Comet Lithium Corp | TSXV: CLIC

 

Comet Lithium Collaborates With VRIFY To Reveal New Exploration Targets Using Machine Learning Technology

Press Release

Press Release

Comet Lithium Collaborates With VRIFY To Reveal New
Exploration Targets Using Machine Learning Technology

Rouyn-Noranda, Québec, Canada, March 4, 2024 – Comet Lithium Corporation (TSXV: CLIC) (FSE: 8QY) (“Comet Lithium” or the “Corporation”) is pleased to announce that it is collaborating with VRIFY Technology Inc. (“VRIFY”) to, among other things, generate targets from a proprietary machine learning algorithm. The algorithm will be trained using previously disclosed data along with other publicly available information related to the Comet Lithium properties. It will generate multiple scenarios, which will be continually refined as new data becomes available or is published in the public domain. The VRIFY machine learning tool will provide an additional layer of information to enhance Comet Lithium’s exploration database and exploration programs.

Vincent Metcalfe, the Executive Chair and CEO of Comet Lithium, commented, “We are thrilled to announce our collaboration with VRIFY, which will leverage machine learning algorithms to actively identify new exploration targets within Comet Lithium’s portfolio of properties. This innovative approach will significantly enhance the prospectivity of our properties by adding new targets to our exploration pipeline.”

The initial phase of VRIFY’s collaboration is focusing on Comet Lithium’s 100%-owned Liberty lithium property, and the initial targets generated to date by VRIFY will be presented by Comet Lithium and VRIFY on Monday, March 4, 2024, at 1:00 p.m. (eastern time) at the PDAC Convention in Toronto, Canada. The presentation will be held at VRIFY’s lounge (Booth 3321) on the Investors Exchange Floor at the Metro Toronto Convention Centre, located at 255 Front Street West, Toronto, Ontario M5V 2W6. It is expected that the algorithm will generate additional targets on Comet Lithium’s properties, including on its Liberty property, as additional work is completed on such properties and data of neighbouring properties also becomes publicly available.

VRIFY Artificial Intelligence System

VRIFY’s artificial intelligence (“AI”) targeting system uses a combination of deep learning and computer vision architectures to train predictive models with data from various exploration features like drillholes, rock geochemistry, and mineral occurrences. The approach leverages complex data relationships to predict mineral exploration targets, streamlining the process of identifying viable mineral deposits. The automation of target generation will allow the trained model to be updated quickly with new data from ongoing exploration work. By using locally trained models, VRIFY will be able to deliver prediction accuracy metrics and feature importance maps, giving true insight into exploration vectors.

The VRIFY modeling is conducted by compiling the exploration data into a gridded data space. Feature engineering steps include, geophysical standard filtering such as vertical derivatives (“FVD”), tilt angle (tilt) and other Fourier filtering. Geological information from outcrops is used to generate a probabilistic lithological map and geochemical data is interpolated using a random forest regression process. The feature engineering process is validated using statistical evaluation of the products together with visual validation. All exploration features are then compiled as entry to the VRIFY targeting algorithm. Learning examples are derived from known mineralized samples established from drillholes, surface sampling, etc.

The available learning data points are separated between training and validation sets in order to train and test the algorithm. This allows VRIFY to evaluate the performance metrics associated with the predictive modeling.

Qualified Person

Vincent Cardin-Tremblay, P. Geo (ogq #1386, PGO #3347), registered in the Provinces of Québec, and Ontario is Vice President Exploration to Comet Lithium, is a qualified person under National Instrument 43‑101 – Standards of Disclosure for Mineral Projects. He has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

About Comet Lithium Corporation

Comet Lithium is a dynamic lithium-focused exploration company active in the prolific James Bay District of Quebec. Comet Lithium’s flagship asset is its 100%-owned Liberty Property contiguous to Winsome Resources’ Adina lithium deposit, a growing high-grade lithium discovery. Comet Lithium is advancing its Liberty Property to first-ever drilling. 

Forward-Looking Statements

This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Comet Lithium, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the additional interpretation of the new targets generated by VRIFY’s; if any of the planned exploration programs, including any follow-up works to test any of the targets generated by VRIFY’s machine learning tool will occur, the timing of and results of such exploration programs, if it does so, what benefits Comet Lithium will derive from any such exploration programs,. Forward-looking information is based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Comet Lithium’s control. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions described under “Financial Instruments” and “Risk and Uncertainties” in Comet Lithium’s Annual Report for the fiscal year ended December 31, 2022, a copy of which is available on SEDAR+ at www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Comet Lithium does not intend, nor does it undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

For further information:

Comet Lithium Corporation

Vincent Metcalfe
Chairman and CEO
[email protected]
+1.514.249.9960

147 Québec Avenue (back door)
Rouyn-Noranda, Québec J9X 6M8
Email: [email protected]
Website: CometLithium.com