Exploits Commences Optical Televiewer Downhole Survey at Bullseye Property

May 08, 2024 8:33 AM EDT | Source: Exploits Discovery Corp.

Toronto, Ontario--(Newsfile Corp. - May 8, 2024) - Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) ("Exploits" or the "Company") is pleased to announce that it has engaged DGI Geoscience Inc. ("DGI") to complete an optical televiewer downhole survey on approximately a dozen previously drilled holes at the Bullseye exploration property in Central Newfoundland. The purpose is to further refine the 3D orientation of the Company's new drill targets at Bullseye for the 2024 phase II drill program. The Company plans to release further details of the upcoming drill program upon receipt of interpretation of the televiewer survey.

Jeff Swinoga, President and Chief Executive Officer, commented, "The results of DGI's optical televiewer downhole survey will assist orientation of our future drilling programs at Bullseye. Our team has prioritized numerous drilling targets, and this survey should provide more directional accuracy of the local gold zones such as our 2023 Horseshoe gold discovery."

Chris Drielsma, President and Chief Executive Officer of DGI, commented, "DGI's experienced geoscientists will work closely with the Exploits team to provide critical orientation information on potential structural controls. Televiewers provide digital oriented core, allowing for geological features to be visualized in-situ and their true orientations determined. Results are available in near real time and are a cost effective and technically superior to traditional oriented core."

Televiewer Overview

Televiewers produce oriented images downhole, allowing measurement of both planar and linear structural features in situ. Orientation is accurate and consistent, and televiewer can be used in any hole, including core, non-core, historic holes, wells, utility lines, etc. Data can be visualized as 3D "virtual core" or as 2D "unwrapped core," and structures can be measured very quickly on a computer. Data is catalogued automatically, ready to import into 3D modelling programs. Common features analyzed include veins, contacts, bedding/foliation, fractures/joints, faults, fold limbs and hinges.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6393/208363_ed9dce859434eb85_002.jpg

Figure 1: Property-scale map displaying locations of Exploits 2023-2024 drill holes - many of which will be visited and surveyed by the DGI technicians over the next few weeks.

To view an enhanced version of this graphic, please visit:

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 local team and geologic understanding with the vision to become one of the most successful explorers in Canada.

On Behalf of the Board

/s/ "Jeff Swinoga"
President and CEO

For more information, please contact:

Shanda Kilborn
VP, Corporate Development & Investor Relations
+1 (778) 819-2708

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.sedarplus.ca. 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.


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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208363