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Sept. 16, 2021, 8:02 a.m. EDT

GoldSpot Discoveries Announces Engagement with Gold'n Futures to Apply Artificial Intelligence on the Hercules Gold Project in Northern Ontario

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Toronto, Ontario, Sep 16, 2021 (Newsfile Corp via COMTEX) -- Toronto, Ontario--(Newsfile Corp. - September 16, 2021) - GoldSpot Discoveries Corp. /zigman2/quotes/210443510/delayed CA:SPOT 0.00% (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 Gold'n Futures Mineral Corp. /zigman2/quotes/220222132/delayed CA:FUTR +8.33% /zigman2/quotes/220242610/delayed DE:G6M -12.07% (otc pink:GFTRF) ("Gold'n Futures") to complete property-wide, high-definition airborne geophysical surveys while conducting a comprehensive four phase artificial intelligence based target generation program on its Hercules Gold Project in Northern Ontario.

GoldSpot has a large, collaborative team of over 50 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.

Gold'n Futures' President, Stephen Wilkinson, commented, "GoldSpot is a relatively new company that has already had significant impacts on the exploration programs of its junior and large cap explorer clients. We are highly confident that Gold'n Futures' Hercules exploration program can also be exceptionally successful with new high-grade targets."

GoldSpot Discoveries Executive Chairman and President Denis Laviolette added, "Companies such as Yamana, Vale, New Found Gold Corp. and Critical Elements Lithium Corporation have benefitted from GoldSpot's cutting-edge AI and geoscientific expertise across resources and mineral types. We are excited to add Gold'n Futures to our growing client base of top-tier exploration properties and look forward to executing our new M-PASS airborne geophysical platform and four-phase target generation program on the Hercules Gold Project."

Under its engagement, GoldSpot will complete property-wide, high-definition airborne geophysical surveys while conducting a comprehensive four phase program:

Phase 1: Site Visits and Geophysical Surveys

Site visits allow GoldSpot geologists to speak and interact closely with the site geologists to better understand the regional geology and mineralization environment. Airborne geophysical surveys will consist of GoldSpot's M-PASS platform of a triaxial magnetic gradient magnetic/VLF platform. The surveys will cover the entire 109 square kilometres of Hercules Property, flying approximately 1,200 line-km with 100-metre line spacing.

Phase 2: Data Treatment and Geological Modeling

Using the raw data and the knowledge gained from Phase 1, GoldSpot will (as needed):

  • Update geological maps;

  • Identify of exploration vectors;

  • Normalize and standardize of input data;

  • Reprocess geophysics data, generally including generation of new interpretations;

  • Produce geological models (e.g., lithology, alteration, oxidation, overburden profiles, etc.); and

  • Prepare statistical analysis of preferential orientations for relevant data (e.g., mineral and geochemical occurrences).

Phase 3: Conventional and Machine Learning Target Generation

GoldSpot will address two types of target delineation:

  • Conventional Targets - Internally the project geologists and geophysicists will examine data in a traditional fashion and delineate targets they feel are the most prospective, based on their understanding of the data and the mineralization of the region.

  • Machine Learning Targets - Concurrent to the production of the conventional targets, GoldSpot's machine learning experts will begin to produce drill targets based on the machine learning algorithms. These are made independently with no knowledge of the conventional targets prior to their generation.

Phase 4: Final Target Generation and Presentation

GoldSpot will author the final presentation and deliver all the data produced during the length of the project. These deliverables include:

  • The newly cleaned and recoded database, e.g., of drilling data;

/zigman2/quotes/210443510/delayed
CA : Canada: TSX Venture
$ 0.97
0.00 0.00%
Volume: 98,078
Oct. 15, 2021 5:00p
P/E Ratio
5.46
Dividend Yield
N/A
Market Cap
$112.82 million
Rev. per Employee
N/A
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/zigman2/quotes/220222132/delayed
CA : Canadian Securities Exchange
$ 0.07
+0.0050 +8.33%
Volume: 18,000
Oct. 14, 2021 11:57a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$7.44 million
Rev. per Employee
N/A
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/zigman2/quotes/220242610/delayed
DE : Germany: Frankfurt
0.03
-0.0035 -12.07%
Volume: 0.00
Oct. 15, 2021 8:06a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
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