GoldSpot Discoveries and Opawica Exploration Identify High Priority Drill Targets at the Bazooka Gold Project
Toronto, Dec. 14, 2021 - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) ("GoldSpot" or the "Company"), a leading technology company leveraging artificial intelligence and data science to transform the mineral discovery process, and Opawica Exploration Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) ("OPW"), are pleased to announce the results of GoldSpot's property wide data review, reinterpretation, and target generation utilizing traditional geological and machine learning methods, which was completed in collaboration with the OPW geological team. The results of this exercise have led to the identification of 25 new high-priority drill targets at the Bazooka Gold project, South of Rouyn-Noranda, in the Abitibi Greenstone Belt.
Vincent Dubé-Bourgeois, CEO of GoldSpot Discoveries commented: "The work done by GoldSpot team at Bazooka, proves the strong Prospectivity potential of this area. We are happy to have been working on these new drill targets with Opawica team and look forward to the results."
Blake Morgan, CEO of Opawica Exploration commented: ""We have added another 25 drill targets, which is excellent work from the Opawica team in conjunction with GoldSpot Discoveries Corp. Now, with a total of 39 High Priority drill targets and more coming, the team is in a great position for success."
Methodology and Input Data
On behalf of Opawica, GoldSpot has compiled and integrated legacy drillhole datasets, that includes lithological, structural, alteration, mineralogical and geochemical information, to generate unprecedent insight into Bazooka's mineral potential. The interpretation of this updated drillhole database led to a cohesive 3D model which has facilitated drill targeting for the upcoming drill program at Bazooka Property.
New Outlook on Bazooka's Geology
GoldSpot delineated mineralizing fluid pathways in the 3D model using structural, geochemical and alteration insights from compiled drillhole data. Panels of prospectivity trend E-W dipping steeply to the north within the Cadillac-Larder Lake Shear Zone (CLLSZ), a 150m wide corridor of schistose, carbonate-chlorite-talc altered ultramafic rocks. The CLLSZ describes a Z-shape asymmetric drag fold in the historic Bazooka Mine area (Figure 1). Local flexures such as this Z-fold commonly localize significant mineralization in the Abitibi.
Figure 1: Bazooka project claim location (black outline), along the Cadillac Larder Lake Fault zone, in the Abitibi Greenstone Belt, and historic gold mines (yellow stars).
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GoldSpot applied advanced statistics on the compiled Bazooka drillhole database. Conditional probabilities revealed that quartz stockwork zones and carbonate zones are the best gold prospectivity indicators at Bazooka. These alteration zones were modelled (Figure 2) to provide control on the targeting process.
Figure 2: Prospective Hydrothermal Zones at Bazooka.
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Drill Targets
GoldSpot and Opawica generated gold targets using a "Smart Targeting" approach of knowledge- and AI data-driven methods. The AI data analysis trains machine learning algorithms to predict the presence of gold, using both numeric and interpreted layers on a 5 m x 5 m x 5m grid cell stack of layers. The results have outlined 25 zones of high-priority, drill-ready targets with additional exploration drill-targets outside the core Bazooka Mine area (Figure 3).
Figure 3: Gold Targeting at the Bazooka project.
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Qualified Person
The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 -- Standards of Disclosure for Mineral Projects, and reviewed and approved by Ludovic Bigot, professional geologist (OGQ - P.GEO No. 01655), a qualified person as defined by NI 43-101 guidelines.
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.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec and in Newfoundland and Labrador. The Company's management has a track record of discovery and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
For further information please contact:
Denis Laviolette
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: investors@goldspot.ca
Cautionary Statement on Forward-Looking Information
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy 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 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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