Legacy uses AI to discover platinum in Australia

Legacy Minerals (ASX: LGM) says it’s deployed artificial intelligence software to discover platinum group elements (PGE) and nickel-copper-iron sulphides on the Fontenoy project in New South Wales, Australia.

Diamond drillhole EFO7D cut 34 metres grading 0.5 gram PGE including 10 metres at 1.2 grams PGE per tonne, 0.2% nickel and 891 parts per million copper from 388 metres down-hole, the company said on Monday. The PGE component includes 10 metres at 0.89 gram palladium, 0.19 gram platinum and 0.1 gram gold, it said.

“The key driver of this discovery is the implementation of artificial intelligence through our alliance partner Earth AI,” Legacy Minerals CEO and managing director Christopher Byrne said in a release. “This is the first confirmed discovery of magmatic-related nickel-copper sulphide mineralisation in the 700 km long ultramafic belt that hosts the Fontenoy project.”

Explorers and miners are increasingly turning to artificial intelligence to process big loads of data, streamline operations for increased productivity and spot opportunities to innovate and lower costs. Proponents predict AI will be indispensable to help the industry ramp up the supply of battery metals for the global energy transition to fight climate change. Electric vehicles, for example, need roughly four times as much copper as traditional automobiles.

Faster, cheaper

San Francisco-based Earth AI says it has made mineral deposit discoveries in two out of three tries compared with an industry average of 0.5%. Its predictive technology, trained on remote sensing, geophysical and exploration data, spots nickel, copper, zinc and vanadium prospects more than 100 times faster and cost-effectively than traditional methods, the company says.