Exploits Discovery Corp. (OTCMKTS:NFLDF)(CVE:NFLD) stock is gaining momentum on Tuesday on unusual volume.
Major Trigger:
Exploits Discovery Completes VTEM Survey Results to GoldSpot for Target Generation
Key Highlights:
- Exploits Discovery Corp announced the Company has completed its first phase of airborne VTEM geophysics across the Dog Bay, Jonathan’s Pond, Mt. Peyton, True Grit, and Middle Ridge properties, comprising 12,420 line kilometres flown – one of the largest high resolution surveys on Newfoundland to date.
- Early results from the data have proven the necessity for high resolution geophysics, and a second phase has been approved to cover the remaining ground at the Great Bend Project, scheduled to begin mid-July.
- Preliminary data was provided as the survey was being flown and interpreted in real time by Exploits and the Company’s partner, GoldSpot Discoveries Corp. This resulted in an acceleration of target development through highlighting areas of interest in the data, followed by dedicating on the ground exploration efforts to these specific target locations. This has increased time spent on high priority targets and filtering lower priority areas. To date, the results of the VTEM survey have delineated targets at the Schooner Fault Zone, Quinlan Veins, Jonathan’s Pond, and True Grit prospects. These targets received follow up, on the ground field exploration and are now in the process of being drill tested.
Key Quote:
William M. Sheriff, Interim President & Chief Executive Officer of Exploits, comments “VTEM survey data allows us and our technical team led by GoldSpot Discoveries to pinpoint targets in a way that is impossible with traditional prospecting techniques. The speed at which we can analyze vast areas is unprecedented and gives our geology team discrete areas to visit for exploration and sampling. This is our competitive advantage in advancing new targets and moving Exploits quickly towards discovery.”
Market Reactions
As of 12:43, NFLDF stock gained by 16% at $1.10. Total volume so far stood at 163k shares, compared to its average volume of 216K shares. The stock moved within a range of $1.0650 – 1.1600 after opening at $1.08.
 (NFLD) Stock is About To Hit New Highs: What Next?){kind=link}