Artificial Intelligence, News

Minerva Reports Results for DRIVER Software

Minerva Reports Results for DRIVER Software

Minerva Intelligence Inc. an artificial intelligence software company focused on building decision support tools for climate risk, mineral exploration and mining, is pleased to announce the first of what will be monthly sales results of its AI software DRIVER.

DRIVER is Minerva’s proprietary AI product developed to service the mineral exploration and mining industry by helping them better evaluate drill data to pinpoint superior drill targets, understand geometallurgical domains, and conduct more thorough, rapid, accurate 3D modeling. DRIVER combines cloud processing capabilities with Minerva’s proprietary machine learning technology to automatically evaluate the spatial continuity present in geological numeric data. DRIVER automatically creates 3D models of all aspects of the dataset within a matter of minutes, and automatically identifies and catalogues the important zones of interest. These insights are incredibly valuable for exploration, metallurgy, environmental protection, and mining.

After years of development, DRIVER has been transformed from an internal tool for geological consulting projects into a first-of-its-kind, highly scalable cloud-based SaaS product. DRIVER software is licensed on an annual recurring basis, allowing Minerva to build and maintain customer relationships as well as a reliable revenue stream. Minerva offers three license levels for end-user clients of varying size, as well as an upgradable limited-term Proof-of-Concept license.

DRIVER Results

April

YTD

Demonstrations

18

58

    Declined

0

5

    Purchased Proof-of-Concept (POC)

2

6

    Straight to License

1

2

    In discussion

20

29

POC – Converted to License

1

1

POC – Not Converted

1

1

Total Signed Licenses

3

8

Reaction to DRIVER within the mining and exploration community has been overwhelmingly positive. One DRIVER client in particular has been effusive in his praise: “We have been very impressed by Minerva’s DRIVER software,” said Jon Hill, Jaguar Mining’s Vice-President of Exploration. “The autonomous geological modelling technologies offered by DRIVER are game-changing for many aspects of the mining value chain. In DRIVER, we can produce 3D model realisations of all aspects of our drilling datasets in virtual real-time, bringing us unheard-of benefits for dynamic drill targeting and comprehensive geological deposit understanding. DRIVER is helping our geologists identify important geochemical zones in 3D, and then interactively test the relationships between those zones to help guide our decisions in the field.”

Mr. Hill continued, “We’ll be using DRIVER for all of our upcoming projects to model everything from multi-element geochemistry, geotechnical information, and material properties. Basically, all our drilling data is going to feed into DRIVER, and we’re excited to see the insights for exploration, geometallurgy and ESG reporting.”

Minerva CEO Scott Tillman is gratified by the widescale embrace of DRIVER in the industry. “The team at Minerva has been working on building the ultimate block modelling software for years, and by listening to the needs of our clients, we have built an incredible piece of technology that truly revolutionizes the mining value chain,” said Mr. Tillman. “I’m grateful to the incredibly talented team who built DRIVER and look forward to much more success in the future.”

Cautionary Note Regarding Forward-Looking Statements

Forward Looking Information: This news release includes certain information that may be deemed “forward-looking information”. Forward-looking information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the availability of financing to the Company are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

For more information visit Manlitics B2BTechresearchsGlobalmartek

Previous ArticleNext Article