GoldSpot Discovers New Gold System at Quebec Precious Metals' Elmer East Gold Project Using Artificial Intelligence

  • GoldSpot Discoveries Corp. proprietary approach of Artificial Intelligence (AI) and geological interpretation yields positive results in greenfields exploration;
  • Nine grab samples returned up to 17.75 g/t Au with an average of 5.41g/t Au, and also up to 7.99% Zn;
  • The new discovery borders a regional-scale shear zone, previously interpreted by GoldSpot, which opens new multi-kilometers potential along strike;
  • GoldSpot was the sole AI-company operating on the Elmer East Gold Project.

Normand Champigny, CEO of Quebec Precious Metals commented: "We appreciate the contribution of GoldSpot to the identification of this exploration target and the field work that resulted in the discovery."

Toronto, Ontario--(Newsfile Corp. - September 17, 2020) - GoldSpot Discoveries Corp. (TSXV: SPOT) ("GoldSpot" or the "Company") is pleased to announce that Quebec Precious Metals Corporation ("QPM") has successfully discovered a new polymetallic gold rich vein system within one of GoldSpot's high priority targets at the Elmer East project located in James Bay, Quebec. GoldSpot is a shareholder of QPM but does not own any direct interest in the underlying properties. The new discovery borders a regional-scale shear zone previously interpreted by GoldSpot, which opens new multi-kilometers of potential along strike.

The Lloyd showing consists of a 1 to 2 m thick SW-NE-trending shallow dipping oxidized quartz vein with various amount of sulphides (galena, sphalerite and chalcopyrite) over a distance of approximately 60 metres. No historical work was previously documented in the vicinity of the discovery. A total of 9 grab samples were collected from the vein, returning gold values ranging from 0.42 g/t Au to 17.75 g/t Au with an average 5.41 g/t Au (Table 1). Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property. The Lloyd showing are among the highest gold values of the region (cf. SIGEOM database, Ministère des Ressources Naturelles du Québec "MERN"). Silver values averaged 29.2 g/t Ag. Anomalous copper, zinc and lead were also observed with zinc values of up to 7.99% Zn. The gold-bearing vein is hosted in a weakly chloritized wacke near the contact with a polygenic conglomerate of the Wabamisk formation. Another anomalous quartz vein grading at 0.33 g/t Au was sampled 400 m east of the initial discovery, demonstrating the continuity of the new gold system along the interpreted WSW-ESE-trending regional-scale shear zone.

One strength of the GoldSpot Smart approach of AI and geological methods to exploration is the ability to take large land packages and distill all available geological information to identify the most efficient and cost-effective way to explore prospective terrane. As is standard in GoldSpot's workflow, most of all available public geoscience data was compiled and synthesized for Elmer East property and surrounding areas. Structural, geological, metamorphism, hydrothermal footprint and geophysical components were all analysed through GoldSpot's proprietary AI tools to produce the final high-priority targets for field prospecting (Figure 1).

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Figure 1: GoldSpot's AI targeting results with GoldSpot's interpreted structures and mineral showings (MERN), Annabelle claims of the QPM's Elmer East project.

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As part of the mandate, GoldSpot's geologists spent one month in the field in the summer 2020 with QPM's geological team conducting a follow-up field program on the targets. This process included visiting over 400 outcrops, previously identified by GoldSpot's unique AI methods, and recording various rock types, structures, collecting grab samples and documenting a wide range of geological features, which led to the discovery of the Lloyd showing (Figure 2 and 3).

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Figure 2: Aerial view of the Lloyd showing area.

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Figure 3: Mineralized samples at the Lloyd discovery. Sample B566106 grading at 13.55g/t Au (above), B566181 grading at 17.75g/t Au (below). See Table 1.

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Behind the Discovery: Refining the Search Area

GoldSpot conducted a desktop-based geological interpretation and a gold prospectivity assessment at the Elmer East project to orient the summer 2020 field exploration program. This study hinged on the digital extraction from a large collection of compiled data including assessment files, government data and academic studies which provided bedrock geology, geochemical analyses, geophysical surveys. Original data was cleaned and combined to create and optimize the data source for all human and machine learning interpretations.

Refining the Geological Portrait of the Elmer East Area

The Elmer East project covers Archean greenstone belts and batholiths in the lower Eastmain region of James Bay. The compilation of over 30,000 discrete outcrop observations combined with over 12,000 lithogeochemical samples allowed a reliable revisit to existing large-scale geologic mapping resulting in a refined geologic map (Figure 4). In particular, the study highlighted the definition of a hitherto unrecognized clastic sedimentary basin in the Annabelle claim, as well as felsic porphyritic intrusions and ultramafic intrusions in the properties.

Lithological contacts juxtaposing rocks with contrasting rheology (e.g. intrusive vs sedimentary rock) is an important factor for vein development, with gold-bearing examples in the region, and in particular at the Eleonore deposit area (cf. Fontaine, 2020).

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Figure 4: Existing MERN's Geological map (up) and the updated GoldSpot's Geological map (down) with the Elmer East block claims in dashed line.

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The structural reinterpretation, generated using both the 2020 QPM's high-resolution aeromagnetic survey and the regional public aeromagnetic survey, highlights subvertical ductile shear systems, which border and transect volcano-sedimentary belts; and second and third order structures appear imbricated and flank isoclinal folds in the Annabelle block claim.

Structural complexity is widely recognized in Archean gold deposits, including in the James Bay, as a major contributor to the gold-bearing vein development (Dube and Mercier-Langevin, 2015; Fontaine, 2020). Following the initial interpretation, GoldSpot produced a map index of the perturbation of the azimuth of ductile structures, including the 1st and 2nd order shears and the foliation, which represent the structural complexity of the area. Results highlight an intense structural complexity in the northwestern part of the Annabelle claim, indicating dominant shearing, folding and intersection of both (Figure 5).

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Figure 5: Structural complexity in the Annabelle area, Elmer East project.

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The updated geological map and global understanding of the area allow GoldSpot to propose a comparison between the Annabelle area and the Eleonore zone (Reserves proven and probable: 1,28 Moz Au; cf. Newmont). Common geological characteristics include: a) a volcano-sedimentary sequence, from base to top, basalt, conglomerate, sandstone-greywacke and paragneiss, intruded by several felsic intrusions, b) a structural complexity highlighted by intense folding and shearing, c) felsic volcanic and sediment event <2709Ma, and d) a major metamorphic gradient ranging from greenschist to amphibolite superior.

Targeting

GoldSpot generated gold targets using a Smart approach combining tacit knowledge and AI data-driven methods. For the latter, the analysis trains machine learning algorithms to predict the presence of gold using all variables (features). Once the model performs to a satisfactory level, results produced include: 1) a series of zones with high probability of containing gold, illustrated in the Figure 1; and 2) a ranking of feature importance for each input feature. The new lithological and structural interpretation was the dominant contribution to the targeting model.

Following the targeting, the total area of investigation was reduced by 95%. The Lloyd showing has been discovered in one of the highest proposed priority zones.

Table 1: List of grab samples and assay values from the Lloyd discovery.

Sample #UTM EUTM NAu (g/t)Ag
(g/t)
Cu (%)Zn
(%)
Pb (%)
B566181367059579544417.7529.20.11NSV1.745
B565106367081579545313.5523.00.131.981.35
B56618236706857954475.1921.20.141.13NSV
B56611436708357954712.6667.20.062.332.49
B56510736708357954581.8933.50.13NSV1.42
B56517936705257954421.7713.660.777.99NSV
B56611336708557954770.426.470.02NSVNSV
B56511236708557954770.8820.10.031.09NSV
B56618036705757954404.6448.90.545.681.87

 

QA/QC

Grab sample positions were recorded with a high-precision GPS. Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the grab samples. Standards and blanks were inserted regularly into the sample stream.
The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation.

All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au. Samples were also tested for multi-element using four-acid digestion.

Qualified Persons

The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 -- Standards of Disclosure for Mineral Projects, and reviewed and approved by Ludovic Bigot, professional geologist (OGQ - P.GEO No. 1655), a qualified person as defined by NI 43-101 guidelines.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) 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 times, reduces costs and provides accurate results.

About Quebec Precious Metals Corporation

Quebec Precious is a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corp.'s Eleonore gold mine. Quebec Precious's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. Quebec Precious's goal is to rapidly explore this project to advance it to the mineral resource estimate stage.

For further information please contact:

Vincent Dubé-Bourgeois, Chief Executive Officer and Director
GoldSpot Discoveries Corp.
C: +1-819-592-1195

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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