Tag Archives: Great Atlantic Resources

DIGITAL co-invests in Novamera surgical mining technology demo project

Mining equipment, Mining techniques, Sustainable mining, , , , ,

DIGITAL, Canada’s Global Innovation Cluster for digital technologies, has co-invested C$3.5 million ($2.6 million) in a data-driven surgical mining initiative led by Canadian start-up Novamera to advance its transformational Surgical Mining Technologies.

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 company says. The suite of technologies combines hardware and software to target ore. This opens new opportunities to mine stranded or uneconomic deposits that are often left unmined due to their size and shape.

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,” Dustin Angelo, Novamera CEO, says. “Technology and innovation will be key to finding new ways to get the material we desperately need while minimising 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.”

Sue Paish, CEO of DIGITAL, added: “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, Novamera says.

Novamera says it develops surgical mining technologies that pinpoint, map, navigate and extract high-value narrow vein deposits. Its 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.

Novamera surgical mining tech to be evaluated for Jaclyn Main Zone project

Environmental, Mineral project development, Mining services, Mining techniques, Precious metals, Sustainable mining, , , , , , , ,

Great Atlantic Resources’ wholly owned subsidiary, Golden Promise Mines Inc, has signed a Memorandum of Understanding (MoU) with Novamera Inc to evaluate the use of surgical mining and Novamera’s technologies as the extraction method for the Jaclyn Main Zone in central Newfoundland, Canada.

The Jaclyn Main Zone is part of the wider Golden Promise gold property, and currently contains an NI 43-101 compliant mineral resource estimate of 119,900 oz at 10.4 g/t Au in the inferred category.

The MoU sets out a series of milestones that include a conceptual surgical mining economic desktop evaluation, Guidance Tool calibration activities and a bulk sample. The parties expect to complete these activities within the next 12 months.

Novamera is a surgical mining technology company that has developed data driven hardware and software solutions that pinpoint, map, navigate and extract high value narrow vein deposits. Its precision drilling products integrate into conventional drilling equipment, enabling mining companies to quickly and sustainably mine various metal and mineral deposits that are otherwise uneconomic due to size, geometry and orientation, it says. 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, 44% less GHG emissions and 99% less water discharge.

Surgical mining is an option for bringing deposits into production that are the size and style of the Jaclyn Main Zone, according to the companies.

Given the low upfront capital costs and minimal development costs, surgical mining enables junior mining companies to get into production and generate cash flow, offering a second source of cash and relying less on the capital markets to fund strategic plans, Novamera states. In addition, the time to permits can be reduced because of the small footprint and scale of the operation.

Newfoundland is well known to Novamera, with some of its surgical mining technology tests taking place in Baie Verte at the Signal Gold-owned Romeo and Juliet deposit.

Christopher Anderson, CEO of Great Atlantic Resources, said: “We are thrilled to embark on this partnership with Novamera Inc. as we explore the potential of surgical mining and Novamera’s innovative technologies for the Jaclyn Main Zone project. This collaboration underscores our commitment to sustainable and efficient mining practices, which we believe will not only benefit our shareholders but also contribute positively to environmental preservation. We look forward to the journey ahead and the possibilities it holds for our company and the mining industry as a whole.”

Dustin Angelo, Novamera CEO, said: “We’re excited to be working with Great Atlantic and demonstrating the capabilities of surgical mining and our technologies. Mining companies like Great Atlantic are looking for solutions to bring deposits into production with a smaller environmental footprint than that of conventional mining methods. The willingness to look at a different business model will open more strategic options to generate value for their shareholders and realise positive cash flow sooner for a project.”

The Golden Promise property is located within the central Newfoundland gold belt, near the town of Badger. Multiple gold bearing quartz veins/quartz vein systems and zones of gold bearing quartz boulders are reported within the property. One such quartz vein system is the Jaclyn Main Zone.

Just last month, Novamera signed a MoU with E-Tech Resources Inc to evaluate the use of surgical mining and Novamera’s technologies as the extraction method for its Eureka project in Namibia.