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Toronto, Ontario – (Newsfile Corp. – August 17, 2020) – GoldSpot Discoveries Corp. (TSXV: SPOT) (the “Company” or “GoldSpot”) contracted through Margaux Resources Ltd. (TSXV: MRL) in May 2020 to apply patented device learning techniques in a forged geoscience framework to help identify and classify drilling targets in Taurus’ assets of the historic Cassiar Gold Camp.
GoldSpot worked intensively with Margaux’s technical team to analyze all geological knowledge and create high-quality multivariate drilling targets in and around the Taurus bulk tonnage gold deposit (NI 43-101 resource estimated at 1M oz. At 1.43 g/t Au, National Instrument Technical Report 43-101 on the Cassiar Gold Property, Scott Zelligan, P. Geo., 10 September 2019), as well as several exciting exploration and conceptual objectives in the northern component of Margaux’s claims package for the drilling crusade that began on August 10, 2020.
In collaboration with Margaux, GoldSpot has incorporated and reinterpreted various data sets (geochemical, geophysical, geological) to provide a consistent and consistent interpretation of geosciences that has facilitated the focus of drilling for the next drilling program in Taurus. These goals were evaluated and supported through new knowledge gained through GoldSpot’s leading geologist, Lindsay Hall, on her site scale in July. “I am very impressed with the incredible bullish outlook of this gold-rich property traditionally displayed. Every day, on the spot, I discovered some other very promising area.”
A vein of mineralized quartz embedded in altered basalt (Photo 1) known last week in the first of GoldSpot’s high-priority target spaces for floor verification through Margaux’s box equipment. GoldSpot’s conceptual goal combined geophysical, geochemical and geological knowledge and data to find the most promising portions of this vast land mass. This vein is less than 2 km from the Taurus high tonnage gold deposit.
Photo 1: Highly altered basalt quartz vein through iron carbonate on the known target through the GoldSpot lens generation process.
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“We are very pleased with the great interest of investors and being able to drill on our flagship Cassiar Gold property. Our 2020 exploration program was launched in August and we are excited about the possibility of expansion and exploration of the well-known Taurus mineralization. Deposit,” said Marco Roque, CEO of Margaux.
“Our team has worked hard to technically advance Cassiar’s allocation for drilling, and we look forward to delivering a successful program,” said Kaesy Gladwin, Margaux’s vice president of exploration.
The technical data contained in this press release are ready in accordance with the Canadian regulatory needs set out in Regulation 43-101 – Mining Project Disclosure Standards, and revised and approved through Lindsay Hall, professional geoscientific (APGO No. 0891), a user qualified as explained through NI 43-101.
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (TSXV: SPOT) is a generation and investment company that leverages device learning for capital threats while striving to increase the power and rates of good fortune in resource exploration and investment. GoldSpot Discoveries combines patented generation with classic domain expertise, offering a comprehensive service solution to its partners and, in some cases, capital to launch exploration programs. GoldSpot’s responses target the problems of great knowledge, making full use of unused classical knowledge to better perceive the potential for resource ownership.
About Margaux Resources Ltd.
Margaux Resources is a Canadian exploration-oriented gold exploration company in British Columbia run through a successful Canadian business leaders’ organization.
For information, contact:
Denis Laviolette, Executive Chairman and President GoldSpot Discoveries Corp. Phone: 647-992-9837 Email: [email protected]
Warning about prospective information
Neither TSX Venture Exchange (“TSXV”) nor its regulatory service provider (as explained in TSXV’s policies) assumes the duty of the relevance or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. These statements relate to future events or future performance. All statements other than statements of historical facts may be forward-looking statements or information. Generally, forward-looking information and statements may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “proposed”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information with respect to the Company’s objectives, goals or future plans, positioning in the market, exploration results and exploration plans, the ability to identify and analyze all available data, identify and rank drill targets, enhance exploration opportunities for gold mineralization and the advancement of the Cassiar project, and the increase in shareholder value. Such forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company, including, among other things, assumptions and expectations with respect to capital and operating costs varying significantly from estimates, the Company’s ability to retain key personnel, the preliminary nature of metallurgical test results and the successful operation of the Company’s technologies, delays or failure to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in general economic conditions, equity markets, inflation, fluctuations in commodity prices, investor interest, delays in the development of projects and the other risks involved in the mineral exploration and development industry, the success of the drill program at Taurus, the impact of competitions, trends in the industry and changes in laws, rules and regulations. The forward-looking information contained in this news release is subject to known and unknown risks and uncertainties, including but not limited to, adverse economic, regulatory and/or legislative developments, delays with respect to the Company’s plans and those risks and uncertainties set out in the Company’s public documents filed on SEDAR, any of which could cause actual results to differ materially from those expressed or implied by the forward-looking information disclosed herein.. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such forward-looking statements, which only apply as of the date of this news release, and no assurance can be given that such plans, intentions or expectations upon which they are placed will occur in the disclosed time frames or at all. Such information may prove to be incorrect and actual results may differ materially from those anticipated. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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