Clean energy metals explorer Earth AI says it has discovered six new mineral prospects containing tungsten, cobalt and gold across its tenements in Australia.
The company identified the prospects by using a proprietary artificial intelligence (AI) technology, which has proven effective in detecting and locating various mineral deposits, the company said this week.
In 2023, Earth AI made its first discovery of a greenfield molybdenum deposit using its AI tool. Last year, the firm also uncovered one of the largest palladium mineral systems in New South Wales, Australia.
Earth AI plans to conduct further assessments to evaluate the feasibility of mining operations at the newly discovered sites. These areas show significant concentrations of tungsten, cobalt and gold.
At the Kooranjie project in New South Wales, high-grade samples revealed up to 0.26% tungsten, 23.6 parts per million silver, 0.052% molybdenum and 0.044% tin.
In the Northern Territory, the Elkedra project demonstrated promising results, with up to 0.39% cobalt, 1.39% copper, and 0.685 gram per tonne gold.
Earth AI is set to begin a preliminary drilling program in May to further investigate these findings and refine geological models for future exploration.
The unlisted company raised $20 million (C$28.6 million) in January through a Series B funding round backed by venture capital firms Alpaca, Cantos Ventures and Sparkwave Capital in San Francisco, Tamarack Global of Greenwich, Conn. and Overmatch in Dallas.
Founded in 2017, the company takes a novel approach to mineral exploration by combining AI-powered discovery software with proprietary drilling technology. This allows it to identify mineral prospects, validate and delineate the scale of deposits more quickly and cost-effectively than traditional methods, the company says.
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