The Future of Mining is Here - Q1 2021 - GoldSpot Discoveries
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The Future of Mining is Here.
Q1 2021
1
Peak Discovery & Big Data Problems
Ore deposit discovery rates
are DECREASING, and
exploration spending has
peaked.
ENORMOUS AMOUNTS
of data are present, and the
data deluge worsens as more
new technologies and
instruments come online.
2
BIG Data Solutions
A B C
Machine Learning Machine Learning
Mineral deposits form processes derived products support
for a reason (geology). geological data to exploration (e.g., new
discover patterns. exploration regions)
3
Adding Value to Mining
The World Economic Forum has classified mining technologies into four main
categories. These areas have the potential to add more than $315 billion of
additional value to the mining industry.
Automation, Robotics, Digitally Enabled Integrated Enterprise, Next-Generation
and Operational Workforce Platforms and Analytics and Decision
Hardware Ecosystems Support
• Autonomous • IO/OT convergence • Advanced Analytics
• Connected
operations and • Asset cybersecurity and Simulation
workers
robotics • Integrated sourcing, Modelling
• Remote
• 3D printing data exchange, • Artificial
operations centre
• Smart sensors commerce Intelligence
Total value at stake Total value at stake Total value at stake Total value at stake
$90 billion $162 billion $52 billion $11 billion
Source: Digital Transformation Initiative, Mining and Metals Industry, World Economic Forum, January 2017
4
Next-Generation Analytics and Decision Support
Multivariate data analysis and AI, guided by geoscience expertise.
Exploration
Smart Targets
55
Putting Geoscience Data to Work
Geological models and interpretations are built from the ground up, eliminating as much
bias as possible. Targets are identified with both domain expertise and AI, allowing for
clear interpretability of the final targets.
The Data The Algorithms Smart Targets
Mineral Domain expertise
Targets identified with
Occurrences +
high potential for
Faults Regression
mineralization
Clustering
Geology
Bayesian Probability
Geochemistry Decision Trees
Geophysics Neural Networks
Satellite Imagery Deep Learning
NLP
Topography
OCR
Spatial Data Ensemble Modelling
6
GoldSpot: Globally, Any Resource
GoldSpot works with industry leaders to identify new mineral exploration targets, to develop new
methodology, and to invest strategically in small-cap mineral exploration companies.
Past & Current
Clients
Project Experience
Silver 47 Gold 79
107.87
Ag 196.97
Au
Copper 29 Nickel 28
63.55
Cu 58.69
Ni
Lead 82 Zinc 30
207.2
Pb 65.38
Zn
Palladium 46 Platinum 78
106.42
Pd 195.09
Pt
7
Client Testimonials
“GoldSpot has produced a very high- "GoldSpot and Yamana Gold recently " We are very excited to be partners
quality 3D geological model of the completed a machine learning collaboration in with GoldSpot, their approach to
Jerritt Canyon district which provides the area surrounding the El Penon mine site exploration using leading edge
an excellent foundation for continued using extensive, multidisciplinary, geological, technology has not only allowed us to
exploration. We look forward to geophysical and geochemical datasets. The validate targets, but has provided us
drilling the priority targets derived by study was successful in identifying known with fresh ideas and new concepts.
GoldSpot through their detailed mineralized areas in the mine in blind tests GoldSpot is helping us to embrace
assessment (AI techniques) of the and is now playing a significant role in new technologies.“
data. The management of Jerritt aggressive ongoing exploration efforts.
Canyon Gold looks forward to future GoldSpot was able to create a predictive Ramón Barúa, CFO of Hochschild
collaboration with GoldSpot in the lithological map for covered areas that is Mining
continued exploration and particularly useful for prioritizing drill targets.
development of the Jerritt Canyon The highly collaborative approach
district” demonstrated by the GoldSpot team
contributed greatly to the quality of the final
Jamie Lavigne, VP Exploration of product.“
Sprott Mining
Henry Marsden, Senior Vice President,
Exploration
8
Geology Meets Data Science
At the forefront of advanced technologies, we have an evolving suite of
services. At our core, all our services and technology solutions are focused
on turning your geological data into Smart Targets and advanced
geological modelling most likely to lead to discovery.
The team comprises of over 35 subject-matter experts covering geology to
data science.
GoldSpot Expertise
Resource Estimation &
Image Analytics Geophysics
Modelling
Structural Geology Field Geology Services Geochemical Interpretation
9
Case Study Regional Scale Targeting Abitibi, Quebec Greenfields prospectivity mapping for gold
GoldSpot Prospectivity Workflow
Knowledge
Raw data Geological model Machine-learning Smart Targets
algorithm
Phase I Phase II Phase III Phase IV
11Phase I & II: Data Cleaning
88 Variables
determined
Each variable
converted into
Outcrops Diamond Drill Regional Lake, Till &
Geological Map
(n=94,510) Holes River Sediment grid point data
(1:50,000 scale)
(n = 67,329) Geochemistry of different
(n=67,750)
00
types
Electromagnetic Structural Data Gold Occurrences,
Map Lines Prospects & Deposits
(n=53,870) & Points (n=1,572)
(n=6,001)
12Phase III: Machine Learning Model Selection
1 Establish a training set of data points
(deposits vs barren)
2 Test exploration vectors on the
training set and rank their importance
3 Select best suited machine-learning
methods and optimizing parameters
4 Create machine learning models
5
Apply machine learning solutions and
create prospectivity estimate over the
AOI
13Phase VI: Model in Production
Results are based on a Prospectivity score
A high score means there are significant
variables that are correlated to gold
86% of existing deposits identified, plus
new target properties
GoldSpot Scale: 1:1,000,000 Date: Sep. 30-16
PROJECT
Quebec – Canada Projection: UTM 17N GIS: Data Miners
Gold Prospectivity
Target Generation Datum: NAD 1983 Source: SIGEOM
14Efficient Exploration Spending Using
Machine Learning Prospectivity
86% of the existing gold
deposits in the Abitibi identified,
but only 4% of the total
surface area required, and
creating additional
target generation
Narrowing the
exploration search space
significantly
reduces exploration
time and costs.
15Case Study
Near-Mine
Exploration
Northeastern Ontario
Argentina
Newfoundland
Brownfields prospectivity
mapping for gold
16Phase I: Data Clean up and Management
• Drill hole logs (RC,DDH, etc)
• Drill hole assays
• Structural Data
• Geophysical Data
• (Litho)geochemical data
• Multispectral Data
17Phase I: Data Clean up and Management
• Assess and rank data based on
relevance
• Extract and refine data
• Import into Leapfrog Geo
• Clean and homogenize DDH logging
database
• Declustering data
• Leveling of different survey types (e.g.
geophysical, geochemical)
18Phase II: Interpreting Geoscientific Data
Interpreting geophysical data Vectoring alteration through statistical analysis
• Perform traditional
geoscientific investigative
work
• Highlight which variables
Geological modeling Combining numerical and lithological models control the distribution
and grades of the deposit
• Combine geological data
and interpretations in the
2D and 3D space
19Phase III: Machine Learning
• Integrate all relevant data sets into a n-
dimensional space
• Explore and quantify the different
correlations, trends and relationships
between the different variables
• Predict zones with high mineral potential
Big data Target
Attributes
Machine-learning
algorithm
20Phase IV: Target Generation and Validation
Evaluation of all targets
generated using
- Geological modelling
- Geochemical data analysis
- Geophysical interpretation
- Machine learning algorithms
Compare and rank all
targets
Issue recommendations for
exploration and a
prospectivity map
21Case Study examples
AI in the Mining
Value Chain
Machine learning to
deliver automation
and operational
efficiencies from
exploration to mining
22Improved Maps For Regional Exploration
A combination of domain expertise & supervised learning techniques
Original Geological Additional Data Final Geological
Map Multispectral Data Map
Magnetic Data Radiometric Data
23Drill Targets From Improved Maps
Drillhole #1 NFG-19-01: 19m of 92.86 gpt Au (1,764.34 gram-meters)
Original Outdated Additional Data GoldSpot Deep
Geological Map Magnetic & EM survey (VTEM) over 225 Learning Bedrock Map
layers
Domain Expertise
Sector knowledge
Machine learning
Field Validation
24Resources Other
3% 3%
3D Modelling
>40
5%
Geochemistry
5% Remote
Sensing
22%
Targeting
8%
Mapping Computer
Vision
R&D Products in
11%
16%
Geophysics
Inversion
14%
GIS
Development
and Production
13%Automated Data Extraction from Photography and
Downhole Imagery
A Production-Ready Research Success
26LithoLens Applied to Historic Core Photos
27LithoLens – Geotechnical Logging
Original Measured
Intact Downhole imagery are processed to extract
the degree of fracturing, for geotechnical and
geological 3D modelling of faults.
Broken Intact Broken
Broken
28Televiewer Fracture Orientation
Downhole imagery are processed to
extract fracture angles, for
geotechnical and geological 3D
modelling.
Original Identified Original
Shown: ATV data 0˚ marker on ‘wrapped’
downhole image
29Technical Team: Geoscience and Data Science
Lindsay Hall, M.Sc., P.Geo. Vincent Dubé-Bourgeois, M.Sc.
Chief Geologist Chief Executive Officer & Director
Chris MacInnis, P.Geo. Véronique Bouzaglou, Ph.D.
Senior Geologist Data Scientist
Sarane Sterckx, M.Sc. Christophe Azevedo
Geochemist Geologist
Shervin Azad, M.Sc., P.Geo.
Mathieu Bourassa
Group Head of Applied
Junior Geologist
Data Science & Senior Geophysicist
Anand Vemparala, M.Sc. Vivien Janvier, Ph.D., P.Geo.
Data Scientist Structural and Modelling Geologist
Mireille Pelletier, M.Sc., P.Geo. Brenda Sharp, M.Sc., P.Geo.
Senior Geologist Chief Geophysicist
30Technical Team: Geoscience and Data Science
Peter McIntyre, P.Geo. Shawn Hood, Ph.D., M.Sc., P.Geo.
Senior Geologist Chief Technology Officer
Ludovic Bigot, M.Sc. P.Geo. Matthew Bodnar, M.Sc..
Senior Geologist Senior Geologist
Britt Bluemel, M.Sc. Pierre de Tudert, M.Sc., P.Geo.
Senior Geochemist Geologist
Louis Beaupre, P.Eng. Frédéric Courchesne, M.Sc.
Geological Engineer Data Scientist
Javiera Álvarez
Database Administrator McLean Trott
Geologist
Anand Vemparala, M.Sc. Michael Cain, P.Eng.
Data Scientist Senior Geophysicist
31Management & Board
Denis Laviolette | Executive Chairman & President James Dendle | Independent Director
Over 10 years of experience in exploration, mine operations, and capital markets. P.Geo, with ten years of global experience in both the private sector and in
Worked in Northern Ontario (Timmins, Kirkland Lake and Red Lake), Norway and consultancy services. Currently serves as the VP, Geology & Investor Relations at Triple
Ghana and took on a diverse array of tasks, including grass roots exploration, Flag Precious Metals Corp., a streaming and royalty company. Broad background in
start-up mine management, and advanced mine operations. Worked as a estimating and auditing resources and reserves, multi-disciplinary due diligence and
Mining Analyst with Pinetree Capital Ltd. BSc Earth Sciences (Geology) from technical studies BSc in Applied Geology (1st Class Honours) and a MSc in Mining
Brock University. Geology (Distinction) from the University of Exeter, Camborne School of Mines, and is a
Chartered Geologist of the Geological Society of London.
Vincent Dubé-Bourgeois | CEO & Director Gerry Feldman | Independent Director
Worked for the Ontario Geological Survey (OGS) and Noront Resources Ltd. MSc Managing Partner of DNTW Toronto LLP, brings 35 years of experience in advising
project consisted of describing and interpreting the geochemistry and both private and public companies on their acquisition, divestiture and tax strategies.
geodynamic setting of the volcanic rocks hosting the gold-rich VMS Lalor Extensive experience in a broad range of sectors and mandates. Holds and has held
deposit, Snow Lake, Manitoba. BSc in Geology from the University of Ottawa. Senior Officer and Director positions in several companies that are listed on various
stock exchanges
Cejay Kim | Chief Business Officer Jay Sujir | Independent Director
Previously served as Chief Investment Officer at a private resource merchant Over 30 years of experience acting for mining and other natural resource companies
bank. Worked in a senior capacity at ReQuest Equities, a merchant bank in the and is a member of the British Columbia Advisory Committee of the TSX Venture
junior resource sector supported by the KCR Fund, a $100 million venture Exchange. Independent business advisor to the mining industry, and a lawyer and
backed by Marin Katusa, Doug Casey, and Rick Rule. BA in Economics from the Partner in Farris, Vaughan, Wills & Murphy LLP’s Mining and Securities groups. Served
University of Calgary, MBA in Global Asset and Wealth Management from Simon as, and is currently a Director of several junior exploration and mining companies,
Fraser University, a CFA charterholder, and a member of the Calgary CFA Society. including Leagold Mining, Red Eagle Mining and Excelsior Mining Corp.
Shawn Hood| Chief Technology Officer
Binh Quach | Chief Financial Officer
P.Geo Economic Geology with over 14 years of experience. M.Sc. Characterized the
Chartered Professional Accountant with over 20 years experience working for both
structure, geochemistry, and geochronology of the Minto Cu-Ag-Au mine, Yukon, and
public and private companies. Previously, the Controller of Pinetree Capital Ltd for 14
B.Sc. Hons. distinguished a basin transition formation and structural overprint at the
years. Currently, the Controller of ThreeD Capital Inc.
Howard’s Pass Pb-Zn deposit, Yukon. A broad base of previous exploration and mine
geologist roles ranging across open pit, underground, brownfields and greenfields
projects in Canada, Australia, and Mongolia
32Summary
33Monetization Strategy
CONSULTANCY SERVICES INVESTMENTS & ROYALTIES
Examples Examples
• Hochschild Mining • New Found Gold Corp
• McEwen Mining • Tristar Gold Inc
• Sprott Mining • Group Ten Metals Inc
• Yamana Gold • AEX Gold Inc
• Gran Colombia Gold • NV Gold Corporation
• Vale • Cassiar Gold
• Engage producers & advanced stage • Invest in junior exploration companies
companies in cash for service contracts • Junior engages GoldSpot to incorporate
• Consultancy revenue covers all AI into its narrative and generate targets
overheard and research & development • In some cases, GoldSpot acquires royalty
• Validates technology for the market and on project
ensures first mover advantage • GoldSpot is building a portfolio of equities
• Every project product refinement & new & royalties for its discovery objective
product creation
34Royalty Portfolio
~0.5% NSR
• The next big Canadian gold belt in discovery
phase. Over 100 km of strike length on the JBP
and Appleton linears
• Knob deposit contains a historical resource of
97,000 ounces gold at 16 g/t
0.5 – 1% NSR
• A 250,00 acre land package proximal to the
successful New Found Gold project.
• Drilling program to commence spring 2021
utililzing GoldSpot’s smart targets.
35Royalty Portfolio
0.5 – 2.5% NSR 0.5% NSR 0.5% NSR Red Lake
• Kenwest project acquired • Primary focus is • Land package adjacent to
from Goldcorp and is acquiring land in the Great Bear Resources,
comprised of 32 patented Kraaipan Greenstone whose discoveries are
mining claims and 10 belt, home to South situated in volcanic
mining licenses of Africa’s premier gold structures with dilation,
occupation covering 599 district folds, and fold axis along
hectares • Substantial gold values D2 structures
• 19,387 m drilled (104 quoting surface rock • Data surveys indicate
diamond drill holes), chip samples: 50 m proper structural setting
including 53.7 kg/t AU over averaging 21.1 g/t, 50 m and mafic contacts
0.55 m averaging 8.62 g/t, 100 comparable to
m averaging 2.93 g/t neighboring properties
36GoldSpot Capital Structure
Ownership Structure
Palisades Goldcorp
Capital Structure as of Sept. 30, 2020* 14%
Shares Outstanding 94.7M Other Management
37% & Employees
Broker Warrants 0M
14%
Options 7.09M
Fully Diluted 101.8M
Cash & Portfolio $16.2M
Eric Sprott
Debt Outstanding N/A 10%
Rob McEwen
1% US Global &
Hoschschild Triple Flag Frank Holmes
7% 8% 8%
*December 31, 2020 Year End Financials expected in April 2021
37INNOVATION
LONG-TERM More data. Smarter machines.
We continuously evolve our machine learning
VISION:
algorithms to improve our outcomes.
Walk the Talk.
We invest in companies to drill our targets.
Next Generation Technology.
We constantly explore the latest mining
technologies to generate more data and stay one
step ahead of the curve.
Consulting, technology, and
investment
We use the data analytics and AI toolbox to improve
operational efficiencies, de-risk resource and reserve
addition, and lower exploration costs.
38Investors don’t need
another exploration
gamble...
They need a new way
to play the mining
space.Appendix
40GoldSpot’s Dedication to R&D is Recognized
Across Both Geological and Data Sciences
Vector drives excellence and
Metal Earth, through MERC, is on a
leadership in Canada’s knowledge,
mission to conduct and promote
creation, and use of artificial
cutting-edge, field-based,
intelligence to foster economic
collaborative research on mineral
growth and improve the lives of
deposits and their environments
Canadians
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