NV Gold Enters Strategic Data Relationship!
NV Gold Corporation has entered into a strategic data relationship with GoldSpot Discoveries. “I am excited to build a technical relationship with GoldSpot to fully explore, for the first time, our extensive geological databases in Nevada utilizing their advanced, proprietary technology in combination with our industry recognized technical team,” commented Peter A. Ball, President and CEO of NV Gold.
“Gold Spot’s team is clearly recognized as the leader in the industry to assist companies fully evaluate and analyze their projects and/or data available, highlighting prospective targets, and yielding opportunities for new discoveries. With a robust gold market, a tight share structure, no debt, and the recently oversubscribed private placement closed on May 26th, 2020, we are excited for a busy 2020 exploration season ahead of us.”
Denis Laviolette, Executive Chairman and President of GoldSpot, said, “GoldSpot Discoveries is excited to bring our big data solution to Nevada it is the ideal data-rich environment for our team to leverage our technology and skills to unlock significant value.
Unlike other jurisdictions, Nevada explorers are not obligated to release their exploration data through state assessment requirements, and due to the robust amount of gold the State has, billions of dollars in exploration have been spent and the data essentially hoarded.
We believe we will extract a substantial number of historical datasets, which were originally collected in the 1970s through to the 2000s and interrogate them with modern techniques and technology. The data is in various states of either digital integration and/or paper file format and will require immediate digitization, homogenization and analysis.
The final database developed together by GoldSpot and NV Gold, including their technical team consisting of exploration legends, Dr. Quinton Hennigh and Dr. Odin Christensen, will have a cutting-edge advantage over other explorers in Nevada. GoldSpot and NV Gold will look to acquire highly prospective projects, which in turn GoldSpot will be rewarded royalties.”
In connection with the strategic relationship, GoldSpot and NV Gold have entered into a services agreement, pursuant to which, among other things: (i) NV Gold will grant GoldSpot a 0.5% net smelter return royalty (“NSR”) on prospects/projects identified, staked or acquired using its mineral databases.
(ii) GoldSpot will have the option to purchase a further 0.5% NSR on such identified assets derived from the mineral databases for a purchase price of CDN$1,000,000; and (iii) for a term of 18 months GoldSpot will provide technical services at market rates related to the evaluation and identification of mineral prospects within NV Golds mineral geological databases and provide technical services for exploration activities in Nevada.
