Exploits Discovery Corp (OTCMKTS: NFLDF) has released assay results at the Duder Lake Prospect from a prospect sampling campaign in late 2020 and discussed upside potential on the targets at its 100% owned Titan Prospect hosting its highest grade diamond drill holes in the Dog Bay property.
Exploits Discovery reports assay results of Duder Lake Prospect
The Duder Lake Prospect gold mineralization is located approximately 500 meters from the Appleton Fault, representing an additional target on the 20 KM Appleton Fault strike lying with Dog Bay Gold Project. In addition, the company has identified a large-scale trending fault northeast-southwest stretching from Appleton Fault through Dog Bay Fault, which is 500 meters south of the Titan Prospect’s historic WP-01 drill hole.
CEO William Sheriff said, “The results from the Duder Lake Prospect continue to demonstrate the scale of mineralization along the 30 kilometres of Appleton Fault situated on Exploits’ Dog Bay Gold Project. We see potential for both focused high grade mineralization, such as the Quinlan Veins, as well as lower grade peripheral systems along this structural corridor. Our technical team at Exploits also continues to identify value in historically explored targets within the company’s projects, such as at the Titan Prospect, 5km to the east.”
Eric Sprott Increases investment in Exploits Discovery
The company has announced that Eric Sprott has increased investment in the company by $6.8 million. 2176423 Ontario Ltd, beneficially owned by Sprott, acquired 6.783 million Exploit Discovery common shares at $1 per share for a total consideration of around $6.8 million. The beneficially acquired the shares through a private agreement at 115% less the market price of the shares. With the purchase, Sprott now controls and owns 21.45 million shares and around 14.67 warrants which represent around 21.3% of Exploit Discovery’s outstanding common shares.