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GoldSpot Discoveries Enters into Strategic Data & Royalty Relationship with NV Gold
  GoldSpot enters into a strategic data and royalty relationship with NV Gold to create...
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[{"type":"text","content":"GoldSpot Discoveries Enters into Strategic Data & Royalty Relationship with NV Gold GoldSpot enters into a strategic data and royalty relationship with NV Gold to create a new and innovative approach for prospect generation in Nevada, one of the top mining jurisdictions in the World.NV Gold has engaged GoldSpot to fully evaluate archival databases from AngloGold and USMX.The AngloGold database includes extensive exploration data developed and built by AngloGold, encompassing nearly 30 years of work in Nevada at an estimated cost of US$15 million.The USMX database was developed during the 1970s and 1980s and has never been assessed for the last 40 years.For the first time both databases (AngloGold and USMX) will be combined and fully evaluated using the proprietary technology developed by GoldSpot.Toronto, Ontario--(Newsfile Corp. - June 2, 2020) -  GoldSpot Discoveries Corp. (TSXV: SPOT) (\"GoldSpot\" or the \"Company\") is pleased to announce it has entered into a strategic data relationship with NV Gold Corporation (TSXV: NVX)(\"NV Gold\"), a Vancouver, British Columbia based mineral exploration company focused on delivering value through mineral discoveries and project advancement. The purpose of the strategic relationship is for GoldSpot and NV Gold to work together to utilize GoldSpot's technologies and NV Gold's databases to generate new exploration targets.In connection with the strategic relationship, GoldSpot and NV Gold have entered into a services agreement, pursuant to which, among other things: (i) NV Gold will grant GoldSpot a 0.5% net smelter return royalty (\"NSR\") on prospects/projects identified, staked or acquired using its mineral databases; (ii) GoldSpot will have the option to purchase a further 0.5% NSR on such identified assets derived from the mineral databases for a purchase price of CDN$1,000,000; and (iii) for a term of 18 months GoldSpot will provide technical services at market rates related to the evaluation and identification of mineral prospects within NV Golds mineral geological databases and provide technical services for exploration activities in Nevada.To date, NV Gold has acquired proprietary databases to aid in its vision, including datasets assembled by AngloGold Ashanti North America Inc. (AngloGold) and its predecessors and U.S. Minerals Exploration Corp (USMX). These database...