GoldSpot Discoveries Engaged by Ethos Gold to Apply AI Exploration Technologies at the Toogood Project in Newfoundland
- GoldSpot's engagements with New Found Gold, Sterling Metals, TRU Precious Metals, Exploits Discovery, Opawica Explorations and Ethos Gold showcase the Company's strong analytical experience in the province.
- GoldSpot's 'Smart Targeting' approach will analyze Ethos' large data sets to develop and refine targets at the Toogood Project.
Toronto, June 23, 2021 - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) ("GoldSpot" or the "Company"), a leading technology services company leveraging machine learning to transform the mineral discovery process, is pleased to announce it has been engaged by Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) ("Ethos Gold"), to apply its proprietary machine learning technology and geoscience expertise on Ethos Gold's 118 km2 Toogood Project located on New World Island, approximately 65 km north of Gander, Newfoundland.
Ethos Gold, a member of the highly successful Discovery Group, has accumulated a portfolio of district-scale projects in British Columbia, Ontario, Quebec, and Newfoundland and is led by a renowned technical and geologic team with a strong history of discovery success. GoldSpot will work with the Ethos Gold technical team to help delineate drill-ready targets for orogenic gold mineralization, as well as identify prospective areas regionally.
"We are thrilled to leverage our strong foothold in Newfoundland and add Ethos Gold to our growing client roster," said GoldSpot Discoveries Executive Chairman and President, Denis Laviolette. "Our work so far in the province has yielded incredible success and we are confident that our leading team of geoscientists and data scientists will maximize the chances of discovery at Ethos' Toogood Project using our proprietary machine learning technology."
Alex Heath, CFA, President and CEO of Ethos, stated: "We are excited to work with GoldSpot to unlock the high-grade gold potential of our Toogood Project in Newfoundland. GoldSpot's track record of success using cutting edge exploration techniques complements our team's technical strengths, which will allow us to develop high-priority drill targets for testing later this year."
GoldSpot works with leading exploration and mining clients to apply cutting edge Artificial Intelligence algorithms to significantly increase the efficiency and success rate of mineral exploration across resources. GoldSpot's AI-based approach scales the data to match the size of the property and the data density effectively. This allows clients to narrow down potential targets, which reduces financial risk by prioritizing the ideal locations for exploration spending.
About Ethos Gold Corp.
Ethos Gold, a proud member of Discovery Group, has accumulated a portfolio of district-scale projects in British Columbia, Ontario, Quebec, and Newfoundland that have large scale discovery potential. The Company has a solid technical team led by Dr. Rob Carpenter, formerly the CEO of Kaminak Gold Corporation, who led the Kaminak team from initial listing in 2005 through acquisition and discovery of the multiple-million-ounce Coffee Gold Project. In Ethos, he has assembled a senior technical advisory team with a strong record of discovery success and includes Dr. Robert Brozdowski, P.Geo., Dan MacNeil, M.Sc., P.Geo., Dr. Alan Wainwright, P.Geo, and Dr. Quinton Hennigh, an economic geologist with 25 years of exploration experience formerly with Homestake Mining Company, Newcrest Mining and Newmont Mining Corp. Ethos is advancing its nine projects throughout Canada under the stewardship of Vice President of Exploration, Jo Price, P.Geo., MBA, with work programs set to begin this summer with dedicated teams on each project. Ethos engages proactively with Indigenous rightsholders and seeks to develop relationships and agreements that are mutually beneficial. The Company's community relations efforts are led by Michelle Tanguay who has over 25 years experience in indigenous and stakeholder engagement and environmental program design and management. With approximately C$11 million in working capital, Ethos is well funded to advance its portfolio of Canadian projects.
About GoldSpot Discoveries
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) is a technology services company in mineral exploration. GoldSpot is a leading team of expert scientists who merge geoscience and data science to deliver bespoke solutions that transform the mineral discovery process. In the race to make discoveries, GoldSpot produces Smart Targets and advanced geological modelling that saves time, reduces costs and provides accurate results.
For further information please contact:
Denis Laviolette
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: investors@goldspot.ca
Cautionary Statement on Forward-Looking Information
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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