- Minerva Intelligence (TSXV:MVAI) has signed a contract for service provision with mining company White Gold Corp (TSXV:WGO)
- White Gold will use Minerva’s artificial intelligence (AI) technology at its JP Ross, Vertigo, and Titan properties
- Using Minerva’s AI, White Gold will be able to explore its numerous claims in the Yukon more effectively and efficiently
- White Gold shares are up 9 per cent at $0.58 per share with a market cap of $72 million
- Minerva’s share price remains steady, trading for 7 cents per share with a market cap of $2.9 million
Minerva Intelligence (TSXV:MVAI) has signed a contract for service provision with mining company White Gold Corp (TSXV:WGO).
White Gold owns a portfolio of over 22,000 quartz claims across 35 properties, covering over 439,000 hectares. This represents over 40 per cent of the Yukon’s White Gold District.
The mining company plans to implement Minerva’s artificial intelligence (AI) solutions at its JP Ross, Vertigo, and Titan properties. White Gold has already intersected high-grade gold deposits at all three of these projects.
Using Minerva’s AI, White Gold will be able to explore these claims more effectively and efficiently.
Minerva’s cognitive AI applications can accomplish many tasks, including identifying multi-element zones in WGO’s data. These are typically too time-consuming and complex to identify by conventional means.
The technology can also analyse the zones, and compare identified exploration vectors to past and present mines all over the world. The AI then short-lists the comparisons that are most similar to WGO’s targets, which can then serve as reliable models. White Gold geologists will be able to use those models to build their drilling strategies.
White Gold’s CTO, Shawn Ryan, expressed the mining company’s excitement for the new insights that Minerva will provide.
“By using Minerva’s cognitive AI to identify the geochemical relationships between various structures, we can essentially get an unbiased second opinion to augment our own exploration efforts… and at a price that’s about the cost of a single RAB hole,” he said.
Minerva’s CEO, Scott Tillman, discussed the opportunities presented by the contract, which may lead to further prospects in future.
“We are thrilled to be working with White Gold in the exploration space, furthering our strategy of applying our technology to the mining and geohazard sectors. While this is the first phase of the contract, we are optimistic that it will showcase the vast scope of what our technology can do.
Mining and geohazards represent a significant opportunity for our technology to help in the exploration process, as well as risk analysis. This contract further validates our belief that there is a real need and demand for what Minerva’s software can offer,” he concluded.
Minerva Intelligence (MVAI) share price remains steady, trading for 7 cents per share, as of 11:39am EST.
Meanwhile, White Gold Corp (WGO) shares are up 9 per cent at $0.58 per share.