GoldSpot Discoveries (SPOT) has signed a service agreement with Opawica Explorations.

GoldSpot will assist in the exploration of Opawica’s projects in the Quebec Abitibi Greenstone Belt and Central Newfoundland, using GoldSpot’s proprietary technology and geoscience expertise to maximize the chances of discovery.

The engagement with Opawica is GoldSpot’s largest client engagement to date and includes the option to acquire royalties on Opawica’s projects.

Denis Laviolette, executive chairman and president of GoldSpot, commented on the exciting announcement.

“GoldSpot was born from an exhaustive pilot project generated from the decades of data collected on the Quebec Abitibi belt. As such, it is with great pleasure that we now announce our largest deal this year inclusive of additional royalty and royalty options which significantly grow our Newfoundland royalty coverage,” he remarked.

The company will use its artificial intelligence and machine learning technology to identify targets that are ready for drilling in addition to prospective areas.

In consideration for GoldSpot’s services, the company will be granted a 0.5 per cent NSR royalty or royalty option for $1 million on several of Opawica’s projects including:

• Bazooka, McWatters, and Arrowhead in Quebec and
• Chapel Island, Eclipse, Density, Mass, Enterprise, and Lil d’Espoir Lake in Newfoundland.

GoldSpot Discoveries is a technology services company in mineral exploration.

GoldSpot Discoveries Corp. (SPOT) is up 3.16 per cent, trading at $0.98 per share as of 12:41 pm ET.