VANCOUVER, BC, 23rd November 2020 / CNW / – Minerva Intelligence Inc. (TSXV: MVAI) (“Minerva” or “the Company”), an artificial intelligence company specializing in knowledge development, is pleased to announce that it has entered into an agreement with Freeport Resources Inc. ( TSXV: FRI; FSE: 4XH) (Free port) for providing all components of the company’s TERRA Mining AI suite, including the company’s DRIVER, TARGET, SOLACE, and LEO solutions.
Free port recently acquired Quidum Resources and, through its wholly owned subsidiary Highlands Pacic Resources Ltd, controls the Star Mountains project in Papua New Guinea. Free port will apply Minerva’s technology to the Star Mountains project to enhance the next phases of surface and subsurface exploration of the extensive property located near the Ok Tedi mine.
Free port will use DRIVER, Minerva’s state-of-the-art AI software to analyze multi-element drilling data; OBJECTIVE to identify verifiable new drill targets using AI; SOLACE for the harmonization and standardization of large amounts of data; and LEO to quickly search through all data.
“We continue to see a growing demand for our TERRA Mining AI solutions as innovative companies like Free port actively seek technology that will make their workflow processes more efficient and insightful, “he said Scott Tillman, Chief Executive Officer of Minerva Intelligence. “The Star Mountains project reaffirms the value Minerva AI technology can bring to the mining and exploration sectors, and we look forward to seeing deep insights into these areas quickly Free port newly acquired databases. “
The data analysis comprises three studies, the first two of which are 3D studies: a DRIVER study and a K-Means study for evaluating the multi-element drilling data Free port Olgal deposit.
The main advantage of DRIVER is the ability to spatially assess all elements normally returned by modern laboratories, not just the elements of direct economic interest. The work this usually entails is too time consuming and complicated to be done by project geologists. DRIVER also compares identified geochemical exploration vectors against its database of hundreds of past and present mines around the world and identifies those most similar to the target being explored. The resulting similarity rankings can then provide reliable, explainable models on which geologists can base their exploration strategies.
The third study will be a combined 2D and 3D analysis using Minerva’s SOLACE workflow to align and standardize the available surface and drilling data from the remainder of the Star Mountains property for inclusion in the TARGET application of the Company can be included.
After completing the project Free port Receive a supplementary 3-month subscription to LEO, Minerva’s mining and exploration-focused document management software for quick and easy document search and retrieval.
For more information on Minerva’s TERRA Mining AI applications, visit:
About Minerva Intelligence Inc.
Minerva Intelligence Inc. is a knowledge development company based in Vancouver, Canadawith a branch in Darmstadt, Germany. Their proprietary evidence-based decision-making software brings the benefits of artificial intelligence technology to industries that rely on reasoning with complex technical and scientific data.
Although Minerva’s applications currently focus on geoscientific areas such as natural hazards and mineral exploration, her technology finds application in a variety of industries and areas.
Minerva’s common stock is currently listed on the TSX Venture Exchange (symbol MVAI). For more information, please visit www.minervaintelligence.com or follow Minerva on Twitter or LinkedIn.
About Freeport Resources Inc.
Freeport is a junior Canadian exploration company with a diverse portfolio of properties – the Red Rose Mine (a former producer of tungsten-gold-copper), Spanish Mountain Gold (alongside a proposed open pit gold mine) and the Q (a large, well-known fluorspar deposit ), all in British Columbia. Freeport recently acquired Quidum Resources and controls the Star Mountains project in Papua New Guinea through its wholly owned subsidiary Highlands Pacic Resources Ltd. Please visit www.freeportresources.com or contact them at the email address below for more information.
About the Star Mountains property
Star Mountains is a large copper-gold porphyry project in mining-friendly Papua New Guinea. It includes 4 tenement houses located 25 km east of the huge Ok Tedi mine. H&S Consultants Pty. Ltd. completed an initial mineral resource estimate for the Olgal deposit on the EL 1312 rental home, as per National Instrument 43-101. The currently inferred resource using a 0.3% copper cut-off grade is 210 million tonnes grading 0.4% copper and 0.4 g / t gold for 2.9 million ounces of contained gold and 1.9 billion pounds (840,000 tons) of contained copper. Taking current gold and copper prices into account, this equates to approximately 5.7 million ounces of gold or 3.8 billion pounds (1,680,000 tons) of copper.
Cautionary Note Regarding Forward-Looking Statements
Forward-Looking Information: This press release contains certain information that may be deemed “forward-looking information”. Forward-looking information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”. “Plans” or similar terminology. All information in this press release, other than information based on historical facts, including, without limitation, the availability of funds to the company, is forward-looking information that involves various risks and uncertainties. Although the company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, these expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market, or the like Terms and conditions as well as regulatory changes, delays in obtaining approvals and other risks that are here and from time to time in the by the Company with the securities regulators in Canada. Mineral exploration and development from mines is inherently a risky business. Accordingly, actual events could differ materially from those projected in the forward-looking information. Investors can find more information about the company and the risks and challenges facing our business in our ongoing disclosure documents, which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The company undertakes no obligation to update any forward-looking information except in accordance with applicable securities laws.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Minerva Intelligence Inc.
For More Information: Minerva Intelligence, Dan Vroon, Business Development Manager, +1 (604) 620-1051, [email protected];; Virtus Advisory Group, Investor Relations, +1 (416) 644-5081, [email protected];; Freeport Resources Inc., Gord Friesen, Chairman of the Board, +1 (236) 334-1660, [email protected]