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(TheNewswire)
TheNewswire November 18th, 2021 - Opawica Explorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the "Company" or "Opawica") engaged the services of GoldSpot Discovery Corp. (TSXV: SPOT) (‘GoldSpot') as per the news release dated June 16, 2021, to apply proprietary machine learning techniques within a strong geoscientific framework to help identify and rank drill targets at the Bazooka Property located in the Abitibi Gold Camp.
GoldSpot has been working closely with the Opawica technical team to analyze all available geological data and create high quality multivariate ranked drill targets on the Bazooka Property.
Blake Morgan, Chief Executive Officer of Opawica stated, "The work done by GoldSpot and our Opawica team has exceeded expectations. It has revealed a large collection of High Priority targets and we plan to drill all of them!"
In collaboration with Opawica, GoldSpot has integrated and reinterpreted various datasets (geochemical, geophysical, geological) to provide a cohesive and informed geoscientific interpretation which has facilitated drill targeting for the upcoming drill program at the Bazooka Property. These targets were evaluated and underpinned by new understanding gained from GoldSpot. Structural interpretations and 3D modeling provided by GoldSpot have led to the development of an updated geological model that includes fold events, numerous lithostratigraphic units, as well as faults.
The 14 highly favourable geological drill targets identified by GoldSpot in conjunction with the Opawica technical team, were assigned individual target scores which were normalized and weighted, and then ranked in order of priority for follow up. The combination of these multiple datasets and products, as well as new interpretations outlined above, have helped GoldSpot and the Opawica technical team to arrive at an enhanced geological understanding of the area.
Derrick Strickland, P. Geo (OGQ No. 35402), is the Qualified Person for Opawica Explorations and has reviewed and approved the technical content of this news release.
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) is a technology company using artificial intelligence to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. GoldSpot works with industry leaders across all commodity and deposit types to identify new exploration targets, develop cutting-edge technologies and to strategically invest in mineral exploration companies. Our leading team of expert scientist's merge geoscience and data science to deliver bespoke solutions that save time, reduce costs and produce far more accurate results than ever before possible.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec and in Central Newfoundland and Labrador. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2021 TheNewswire - All rights reserved.
Figure 1. Location of the Mt Oxide Project, within context of Mt Isa Inlier.
Figure 1. Locality map illustrating the position of Cobre’s project areas. Green licenses are relevant tothe Proposed Transaction, dark grey licenses will be run independently by Cobre.