Canstar Resources has signed a deal with GoldSpot Discoveries to assist the company in identifying gold deposits at its Golden Baie project in southern Newfoundland.
GoldSpot uses machine learning to analyse geological reports and drill results to identify discoveries and minimise exploration risks.
Canstar is developing the Golden Baie project, and has "extensive drill, geochemical and geophysical datasets from 25 years of exploration campaigns and government initiatives," executive Matthieu Lapointe said.
Canstar will look to GoldSpot to identify the most promising areas for further drilling and exploration, given their experience in working with mining deposits in Newfoundland and Labrador.
Canstar has an option to acquire full ownership of the Golden Baie project over a four-year period. The company has noted more than 20 gold occurrences across the 40-kilometer project.
GoldSpot's technology works with all commodities and all deposit types. It recently signed contracts with Pretium Resources, Ranchero Gold, and Yorkton Ventures.