FinancialBuzz.com News Commentary
New York, NY (3/5/2021) – Markets tumbled Thursday after U.S. Federal Reserve Chair Jerome Powell reiterated a previous narrative to keep credit flowing until Americans are back to work. Some see this as a direct rebuttal of investors who have openly doubted that the Fed can stick to that plan after the pandemic. According to a report by Reuters, with vaccines rolling out and the government fiscal taps open, “there is good reason to think we will make more progress soon” toward the Fed’s goals of maximum employment and 2% sustained inflation, Powell told a Wall Street Journal forum. Yet, a major factor to consider is the anticipated gold miners’ production rebound in 2021. Kitco reports that the top 20 gold miners are projected to lose about 5% of their total 2020 gold output primarily due to the pandemic and related restrictions. However, in 2021, gold production is likely to rebound. “Based upon mid-point outlook projections, production will be ~6% more than a revised,” post guidance for 2020. Exploits Discovery Corp. (CSE: NFLD) (OTC: RNRRF), IAMGOLD Corporation (NYSE: IAG), Gold Resource Corporation (NYSE: GORO), B2Gold Corp. (NYSE: BTG), Kinross Gold Corporation (NYSE: KGC)
In addition to the pandemic and its economic implications, various recent technological innovations have had an impact on gold demand as well. Certain financial services, through which gold can be purchased, have shared recent developments designed to make gold trading easier and more accessible to a wider demographic. For example, the British-based Glint Pay Services announced a new peer-to-peer payment service which allows users to send various amounts of gold directly to each other, all within the company’s app. “Glint’s P2P technology enables gold, trusted globally, to be used as money in electronic payments beyond the existing fiat money system; it frees us all from the whims of government-issued currencies,” said Glint CEO and founder Jason Cozens.
Exploits Discovery Corp. (CSE: NFLD) (OTCQB: RNRRF) announced earlier this week that, “the Company has submitted drill permit applications for 4,500 metres of drilling at the Little Joanna and Quinlan Vein prospects within the Dog Bay Gold Project, Newfoundland.
– Exploits has planned and submitted diamond drilling applications for 18 holes totaling a length of 4,500 metres across the Little Joanna Veins and Quinlan Veins prospects.
– 9 holes (2,250m) at the Little Joanna Veins, 9 holes (2,250m) at the Quinlan Veins prospects.
– The diamond drill applications are in addition to the applications submitted at the Schooner and Jonathan’s Pond prospects, totalling 10,500m over 33 holes across 4 prospects.
– Exploits drilling placement follows on the same targeting techniques used by New Found Gold Corp. in the discovery hole at the Keats Zone (19m of 94g/t Au) targeting secondary and tertiary displacement structures that are thought to be responsible for gold mobilization and concentration in the Exploits Subzone*.
*sampling on adjacent properties may not be representative of results from Exploits claims.
– Exploits inaugural drilling programs are to commence pending approval in Spring 2021.
Michael Collins, President and Chief Executive Officer of Exploits, commented: “The successful sampling campaign Exploits conducted in late 2020, coupled with the efforts of our inhouse team and partner GoldSpot Discoveries, has doubled our tier one drill targets to four across our projects in the Exploits Subzone. The Exploits team is excited to refine each high value target for drilling programs as we drive towards discovery in 2021.”
About 2021 Diamond Drilling
Exploits has identified 2 discrete targets, in addition to the 2 targets previously announced on February 2nd, within the Dog Bay Gold Project that are nearing drill ready status. These targets are the named the Little Joanna Veins and Quinlan Veins prospects. Drill permits have been submitted for each prospect totalling 18 holes for a combined length of 4,500 metres. 9 holes (2,250m) have been applied for at the Little Joanna Veins, targeting quartz veins with visible gold at surface that assayed up to 194 g/t Au. These veins are interpreted to be structurally controlled by a regional secondary, sub-parallel to the deep-seated Dog Bay Line fault zone, and an approximately 2 km long tertiary displacement fault, named the Little Joanna Fault. 9 holes (4,500m) were applied for at the Quinlan Vein prospect, targeting quartz veins with visible gold at surface, returning assays of up to 61.3 g/t Au and 189 g/t Ag. These veins are also interpreted to be structurally controlled by a regional secondary fault structure, stemming from the deep-seated Appleton Fault zone. Additional targets are located at the interpreted intersection of the aforementioned faults, testing possible structural dilations suitable for the deposition of gold. Both the Little Joanna Veins and Quinlan Veins targets are deemed analogous to New Found Gold’s Keats Zone due to the similarities in structural control and lithological host units.
While the permitting applications are being reviewed, Exploits plans to refine each target with follow up field work. Ground geophysics, outcrop mapping, and trenching are being planned to fine-tune each target to be drill ready once the permits have been approved.
The Little Joanna Veins and Quinlan Veins are located within a series of claims optioned from Eddie and Roland Quinlan, (the “Quinlan Option”), on August 20, 2020 where Exploits can earn a 100% interest by paying $220,000 cash and issuing a further 2.5 million common shares and $560,000 in either cash or common shares.
Quality Assurance – Quality Control (“QA/QC”)
All rock samples are collected by company personnel and bagged in the field with a sample tag for identification. The bags are sealed with tape and kept secure at a company facility until they are transported directly to the lab by Exploits staff.