The Abitibi Greenstone Belt that transects Ontario and Quebec has a storied history.
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Over the past century plus, miners have discovered deposit after deposit of high-grade gold, resulting in historical production for the region of more than 170 million ounces.
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Imagine if you had the opportunity to have a financial stake in key projects in the Abitibi at its very inception, before most of the major discoveries had been made.
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Well, that’s exactly the opportunity that seems to be developing in Newfoundland, where a recent gold discovery has caused the gold explorers to look at this area from a whole new angle.
The initial discovery by New Found Gold has allowed that company to secure a C$70 million working capital position…and it has drawn a host of companies to stake ground in the region.
But if you feel like you’ve missed out on the initial rush in Newfoundland, not to worry.
Not only is this a region with similar scale to the Abitibi, but the style of gold mineralization explorers are chasing here is among the most profitable in the world.
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And, amidst the scramble to stake land in this area of Newfoundland, Exploits Discovery Corp. (NFLD.V; RNRRF.OTC) has managed to amass one its largest and highest quality property positions.
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Better still, the company has leaned on the artificial intelligence (AI) capabilities of Goldspot Discoveries, who played a big part in New Found Gold’s discovery story, to vector in on key targets within that land package, and the drills are about to start turning.
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Discovery Sparks Newfoundland Land Grab
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The recent gold rush in Newfoundland started in 2019, when New Found Gold released some of the best assays of this cycle in gold.
The Keats target on the company’s Queensway project produced hole grading an astonishing 92.9 g/t Au over 19.0 meters within 22.3 g/t Au over 41.3 meters.
Keats was recently expanded with another high-grade interval of 24.0 g/t Au over 46.0 meters.
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| Exploits Discovery’s properties in Newfoundland surround New Found Gold’s flagship Queensway property |
These results have had gold companies swarming the area to lock up land in this region of Newfoundland.
Exploits Discovery had the good fortune to build one of the area’s largest land positions.
Its holdings along the Exploits Subzone put it in great shape to benefit both from its own exploration effort there and from any additional discoveries made by the myriad other players working in the district.
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All by themselves, intersections as outstanding as the Keats hole would cause a land grab anywhere they were found.
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But here’s the kicker: The epizonal style of mineralization that hosts this high-grade gold is nearly identical to the Swan and Eagle zones on Kirkland Lake Gold’s Fosterville project in Australia.
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Why is that important?
Well, the Swan zone that Kirkland Lake discovered while seeking to expand Fosterville tapped in to one of the highest-grade gold deposits in recent memory.
The Swan discovery alone has made Fosterville one of the most productive and profitable gold mines in the world.
And, just look at these two photos of gold-hosting core, one from New Found’s Keats target and one from Fosterville’s Eagle target.
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| Core samples from the Keats discovery in Newfoundland and the Eagle zone at Fosterville in Australia are virtually identical. |
These two pieces of core come from projects that are on near-polar-opposite ends of the globe, yet the geologic forces that shaped them are virtually the same.
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The 2,111 square kilometers of ground Exploits Discovery has staked within the Exploits Subzone gives it a great chance to make an epizonal gold discovery of its own.
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The overarching structural feature that runs through Newfoundland actually begins in the southeast United States and runs along the east coast of North America, through Newfoundland and up into Finland.
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This structure hosts large gold deposits, include the Haile project in South Carolina (2.8 million measured and indicated ounces) and the Dalradian project in Northern Ireland (3 million ounces measured and indicated and 3.1 million ounces inferred).
Add in Marathon Gold’s ability to outline a large, open-pittable resource in this area of Newfoundland and you have a region primed to deliver more discoveries.
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A Commanding Land Package
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The map below, with Exploits’ properties highlighted in red, underscores just how well-positioned this company is in the region.
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It also underscores just how many players there are in this area right now.
New Found Gold alone has committed to drilling more than 200,000 meters on its projects in the area.
With many other companies following suit, Exploits could well benefit from a “rising tide lifts all boats” scenario, where any additional discovery made causes a stampede by investors into this area play, driving prices of all companies there significantly higher.
In just six months of active exploration Exploits has already defined five high-priority drill targets, with three of the targets hosting high-grade visible gold with grades of up to 194 g/t gold. With over 125 miles of target structures, Exploits will be back on the ground defining more targets as the snow comes off in April.
Exploits is fully funded for a 8,000-10,000 meters of drilling this spring and summer, with a drill permit in place for its True Grit target and permits pending for its Schooner and Jonathan’s Pond targets. The company plans to drill its Little Joanna and Quinlan Veins targets later this year.
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As an investor, your opportunity here comes down to this: Exploits Discovery’s massive land position around New Found’s Keats discovery gives it an excellent chance to deliver outsized gains in the near future.
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• All that drilling by other players in the region, including New Found, could easily hit another discovery that makes that early-stage Abitibi analogy more tangible…
• The good early-stage work Exploits has done defining targets on its projects, and the company’s plans to begin drilling soon, mean a discovery of its own could happen at any time…
• Gold could ride the latest wave of stimulus to new heights, causing heavy rotation by institutional and general investors into this tiny sector.
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The scale of the potential district is compelling. The bonanza grades explorers are chasing here are world class. And the similarities to Fosterville are tantalizing.
If you want to make a ground-floor bet on an emerging gold district, Exploits Discovery fills that bill nicely.
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