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GoldSpot Discoveries Corp. Announces Acquisition of Royalties in Two Prolific Districts Covering Over 900,000 Hectares and Closing of Strategic Partnership with Manitou Gold
Toronto, Ontario--(Newsfile Corp. - March 4, 2019) -  GoldSpot Discoveries Corp. ( TSXV: ...
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[{"type":"text","content":"GoldSpot Discoveries Corp. Announces Acquisition of Royalties in Two Prolific Districts Covering Over 900,000 Hectares and Closing of Strategic Partnership with Manitou GoldToronto, Ontario--(Newsfile Corp. - March 4, 2019) -  GoldSpot Discoveries Corp. (TSXV: SPOT) (\"GoldSpot\" or the \"Company\"), is pleased to announce that it has completed two additional strategic partnerships with each of New Found Gold Corp. (\"New Found Gold\") and One Bullion Limited (\"One Bullion\"). Pursuant to the terms of an investment agreement between GoldSpot and New Found Gold, the Company has acquired a 1% net smelter return royalty on New Found Gold's Linear Property (the \"Linear Property\") located in Newfoundland. In addition, GoldSpot has agreed to participate in a financing of New Found Gold for the aggregate amount of $750,000 and the parties have entered into a services agreement pursuant to which GoldSpot provides services on and related to the evaluation and identification of possible mineral and drill targets on the Linear Property for a period of six months. New Found Gold has completed the largest ever consolidation of property within the Linear Gold Belt in the Province of Newfoundland and now controls 17 known high-grade gold showings. The area was initially explored and successful drilled by Noranda Inc. in the 1980's and later drilled by Rubicon Minerals Corporation in the 2000's. The Linear Property covers an 85-kilometre strike length of the Joe Bett's Pond (JBP) and Appleton fault zones, both of which are considered the major structural controls of mineralization within the Linear Gold Belt. 80% of the strike length of the JBP and Appleton fault zones are virtually unexplored. GoldSpot's royalty on New Found Gold's project is over ~70,000 hectares. A fact sheet detailing the Linear Property can be found on the New Found Gold website at: https://newfoundgold.ca/wp-content/uploads/2019/02/2019M02D11_NFGC_BMO_factsheet.pdf.GoldSpot has also entered into an investment agreement (the \"One Bullion Investment Agreement\") with One Bullion Limited, pursuant to which the Company has acquired a 0.5% net smelter return royalty (the \"Botswana Royalty\") on One Bullion's various mineral claims located in the Republic of Botswana (collectively, the \"Botswana Property\"). Under the terms of the One Bullion Investment Agreement, Go...