The Program included a detailed technical study by GoldSpot's team of experienced industry professionals through remodelling geophysical surveys, surficial geochemistry, all previous drilling on site, and utilization of a supervised machine learning program to complete targeting. Each target was validated to ensure it fit within the proposed geological model parameters. The targets were then prioritized, and specific field work recommendations were developed for each target area. GoldSpot also highlighted the open-ended potential at the Lucky Mike area, calling it a 'large hybrid porphyry-skarn system, where skarns and polymetallic showings ring what appears to be an intrusive body with evidence of porphyry copper mineralization'.
Highlights
Confirmed copper porphyry occurrences with open-ended upside potential on the
Regionally located along mineralized corridor with ideal geology to host copper deposits.
24 areas with multi-factor indicators showing existing or potential to host mineralization.
Clear work plan and recommendations laid out for exploring target areas.
Large 120 square kilometre project area give
GoldSpot produced priority sequence for their targets based on a matrix probability method and recommended specific work programs for each target. The Company is now taking these recommendations under review and plans to proceed with field work in the coming weeks.
The review identifies major regional structures connecting the
The Lucky Mike area (Target 24): highlighted in the model showing a clear pattern of skarn mineralization ringing around a modeled intrusion at depth with associated potassic alteration. High magnetics are modeled as a dyke swarm emanating from the intrusive body at depth occurring along major NE trending faults. The Lucky Mike area is also associated with known skarn mineralization which has been the focus of previous mining activity on the
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Forward-Looking Information
This news release may contain certain forward-looking information and statements, including without limitation, the Warrant Amendments, the Incentive Program, statements regarding exploration plans, the use of proceeds, and other future plans and objectives, and statements pertaining to receipt of TSXV approval. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates change, other than as required by law. Readers are further advised not to place undue reliance on forward-looking statements.
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