GoldSpot Discoveries Corp. and Margaux Resources collaborate on new targets

"We are very pleased with the overwhelming interest from investors and to be able to drill at our flagship Cassiar Gold property. Our 2020 exploration program launched in August, and we are very excited with the potential to expand and explore the known mineralization at the Taurus Deposit," said Marco Roque, CEO of Margaux.

GoldSpot Discoveries Corp. was engaged by Margaux Resources Ltd. in May 2020 to apply proprietary machine learning techniques within a strong geoscientific framework to help identify and rank drill targets at the Taurus Property of the historic Cassiar Gold Camp.

GoldSpot has been working closely with Margaux's technical team to analyze all available geological data and create high quality multivariate ranked drill targets in and around the Taurus bulk-tonnage gold deposit (NI 43-101 resource estimated 1M oz at 1.43 g/t Au, National Instrument 43-101 Technical Report on the Cassiar Gold Property, Scott Zelligan, P.Geo., September 10, 2019), as well as several exciting exploration and conceptual targets across the northern portion of Margaux's claim package for the drill campaign which began on August 10th, 2020. 

In collaboration with Margaux, GoldSpot has integrated and reinterpreted various datasets (geochemical, geophysical, geological) to provide a cohesive and uniform geoscientific interpretation which has facilitated drill targeting for the upcoming drill program at Taurus. These targets were evaluated and underpinned by new understanding gained from GoldSpot Chief Geologist, Lindsay Hall, during her site visit in July. "I am very struck by the incredible upside potential of this historically proven gold-rich property. Each day on site I was introduced to another highly prospective area."

A mineralized quartz vein hosted in altered basalt (Photo 1) was identified last week in the first of GoldSpot's high-priority target areas to be ground-truthed by the Margaux field team. GoldSpot's conceptual target combined geophysical, geochemical and geologic data and insights to detect the most prospective parts of this large land package. This vein is less than 2 km from the Taurus bulk-tonnage gold deposit. 

Photo 1: Quartz vein in strongly iron-carbonate altered basalt at target area identified through GoldSpot target generation process.

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"Our team has worked hard to advance the Cassiar Project on the technical front in preparation for drilling, and we look forward to delivering a safe and successful program," said Kaesy Gladwin, Margaux's VP Exploration.

The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and reviewed and approved by Lindsay Hall, professional geoscientist (APGO No. 0891), a Qualified Person as defined by NI 43-101 guidelines.