GoldSpot Targeting Results in a High-Grade Gold Discovery at Pretium Resources' Golden Marmot Zone
Toronto, October 27, 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, and Pretium Resources Inc. (TSX: PVG) (NYSE: PVG) ("Pretium"), are pleased to announce the results of the first phase of prospectivity analysis on the Brucejack Property in Northern British Columbia. Integrated geoscience interpretations, including geochemistry, geophysics, and hyperspectral remote sensing were underpinned by GoldSpot's machine learning algorithms to identify 65 targets around the Brucejack mine, with Golden Marmot ranking as a high-priority drill target for quartz-vein-hosted gold mineralization.
Figure 1: Prospectivity results for epithermal style mineralization. The Golden Marmot zone is approximately 3km to the NW of the Brucejack infrastructure
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GoldSpot works with leading exploration and mining clients across all commodities and deposit types, using cutting-edge technology and geoscientific expertise to mitigate exploration risks and significantly increase the efficiency and success rate of mineral exploration across resources. Assay results have been received from the first nine holes of drilling, eight of which intersected gold mineralization (see Pretium news release dated October 25, 2021) at the Golden Marmot Zone, which was highlighted as a high priority target by GoldSpot's geodatascience team.
"The results from Pretium's high-grade gold discovery are incredible and showcase the power of GoldSpot's innovative approach, combining traditional targeting and machine learning to identify high-priority targets," said Denis Laviolette, Executive Chairman and President of GoldSpot. "We look forward to advancing our work with Pretium to expand the potential of the Brucejack Property."
The targets were identified using an innovative integrated approach, combining traditional targeting and machine learning. The traditional geoscience targeting included structural analysis from geophysics, multivariate analysis from geochemistry, and dimension reduction processing of hyperspectral images; derivative products created during the traditional interpretation were used as input variables for the supervised machine learning workflow, which was undertaken using a series of carefully curated training points. Prospectivity scores were generated for four distinct mineralization styles (epithermal, porphyry Au, Au-quartz veins, and polymetallic veins).
A second phase of the prospectivity analysis, encompassing the entire Bowser property, was completed in August 2021.
The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, Standards of Disclosure for Mineral Projects, and reviewed and approved by Chris MacInnis, professional geoscientist (APGO No. 2059), a qualified person as defined by NI 43-101 guidelines.
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) is a technology company using artificial intelligence to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. GoldSpot works with industry leaders across all commodity and deposit types to identify new exploration targets, develop cutting-edge technologies and to strategically invest in mineral exploration companies. Our leading team of expert scientist's merge geoscience and data science to deliver bespoke solutions that save time, reduce costs and produce far more accurate results than ever before possible.
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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