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GoldSpot Discoveries Signs Service Agreement with King Global Ventures & Acquires Option for NSR on Newfoundland Portfolio
Toronto, Ontario--(Newsfile Corp. - October 14, 2021) - GoldSpot Discoveries Corp. (TSXV: ...
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[{"type":"text","content":"GoldSpot Discoveries Signs Service Agreement with King Global Ventures & Acquires Option for NSR on Newfoundland PortfolioToronto, Ontario--(Newsfile Corp. - October 14, 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 King Global Ventures Inc. (TSXV: KING) (OTC Pink: KGLDF) (FSE: 5LM1) (\"King Global\") to assist in the exploration of King Global's projects in Central Newfoundland. GoldSpot has a large, collaborative team of 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.Robert Dzisiak, Chief Executive Officer of King Global, commented: \"We are very pleased to engage the services of GoldSpot to assist in the exploration of our portfolio of gold exploration properties in Central Newfoundland. GoldSpot's proven success and proprietary, machine learning exploration techniques will greatly enhance our exploration efforts and further develop our geological model. We have forwarded our historical exploration data to GoldSpot and will undertake a MAG survey this fall. King looks forward to the analysis of this data by GoldSpot and the subsequent development of a Phase 2 program that will delineate drill targets for a follow up drill program.\"\"King's portfolio of prospective and previously explored gold exploration projects in the Gander Gold Belt Region of Newfoundland is perfectly positioned for our team to add significant value,\" said GoldSpot Discoveries Executive Chairman and President, Denis Laviolette. \"We look forward to undertaking our Smart Target program and advanced geological modelling for the portfolio as well as a MAG survey through Ridgeline, GoldSpot's full-service field exploration firm which will provide high-caliber input for our AI solutions.\"GoldSpot has also been granted an option to acquire a 0.5% net smelter return royalty (\"NSR\") on the following licenses in Newfoundland for $2.0 million:Gold Nugget Property (1,850 ha.)Miss Pickle (950 ha.)Gold Boulder (100 ha.)Chapel Island (1,300 ha.)The payment due on execution of the NSR options gra...