Toronto - 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 Canada Silver Cobalt Works Inc. to apply its proprietary machine learning technology and geoscience expertise across multiple properties and projects in Quebec and Ontario.
Canada Silver Cobalt owns the Gowganda Area Property near Kirkland Lake where the Castle Mine produced 9.5 million oz silver and 300,000 lbs of cobalt in the 1900s (Robinson, D.R. and Basa, E.M. 1992. Temagami-Temiskaming Mine Compilation Report, (unpublished) for Ministry of Northern Development and Mines). The Castle East project is located 1.5 km east of the Castle Mine. Canada Silver Cobalt discovered the Robinson Zone with intersections of 50,583 g/t Ag over 0.6m in hole CS-19-08-W01 and 70,380 g/t Ag over 0.3m in hole CS-19-08-W02. Canada Silver Cobalt also recently discovered high-grade gold of 24.95 g/t over 0.30 m in hole CS-20-31. Reference: Rachidi, M. 2021, NI 43-101 Technical Report update for Castle East, Ontario, Canada, with an effective date of April 30, 2021, and a signature date of May 25, 2021.
GoldSpot Discoveries will be working in conjunction with the geotechnical team at Canada Silver Cobalt, to assist in expanding current resources, identify additional targets in proximity to existing deposits, as well as working on a regional scale to identify smart targets for additional discovery.
'Canada Silver Cobalt has some of the best silver intercepts in recent history and we are very excited to be a part of that,' commented GoldSpot Chief Executive Officer Vincent Dube-Bourgeois. 'We look forward to working with the geotechnical team at Canada Silver Cobalt to identify additional targets leading to the expansion of existing deposits as well as new additional discoveries.'
Matt Halliday, President and Chief Operating Officer, added, 'Our team looks forward to working with the GoldSpot team, I believe that this data-driven project will open up new possibilities in the both the Robinson System leading to more efficient use of our drill meters but allow us to generate and prioritize drill targets on our broad exploration package.'
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) is a technology company using artificial intelligence to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. GoldSpot works with industry leaders across all commodity and deposit types to identify new exploration targets, develop cutting-edge technologies and to strategically invest in mineral exploration companies. Our leading team of expert scientist's merge geoscience and data science to deliver bespoke solutions that save time, reduce costs and produce far more accurate results than ever before possible.
Contact:
Denis Laviolette
Tel: 647-992-9837
Email: investors@goldspot.ca
Cautionary Statement on Forward -Looking Information
This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. 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 information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. 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.
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