EXPLORATION TECHNOLOGY
Goldspot works on more AI discoveries
GoldSpot Discoveries Corp based in Toronto is a technology services company in mineral exploration . “ We are a leading team of expert scientists who merge geoscience and data science to deliver bespoke solutions that transform the mineral discovery process . In the race to make discoveries , GoldSpot produces Smart Targets and advanced geological modelling that saves times , reduces costs and provides accurate results . It says it leverages artificial intelligence to reduce capital risk while working to increase efficiencies and success rates in resource exploration and investment .”
GoldSpot says it combines proprietary technology with traditional domain expertise , offering a front-toback service solution to its partners . GoldSpot ’ s LithoLens , a proprietary core imaging technology , automatically and consistently examines old core images to create fresh and accurate geological logs . This proprietary tool turns old core photos into intact , georeferenced core images and uses deep learning algorithms to enhance the images and extract valuable geological information .
The software platform autonomously extracts information from drill core images and video , outcrop photography , and within-borehole sensors . Secure cloud-based data processing and machine learning creates large and valuable new datasets from underutilised imagery and video data .
“ In geophysics , working with existing historical data and new mathematical mapping techniques , we can extract and interpolate 3D models from what had previously been purely 2D data sets . We are able to perform constrained and unconstrained inversion from magnetic and gravity data , and other geophysical techniques . Our diversity of experience and internally developed tools allow us to achieve these insights using a range of input data , rather than only certain forms of existing data .”
GoldSpot recently announced the deployment of its proprietary inversion process , MinusOne , on Northstar Gold Corp ’ s Miller Gold project . This inversion along with machine learning work has aided Northstar to identify known lithologies . “ Geophysical data is one of the most utilised datasets in the exploration industry . It was a natural evolution for GoldSpot to develop its own inversion tool ,” remarked Denis Laviolette , Executive Chairman and President of GoldSpot Discoveries . “ At GoldSpot , we believe geophysical data should be used differently to help generate targets , and inversion is an incredible way geophysical data can create value . Our MinusOne platform allows us to invert gravity and magnetic in a constrained and unconstrained way .”
MinusOne , GoldSpot ’ s inversion technology , will invert geophysical data using a deterministic and stochastic inversion methods . With this technology , GoldSpot ’ s team also applies a stochastic clustering method to provide probabilistic framework that helps to analyse uncertainty . Given its ability to help solve geological problems , GoldSpot anticipates the commercialisation of MinusOne as a potential additional revenue stream .
Newfoundland has been a major focus area and success for Goldspot . Exploits Discovery Corp has released its first high priority exploration target generated by GoldSpot AI technology . The newly identified Schooner Fault is a secondary fault structure that trends parallel to the mineralised Appleton fault which hosts New Found Gold Corp ’ s ( NFGC ) discovery hole . Some 6.5 km of strike length of the Schooner Fault is contained within Exploits ’ Mount Peyton Gold Project area . The target lies within Davidsville Group of siliciclastic sediments with coincident historically sampled Au in tills over intersecting faults , similar to the geology of the Keats Zone , which lies 3.5 km to the east . Ground work , including geophysics , prospecting , and trenching is being planned for immediate follow up .
Michael Collins , President and Chief Executive Officer of Exploits , commented : “ Exploits is very pleased to present these GoldSpot generated targets on the Schooner Fault . We have a very large land package with numerous existing high value gold
targets . The Exploits team is working to build a comprehensive database with prospecting and geophysical data acquisition . GoldSpot ’ s technical team , Exploits Subzone knowledge base and AI process will continue to drive targeting and discovery faster and better than our exploration peers .”
Laviolette from GoldSpot said : “ GoldSpot believes that Newfoundland is a highly prospective area for exploration . The Schooner Fault is potentially in the same geological environment , has the same trend , and is near GoldSpots and NFGC ' s very prolific Appleton and JBP Fault zones . The GoldSpot method of identifying these potential mineralised structures is creating prospective areas for our clients we feel is prime areas for recommended follow up work . GoldSpot continues to be the premier geological and data partner in Newfoundland . We believe Exploits stands an excellent chance to make a significant discovery along the Schooner fault as well as on other project areas in its claim portfolio in the region .”
GoldSpot was also engaged by Sterling Metals Corp to apply its proprietary machine learning technology and geoscience expertise on Sterling ' s recently acquired Sail Pond silver-copper-lead-zinc project located on the Great Northern Peninsula of Newfoundland . GoldSpot will work closely with the technical team at Sterling to analyse geological , geochemical , and geophysical data .
Denis Laviolette said : “ GoldSpot continues its banner year of working by working with top tier exploration companies with proven management teams . Sail Pond is a project we are familiar with and are excited by the potential it holds . To date , previous operators have performed systematic exploration and have collected a significant amount of data our team will extract significant value from .”
Mathew Wilson , Chief Executive Officer of Sterling Metals , commented : “ We look forward to working with the GoldSpot team on the Sail Pond project . Over the last three years there has been nearly C $ 1.5 million spent on this project but never has there been a concentrated effort to put the data together . This
FEBRUARY 2021 | International Mining 15