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June 21, 2021updated 22 Jun 2021 2:57pm

Critical Elements selects GoldSpot to apply AI at Canadian projects

The GoldSpot’s AI approach is developed to identify most efficient and cost-effective way to explore the prospective ground.

Critical Elements Lithium has selected GoldSpot Discoveries to implement machine learning solutions to uncover battery-grade materials at the lithium-tantalum projects within the Nemiscau Belt in Quebec, Canada.

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GoldSpot will apply its artificial intelligence (AI) exploration technologies and geoscience expertise on Critical Elements’ extensive property package in James Bay, Quebec.

Together with Critical Elements’ technical team, GoldSpot will study geoscience data sets to develop and refine Smart Targets at the exploration projects.

These prospective projects feature multiple lithium showings, along with nickel, copper and gold.

GoldSpot executive chairman and president Denis Laviolette said: “Significant global capital is being invested throughout the electric vehicle supply chain, which will drive demand for high-quality lithium sources.

“We are excited to work with the Critical Elements team to capitalise on their existing infrastructure and exploration potential, as well as demonstrate our advanced analytical technology.”

Through the ability to take large land packages and distil all available layers of geological information, GoldSpot’s AI approach can identify the most efficient and cost-effective way to explore the prospective ground, noted the firm.

Critical Elements CEO Jean-Sébastien Lavallée said: “We are really excited to be able to work with GoldSpot to apply their exclusive technology to generate targets on our projects from geological and geochemical data, as well as more recent geophysical data acquired during our last survey.

“Resumption of exploration work on our different projects covering more than 700km² aiming to show the full potential is part of the development plan put in place by our team to become a large and responsible large lithium producer.”

GoldSpot expects its Smart Targets and advanced geological modelling to provide accurate results, save time, and reduce costs.

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How is AI impacting the future of Mining?

The mining industry is under more pressure than ever to increase efficiency. There is also a strong focus on ensuring safety and sustainability within mines. AI can address many of these challenges and inefficiencies through several key technologies in the value chain, including computer vision, smart robots, data science, and machine learning. GlobalData’s AI in Mining Thematic Research report provides you with an in-depth lens into the impact of artificial intelligence on the industry. We highlight both the challenges and opportunities associated with the innovative technology now, and in the future. Our report also covers:
  • Major players and companies
  • Market size and growth forecasts
  • Case studies
  • Sector scorecard
Mining firms are expected to spend $218m on AI platforms worldwide by 2024. This is up from $76m in 2019, representing a CAGR of 23.4%. Ensure your company is proactive in adapting strategies and processes to help you remain competitive. Download the full report to get ahead of the competition.
by GlobalData
Enter your details here to receive your free Report.

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