.0 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Metallic screen assays are reported as ‘Weighted Averaged ppb’ directly calculated from the lab.

 

National Instrument 43-101 Disclosure

 

Ken Tylee, P.Geo., VP of Exploration with Exploits, is a qualified person within the Provinces of Ontario and Newfoundland and Labrador as defined by NI 43-101 standards. Mr. Tylee has reviewed and approved the technical information presented herein.

 

About Exploits Discovery Corp.

 

Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. Exploits is utilizing its experienced, talented team and geologic understanding with the vision to become one of the most successful explorers in Canada.

 

Posted April 17, 2025

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