Aclara secures funding from CORFO for AI project

Combined with Aclara’s own investment, the initiative will have total funding of approximately US$ 1 million.

This initiative harnesses advanced multi-variable machine learning models to analyse and interpret complex data, revolutionising rare earth element (REE) exploration, particularly associated with ionic clay deposits. The algorithms are designed to process large volumes of geological and geospatial data generated both internally as well as acquired from third parties, all of which is stored and organised within a centralised database developed by Aclara.

This AI system enables real-time analysis of the databases, while simultaneously integrating field data developed by Aclara’s Exploration Team. The combination of powerful data processing, adjusted by geological interpretation capabilities, allows the Company to thoroughly evaluate large areas of land for potential REE mineralisation hosted in ionic clays. By rapidly processing very large datasets, this technology aims to identify high potential exploration targets while optimising operational efficiency, reducing costs, and minimising environmental impact.

Ramón Barúa, Aclara’s CEO, stated:

“Aclara has long championed innovation and has been using AI tools for some time. We are convinced that the early adoption of AI is critical to developing a sustainable competitive advantage. The CORFO funding will allow us to increase the speed of development of a specific AI model to generate high potential exploration targets. Although Aclara already owns and is currently developing two world-class ionic clay deposits, the Company remains committed to greenfield exploration to add new assets to its portfolio. Currently, our Data Science Team collaborates closely with our Exploration Team, to advance the in-house developed AI models. These models have already successfully identified and defined exploration targets within timeframes and costs that were unthinkable without these high-tech tools. We are very excited about the possibilities that open-up to Aclara through the use of AI technologies.”

Read the article online at: https://www.globalminingreview.com/technology-digitalisation/22112024/aclara-secures-funding-from-corfo-for-ai-project/