- Kincora Copper Limited (KCC) has signed an AU$4.5 million exploration alliance agreement with Earth AI Pty Ltd. regarding the Cundumbul Project
- Earth AI has proprietary cloud computing and integrated geological artificial intelligence review and machine learning process
- Earth AI will have management and control of daily exploration activities
- At least 1500 metres of diamond drilling and a qualifying drilling intersection resulting in a new discovery is required for the alliance
- Kincora Copper Limited (KCC) is up 22.22 per cent, trading at $0.05 per share at 1:18 p.m. ET
Kincora Copper Limited (KCC) has signed an AU$4.5 million exploration alliance agreement with Earth AI Pty Ltd. regarding the Cundumbul Project.
Earth AI has an in-house geological team, proprietary cloud computing and integrated geological artificial intelligence review and machine learning process supported by a ground field assessment approach.
Sam Spring, President and CEO of Kincora, commented,
“Earth AI has applied its proprietary cloud-based AI and machine learning technology resulting in priority targets identified for field checking. Boots on the ground reconnaissance is expected over the summer to assist in advancing and refining the drill targeting process.”
The company stated this alliance involves a co-funding model and joint technical committee, where Earth AI will have management and control of daily exploration activities.
Earth AI will also contribute AU$4.5 million in exploration expenditure across the project over a two-year period with an option to extend for a further year. At least 1500 metres of diamond drilling and a qualifying drilling intersection, resulting in a new discovery, are required for the alliance.
Kincora shared it is under no obligation to explore, develop or mine the Cundumbul Project during the alliance period. However, upon certain milestones achieved by Earth AI, it will have the option to assume operational control and buy all of the royalty tenements that overlap with the area of interest for US$1 million and a 2.00 per cent net smelter.
Kincora Copper Limited (KCC) is up 22.22 per cent, trading at $0.05 per share at 1:18 p.m. ET.