Highlights
- The Company will leverage KorrAI’s advanced earth observation technology in identifying mineralized outcrops across the
Nut Lake Uranium Project . - The Technology integrates artificial intelligence, machine learning, and advanced satellite imagery to find areas of interest.
- The integration of KorrAI’s Technology may potentially boost the efficiency and precision of the Company’s future exploration programs.
- The Company will hopefully benefit from KorrAI's advanced technology systems, which promises to deliver exceptionally reliable data.
KorrAI will apply its proprietary Technology on the Project to identify areas of interest for ground exploration for the Company’s 2024 exploration program. The Technology will hopefully allow the Company to be more efficient in the potential discovery of mineralized outcrops by leveraging revolutionary systems across the entire Project. Pursuant to the KorrAI Agreement, KorrAI shall provide technology solutions to the Company using geospatial imagery, modelling and survey & sensor data relevant to the natural resources sector (the "Services") under individual statement of works (each, a "Statement of Work"). Either KorrAI or the Company may terminate the KorrAI Agreement by providing written notice at any time following completion of the Services under each existing Statement of Work.
Historical drilling on the Project intersected up to 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth and high-grade samples of up to 4.36% U3O8, 53.16 oz/t Ag, 1.15% Pb and 7.0% Ni1.
KorrAI is an advanced earth observation technology company and is using advanced satellite imagery, integrated artificial intelligence, and machine learning to identify undiscovered mineralized outcrops. KorrAI’s proprietary technologies and processes fuse a variety of datasets and integrate known mineralized analogues and other internal company data to identify priority areas of interest. The exploration tool is a cost effective and systematic approach to identifying targets for prospecting follow-up over highly prospective trends and areas of interest.
About KorrAI Technologies
KorrAI is an industry pioneer in providing remote monitoring solutions aimed at reducing operational risk. By leveraging satellite and geological data alongside advanced AI technologies, KorrAI detects and analyzes features and changes in Earth systems. Their system employs a robust and quantitative approach, effectively mitigating risks associated with exploration projects.
Extension of Marketing Agreement
The Company is also pleased to announce, further to its news release on
MIC is an independent company which will, as appropriate, provide project management and consulting for an online marketing campaign, coordinate marketing actions, maintain and optimize AdWords campaigns, adapt AdWords bidding strategies, optimize AdWords ads and create and optimize landing pages (the “Marketing Services”). The promotional activity will occur in
The Company will not issue any securities to MIC as compensation for the Marketing Services. As of the date hereof, to the Company’s knowledge, MIC (including its directors and officers) does not own any securities of the Company and has an arm’s length relationship with the Company.
National Instrument 43-101 Disclosure
References
1 Source: 1978 Assessment report (number 81075) by
2Source: Reported by ValOre Metals Corp. in a Technical Report entitled “Technical Report and Resource Update For The Angilak Property,
About
On Behalf of the Board of Directors
Chief Executive Officer, Director
Telephone: +1 (778) 897-3388
Email: info@greenridge-exploration.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the project acquisition bringing a low-risk opportunity, the Company, building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; statements with respect to the provision of the Technology and Services by KorrAI under the KorrAI Agreement; the Company's anticipated exploration program at the Project; expected benefits of using the Technology and Services and the Company's partnership with KorrAI under the KorrAI Agreement; statements with respect to the provision of the Marketing Services by MIC. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
Source:
2024 GlobeNewswire, Inc., source