Can you tell us about the origins of VerAI Discoveries and your vision for the company?

VerAI Discoveries is a revolutionary AI-based mineral asset generator that transforms how the world discovers mineral deposits. Our company was established in 2020 with the mission to address the most significant challenge of mineral exploration, which is finding concealed mineral deposits under covered terrain. The transition to green energy requires massive amounts of metals, but the mining industry struggles to discover new resources to meet the overwhelming demand. The conventional exploration model is ineffective, uneconomical, and unscalable in vast areas of mining countries that are completely covered. Today’s success rate of exploration projects is extremely poor, with less than 1 in 1,000 deposits becoming a mine, and the performance is even lower in covered terrain. We see a US$100 billion opportunity to disrupt the industry by providing high-probability targets in underexplored covered areas. Our approach is different because we do not offer a service or sell our technology; instead, we use our technology to generate significant value by building a portfolio of mineral assets and developing them with partners. We have a very capital-efficient and scalable business model with a broad and diversified portfolio of multiple commodities in various jurisdictions.

What mining, investment, and technology experience does the team behind VerAI Discoveries have?

Our founders and core team members at VerAI Discoveries have deep roots in the Israeli Defense Intelligence and Hi-Tech domains. In the past decade, as senior executives in mineral exploration companies in Chile and the US, we have leveraged our knowledge and expertise to enhance the success rate of mineral discoveries significantly. We have led R&D programs and global field operations of multidisciplinary teams that specialized in innovative solutions to solve complex exploration problems. The strong Discovery Team at VerAI is built on the synergy between three essential pillars: data science, geoscience, and commercial expertise. All of these pillars are supported by a tier-one experienced Advisory Team and Board of Directors from the fields of academic research and the mining industry.

How does VerAI Discoveries’ Artificial Intelligence (AI) Platform detect concealed mineral deposits?

The majority of exploration companies typically seek proxies or conditions for a mineral deposit, such as favorable host rocks, structures, and alterations. However, VerAI Discoveries deploys a novel proprietary AI technology that uses tailor-made datasets and an exclusive catalog of patterns from existing economic ore bodies to identify, with a high level of probability, the location of new economically viable mineral deposits. Our AI-based discovery platform successfully targets concealed deposits of various commodities, including Cu, Mo, Zn, Au, Co, and Ni. We firmly believe that the next significant economic discoveries will be in the underexplored covered terrain, which is where we are focusing our technology and innovation efforts.

Can you tell us about your work with Pampa Metals in Chile?

Our partnership with Pampa Metals covers targets across eight property blocks that are 100% owned by VerAI Discoveries and total approximately 18,700 Ha in the Paleocene mineral belt of northern Chile. Our discovery platform has identified Cu, Au, and Ag targets that are in close proximity to the operating mines of Guanaco and El Penon in the north and the large Casualidad project in the south. Under the agreement, Pampa has the right to explore VerAI’s properties with an exclusivity period of up to 12 months, with an investment of US$500,000.