GoldSpot Discoveries Announces Engagement with Gold'n Futures to Apply Artificial Intelligence on the Hercules Gold Project in Northern Ontario
Toronto, Ontario--(Newsfile Corp. - September 16, 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 Gold'n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (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;
- Geological maps;
- Lithological and mineralization models;
- Reprocessed geophysics layers and interpretations;
- Structural interpretations and models;
- Exploration target areas;
- A recommended exploration plan;
- A final presentation, detailing work to produce the aforementioned products;
- Any other derivative products created during the course of work.
GoldSpot's expertise includes structural geology, resource geology, geophysics, geological mapping and geostatistics with decades of combined experience between them.
About Gold'n Futures Mineral Corp.
Gold'n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (OTC Pink: GFTRF) is a Canadian based exploration company focused on advancing its Hercules gold project. The Hercules project is located 200 kilometres northeast of Thunder Bay, Ont., in the townships of Elmhirst and Rickaby, within the Thunder Bay North Mining District. The project is in the heart of the Beardmore - Geraldton gold mining camp, the 4th largest gold camp in Canada and is 40 km west of the Hardrock-Greenstone gold mine development. The property lies within an Archean greenstone belt that extends from the Longlac area in the east to Lake Nipigon in the west, a distance of about 130 kilometres and consists of 475 contiguous claim cells (10,052 ha). From the historical work completed on the property, the company has built an extensive database including reconnaissance grab samples; channel samples; a variety of geophysical surveys; and, a drill hole database that includes historical drilling totaling in the order of 537 holes. With surface grab samples grading up to 10,374 g/t gold and channel samples up to 32.96 g/t gold across 11.6 metres, the Hercules gold zones offer top tier targets for the expansion of its historical resources.
The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Walter Hanych, P. Geo., who is a Qualified Person under NI 43-101 regulations and is a director of Gold'n Futures.
About GoldSpot Discoveries Corp.
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:
Executive Chairman and President
GoldSpot Discoveries Corp.
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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