Gran Colombia Gold has contracted GoldSpot Discoveries’ team of expert geologists and data scientists to use artificial intelligence (AI) for identifying new drilling targets at its Segovia operations in Antioquia, Colombia.

By leveraging machine learning, Gran Colombia aims to reduce exploration risk and increase discovery rates at Segovia.

GoldSpot will clean, unify and analyse Gran Colombia’s exploration data at Segovia by using its geoscience and machine science expertise.

The company will then produce both 2D and 3D targets for the forthcoming exploration programme at Segovia.

It will also deliver newly constructed lithological and mineralisation models, new geophysical products by reprocessing the raw data and new structural interpretations.

Gran Colombia Gold executive chairman Serafino Iacono said: “Our exploration work at Segovia to-date has centred on our three core mining operations to build our mineral resource and reserve statement and to support our mine optimisation and planning.

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“We are excited to work with GoldSpot to leverage their machine learning capabilities to increase our potential for success in expanding our mineral reserves through the accelerated drilling campaign we will be launching this year with the proceeds from our recently completed financing.”

Earlier this month, Gran Colombia closed a C$20m ($14.96m) private placement offering on a bought deal basis led by GMP Securities and Scotiabank.

“We aim to address the big data challenge in mining.”

The company proposes to use the net proceeds of the placement to accelerate its ongoing exploration programmes at Segovia.

Iacono said that the funds can be used to carry out the equivalent of five years of drilling within the next two years.

Goldspot Discoveries CEO and president Denis Laviolette said: “We are excited to work with Gran Colombia at its Segovia Operations as we aim to address the big data challenge in mining.”