DIGITAL co-invests $3.5M to advance Novamera's Surgical Mining Technologies

A new data-driven technology could change how we mine metals and critical minerals.

TORONTO, ON / ACCESSWIRE / June 26, 2024 / DIGITAL, Canada's Global Innovation Cluster, recently co-invested $3.5M in a data-driven Surgical Mining initiative led by Canadian start-up Novamera to advance its transformational Surgical Mining Technologies, which could unlock trillions in stranded deposits to help support the clean energy transition quickly and sustainably.

Novamera's AI-powered solution combines innovative new tools along with conventional drilling equipment to extract ore quickly with minimal environmental impact, 95% less waste, and at a fraction of the cost. The suite of technologies combines hardware and software to target ore, which can be likened to the leap made when laparoscopic surgery was introduced to the medical sector. This opens new opportunities to mine stranded or uneconomic deposits that are often left unmined due to their size and shape.

According to one recent report, to meet just one generation of technology to phase out fossil fuels,¹ there is a 14.6B tonne supply gap. The recent investment from DIGITAL is a testament to its commitment to advancing digital solutions in core industries, including natural resources, healthcare, and agriculture. The investment also signals a new focus on securing more raw materials to support the domestic supply of EV batteries and other clean energy sources, a crucial step in transitioning to a more sustainable future.

"We can't transition to clean energy without mining," says Dustin Angelo, Novamera CEO. "Technology and innovation will be key to finding new ways to get the material we desperately need while minimizing the impact on communities and the environment. We are dedicated to equipping the mining sector with the necessary tools to meet the growing demand for metal in a profitable, rapid, and sustainable manner."

"AI has tremendous potential to advance environmental health and support the global transition to clean energy and a net-zero future," said Sue Paish, CEO of DIGITAL. "DIGITAL is proud to co-invest alongside innovators like Novamera and support partnerships that continue to showcase the expertise and accomplishments of Canadian industry in building globally relevant AI and advancing international commercial pathways for Canadian companies."

Two industry partners, Great Atlantic Resources and Maritime Resources, based in Newfoundland, are involved in the project, which has already started and is expected to be completed in 2025. The project will showcase Novamera's enabling technologies and the Surgical Mining method's economic and smaller environmental impact.

Surgical Mining Technologies:

• Guidance Technology- The key to surgical mining is accurately targeting ore in real-time. Novamera's proprietary downhole sensor is uniquely configured to capture ~4900% more subsurface data than traditional delineation methods. This data is processed using Novamera's software, which uses algorithms, ML, and AI to determine the deposit's geometry. This is then used to calculate the optimal drilling trajectory for extraction.
• Smart Drilling System: A Positioning Control System, Course Correction Device, and Predictive Steering Technology integrate into a conventional large-diameter drill to maintain the prescribed trajectory. This reduces unplanned waste removal and maximizes ore recovery. Reverse circulation with air-lift assist is used to bring ore to the surface.

For more information, videos and images of the Surgical Mining process, please contact Theresa Quick tquick@novamerainc.com.

About Novamera

Novamera develops Surgical Mining technologies that pinpoint, map, navigate and extract high-value narrow vein deposits. Novamera's precision drilling products integrate into conventional drilling equipment, enabling mining companies to quickly and sustainably mine metal and mineral deposits that are otherwise uneconomic due to size, geometry, and orientation. The process has large-scale environmental and social impacts to support ESG targets and improve social licence, requiring a small footprint with no blasting; the solution produces 95% less waste and 44% less GHG emissions and minimal water discharge.

About DIGITAL

DIGITAL, Canada's Global Innovation Cluster for digital technologies, grows Canadian businesses through the development, adoption and deployment of Canadian-made technologies and by working with industry to develop a digitally skilled workforce to positively impact lives across our country.

We bring together businesses, academia, community and government agencies to solve some of industry and society's biggest challenges - better and faster than any single organization can do on its own. Through a powerful model that combines cross-sector collaboration, Canadian IP creation and results-based co-investment, we unlock the potential of Canadian industry to lead and succeed in the digital world.

Ahead of the curve starts here. For more information, visit www.digitalsupercluster.ca

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¹ Transition Metals Includes: Copper, Nickel, Lithium, Cobalt, Vanadium, Graphite required for just one generation of technology to phase out fossil fuels. Source: Simon P. Michaux, Associate Research Professor of Geometallurgy Unit Minerals Processing and Materials Research, Geological Survey of Finland, August 18, 2022 - Seminar: What Would It Take To Replace The Existing Fossil Fuel System?)

SOURCE: Novamera