Company Updates From Management – Thu 12 Mar, 2020

TriStar Gold – Outlining the work with GoldSpot Discoveries to outline drill targets

I had the chance to chat with Nick Appleyard, President and CEO of TriStar Gold (TSX.V:TSG & OTCQB:TSGZF) and Denis Laviolette, President and CEO of GoldSpot Discoveries (TSX.V:SPOT). TriStar Gold is working closely with GoldSpot on defining targets at the Castelo de Sonhos Property in Brazil.

We discuss how the data from historic work and recent PEA (released in late 2018) is being used to guild the infill and exploration drill programs for this year.

If you have any follow up questions for either Nick or Denis please email me at Fleck@kereport.com.

Click here to visit the TriStar website for more information on the recent drill results and overall project.

Goldspot partners with Pacton on AI exploration at Red Lake

Goldspot Discoveries (TSXV: SPOT) announced Friday a signed service agreement with Pacton Gold (CVE: PAC) to Goldspot's A.I. and machine learning tools to evaluate and identify possible mineral and drill targets on Pacton’s Red Lake, Ontario property.  "We believe Red Lake's ground is ripe for a technological revolution" — Goldspot CEO

 Goldspot has been granted a 0.5smelter royalty on the property and the option to purchase an additional 0.5% net smelter return royalty on all metals produced from the Red Lake property for C$1 million, as well as 0.5% net smelter return royalty on all metals produced from all the current claims comprising Pacton's Australia assets in the Pilbara Craton for C$1 million.  

 "The Pacton Gold property in the historic Red Lake gold camp in North western Ontario excites us. It is the ideal district to use artificial intelligence and machine learning to find new discoveries," said Denis Laviolette, GoldSpot’s president and CEO in a media statement. "After initial screening and utilizing artificial intelligence to analyze various layers of data related to Pacton Gold's property, we have made our largest speculative bet to date." 

"We believe Red Lake's ground is ripe for a technological revolution, and this deal gives us royalty exposure to 16,630 hectares of prospective land," said Laviolette. 

Market reaction to the partnership was positive: Goldspot’s stock was up 4%, and Pacton’s stock was up on the CVE Friday afternoon.  

 

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Gran Colombia to use machine learning at Segovia operation

GoldSpot Discoveries (TSXV: SPOT) and Gran Colombia Gold (TSX: GCM) announced that they have established a partnership to use machine learning to identify new drilling targets at the Segovia operation located in the Segovia-Remedios mining district of Antioquia, northwestern Colombia.

"With the recent closing of a C$20-million private placement, Gran Colombia plans to dramatically accelerate the exploration programs at Segovia and has engaged GoldSpot to minimize exploration risk and increase discovery rates by leveraging machine learning," a press release issued by the companies reads.

According to the media brief, Goldspot will use its geoscience and machine science expertise to clean, unify and analyse Gran Colombia's Segovia exploration data and produce 2D and 3D targets for the exploration program.

Gran Colombia is looking to expand Segovia's mineral reserves through an accelerated drilling campaign

The raw data will also allow the tech company to deliver newly constructed lithological and mineralization models, new geophysical products, and new structural interpretations and models.

"We are excited to work with Gran Colombia at its Segovia operations as we aim to address the big data challenge in mining. Segovia has produced over 5 million ounces of gold in the last 150 years and has a library of data just waiting to be tapped," Denis Laviolette, CEO and President of Goldspot, said in the media statement.

Gran Colombia, which is the largest underground gold and silver producer in the South American country, said the company is eager to focus on Segovia's exploration potential, in particular that of the untouched 24 known veins in the mining title.

"We are excited to work with Goldspot to leverage their machine learning capabilities to increase our potential for success in expanding our mineral reserves through the accelerated drilling campaign we will be launching this year with the proceeds from our recently completed financing," the Canadian miner's Executive Chairman, Serafino Iacono, said in the release.

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GSSI, Gatling Exploration, GoldSpot Discoveries, and RNC Minerals make new appointments

Geophysical Survey Systems Inc. (GSSI), headquartered in New Hampshire, has hired Adam Mercer as application specialist responsible for British Columbia, Alberta and Saskatchewan. He holds a MSc in geophysics, and comes to GSSI from a major global drilling company. Jan Kesik will continue to serve eastern Canada.

The new president and CEO at Gatling Exploration of Vancouver is Nav Dhaliwal Dale Ginn has been appointed COO, and Nathan Tribble becomes VP of exploration. Both Ginn and Tribble have extensive experience on the Larder project and other Abitibi-hosted gold deposits.

Toronto-based GoldSpot Discoveries has named Frank Holmes as independent chairman. He is also holds an executive positions at U.S. Global Investors, a company that holds an about 8% interest in GoldSpot.

RNC Minerals of Toronto has made changes to its board beginning with the appointment of Paul Andre Huet as executive chairman. Scott Hand, former executive chairman, will be lead director. Warwick Morley-Jepson is joining the board and will assume the duties of chairman of the technical committee.

This article first appeared in The Canadian Mining Journal.

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