CanadaEnergy and utilities2020 – ongoingNew Found Gold
AI-supported drill targeting at the Queensway project
New Found Gold's first Queensway drill hole hit 19 metres of 92.86 g/t gold on targets supported by GoldSpot's AI
Problem
New Found Gold, a junior explorer, had to choose where to place its first drill holes on the Queensway property near Gander, Newfoundland.
Approach
The company used exploration targeting supported by GoldSpot Discoveries' artificial intelligence technology. GoldSpot had invested $750,000 in New Found Gold for shares and royalties.
Results
Takeaway
The result came from one hole, and the article does not show how much the AI contributed to it. GoldSpot was also an investor in the company.
Categories
- Size
- Small business
- Industry
- Energy and utilities
- Business function
- IT and R&DProduction and quality
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Vendor solution
- Evidence
- Press reporting
Sources
Source summaries
The article reports the first drill hole at Queensway, which returned 19 metres of 92.86 g/t gold. It says the hole was found through targeting supported by GoldSpot's AI and notes GoldSpot's $750,000 investment in the company.
Full details are in the original sources.
