Finding a new copper deposit is less about luck and more about managing a very expensive, very high-stakes game of Battleship. For junior mining companies, the wrong guess can burn millions and sink the project. ExploreTech, a San Diego startup founded by Stanford PhD geoscientists, is betting that the right guess can be turned into a repeatable software service.
Their pitch is straightforward: feed historical data, geophysical surveys, and field observations into their proprietary AI models to generate a probability map. The highest-scoring squares become the drill targets.
The Nevada proof point
ExploreTech’s most public validation comes from its work with Giant Mining Corp at the Majuba Hill copper-silver-gold project in Nevada. In January 2025, Giant Mining announced it was partnering with ExploreTech to apply AI-driven drill targeting [TheNewswire.com, 2025]. By November, the company reported that drilling had "intersected ExploreTech-predicted mineralization" [Giant Mining Corp, 2025]. The partnership was renewed for the 2026 season [TheNewswire.com, 2026].
This is the core of ExploreTech’s business model: acting as a high-tech consultancy for early-stage mineral exploration. Other early clients include Prismo Metals and Reyna Silver [ExploreTech, March 2024] [ExploreTech, January 2024].
The academic wedge
Co-founders Alex and Michael Miltenberger developed the underlying AI technology during their PhD work in geophysics at Stanford [Giant Mining Corp, 2025]. ExploreTech packages this expertise into a suite of software tools, including targeting solutions called Inverter and Driller, and a central documentation hub called the ET Engine [ExploreTech, June 2024] [ExploreTech, retrieved 2026].
| Company | Key Differentiator | Notable Backing | Public Traction Example |
|---|---|---|---|
| ExploreTech | AI drill targeting from Stanford geophysics PhDs; integrated software/service model. | Y Combinator | Multi-year engagement with Giant Mining Corp at Majuba Hill. |
| KoBold Metals | Full-stack exploration company using AI to discover and own deposits. | Bill Gates, Breakthrough Energy Ventures | Major discovery at Mingomba deposit. |
| Earth AI | AI for greenfield mineral exploration; also operates exploration projects. | - | Focus on discovery of new deposits for critical minerals. |
The market of anxious juniors
The tailwind for ExploreTech is the global scramble for critical minerals required for the energy transition. This creates a ripe market among junior mining companies, who do the early, high-risk exploration work.
ExploreTech’s challenge is scaling its consultative, project-based model. Each engagement is deeply custom, relying on a client’s unique dataset and geological context.
Where the geology gets tricky
- The platform risk. ExploreTech’s success hinges on its proprietary models. If a larger competitor with deeper pockets replicates the approach, the technical moat could erode.
- The client concentration risk. While they have several named partners, the multi-year deal with Giant Mining Corp represents a significant portion of their publicly visible traction.
- The funding question. The company is seed-stage and backed by Y Combinator, but the size of its war chest is not public.
For a junior miner budgeting a drill campaign, the math ExploreTech must prove is simple. A single diamond drill hole can cost between $150,000 and $500,000. If their software can increase the probability of a hit, it effectively saves the cost of several dry holes per campaign.
ExploreTech isn’t trying to beat the lone prospector with a pickaxe. The incumbent it must displace is the traditional consulting geologist. To win, ExploreTech needs to prove that its algorithm’s finger points more accurately, more consistently, and for less money. The renewed contract in Nevada is a start, but the real discovery will be a repeatable business model that works as reliably as their code.
Sources
- [ExploreTech, retrieved 2026] ExploreTech Website | https://exploretech.ai/
- [ExploreTech, June 2024] ExploreTech News | https://exploretech.ai/news
- [Giant Mining Corp, 2025] Giant Mining Partners with ExploreTech for Majuba Hill | https://giantminingcorp.com/news/giant-mining-exploretech-2025-majuba-hill-copper/
- [TheNewswire.com, 2025] Giant Mining and ExploreTech AI Modeling Underway | https://www.thenewswire.com/press-releases/1LYzF2oGq-giant-mining-corp-and-exploretech-ai-modeling-underway-for-the-majuba-hill-copper-deposit-in-preparation-of-2025-drill-campaign.html
- [TheNewswire.com, 2026] Giant Mining Re-engages ExploreTech for 2026 | https://www.thenewswire.com/press-releases/1LYzF2oGq-giant-mining-corp-and-exploretech-ai-modeling-underway-for-the-majuba-hill-copper-deposit-in-preparation-of-2025-drill-campaign.html
- [ExploreTech, March 2024] Partnered with Prismo Metals | https://exploretech.ai/news
- [ExploreTech, January 2024] Engaged by Reyna Silver | https://exploretech.ai/news
- [LinkedIn, retrieved 2026] Alex Miltenberger on AI in Exploration | https://www.linkedin.com/in/alex-miltenberger/
- [Prospeo, 2024] ExploreTech Overview | https://prospeo.io/c/exploretech
- [RocketReach, retrieved 2026] ExploreTech Information | https://rocketreach.co/exploretech-profile_b6d4faeec747a2ac
- [Climatebase, retrieved 2026] ExploreTech on Climatebase | https://jobs.climatebase.org/company/1140166/exploretech