🇨🇦 Windfall Geotek indentifies new gold targets on Exploits’ southern properties using AI

July 5, 2023
313

Press release from Exploits Discovery

Windfall Geotek Announces Upcoming In-Depth Review and Analysis of Last 15 Years of Strategic Assets and Projects – InsidexplorationExploits Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) (“Exploits” or the “Company”) is pleased to announce at least 12 gold targets have been identified on its southern properties situated approximately 90 kilometers south of Gander. These targets were generated by Windfall Geotek’s use of Artificial Intelligence (AI) and their compilation of available historic data and proprietary machine-learned filtering technologies.

Highlights:

  • At least 12 separate gold targets identified through Windfall’s AI processing.
  • All available current and historical data, including 4,942 gold assay results, were utilized for the study.
  • The project area is in South-Central Newfoundland and covers 1,208.75 km2.
  • Only a limited amount of exploration over the past 40 years has been conducted in this area, making it an ideal candidate for Windfall’s industry-leading appraisal system.
  • Option and joint venture opportunities are available on these properties.

Jeff Swinoga, President and CEO, comments, “As we advance our new Horseshoe gold discovery and target development further to the north at our Gazeebow claims, we are pleased that this new technology was able to assist us with identifying numerous gold targets within our relatively unexplored southern claims. We were very impressed with Windfall’s predictive AI technology and its ability to highlight the potential for significant upside for new discoveries beyond the scope of known gold mineralization on these properties.”

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Figure 1: Map showing the distribution of AI Gold Targets on Exploits Discovery’s southern claims.

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Geological Context:

The Great Bend, Middle Ridge, and True Grit project areas (Figure 1) located in the Gander River Ultra Mafic Belt (GRUB) regional structure is thought to be very important in the mobilization and concentration of gold mineralization in the province of Newfoundland, Canada.

The Great Bend property is situated within the Dunnage Zone and encompasses (from west to east), the Newfoundland Geological Survey mapped Coy Pond Complex (CPC), Baie d’Espoir Group (BDG), and the Davidsville Group. Lithological units are diverse across the property and consist of Cambrian to Ordovician ophiolitic ultramafics (CPC), Ordovician felsic to intermediate island-arc volcanics and siliciclastic sediments (BDG), as well as Davidsville Group Ordovician marine siliciclastic sediments. The southwest property margin contains the northeast edge of the Early Ordovician Partridgeberry Hills granite which truncates the ophiolite and siliciclastic packages.

The Middle Ridge property straddles a significant regional structure of the Dunnage Zone called the Gander River Ultra Mafic Belt, (GRUB), a regional scale trans-compressional thrust fault marked by a discontinuous belt of ophiolitic rock that forms the south easternmost boundary of the Exploits Subzone. The GRUB Line is believed to be a potential conduit for deep seated fluid flow and a pathway for the transportation of gold bearing fluids. This structure is spatially associated with significant gold deposition across the belt focused in secondary and tertiary structural splays from the GRUB Line, which is hosted in the Silurian siliciclastic sediments of the Exploits Subzone.

The True Grit property lays within the Exploits Sub Zone which is underlain by siliciclastic rocks of the St. Joseph’s Cove Group. The St. Joseph’s Cove Formation is comprised of siltstone, pelite, sandstone, and conglomerate with minor quartz sericite schists thought to represent altered felsic tuffs. Historical till surveys resulted in numerous high gold grain counts (Pickett, 1990) which led to the discovery by Teck Resources of the True Grit mineralized zones.

Table 1: AI defined gold targets.

Nr Target ID X (Center)
Nad83
UTM21
Y (Center)
Nad83
UTM21
Area
(sq km)
NTS Sheet Lithology (NFLD)
1 AI_Exploit_GB_MR_Au_01 598912 5362870 1.129 002D05 Plutonic ultramafic /
Plutonic mafic (Coy Pond Complex)
2 AI_Exploit_GB_MR_Au_02 598246 5362260 0.114 002D05 Plutonic ultramafic /
Plutonic mafic (Coy Pond Complex)
3 AI_Exploit_GB_MR_Au_03 598121 5361870 0.132 002D05 Plutonic ultramafic /
Plutonic mafic (Coy Pond Complex)
4 AI_Exploit_GB_MR_Au_04 598133 5360910 0.434 002D05 Plutonic mafic (Coy Pond Complex)
5 AI_Exploit_GB_MR_Au_05 599620 5359430 0.473 002D05 Plutonic felsic
(Partridgeberry Hills
Granite) / Plutonic mafic
(Coy Pond Complex)
6 AI_Exploit_GB_MR_Au_06 602085 5359150 0.145 002D05 Volcanic mafic marine (Coy Pond Complex)
7 AI_Exploit_GB_MR_Au_07 601318 5365620 0.215 002D05 Plutonic ultramafic (Coy
Pond Complex)
8 AI_Exploit_GB_MR_Au_08 606342 5361360 0.367 002D05 Siliciclastic marine (Baie
d’Espoir Group)
9 AI_Exploit_GB_MR_Au_09 608805 5368860 0.383 002D05 Siliciclastic marine (Baie
d’Espoir Group)
10 AI_Exploit_GB_MR_Au_10 609007 5367950 0.415 002D05 Siliciclastic marine (Baie
d’Espoir Group)
11 AI_Exploit_GB_MR_Au_11 608224 5367000 0.093 002D05 Siliciclastic marine (Baie
d’Espoir Group)
12 AI_Exploit_GB_MR_Au_12 598864 5364710 0.048 002D05 Plutonic ultramafic /
Plutonic mafic (Coy Pond Complex)

 

National Instrument 43-101 Disclosure

All scientific and technical data contained in this press release was reviewed by Grigor Heba, Ph.D., P.Geo., Principal Geologist at Windfall Geotek and a Qualified Person as defined by National Instrument 43-101.

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. The Company is focused on discovering high-grade structurally hosted epizonal gold similar to New Found Gold’s success along the Appleton Fault zone and parallel structures within the Exploits Subzone.

Exploits is utilizing its experienced, talented local team and geologic understanding with the vision to become one of the most successful explorers in Canada.

About Windfall Geotek – Powered by Artificial Intelligence (AI) since 2005

Windfall is an Artificial Intelligence company that has been in business for over 15 years developing its proprietary CARDS analysis (AI) and data mining techniques. Windfall Geotek can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. It combines available public and private datasets including geophysical, drill hole and surface data. The algorithms designed and employed by Windfall are calculated to highlight areas of interest that have the potential to be geologically similar to other gold deposits and mineralization. The Company’s objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining and to continue the Land Mine detection application as a high priority. Windfall has played a part in numerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/.

On Behalf of the Board

/s/ “Jeff Swinoga”
President and CEO

For more information, please contact:

Shanda Kilborn
VP, Investor Relations
+1 (778) 819-2708
[email protected]
https://exploitsdiscovery.com

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Acknowledgments

Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.


Originally published on 28 June.