British Columbia’s startup VRIFY formally launched its AI-assisted mineral discovery platform at the world’s largest mining conference on Monday.
The news follows the tech developer securing C$12.5 million in Series B funding last week, bringing its total in excess of C$30 million.
“DORA” utilizes artificial intelligence to analyze vast geological datasets and identify new mineral deposits. Several companies, such as Southern Cross Gold Consolidated Ltd (CVE: SXGC) (OTCMKTS: MWSNF) (FRA: MV3) and Cartier Resources Inc (CVE: ECR) (OTCMKTS: ECRFF), have started using it to assist with exploration.
“I need to thank each and every one of the 170 mining companies we’ve partnered with—including the five that joined this past week—for their willingness to embrace new technologies and work together to elevate our industry,” Founder Steve de Jong said on social media a few days ago.
The company says DORA can transform complex data into visually pleasing, interactive presentations to enlighten prospectors about what they may be missing in their exploration strategies.
De Jong feels that nobody can definitively predict the future of the AI-driven mineral exploration industry, but believes those who are willing to take the road less travelled will be rewarded.
“If we can demonstrate that AI has the potential to unlock a new era of discovery it will have a profound impact on the industry, and catalyze a new wave of investment in the sector like we’ve never seen before,” he said last year.
Read more: Equinox Gold acquires Calibre Mining for $2.6B
Read more: Calibre Mining beats updated gold production guidance with 242,487 ounces
A ‘ChatGPT for geology,’ but is it really the 1st?
VRIFY is marketing its AI-powered mining software as the world’s first, but this isn’t the first time that the power of artificial intelligence-integrated exploration software has been harnessed.
Others like VerAI Discoveries and KoBold Metals have pioneered AI-augmented prospecting software of their own.
However, the launch of DORA at this year’s Prospectors & Developers Association of Canada convention is unarguably a significant milestone for machine learning-powered mineral exploration.
VRIFY says that it will be aggressively expanding its workforce over the next year to keep up with client demand and conduct additional research.
The startup, founded in 2017 to provide 3D mapping solutions to mining companies, announced its AI ambitions at last year’s PDAC conference.
rowan@mugglehead.com
