Toronto, Ontario--(Newsfile Corp. - April 26, 2021) - GoldSpot Discoveries Corp. (TSXV: SPOT) ("GoldSpot" or the "Company") is pleased to announce it has been engaged by Nevada King Gold Corp. (TSXV: NKG) ("Nevada King"), to assist in drill targeting on Nevada King's extensive land holdings along the prolific Battle Mountain Trend, Nevada. GoldSpot has a large, collaborative team of geoscientists and data scientists focused on maximizing the chances of discovery by extracting the most out of all available data utilizing GoldSpot's proprietary machine learning technology and geoscience expertise.
Highlights:
- Over the last five years Nevada King has accumulated land holdings of more than 163,860 acres (+660 km2) along the prolific Battle Mountain Trend.
- Multiple targets within these holdings have been subject to hundreds of millions in exploration expenditures over +30 years, much of this by major mining companies.
- These programs have generated substantial data sets that cover large areas of the Nevada King portfolio. Nevada King is currently undertaking aggressive exploration programs on multiple target areas that will significantly add to available data sets.
- GoldSpot will be utilizing its proprietary machine learning techniques and in-house expertise to analyze these large data sets to develop and refine targets, particularly focused on large Carlin-type deposits. These comprehensive techniques have not previously been utilized on these projects to extract the full potential of the data in vectoring to discoveries.
Denis Laviolette, Executive Chairman and President of GoldSpot stated: "Nevada King provides us with a unique opportunity to apply our technology on a large and strategic property package along the Battle Mountain Trend. Past exploration efforts along this trend have yielded several very significant discoveries, and new insights into exploring for large targets at depth have emerged from this work. GoldSpot will work closely with the technical team at Nevada King Gold to analyze geological, geochemical and geophysical data to provide Smart Targets for further drilling. This provides an excellent opportunity for GoldSpot to utilize its powerful data processing and analysis tools to generate exploration concepts and drill targets that will be tested by a well-financed and experienced management team."
Collin Kettell, Founder and Chief Executive Officer of Nevada King stated: "Working with Denis and his team of geoscientists at GoldSpot has yielded great success for several industry companies, including the recent discoveries at New Found Gold's Queensway Project in central Newfoundland. Nevada King was established six years ago with the goal to acquire a large and strategic land position along one of the world's most prolific gold exploration trends. We were able to acquire very strategic blocks of ground starting at a time when industry interest was at a low. We are very excited to partner with GoldSpot and to work with their highly experienced and capable team and to bring to bear their unique machine learning capabilities to unlock ideas that will further our goal of making the next major gold discovery in Nevada."
Summary:
Nevada King Mining Ltd. and Victory Metals Inc. recently completed a merger of equals to form Nevada King. Among its many projects, Nevada King owns 100% of the Atlanta Mine, located 100km southeast of Ely, Nevada, that currently hosts a NI-43-101 compliant mineral resource estimate constrained by a conceptual pit containing 11 million tonnes of measured and indicated resources, grading 1.3g/t Au and 460,000 Au oz. Inferred mineral resources are 5.31 million tonnes grading 0.83g/t Au containing 142,000 Au oz. (Francis, Kevin. October 6, 2020. NI 43-101 Technical Report on Resources, Atlanta Property, Lincoln County, NV.)
GoldSpot will help delineate drill-ready targets for high-grade gold/silver mineralization, as well as identify prospective areas regionally. GoldSpot's subject matter experts will homogenize, integrate, process, and interpret exploration datasets such as geological maps, drill logs, geophysics, surface and downhole geochemistry, and structural orientation data. The interpreted and derived products will be used as input layers to GoldSpot's proprietary AI (machine learning) techniques, which will be validated by the company's team of expert geoscientists, in collaboration with Nevada King Gold's technical team. Recent successes by GoldSpot with both leading producers and explorer/developers have demonstrated the potential to expand resources and make new discoveries using this advanced analytical technology.
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 Nevada King
Nevada King is the fourth largest mineral claim holder in the State of Nevada, and the fastest growing mineral claim holder in the United States. Nevada King owns a 100% interest in the Atlanta Mine, located 100km southeast of Ely, Nevada, and the Iron Point Vanadium Project, located 35km east of Winnemucca, Nevada. The Atlanta Mine is a historical gold-silver producer that currently hosts a NI 43-101 compliant mineral resource estimate constrained by a conceptual pit containing 11 million tons of measured and indicated resources grading 1.3 g/t Au and containing 460,000 oz Au. Inferred mineral resources are 5.31 million tons grading 0.83 g/t Au containing 142,000 oz Au. Past open pit production is reported to have been 110,000 oz Au and 800,000 oz Ag (1975-1985). The Iron Point Vanadium Project is located within a few miles of Interstate 80, has high voltage electric power lines running through the project area and a railroad line passing across the northern property boundary. Nevada King is well financed to advance the Iron Point Vanadium Project through resource estimation and initial feasibility study work. Nevada King is led by an established team of mining entrepreneurs including founders Collin Kettell and Paul Matysek. Notable members of the Board of Directors include Dr. Quinton Hennigh, Craig Roberts, and Doug Forster.
About GoldSpot Discoveries
GoldSpot Discoveries Corp. (TSXV: SPOT) is a technology services company. The GoldSpot team includes experts who merge geoscience and data science to deliver bespoke solutions that transform the mineral discovery process. For prospect generation in large land packages, GoldSpot utilizes a 'Smart Target' approach to distill decision making knowledge products from available geological information. Value addition comes from integrating big data, synthesizing new geological layers, and producing innovative results which save time, human resources, and expenditure.
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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