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GoldSpot Discoveries Signs Service Agreement with Opawica Explorations and Acquires Royalties in the Abitibi Gold Belt and Central Newfoundland
Toronto, Ontario--(Newsfile Corp. - June 16, 2021) - GoldSpot Discoveries Corp. (TSXV: SPO...
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[{"type":"text","content":"GoldSpot Discoveries Signs Service Agreement with Opawica Explorations and Acquires Royalties in the Abitibi Gold Belt and Central NewfoundlandToronto, Ontario--(Newsfile Corp. - June 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 Opawica Explorations Inc. (\"Opawica\") to assist in the exploration of Opawica's projects in the Quebec Abitibi Greenstone Belt and Central Newfoundland. GoldSpot has a large, collaborative team of geoscientists and data scientists focused on maximizing the chances of discovery using GoldSpot's proprietary technology and geoscience expertise.Highlights:GoldSpot's engagement with Opawica is the largest client engagement to date, inclusive of significant royalty and royalty option additions to the Company's growing investment portfolio. GoldSpot has been granted a royalty and the option to acquire royalties on Opawica's projects in Quebec and Newfoundland, including a 0.5% NSR royalty with the option to acquire another 0.5% NSR for $1-million on Bazooka, which lays directly south of Yamana Gold's Wasamac gold property that has existing proven and probable mineral reserves of 1.8 million ounces of gold at 2.56 grams per tonne. (NI 43-101 Technical Report - Feasibility Study of the Wasamac Project, 2018)GoldSpot's royalty coverage or the option to acquire royalty in Newfoundland increases by 16%, from 2,489.52 km2 to 2,888.52 km2.\"GoldSpot was born from an exhaustive pilot project generated from the decades of data collected on the Quebec Abitibi belt. As such, it is with great pleasure that we now announce our largest deal this year inclusive of additional royalty and royalty options which significantly grow our Newfoundland royalty coverage,\" said Denis Laviolette, Executive Chairman and President of GoldSpot. \"The GoldSpot team will work closely with Opawica to analyze geological, geochemical and geophysical data in order to generate exploration concepts and drill targets that will be tested by the experienced Opawica technical team.\"GoldSpot will use its artificial intelligence and machine learning expertise to delineate drill-ready targets as well as identify prospective areas regionally fo...