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GoldSpot Discoveries Identifies New Structure Parallel to New Found Gold's Discovery for Exploits Discovery
Toronto, Ontario--(Newsfile Corp. - January 14, 2021) -  GoldSpot Discoveries Corp. (TSXV...
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[{"type":"text","content":"GoldSpot Discoveries Identifies New Structure Parallel to New Found Gold's Discovery for Exploits DiscoveryToronto, Ontario--(Newsfile Corp. - January 14, 2021) -  GoldSpot Discoveries Corp. (TSXV: SPOT) (\"GoldSpot\" or the \"Company\") and Exploits Discovery Corp (CSE: NFLD) (\"Exploits\") are pleased to announce they have identified secondary faults parallel to the mineralized Appleton fault which hosts New Found Gold Corp's (\"NFGC\") discovery hole, on its Mt. Peyton Project. GoldSpot is a shareholder of Exploits.GoldSpot and Exploits are proud to announce, that through GoldSpot's historical compilation, re-interpretation, and data analysis techniques, it has identified a secondary parallel structure approximately 3.5 Kilometers west of NFGC's Keats discovery zone on its Appleton Fault. This newly identified northeast-southwest trending structure, termed the Schooner Fault, lies coincident with Torq Resources 2017 till program in which they reported anomalous gold till results in close proximity to the interpreted zone. The Schooner Fault is recommended by GoldSpot for additional follow up work, including geophysics, prospecting and trenching and can be seen in Figure 1.Figure 1. Exploits Discovery Corps. Mt. Peyton Project with GoldSpot's prospective Schooner FaultTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/5844/71988_4c40e21094b0891f_001full.jpgDenis Laviolette, executive chairman and president of GoldSpot, commented: \"GoldSpot continues to believe that Newfoundland remains a highly prospective area for exploration. The Schooner Fault is potentially in the same geological environment, has the same trend, and is near GoldSpot's and New Found Gold's very prolific Appleton and JPB Fault zones. We believe Exploits stands an excellent chance to make a ground breaking discovery along the Schooner fault as well as on other project areas in its claim portfolio in the region. Michael Collins, President and Chief Executive Officer of Exploits, commented: \"Exploits is very pleased to present these Goldspot generated targets on the Schooner Fault. We have a very large land package with numerous existing high value gold targets. The Exploits team is working to build a comprehensive data base with prospecting and geophysical data acquisition. Goldspot's Exploits Subzone knowledge b...