Vancouver, British Columbia--(Newsfile Corp. - September 7, 2017) - ThreeD Capital IDK, an emerging Merchant Bank, announced the achievement of a major milestone by its artificial intelligence holding, Goldspot Discoveries. Goldspot Discoveries (www.goldspot.ca), in which ThreeD owns a 22% equity interest, has developed a machine-learning algorithm capable of significantly improving mineral exploration targeting.
InvestmentPitch.com has produced a "video" which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter "ThreeD" in the search box.
Cannot view this video? Visit:
http://www.investmentpitch.com/video/0_67kb5u47/ThreeD-Capital-CSEIDK-Announced-a-Major-Milestone-by-its-Artificial-Intelligence-Holding-Goldspot-Discoveries
The Goldspot Algorithm is proven to mitigate investment risk and increase the efficiency and success rate of exploration in data-rich environments. Goldspot was a finalist in the 2017 #DisruptMining Competition and took 2nd place at the 2016 Integra Gold Rush Challenge.
Goldspot consolidated over 30 years of historical remote sensing, mining, and exploration data from the Jerritt Canyon project into one comprehensive and functional geological model. The Jerritt Canyon project, majority owned by Sprott Mining Inc., through Jerritt Canyon Gold LLC, a private mid-tier gold producer in Northern Nevada, has hosted a historical resource of 12 million ounces gold with over 9 million ounces of past production. Goldspot used this geological model to identify correlations in the data layers of existing and historically mined deposits to identify target zones with the highest prospectivity potential. The caliber of the newly identified target zones resulted in Goldspot being asked to layout a preliminary drill testing program on the best targets.
Jamie Lavigne, VP Exploration for Jerritt Canyon, stated: "Goldspot has produced a very high-quality 3D geological model of the Jerritt Canyon district which provides an excellent foundation for continued exploration. We look forward to drilling the priority targets derived by Goldspot through their detailed assessment of the data. The management of Jerritt Canyon Gold looks forward to future collaboration with Goldspot in the continued exploration and development of the Jerritt Canyon district."
Denis Laviolette, Goldspot CEO, stated: "We are confident that our targets will unveil new, untapped zones to add to Jerritt's rich history. It is with great anticipation that we now move to the last phase of proof-of-concept, whereby Jerritt has agreed to commence the first 1,000-meters of a 5,000-meter drill program as soon as logistically possible."
Merchant Bank, ThreeD Capital, led by Sheldon Inwentash, creates unique long-term value for its shareholders by holding a diversified portfolio of early staged investments in disruptive technology, bio-tech and resource companies. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor, providing advisory services, mentoring and access to its network in order to earn its equity stake.
Sheldon Inwentash, Chairman and CEO of ThreeD stated: "I want to thank Denis and the Goldspot team. They have been working deeply to attain this level of acceptance of their analysis. We at ThreeD feel this new and disruptive area of Artificial Intelligence will revolutionize the approach toward mineral discovery."
The shares are trading at $0.11, and with 50.3 million outstanding, the company is capitalized at $5.5 million.
For more information, please visit the company's websites, www.threedcap.com, contact Gerry Feldman, CEO, at 416-606-7655 or email feldman@threedcap.com.
About InvestmentPitch Media
Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
