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Goldspot Discoveries AI-Targeted Drilling Discovers New Zone Containing 19.0m of 92.86 gpt Au in Newfoundland, Canada
"We would like to thank GoldSpot Discoveries and their professional team for the utmost a...
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[{"type":"text","content":"Goldspot Discoveries AI-Targeted Drilling Discovers New Zone Containing 19.0m of 92.86 gpt Au in Newfoundland, Canada\"We would like to thank GoldSpot Discoveries and their professional team for the utmost attention to detail in managing the data compilation and interpretation. The combination of traditional and machine learning targeting has led to us to a discovery hole and New Found Gold looks forward to the continued advancement of this project and partnership with GoldSpot.\"- Greg Matheson, COO of New Found Gold Corp.Artificial Intelligence (AI) yields positive results in greenfields exploration.AI exploration program results in a new discovery with the first drillhole.NFGC-19-01 returns 19m of 92.86 gpt Au and 6m of 285.2 gpt Au.GoldSpot team compiles and processes all historic and current datapoints to engineer new maps and features to assist in targeting. GoldSpot historically invested $750,000 CAD into NFGC in exchange for shares and royalties. Toronto, Ontario--(Newsfile Corp. - January 29, 2020) - GoldSpot Discoveries Corp. (TSXV: SPOT) (the \"Company\" or \"GoldSpot\") announces that its client, New Found Gold Corp. (\"NFGC\"), benefiting from GoldSpot's AI technology and exploration expertise, has reported a significant new high-grade gold discovery at its Linear (renamed \"Queensway\") project located in Central Newfoundland, west of the Town of Gander. NFGC has reported that drill hole NFGC-19-01 returned high-grade intercepts. Visible gold (VG) was recorded within 17 metres of the 19 metres interval with gold grains observed throughout. The new intersection is within a quartz-iron carbonate breccia hosted by black shales and mixed sediments of the Davidsville Group and in the Appleton fault zone. The intercept, 96 meters downhole, remains open for expansion down-dip and along strike. The true width of this intercept is estimated to be 70% based on drill core angles.For more information on NFGC's drill results, see the press release issued on January 28, 2020 by Mexican Gold Corp., which has entered into a binding letter agreement to acquire 100% of NFGC's shares, at mexicangold.ca/_resources/news/2020-01-28.pdf.The 100% NFGC-owned Linear land package consists of 56 mineral licenses across 3,290 claims covering approximately 823 km2. GoldSpot's AI-based approach combines traditional geological expertise with prov...