Aclara Resources Inc (TSX:ARA, OTC:ARAAF) announced on Thursday that its Chilean subsidiary, REE Uno, has been awarded a $730,000 research and innovation grant from the Chilean Economic Development Agency (CORFO).
The funding, combined with Aclara's own investment, brings the total funding for the initiative to nearly $1 million.
The project focuses on developing advanced exploration technology using artificial intelligence (AI) to analyze and interpret complex geological data, aiming to revolutionize the search for rare earth elements (REE), particularly in ionic clay deposits.
Aclara's AI system employs multi-variable machine learning models to process large datasets stored in a centralized database. These datasets include internal geological and geospatial data, as well as information from third-party sources.
By integrating this data with real-time field observations from the company’s Exploration Team, the technology can quickly identify high-potential exploration targets, reduce operational costs, and minimize environmental impacts.
“Aclara has long championed innovation and has been using AI tools for some time,” said CEO Ramón Barúa.
“The CORFO funding will allow us to increase the speed of development of a specific AI model to generate high-potential exploration targets.”
Barúa emphasized that the collaboration between Aclara’s Data Science and Exploration teams has already delivered significant results, identifying exploration targets faster and at lower costs than traditional methods.
The initiative aligns with Aclara’s strategy of leveraging AI to enhance operational efficiency and sustainability. By rapidly processing large datasets, the company aims to maintain a competitive edge in the growing rare earths sector, essential for technologies such as electric vehicles and renewable energy.