Axora Verified Solution for Short Term Payback
Minerva Intelligence’s DRIVER – AI-Powered Solution to Reduce Mining Drilling Costs
Axora’s ‘Verified for Short-Term Payback’ initiative brings total confidence to customers that our experts have reviewed the solution with a view to testing the ROI profile. Specifically, we review for short-term payback, defined by us as a solution that has demonstrated the ability to deliver hard cost savings that more than offset the cost of purchase and deployment within a period of 12 months or less. We insist on reviewing at least one real case study and assess the data with our expert team, if necessary speaking directly to the case study customer.
Minerva Intelligence’s DRIVER solution was our 2021 Cost Savings winner following an intense and highly competitive review and selection process. DRIVER is an AI-based solution which focusses on automated 3D modelling for decision intelligence in mining exploration. It supports mining geologists with enhanced data and insights to ensure optimal drilling patterns – this in turn can save substantial costs, significantly outweighing the costs of buying and deploying the solution itself.
Exploration in the mining industry is a very expensive process and any improvements in accuracy and efficiency have substantial benefit. Minerva confirmed that in a typical Canadian mine, the average cost of drilling a single exploratory hole is $75K-$150K (or $300-500 per metre), or, rather, for every hole not drilled, the customer can save the same amount.
DRIVER can turn raw numeric drilling data into block models and wireframes in minutes, significantly speeding up & enhancing the decision-making cycle for the geologists. This is turn allows the team to decide drilling plans much more quickly and with higher precision. The typical time window in the financing cycle is short for exploratory drilling, which creates a barrier to deep analysis, leading to occasions where data-driven decision making can be difficult, leading to over-drilling or drill holes that do not intersect valuable targets.
The cloud-based SaaS-based solution allows multiple users to work on a single project simultaneously, so it greatly enhances transparency and collaboration within teams. In one case study, a Canadian gold mine, DRIVER was used to identify a multi-element alteration halo around the primary gold zone. Using the DRIVER wireframes, the team of geologists were able to confidently locate several optimal drilling targets for the summer exploration period. They engaged DRIVER and within a matter of weeks they were able to improve their yield and accuracy. Short-term payback was seen within weeks in the form of excellent mineralized intersections. With the savings gained by only drilling necessary holes, DRIVER delivered an ROI of several times the solution cost.
Axora is confident that Minerva Intelligence can demonstrate strong payback profiles with DRIVER in a range of industries and scenarios.
You can see this solution in our marketplace here.