Toronto, ON, December 8th, 2022 – NEWFOUNDLAND DISCOVERY CORP. (CSE: NEWD, OTC: NEWDF, FSE: M4K-FF) (“Newfoundland Discovery” or the “Company”) is pleased to announce that Gitennes Exploration Inc. (“Gitennes”) has commenced a diamond drilling program at the JMW property (“JMW”) in the Chapais-Chibougamau area of Quebec. The Company entered into an option agreement Gitennes on November 3rd, 2022. Details can be found on the announcing and subsequent news releases at the Company’s website.
The diamond drilling program is planned for approximately 1,200 metres in six diamond drill holes and is a follow up on results of the previously completed Induced Polarization (“IP”) geophysical survey and historical work. Three distinct styles of mineralization/targets have been identified on JMW (Figure 2) and thirteen zones of interest from the IP survey are highlighted by chargeability anomalies (See Figure 2 dark lines). Strong anomalies occur in the sedimentary rocks and these rocks are known to host gold deposits and occurrences in the Chapais-Chibougamau area. The planned diamond drill program will target both sedimentary and intrusive rocks.
Figure 1: Geology, Exploration Target Areas and Induced Polarization Chargeability Anomalies. White lines were surveyed by IP, Magnetometer and VLF=EM. Red Lines were surveyed by magnetometer and VLF-EM only
Figure 2: Maxwell and JMW properties in the Chapais-Chibougamau area of Quebec
About Newfoundland Discovery Corp.
Newfoundland Discovery is a Canadian junior mining exploration company focused on exploration and development along the Detour Gold trend in Quebec and the Central Gold Belt in Newfoundland and Labrador. The Company is one of the largest mineral claim holders in the Detour trend and retains significant landholdings in Newfoundland. The Company also holds an earn-in option agreement into the JMW and Maxwell projects in Chapais-Chibougamaua area of Quebec.
On Behalf of the Board of Directors,
NEWFOUNDLAND DISCOVERY CORP.
President, CEO & Director
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This news release may contain certain “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.