Wednesday, October 09, 2019

#Mining Stock News: #SilverCrest (TSXV: $SIL.TO; NYSE: $SILV) Announces Las Chispas Vein Extensions to Depth and New Vein Discovery

#Mining Stock News: #SilverCrest (TSXV: $SIL.TO; NYSE: $SILV) Announces Las Chispas Vein Extensions to Depth and New Vein Discovery:
  • 1.6 Metres at 2,098 gpt AgEq
  • 1.2 Metres at 1,584 gpt AgEq
  • 2.5 Metres at 995 gpt AgEq


Vancouver, British Columbia - October 9, 2019 (Investorideas.com Newswire) SilverCrest Metals Inc. (TSX: SIL.TONYSE American: SILV) ("SilverCrest" or the "Company") is pleased to announce expansion drill results for three veins (Giovanni, La Blanquita and Las Chispas) and the discovery of a new vein, La Blanquita Dos, in the Las Chispas Area of the Las Chispas Project ("Las Chispas") located in the state of Sonora, Mexico. The drilling announced today has expanded the high-grade footprints of several veins in the Las Chispas Area (see attached Figures). These multi-vein results show deeper mineralization which could expand the current resource estimate. The 31 expansion drill holes released today are in addition to the 105 drill holes in the Las Chispas Area previously announced and used in the technical report titled "Technical Report and Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico", dated effective May 15, 2019, as amended July 19, 2019 (the "PEA"). The PEA is available on SEDAR ( www.sedar.com) and on the Company's website (www.silvercrestmetals.com).

Read this in full at

N. Eric Fier, CPG, P.Eng, and CEO, remarked, "While the veins in the Las Chispas Area are usually overshadowed by the exceptional high-grades of the Babicanora Area veins, these results have established the potential to expand and improve the average grade of the resources for the Las Chispas Area veins. New drill results from deeper intercepts in the Giovanni Vein are particularly impressive with an average grade of 1,084 gpt AgEq or over three times the average grade of 349 gpt AgEq used in the current Giovanni resource estimate. Drilling completed since the February 2019 resource estimate suggests that these high-grade veins extend to depth, down plunge and are open for further expansion. With the Babicanora Area in-fill drilling nearing completion, and based on success of expansion drilling in the Las Chispas Area, we will be re-allocating three drills for an additional 8,000 metres of drilling in Q4, 2019. With further success, the deeper multi-vein mineralization in the Las Chispas Area may develop into a new higher-grade source of potential production later in the mine life. With continued exploration success and over 100 drill holes in the lab being assayed, the Company looks forward to providing further updates in the coming months."

Since the Giovanni, La Blanquita and Las Chispas veins are near parallel and closely-spaced at approximately 20 to 100 metres apart, drilling of the veins can be intercepted in the same drill hole (see attached Figures) allowing for greater efficiency with repeated hole numbers in the table below.

The most significant result for this release is Hole LC19-111 (Giovanni Vein), which intersected 1.6 metres (estimated true width) grading 8.99 grams per tonne ("gpt") gold (or "Au") and 1,424.0 gpt silver (or "Ag"), or 2,098 gpt silver equivalent (or "AgEq", based on assumptions defined in table below). Also noteworthy are holes LC19-107 (Las Chispas Vein) at 1.2 metres grading 7.72 gpt Au and 1,005.0 gpt Ag, or 1,584 gpt AgEq and LC19-101 (Giovanni Vein) at 2.5 metres grading 4.17 gpt Au and 642.0 gpt Ag, or 955 gpt AgEq. The following table summarizes the most significant drill intercepts (uncut, undiluted) for this release;

Giovanni Vein:


Las Chispas Vein:


La Blanquita Vein:


La Blanquita Dos Vein:

Note: All numbers are rounded. Based on a cutoff grade of 150 gpt AgEq.

* AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$17 per ounce silver and US$1,225 per ounce gold, with average metallurgical recoveries of 90% silver and 95% gold.

All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada.

Holes LC19-78 to 84, 86, 88, 90, 92, 93, 95, 97, and 102 to 104 intersected veining but were below the Company's cutoff grade of 150 gpt AgEq. Holes LC19-109 and 110 have pending assays which will be reported when compiled.

The Giovanni Vein inclusive of the La Blanquita Vein, as defined in the PEA, includes an estimated 71 drill holes with a modeled average vein true width of 2.0 metres and cut grade of 1.47 gpt Au and 239 gpt Ag, or 349 gpt AgEq over a semi-continuous mineralized length of 700 metres by 200 metres high for Giovanni and 200 meters by 100 metres for La Blanquita (see attached Figures). The seven additional drill holes announced in this release for the Giovanni Vein have a weighted average true width of 1.2 metres grading 4.78 gpt Au and 726.3 gpt Ag, or 1,084 gpt AgEq (uncut). These holes have increased the mineralized footprint of the Giovanni Vein by approximately 200 metres in length.

Previously, the La Blanquita Vein was considered to be an extension of the Giovanni Vein, but further drilling shows that these veins are independent of each other. The six additional drill holes announced in this release for the La Blanquita Vein have a weighted average true width of 0.8 metres grading 3.75 gpt Au and 245.5 gpt Ag, or 527 gpt AgEq (uncut) which is similar to the PEA resource estimate. These holes have increased the mineralized footprint of the La Blanquita Vein by approximately 100 metres in length.

The Las Chispas Vein, as defined in the PEA, has estimated 61 drill holes with a modeled average vein width (true) of 2.1 metres and cut grade of 2.39 gpt Au and 340.0 gpt Ag, or 520 gpt AgEq. The five additional drill holes announced in this release for the Las Chispas Vein have a weighted average true width of 0.8 metres grading 3.90 gpt Au and 505.8 gpt Ag, or 798 gpt AgEq (uncut). These holes show high-grade mineralization down plunge from historic workings with an increased mineralized footprint of approximately 150 metres in length.

While these new drill results for the Las Chispas Area veins suggest narrower overall widths, they also indicate higher-grade mineralization when compared with the current resource estimate for these veins. Epithermal veins typically show variable vein widths both horizontally and vertically.

Drilling of Giovanni, Las Chispas and La Blanquita veins in the Las Chispas Area has established vein continuity to depth, with down plunge interception of high-grade mineralization open to further expansion. Multi-vein in-fill drilling may connect current isolated mineralized zones which could potentially decrease conceptual development costs associated with infrastructure and result in previously stranded resources being included in the ongoing feasibility work (see PEA; Opportunities, Section 24.1).

The La Blanquita Dos Vein is a new near-surface discovery located in the hanging wall of the La Blanquita Vein. This vein is approximately 50 metres from La Blanquita and was discovered while drilling to depth for the Giovanni Vein and the Las Chispas Vein.

Several unnamed veins were intersected while drilling other Las Chispas Area veins with the following intercepts;
  • Hole LC19-85 - 0.6m grading 1.07 gpt Au and 97.0 gpt Ag, or 177 gpt AgEq;
  • Hole LC19-94 - 0.9m grading 1.82 gpt Au and 370.0 gpt Ag, or 370 gpt AgEq;
  • Hole LC19-96 - 0.5m grading 5.11 gpt Au and 0.7 gpt Ag, or 384 gpt AgEq;
  • Hole LC19-105 - 0.8m grading 1.00 gpt Au and 166.0 gpt Ag, or 241 gpt AgEq; and from the same drill hole,
  • Hole LC19-105 - 1.9m grading 0.87 gpt Au and 141.2 gpt Ag, or 206 gpt AgEq.
These unnamed vein intercepts add to the potential for further discoveries, and drills will be assigned to this area after completion of in-fill drilling of Babicanora veins for resource conversion.

There are currently 18 core drills operating at Las Chispas; 16 surface and 2 underground. This includes one rig completing process plant site condemnation, 16 rigs completing in-fill and known vein expansion holes in the Babicanora Area veins, and one rig working on new vein targets in the Las Chispas Area with two more to be re-allocated after in-fill drilling completion. Approximately 80 holes for 30,000 metres remain to be completed in 2019 of which 25 to 35 holes (8,000 metres) are for the Las Chispas Area veins. An updated resource estimate, including the Las Chispas Area veins, is expected in H1, 2020, along with the ongoing feasibility study.

The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is N. Eric Fier, CPG, P.Eng, and CEO for SilverCrest, who has reviewed and approved its contents.

ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company's current focus is on the high-grade, historic Las Chispas mining district in Sonora, Mexico. The Las Chispas Project consists of 28 mineral concessions, of which the Company has 100% ownership of where all the resources are located. SilverCrest is the first company to successfully drill-test the historic Las Chispas Project resulting in numerous discoveries. The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.

FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to: the strategic plans, timing and expectations for the Company's exploration and drilling programs of the Las Chispas Property, including construction of the Area 51 decline, metallurgical test, mineralization estimates and grades for drill intercepts, permitting for various work, and optimizing and updating the Company's resource model and preparing a feasibility study; information with respect to high grade areas and size of veins projected from underground sampling results and drilling results; and the accessibility of future mining at the Las Chispas Property. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the reliability of mineralization estimates, the conditions in general economic and financial markets; availability of skilled labour; timing and amount of expenditures related to rehabilitation and drilling programs; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the timing and content of work programs; results of exploration activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

N. Eric Fier, CPG, P.Eng
Chief Executive Officer
SilverCrest Metals Inc.

For Further Information:
SilverCrest Metals Inc.
Contact: Jacy Zerb, Investor Relations Manager
Telephone: +1 (604) 694-1730
Fax: +1 (604) 357-1313
Toll Free: 1-866-691-1730 (Canada & USA)
Email: 
info@silvercrestmetals.com
Website: 
www.silvercrestmetals.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1

SilverCrest Metals Inc. (TSXV: SIL.V; NYSE: SILV) is a featured company on Investorideas.com



Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
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#AI Stock News: VSBLTY Groupe Technologies (CSE: $VSBY.C) (OTC: $VSBGF) Receives DTC Eligibility

#AI Stock News: VSBLTY Groupe Technologies (CSE: $VSBY.C) (OTC: $VSBGF) Receives DTC Eligibility



Philadelphia, PA - October 9, 2019 (Investorideas.com Newswire) VSBLTY Groupe Technologies Corp. (the "Company" or "VSBLTY") (CSE: VSBY) (5VS.F) (VSBGF) is pleased to announce that it has received approval from the Depository Trust Company ("DTC"), making its shares DTC eligible.

DTC provides depository and book entry services, along with a settlement system for equities in the United States and across the globe. The organization is a member of the U.S. Federal Reserve System and a registered clearing agency with the U.S. Securities and Exchange Commission.


On Behalf of the Board of VSBLTY Groupe Technologies Inc.
"Jay Hutton"
CEO & Director

CONTACT:
Investor Relations
MarketSmart Communications Inc., +1 877 261-4466
info@marketsmart.ca

Linda Rosanio, 609-472-0877lrosanio@vsblty.net


About VSBLTY (www.vsblty.net)
Headquartered in Philadelphia, VSBLTY (CSE: VSBY) (5VS.F) (VSBGF) ("VSBLTY"), is the world leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS- based audience measurement and security software that uses artificial intelligence and machine learning.

LINDA ROSANIO
VSBLTY, INC
609-472-0877
LROSANIO@VSBLTY.NE

VSBLTY Groupe Technologies Corp. (CSE: VSBY) is a featured Tech / AI stock on Investorideas.com


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure: VSBLTY is a paid PR, news and social media client on Investorideas.com as of March 1, 2019  https://www.investorideas.com/About/Disclaimer.asp
Contact management and IR of each company directly regarding specific questions.
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Tuesday, October 08, 2019

#PlaybyPlay; EA (Nasdaq: $EA) and FIFA Launch Global Series on the Road, lululemon (Nasdaq: $LULU) Partners with UN for Health Development Program and DICK’s (NYSE: $DKS) to Host National Signing Day on Oct 16


#PlaybyPlay; EA (Nasdaq: $EA) and FIFA Launch Global Series on the Road, lululemon (Nasdaq: $LULU) Partners with UN for Health Development Program and DICK’s (NYSE: $DKS) to Host National Signing Day on Oct 16

Redskins Coach Jay Gruden Fired and IAAF World Championships End with US Lead



Point Roberts, WA, Delta BC,  Oct 8, 2019 - Investorideas.com, a leader in investor news and research issues today’s edition of Play by Play covering what’s new in sports headlines and recent news from publicly traded companies in the sector.

Listen to the podcast


Stocks discussed: (NasdaqGS:EA) (NasdaqGS:LULU) (NYSE:DKS)

Electronic Arts, Inc. (NasdaqGS:EA) and FIFA have announced the launch of the EA SPORTS™ FIFA 20 Global Series on The Road to the FIFA eWorld Cup. The game enables millions of players from over 60 countries to compete and boasts more than 20 league partnerships to host tournaments. FIFA Competitive Gaming Commissioner Brent Koning commented:

“The EA SPORTS FIFA 20 Global Series is the most inclusive esports competition on the planet. Anyone can become a superstar and the opportunity to do so has accelerated with the more than 20 official league partners now in the mix. This connection to global sport drives viewer intrigue, and that positions us well for surpassing last year’s 800 million minutes of EA SPORTS FIFA 19 Global Series content watched.”

lululemon Athletica Inc. (NasdaqGS:LULU) has partnered with the United Nations Foundation for an innovative program that addresses the “mental and physical health of UN development and humanitarian workers who serve on the front lines of urgent global challenges, so they can better support communities around the world”. Calvin McDonald, CEO of lululemon, explained:

“lululemon and the UN Foundation share a commitment to building community and developing collaborative solutions for some of the world’s most pressing issues. With increasing need for international humanitarian aid and peacekeeping, we want to cultivate the long-lasting benefits of mindfulness tools and sustain support for those whose mission is to serve others.”

DICK’S Sporting Goods, Inc. (NYSE:DKS) will host its second-annual "National Signing Day" on October 16. The event supports the company’s hiring efforts, wherein new “teammates” will “benefit from competitive pay, an up-to 25%-off store discount and the opportunity to work with the best sports and outdoor brands”. JP Elliott, VP of Talent, DICK'S Sporting Goods, commented:

"Our in-store teammates are the key to providing the exceptional customer service experience and insights our customers expect. At DICK'S, we want to ensure that every customer who comes into our stores feels they leave excited, confident and equipped to achieve their athletic endeavors. As we gear-up for our holiday-selling season, we plan to hire up to 8,000 new teammates who are excited to share their knowledge and love of sports with our customers."


Redskins Coach Jay Gruden Fired and IAAF World Championships End with US Lead

Washington Redskins coach Jay Gruden has been fired, according to a report from the Associated Press. The team owner made the announcement following a 33-7 loss against the New England Patriots bringing the team to an 0-5 streak to start the season. Under Gruden the team only made the playoffs on one occasion and his record with the team stands at 35-49-1. The AP quotes Redskins President Bruce Allen:

“To make a decision like this is difficult, but it was necessary. Our 0-5 start is not just disappointing. We had much different expectations for the beginning of the season. We owe it to our fans, ... the organization, the players, the coaches and their families to do everything we can to win.”

The IAAF World Championships tournament wrapped up on Sunday, October 6 with the U.S. leading on the scoreboard. The U.S. scored 14 gold and 29 medals in total, followed by Kenya and Jamaica, who finished with 11 and 12 total medals, respectively.




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About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column,  Cleantech and Climate Change , Exploring Mining,  the AI Eye .

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com  Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
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#ExploringMining #Podcast – #Mining News from (NYSE: $AEM) (NYSE: $FSM) (NYSE AMERICAN: $GORO) (TSXV: $AGG.V) (TSXV: $AZR.V)

#ExploringMining #Podcast – #Mining News from (NYSE: $AEM) (NYSE: $FSM) (NYSE AMERICAN: $GORO) (TSXV: $AGG.V) (TSXV: $AZR.V)



Point Roberts WA, Delta BC, October 8, 2019 Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE  companies plus interviews with CEO's and leading experts.

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Agnico Eagle Mines Limited (NYSE:AEM) has achieved commercial production at the firm’s Amaruq satellite deposit at the Meadowbank Complex on September 30, 2019. Agnico CEO Sean Boyd said:

"Congratulations to all of our employees at Amaruq for achieving commercial production in line with the original schedule despite ongoing challenges related to dewatering and adverse weather conditions in the second and third quarters of 2019. We would also like to thank the various government agencies and the local communities for their continued support in Nunavut. With the start of production at both Amaruq and Meliadine in 2019, the Company is well positioned to deliver on its goal of generating net free cash flow in the second half of this year. This is expected to allow us to reduce net debt and potentially increase the dividend while continuing to steadily grow our business.”

Fortuna Silver Mines Inc. (NYSE:FSM) has announced the full exercise and closing of the over-allotment option granted to the underwriters – CIBC Capital Markets, Scotiabank and BMO Capital Markets. Fortuna issued and sold the underwriters an additional $6 million USD aggregate principal amount of 4.65% senior subordinated unsecured convertible debentures pursuant to the exercise of the over-allotment option, in connection with the company’s bought deal offering that closed on October 2, 2019, for an aggregate principal amount of US$40 million 4.65% senior subordinated unsecured convertible debentures.

Gold Resource Corporation (NYSE AMERICAN:GORO) has reached commercial production levels at its Isabella Pearl gold mine, located in Mineral County, Nevada. Gold production at the site has been increasing since April 2019, when the first dore bar was produced. According to the press release, currently “2,000 ounces of monthly gold production at Isabella Pearl is expected to continue generating positive cash flow by covering operational costs at the project assuming a gold price of $1,450 per ounce”. Jason Reid, CEO and President of Gold Resource Corporation, commented:

“I am very pleased to report the Isabella Pearl mine, which broke ground and produced first dore in just ten months, has reached commercial production levels just sixteen months after breaking ground on the project in June 2018. Our team has worked extremely hard these past few months navigating the challenges of mine commissioning, managing construction contractor difficulties and the typical production ramp up of a new mine. I am very excited that during the month of September the Isabella Pearl mine moved into a phase where mining and processing rates and ore placement are now expected to generate positive cash flow on a consistent basis. This is a milestone for any mining project and should have a significant impact on the Company’s overall revenues and net income moving forward.”

African Gold Group, Inc. (TSXV:AGG) has reported the results of the company’s election of directors and an extension on its private placement. The election resulted in the nominees listed in the management proxy circular dated September 10, 2019 being re-elected as directors. Additionally, the company has received an extension from the TSX Venture Exchange with respect to the duration of its previously announced private placement to November 6, 2019.

Azarga Metals Corp. (TSXV:AZR) has completed a geophysical survey on its Unkur Copper-Silver Project in Eastern Russia, allowing a drilling program to start. An excerpt from the press release outlines the progress:

“…a geophysical contractor has now completed both a ground magnetic survey and nine induced polarization (IP) traverses, totaling 28-line kilometers at Unkur. Magnetic survey data already existed over the northwest part (representing about 20%) of the Unkur property - where all of the previous drilling and all of the current resources are located.”

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About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column,  Cleantech and Climate Change , Exploring Mining, the AI Eye .

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp and https://www.investorideas.com/About/News/Clientspecifics.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
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The #AIEye: Artificial Intelligence Innovation Alive and Well in #CostaRica - #Stocks discussed: (OTC PINK: $GTCH) (Nasdaq: $INTC) (NYSE: $G) (NYSE: $WMT) (Nasdaq: $NVDA) (Nasdaq: $MSFT)



The #AIEye: Artificial Intelligence Innovation Alive and Well in #CostaRica - #Stocks discussed: (OTC PINK: $GTCH) (Nasdaq: $INTC) (NYSE: $G) (NYSE: $WMT) (Nasdaq: $NVDA) (Nasdaq: $MSFT)



Point Roberts WA, Vancouver BC – October 8, 2019 – Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today’s special edition of The AI Eyelooking at AI deployment and development in Costa Rica. 


Picking up steam in 1997 with Intel Corporation’s (NasdaqGS:INTC) opening of a microchip factory and an $800 million USD investment, Costa Rica has since blossomed into a key tech hub in Latin America, according to an article from Nearshore Americas. But leaving the landmark Intel investment aside (the factory is now closed), the country is fostering growth through government spending in the space, high public funds devoted to education and tax-friendly technology parks that attract investors and talent from around the globe. An excerpt from the Nearshore Americas article provides a snapshot of the tech space in Costa Rica:

With a population of five million inhabitants and 51,000 square kilometers, the number of companies in the country has reached over 546 IT companies, 3,447 manufacturing (including medical components), and performed 12,281 various commercial activities by 2018. This activity generated over 300,000 jobs, according to the National Institute of Statistics and Census.

One of the major fields in the current technological revolution is artificial intelligence (AI), of which a high amount of development is occurring in Costa Rica. Intel is currently responsible for 60 percent of the country’s research and development exports, and according to a document published earlier this year, AI-equipped drones “have been deployed by Intel in Costa Rica to construct models of the forest terrain and calculate the amount of carbon being stored based on tree height, health, biomass, and other factors”. These drones are used to capture data which can be applied to solving environmental challenges.

GBT Technologies Inc., (OTC PINK:GTCH) a development-stage company developing Internet of Things (IoT) and AI-enabled mobile technology platforms, is testing its Avant! AI Virtual Agent through GBT Technologies, S.A., a private Costa Rica-based company. In an interview with Investorideas.com in August of this year, GBT’s CTO, Dr. Danny Rittman explained how the company’s relationship with its Costa Rican counterpart was fruitful and why the firm looks forward to further work in the country.

“The collaboration with GBT Technologies benefits us by working with a team of experts in the software and hardware domains. Investing in Costa Rica R&D capabilities will enable the research and development of our sophisticated milestones to be faster and of higher quality. We are looking forward to developments in Costa Rica in our future domains, including autonomous machines, EDA, IoT, wireless mesh networking and mobile technologies.”

Recently, Rittman addressed the AI space more broadly, charting its progress from fiction to reality, and outlining GBT’s scope in AI development:

“Today's AI technology is transforming how humans and machines work together. That’s why GBT is investing in the development of the next generation of intelligent technologies. Because AI has moved from science fiction to our daily lives, we are focused on meeting today’s technological challenges, and preparing for a better future. Our AI solutions target a wide variety of domains that will impact our future, among them medicine, intelligent imaging, communication, autonomous machines and robotics.

Our AI capabilities are rapidly evolve towards application's implementation, creating new horizons in the communication and medicine fields. In the upcoming year we intend to introduce a new dimension in our daily lives, which is based on our intelligent technology. Our expert agent will be able to advice humans about significant topics like medicine and business, enabling new era of humans and machines collaboration together towards a better future.”

Genpact Limited (NYSE:Gannounced plans in August to open a new finance and accounting (F&A) delivery center in Heredia, Costa Rica as part of its expanding partnership with Walmart (NYSE:WMT). As per the partnership, Genpact accelerates Walmart’s digital transformation through the former’s Cora platform, which “deliver[s] strategic business value to help companies easily implement AI”, according to Genpact Chief Digital Officer, Sanjay Srivastava. The news prompted Jorge Sequeira, Managing Director, CINDE, the economic development agency in Costa Rica, to comment:

"We would like to welcome Genpact to Costa Rica. The company's expertise in advanced technologies such as artificial intelligence, machine learning, predictive analytics, and robotics process automation nurtures and enhances Costa Rica's vision in the knowledge economy, and expands our technological capabilities to serve the world. We are confident that Costa Rica's talent, our quick learning skills, and adaptability will contribute to the success of Genpact as a leader in digital transformation to best serve its global clients."

GPU-accelerated deep learning – pioneered by NVIDIA Corporation (NasdaqGS:NVDA), who invented the GPU (graphic processing unit) in 1999 – is being leveraged in plant identification and organism classification by the Costa Rica Institute of Technology (ITRC). Specifically, the Costa Rican team “trained a convolutional neural network on about 260,000 images using two NVIDIA GeForce GPUs, the Caffe deep learning framework and cuDNN”, according to a NVIDIA blog post. Jose Mario Carranza-Rojas, a Ph.D. candidate on the ITCR team, spoke to the indispensability of NVIDIA’s solutions:

“Without this technology, it would’ve been impossible to run the network with such a big dataset. On common CPUs, it would take forever to train and our experiments would have never finished.”

Tech giant Microsoft (NasdaqGS:MSFT) has committed to supporting Costa Rica’s digital transformation through Cloud and AI technology, according to The Costa Rican Times. Microsoft Latin America President, César Cernuda, who led a delegation of Microsoft executives visiting Costa Rican President Carlos Alvarado, said:

“We have been present in Costa Rica for 24 years, we provide direct employment for more than 600 people, and we are convinced that technologies such as the Cloud and Artificial Intelligence (AI) can be a powerful force capable of creating more opportunities in the region and in Costa Rica, where the IT market is predicted to continue growing and there is an advanced innovation ecosystem.”

This was expanded upon by Ineke Geesink, General Manager of Microsoft Costa Rica:

“Microsoft's mission is to help people and businesses achieve more. The Cloud, Artificial Intelligence and the Internet of Things have the potential to amplify human potential, transforming production processes, business models, jobs and experience as human beings. This opens up many opportunities for the development of our country. Once again, we make ourselves available to the government to accompany them on the path of digital transformation.”

In a comment to Investorideas.com, GBT Technologies Costa Rica CEO, Salomon Ocon recapitulated the thrust of Costa Rica’s burgeoning AI space and foreshadowed some of the company’s future endeavors in the space in tandem with other emerging tech;

“It is no secret that artificial intelligence looks to be the major technological milestone of our generation. Years from now, the concept of a machine developing its almost human-like intelligence will be as familiar as logging in to any social media platform.

Today, GBT Technologies Costa Rica is working towards developing technology that’ll enable AI and machine learning to intertwine with our daily lives, we believe that blockchain technology and AI will bring enormous benefits to our day to day transact-ability, from buying products, services or assets to safely storing methods of payment in a digital, encrypted and highly secured form.

We will be unveiling within the next few months how this technology will work and what it will look like, but we’re eager to share this much with you so far.”




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