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  • GoldSpot Discoveries Corp. proprietary approach of Artificial Intelligence (AI) and geological interpretation yields positive results in greenfields exploration;
  • Nine grab samples returned up to 17.75 g/t Au with an average of 5.41g/t Au, and also up to 7.99% Zn;
  • The new discovery borders a regional-scale shear zone, previously interpreted by GoldSpot, which opens new multi-kilometers potential along strike;
  • GoldSpot was the sole AI-company operating on the Elmer East Gold Project.

Normand Champigny, CEO of Quebec Precious Metals commented: “We appreciate the contribution of GoldSpot to the identification of this exploration target and the field work that resulted in the discovery.”

Toronto, Ontario–(Newsfile Corp. – September 17, 2020) – GoldSpot Discoveries Corp. (TSXV: SPOT) (“GoldSpot” or the “Company”) is pleased to announce that Quebec Precious Metals Corporation (“QPM”) has successfully discovered a new polymetallic gold rich vein system within one of GoldSpot’s high priority targets at the Elmer East project located in James Bay, Quebec. GoldSpot is a shareholder of QPM but does not own any direct interest in the underlying properties. The new discovery borders a regional-scale shear zone previously interpreted by GoldSpot, which opens new multi-kilometers of potential along strike.

The Lloyd showing consists of a 1 to 2 m thick SW-NE-trending shallow dipping oxidized quartz vein with various amount of sulphides (galena, sphalerite and chalcopyrite) over a distance of approximately 60 metres. No historical work was previously documented in the vicinity of the discovery. A total of 9 grab samples were collected from the vein, returning gold values ranging from 0.42 g/t Au to 17.75 g/t Au with an average 5.41 g/t Au (Table 1). Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property. The Lloyd showing are among the highest gold values of the region (cf. SIGEOM database, Ministère des Ressources Naturelles du Québec “MERN”). Silver values averaged 29.2 g/t Ag. Anomalous copper, zinc and lead were also observed with zinc values of up to 7.99% Zn. The gold-bearing vein is hosted in a weakly chloritized wacke near the contact with a polygenic conglomerate of the Wabamisk formation. Another anomalous quartz vein grading at 0.33 g/t Au was sampled 400 m east of the initial discovery, demonstrating the continuity of the new gold system along the interpreted WSW-ESE-trending regional-scale shear zone.

One strength of the GoldSpot Smart approach of AI and geological methods to exploration is the ability to take large land packages and distill all available geological information to identify the most efficient and cost-effective way to explore prospective terrane. As is standard in GoldSpot’s workflow, most of all available public geoscience data was compiled and synthesized for Elmer East property and surrounding areas. Structural, geological, metamorphism, hydrothermal footprint and geophysical components were all analysed through GoldSpot’s proprietary AI tools to produce the final high-priority targets for field prospecting (Figure 1).

Figure 2: Aerial view of the Lloyd showing area.

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Figure 3: Mineralized samples at the Lloyd discovery. Sample B566106 grading at 13.55g/t Au (above), B566181 grading at 17.75g/t Au (below). See Table 1.

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Figure 4: Existing MERN’s Geological map (up) and the updated GoldSpot’s Geological map (down) with the Elmer East block claims in dashed line.

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The structural reinterpretation, generated using both the 2020 QPM’s high-resolution aeromagnetic survey and the regional public aeromagnetic survey, highlights subvertical ductile shear systems, which border and transect volcano-sedimentary belts; and second and third order structures appear imbricated and flank isoclinal folds in the Annabelle block claim.

Structural complexity is widely recognized in Archean gold deposits, including in the James Bay, as a major contributor to the gold-bearing vein development (Dube and Mercier-Langevin, 2015; Fontaine, 2020). Following the initial interpretation, GoldSpot produced a map index of the perturbation of the azimuth of ductile structures, including the 1st and 2nd order shears and the foliation, which represent the structural complexity of the area. Results highlight an intense structural complexity in the northwestern part of the Annabelle claim, indicating dominant shearing, folding and intersection of both (Figure 5).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64040

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