Mining Innovation: Revolutionizing the Industry with Mineral Finder Technology (MFT™)
Clip with founder Geoff Wade on the Metal Steel Manufacturing Podcast
Revolutionary MFT™ Mining Innovation A.I. Technology Slashes Exploration Time from Years to 12 Weeks.
The mining industry has long been a cornerstone of economic growth and development, providing essential resources for various sectors.
Traditional mining methods can be costly, time-consuming, and have significant environmental impacts.
The Traditional Mining Exploration Process
Preliminary survey - The mining company initially studies the potential mining site using geologic and geophysical data. This can take a few weeks to a few months.
Surface mapping and sampling - The company then sends exploration teams to the site to conduct surface mapping, soil sampling, and rock sampling to determine if any minerals are present. This stage can take several months to a year or more, depending on the size and complexity of the site.
Exploratory boreholes - The company may drill exploratory boreholes to obtain core samples deep beneath the earth's surface if initial sampling results are positive. This stage can take several months to a year, depending on the number and depth of the boreholes.
Core analysis - The core samples are analyzed to determine the mineral content and the deposit's characteristics, including the mineralization's thickness and depth. This can take several weeks to a few months, depending on the number of samples and the complexity of the analysis.
Further exploration work - If the exploration results are promising, the company may conduct other exploration work, such as additional drilling, trenching, or geophysical surveys, to better define the extent and quality of the deposit. This stage can take several months to a year or more, depending on the scope of the work.
The decision to move forward - Based on the exploration results, the company may decide to move forward with the development of the mine or abandon the project if the mineral content or economics of the deposit are not favorable. This decision can take several months to a year, depending on the complexity of the analysis and the due diligence process.
The introduction of Mineral Finder Technology (MFT™) has the potential to revolutionize the mining industry, offering a more efficient and cost-effective alternative to traditional exploration techniques.
What is Mineral Finder Technology?
Mineral Finder Technology (MFT™) is a cutting-edge mining innovation combining satellite spectroscopy, field sensing, and advanced artificial intelligence (A.I.) to accurately detect and map subsurface mineral deposits.
This technology dramatically reduces the time, cost, and environmental impact associated with traditional exploration methods while increasing the accuracy of ore body detection and mapping.
Mining Innovation: The MFT™ Process
Simple steps video:
The MFT™ process begins with acquiring and analyzing multispectral satellite data to identify subsurface mineralization in large areas.
This is followed by applying field methods such as Field Sensing by Polarization of Electromagnetic Field (FSPEF) and Vertical Sounding by Electro-Resonance (VERS) to obtain more detailed information about subsurface mineral deposits.
Finally, MFT™'s A.I. algorithms merge data from all sources to generate a highly accurate 3D map of the ore body, significantly improving the decision-making process in mining operations.
Benefits of Mineral Finder Technology (MFT™)
Reduced costs - MFT™ can reduce exploration costs by up to 80% compared to traditional methods, making it an attractive investment for mining companies seeking to minimize their financial risks.
Increased efficiency - By utilizing satellite data and advanced A.I. algorithms, MFT™ can rapidly identify and map subsurface mineral deposits, reducing the time for exploration from years to months.
Improved accuracy - Integrating multiple data sources and advanced A.I. algorithms allows MFT™ to generate more accurate ore body models. This leads to better decision-making and increased success rates in mining operations.
Environmental benefits - MFT™ reduces the need for invasive drilling and extensive field surveys, minimizing the environmental impact of exploration activities.
Enhanced adaptability - MFT™ can be used for various minerals and deposits, making it a versatile solution for mining companies operating in diverse environments.
Significant Cost Savings:
One of the most compelling benefits of MFT™ is its ability to reduce exploration costs dramatically.
Traditional mining exploration methods can be time-consuming and expensive, with costs often running into millions of dollars.
MFT™, on the other hand, has been shown to reduce exploration expenses by up to 80%.
This significant cost reduction makes it an attractive option for mining companies looking to minimize financial risks while maximizing returns on investment.
Increased Efficiency and Speed:
Traditional exploration methods can take years to complete, often involving extensive field surveys and drilling campaigns.
MFT™ has demonstrated the ability to reduce exploration timescales from years to months thanks to its satellite data and A.I. algorithms.
This increased efficiency allows mining companies to make more informed decisions quickly, leading to faster project development and a competitive edge in the market.
Improved Accuracy:
MFT™'s integration of multiple data sources and advanced A.I. algorithms has proven highly effective in producing accurate ore body models.
This improved accuracy increases the success rates of mining operations and reduces the risk of costly errors.
The precise mapping provided by MFT™ can help optimize mine planning, leading to more efficient extraction of valuable minerals.
Environmental Benefits:
MFT has demonstrated a more environmentally friendly approach to mining exploration by reducing the need for invasive drilling and extensive field surveys.
This reduced environmental impact aligns with the growing global emphasis on sustainable resource extraction, making MFT an attractive option for mining companies looking to minimize their ecological footprint.
Mexico Case Study Highlights Using MFT™
The U.S. exploration company acquired a 37,000-acre concession block in Mexico, with a history of mining and exploration dating back to the Spanish Conquistadors.
Modern exploration began in the late 1990s, and the company has since completed three drilling campaigns.
MFT™ Technology (satellite imagery and spectroscopy) was contracted to identify additional anomalies and confirm the presence of ore bodies to include an ore resource estimate.
The goal was to reduce exploratory risk and investment and quickly certify the reserves.
Previously, the client had focused on gold exploration and conducted soil and chip sample surveys.
The application of MFT™ technology led to the identification of 27 gold anomalies.
The satellite imagery was accurate and provided valuable information on the most significant exploratory interest areas.
Ground geophysics accurately predicted the veins and dip direction, consistent with drilling results and interpretations.
The complete implementation of MFT™ Technology allowed the company to define the priority area and depths of the drilling, accelerating the process of obtaining the certification of reserves (about one million troy ounces of gold) according to Canadian norms (N.I. 43-101 standards).
The Numbers from The Mexico Case Study
This was achieved with an investment of $1,000,000 in 12 weeks, compared to the initial investment of $10 million and five years without definitive results.
As a result, the value of the mine is estimated to be between $150 million and $250 million, with the reserves' value at $1.5 billion.
The MFT technology provided time-saving and investment of certification by 80% and up to 94% accuracy.
Ernst & Young on Mining Today
Summary from https://www.ey.com/en_ca/mining-metals/top-three-ways-canadian-mining-can-lead-decarbonization
The mining and metals industry in Canada has the potential to lead the way in decarbonization and supply critical minerals for a low-carbon world.
To achieve this, stakeholders in the industry need to adopt a new approach that include