- GoldSpot Discoveries (SPOT) has signed a service agreement with Sterling Metals (SAG) for the provision of its machine learning technology
- The company will apply its technology and geoscience expertise at Sterling’s recently acquired Sail Pond project in Newfoundland
- In particular, GoldSpot will work with Sterling’s technical team to analyse geological, geochemical and geophysical data from the site
- GoldSpot Discoveries is up 5.88 per cent and is currently trading for C$0.45 per share
- Sterling Metals is up 11.63 per cent and is currently trading for $0.48 per share
GoldSpot Discoveries (SPOT) has signed a service agreement with Sterling Metals (SAG) for the provision of its machine learning technology.
Under the service agreement, GoldSpot will apply its technology and geoscience expertise at Sterling Metals’ recently acquired Sail Pond project. Sail Pond is a silver-copper-lead-zinc project located on Newfoundland’s Great Northern Peninsula.
Together with Sterling’s technical team, GoldSpot will use its technological solutions to analyse geological, geochemical and geophysical data from the Sail Pond site.
GoldSpot’s Executive Chairman and President, Denis Laviolette, commented on the company’s service agreement with Sterling Metals.
“Sail Pond is a project we are familiar with, and are excited by the potential it holds,” he said.
“To date, previous operators have performed systematic exploration and have collected a significant amount of data our team will extract significant value from,” he added.
Sterling Metals’ CEO, Mathew Wilson, stated that nearly $1.5 million has been spent on the Sail Pond project over the last three years, but there has never been a concentrated effort to put the data together.
“This potential district-sized project requires a capacity for advanced reviewing, interpretation and processing of multiple data sets in order to generate the best of several drill prospects,” he said.
“We are confident that GoldSpot’s technology will bring these targets to light and assist us in uncovering Canada’s next high-grade silver district,” he added.
GoldSpot Discoveries is up 5.88 per cent and trading for $0.45 per share, as of 2:19pm EST.
Sterling Metals is up 11.63 per cent and trading for $0.48 per share, as of 3:09pm EST.
