Serus Legal (formerly Support Legal US) assisted VerAI Discoveries Inc (VerAI) on a definitive earn-in agreement granting Pampa Metals Corp (Pampa) exploration rights over mining blocks in Chile and access to artificial intelligence technology for mineral exploration.
The eight copper and gold blocks, covering 18,700 hectares in northern Chile, were identified by VerAI using its AI technology and high-resolution geophysics data, which generated a series of exploration targets across the blocks.
The Agreement grants Pampa the right to explore VerAI’s block and to earn up to a 75% interest in those which it selects for further activity. Upon reaching a 51% interest, Pampa will form a joint-venture company with VerAI earning the option to acquire a further 24% (to 75%) by completing a NI-43-101 compliant Preliminary Economic Assessment over the following 2 years.
VerAI is a Boston-based AI and technology company that generates high-probability mining portfolios in select jurisdictions. In prioritizing the discovery of minerals required for a sustainable future, VerAI uses a proven innovative ‘Artificial Intelligence Targeting Platform’ that detects concealed mineral deposits in covered terrain, while systematically improving the probabilities for successful discoveries. It then partners with leading exploration companies, such as Pampa, on the further exploration and development of these mineral deposits.
Pampa is a Canadian company listed on the Vancouver, Frankfurt, and OTC stock exchanges, which owns a highly prospective 62,000-hectare portfolio of copper and gold projects located along proven mineral belts in Chile.
Yair Frastai, CEO of VerAI commented: “This opportunity grants Pampa access to our properties, and our AI technologies, to explore for mineral deposits in a highly prospective part of Chile. We’ve been very impressed by Serus Legal’s work on this transaction which involved a number of contracts, including the definitive earn-in agreement. Their effective support was a great asset to the transaction. I am certain that Serus Legal will assist with any Latin America jurisdictions that we operate in.”
Peter Finan, Managing Partner of Serus Legal, said: “This was an important transaction for us and one which required our team to work bilingually across different jurisdictions. The signing of the agreement marks an important milestone for VerAI and the future of mineral exploration, and we are very pleased to have played a part in facilitating such a positive outcome.”
Serus Legal’s team was led by Peter Finan (New York) and Fionn Bowd (Perth), supported by partner Andrés Jara (Chile).
For more information, please contact one of our team or email: felix@seruslegal.com