Resource World Magazine

56 www.resourceworld.com J U N E / J U L Y 2 0 1 9 MINING Goldspot Discoveries using AI to find mineral deposits Not your usual mineral explorer, Goldspot Discoveries Inc. [SPOT-TSXV] and its geol- ogists and data scientists utilize artificial intelligence to minimize exploration risk and increase discovery rates by leveraging machine learning. The technology company was recently hired by Gran Colombia Gold Corp. [GCM-TSX; TPRFF-OTCQX] to use machine learning to identify new drilling targets at its Segovia operations, located in the Segovia-Remedios mining district of Antioquia in Colombia. Gran Colombia, following a $20 million financing, is ramp - ing up its exploration plans that include using the Goldspot AI technology. In a press release, Goldspot explained that it will use its geoscience and machine science expertise to clean, unify and ana - lyze Gran Colombia's Segovia exploration data and produce both two-dimensional and three-dimensional targets for the exploration program. Goldspot will also deliver newly constructed lithological and mineralization models, new geophysical products produced through the reprocess - ing of the raw data, and new structural interpretations and models. Goldspot said it "bridges the gap" between geoscience and artificial intel- ligence by assembling and analyzing vast amounts of data such as data cleaning and digitization, interpretation and mapping, geological modelling, structural geology, geochemistry, geology and geophysics. Using the analyzed data, the Goldspot technology actually "learns" to pinpoint zones that offer the opportunities for min - eral discoveries. "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 five million ounces of gold in the last 150 years and has a library of data just waiting to be tapped," said Denis Laviolette, President and CEO of Goldspot. Laviolette added, "This partnership with Gran Colombia validates our business strategy. Our consulting work with major mining companies generates revenue to cover our G&A expenses, fuel our R&D, and demonstrate our leadership in applying machine learning to mineral exploration. This leaves our treasury intact to invest in juniors and acquire royalties in data-rich projects ripe for artificial intelligence, all while giving them access to our 25-person team. We are a most unique source of capital in a depressed space and we look forward to bringing our game-changing solutions to the market as we work with miners and explorers to rejuvenate this sector." Serafino Iacono, Executive Chairman of Gran Colombia, said, "Our explora - tion work at Segovia to date has centred on our three core mining operations to build our mineral resource and reserve statement and to support our mine opti- mization and planning. We have come to a point where we can now focus on the vast exploration potential we see in our Segovia mining title, stepping out from the exist- ing mine operations and exploring the other 24 known veins in the mining title. We are excited to work with Goldspot to leverage their machine learning capabili- ties 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." Goldspot clients already include Yamana Gold Inc. [YRI-TSX; AUY-NYSE], McEwen Mining Inc. [MUX-TSX, NYSE], Sprott Mining Inc., Hochschild Mining Plc [HOC-LSE; HCHDF-OTC] and Integra Resources Corp. [ITR-TSXV; IRRZF- OTCQX]. n

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