LithologIQ
LithologIQ is a Montreal-based mining technology company that deploys a proprietary multi-sensor mobile hyperspectral core scanner and analysis software to deliver 24-hour, expert-validated mineralogical analysis of drill core to enterprise exploration and production mining customers across North America.
- Company typePrivate
- Founded2020
- HeadquartersMontreal, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What LithologIQ does
LithologIQ is a Montreal-based mining technology company that has built a multi-sensor mobile hyperspectral core scanner and accompanying proprietary analysis software to deliver rapid mineralogical analysis of drill core. Its hardware integrates four hyperspectral cameras (VNIR 400-1000nm, SWIR 1000-2500nm, MWIR 2800-5400nm, LWIR 7500-12000nm), high-resolution color photography at 50 um/pixel, magnetic susceptibility sensing, and UV fluorescence imaging into a single unit capable of scanning up to 2,000 meters of core per 8-hour shift. The proprietary software performs instant mineral identification based on physical and chemical rock properties without requiring site-specific training data, and produces microprobe-calibrated mineral chemistry, alteration mapping, and automated Rock Quality Designation (RQD) outputs that are delivered via a web portal in 24 hours. The company targets enterprise mining customers across both exploration (Soquem, Troilus, Probe Gold) and production (Eldorado Gold, Iam Gold, Hecla, Barrick) stages, selling mobile on-site scanning services and software/data analysis solutions on a quote-based, project-priced basis, with strategic pilots backed by Quebec and Canadian government programs (Investissement Québec, DEC, PARI CNRC) and a Centech incubator lineage. The company is led by CEO Simon Lessard and CTO Philip Lypaczewski (PhD, University of Alberta), with a board that includes Newtrax founder Alexandre Cervinka and Investissement Québec's Christopher Baron, and has raised approximately $1.54M CAD in seed funding (June 2024) plus non-dilutive government contributions to scale its first mobile hyperspectral laboratory across North America.
LithologIQ firmographics
Firmographics- Name
- LithologIQ
- Legal name
- LithologIQ Inc.
- Website
- https://lithologiq.ca
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- LithologIQ is a Montreal-based mining technology company that deploys a proprietary multi-sensor mobile hyperspectral core scanner and analysis software to deliver 24-hour, expert-validated mineralogical analysis of drill core to enterprise exploration and production mining customers across North America.
- Ownership category
- akta.pro rank
LithologIQ industry classification
Industry- Product category
- Mining Technology
- NAICS
- Support Activities for Mining (2131), Support Activities for Metal Mining (213114)
- SIC
- Services-Commercial Physical & Biological Research (8731), Services-Testing Laboratories (8734), Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532), Laboratory Analytical Instruments (3826)
- akta.pro primary industry
- Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)
- akta.pro secondary industry
- Rock Drilling & Blasthole Drilling Equipment (IMAHAMAC)
Keywords
Where LithologIQ is headquartered
LocationHeadquarters
- HQ city
- Montreal
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
LithologIQ business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Hyperspectral Core Scanning Services: On-site mineralogical analysis services using mobile scanning equipment deployed at client mining sites. The company provides rapid drill core analysis with results delivered within 24 hours. Service model includes scanning, analysis, interpretation, and reporting.
- Software and Data Analysis Solutions: Proprietary software for presentation, dissemination, and manipulation of mineralogical results. Includes core logging web portal and on-premise data processing infrastructure.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | — | Enterprise service engagement - custom pricing based on project scope |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels7 records
LithologIQ product offering
Product offeringCore offering
LithologIQ provides rapid mineralogical analysis of drill core samples using a mobile multi-sensor hyperspectral scanner combined with proprietary software. The integrated system scans up to 2,000 meters of core per day and delivers expert-validated mineralogy results within 24 hours. The company deploys scanning equipment directly to client mining sites, serving exploration and production companies across North America.
Product overview
LithologIQ offers a integrated hyperspectral core scanning solution comprising three main components: the LithologIQ Core Scanner (a multisensor mobile hardware device capable of scanning up to 2000m per shift), the LithologIQ Proprietary Software (for instant mineral identification and alteration mapping), and the LithologIQ Core Logging Web Portal (for data delivery and management). The system combines advanced hyperspectral imaging (VNIR, SWIR, MWIR, LWIR), high-resolution photography, magnetic susceptibility, and UV fluorescence with AI/ML-powered analysis to deliver mineralogy results within 24 hours, replacing manual core logging with automated, workflow-compatible actionable reports.
Differentiator
Problem solved
Functional benefit
Products and services
- LithologIQ Core Scanner A multisensor mobile core scanner designed for high-speed hyperspectral acquisition (up to 2,000m per 8-hour shift) and exceptional data quality. Features 7 cameras and sensors including VNIR, SWIR, MWIR, and LWIR hyperspectral cameras (1mm/pixel), high-resolution color photography (50 um/pixel), magnetic susceptibility measurement, and UV fluorescence imaging. Capable of scanning full-core, cut-core, RC chips, and split-core samples with edge computing delivering results even with limited connectivity. Designed for mining exploration and production companies.
- Hyperspectral Core Scanning Services On-site mineralogical analysis services using mobile scanning equipment deployed directly at client mining sites. The service provides rapid drill core analysis with expert-validated results delivered within 24 hours, including scanning, analysis, interpretation, and reporting. Service includes mineral chemistry mapping, alteration scoring (0-5 scale), automatic RQD determination, grade estimation, rock hardness assessment, and 3D modeling-compatible deliverables.
Quantifiable outcome
- Scanning capacity of up to 2000 meters per day
- +5 more outcomes
Companies that use LithologIQ
Customer profileNamed customers7 records
Segments3 records
Ideal customer profiles2 records
LithologIQ technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature15 records
LithologIQ partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered supporting, flagship and major.
- CentechsupportingTechnology incubator that supported LithologIQ during the fundraising program, providing mentorship and acceleration services.
- Eldorado Gold QuébecflagshipStrategic pilot project partnership with Eldorado Gold Québec's Lamaque mine operations. Project involves scanning 10,000 meters of drill core to demonstrate economic and operational advantages of the technology. Successfully completed Phase 1 and moving to Phase 2 as part of ongoing drilling program. Nathalie Prud'homme and Jacques Simoneau from Eldorado Gold Québec have validated the technology's speed, quality results, and value for understanding lithologies and alterations.
- Groupe MISAmajorKey strategic support partner providing alignment with Quebec mining industry needs. Alain Beauséjour, Director General, stated LithologIQ is building expertise centers in Quebec with global potential. MISA is a mining innovation excellence cluster (ACCORD status since 2020) offering services in innovative projects, Martini Method for mining innovation support, Autonomous Mine, Vortex Pathway, and Expert Networks.
- Creative Destruction LabsupportingPartner organization supporting innovation development and startup acceleration in the mining technology sector.
- 48e Nord InternationalsupportingPartner organization in the Quebec/Northern innovation ecosystem supporting mining technology development.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
LithologIQ competitors and assessment
Company assessmentEmerging players
- Earth AI: Earth AI combines AI-driven mineral targeting with drilling and validation to discover critical mineral deposits. While focused upstream on exploration targeting rather than core scanning, it is an emerging player in digital mining targeting that intersects with LithologIQ's exploration-customer base.
- Newtrax Technologies: Newtrax (acquired by Sandvik) provides IoT and analytics for underground hard rock mines, deployed in over 100 sites globally. Its founder Alexandre Cervinka is a LithologIQ director, and Newtrax is thematically adjacent as a digital mining-tech provider serving the same enterprise mining customers.
Broad incumbents
- Seequent (Bentley Subsurface): Seequent, now part of Bentley Systems, offers geoscience analysis and 3D modeling software widely used in mining exploration, including compatibility with LithologIQ's deliverables. It is a broader incumbent that benefits from the same digital transformation of mining workflows that drives demand for LithologIQ's core scanning.
- CGG (Geosoft): CGG, through its Geoscience division and Geosoft/OpendTect platforms, provides geophysical and geological software and services used in mineral exploration. It is a broad incumbent in subsurface data analysis that competes for the same exploration-services wallet and integrates with the same mining data workflows.
- Imdex (REFLEX): Imdex, through its REFLEX and AMC brands, supplies downhole instrumentation, core orientation tools, and digital drilling analytics to mining customers. Its drilling-data and instrumentation portfolio overlaps with LithologIQ's positioning at the intersection of drilling and digital mineralogy.
- Motion Metrics (WEIR Motion Metrics): Motion Metrics, now part of WEIR Group, provides AI-powered sensing and analytics for mining operations including fragmentation analysis, payload monitoring, and tooth detection. LithologIQ's VP Revenue spent 12 years there, and Motion Metrics represents an established mining-tech incumbent with similar end customers in major mining houses.
Direct peers
- MinalyzeCS: MinalyzeCS provides hyperspectral core scanning and mineralogical analysis services to exploration and mining companies globally. Its offering closely mirrors LithologIQ's value proposition of rapid, non-destructive mineralogy on drill core and is a direct competitor for the same enterprise customers.
- HiSeis: HiSeis applies hyperspectral and seismic-based imaging to drill core and rock samples to deliver mineralogical and geophysical data to mining clients. It targets the same core-logging and exploration workflows as LithologIQ and competes for similar mining customer budgets.
- Veracio: Veracio (formerly Boart Longyear's precision mining division) offers digital core scanning, orientation, and geological data services to drilling programs. Its core scanning and analytical services overlap directly with LithologIQ's on-site mineralogical analysis for mining customers.
- Corescan (ALS): Corescan pioneered hyperspectral core scanning for the mining industry and was acquired by ALS Limited, the global mining services and assaying leader. It is the closest direct competitor to LithologIQ, offering similar mineralogical core imaging services to the same mining exploration and production customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
LithologIQ social profiles
Digital presenceLithologIQ financial estimates
Financial estimateRevenue estimate
Valuation estimate
LithologIQ leadership team
Management profileNumber of profiles
Profiles7 records
LithologIQ funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LithologIQ M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about LithologIQ
What does LithologIQ do?
LithologIQ provides rapid mineralogical analysis of drill core samples using a mobile multi-sensor hyperspectral scanner combined with proprietary software. The integrated system scans up to 2,000 meters of core per day and delivers expert-validated mineralogy results within 24 hours. The company deploys scanning equipment directly to client mining sites, serving exploration and production companies across North America.
Is LithologIQ a public or private company?
LithologIQ is a private company. It is classified as venture growth investor backed and is currently operating.
When was LithologIQ founded?
LithologIQ was founded in 2020. It employs 1 to 10 people.
Where is LithologIQ based?
LithologIQ is headquartered in Montreal, Canada, in the North America region.
How does LithologIQ make money?
Two revenue lines are on record. Hyperspectral Core Scanning Services are the primary driver. The others are software and Data Analysis Solutions.
Who are LithologIQ's main competitors?
Emerging players on record are Earth AI and Newtrax Technologies. Broad incumbents are Seequent (Bentley Subsurface), CGG (Geosoft), Imdex (REFLEX) and Motion Metrics (WEIR Motion Metrics). Direct peers are MinalyzeCS, HiSeis, Veracio and Corescan (ALS).
Does LithologIQ have an API?
No public API is recorded for LithologIQ.
What industry is LithologIQ in?
LithologIQ's product category is Mining Technology. Its primary akta.pro industry code is IMAKAKAA, Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling), with a secondary code of IMAHAMAC, Rock Drilling & Blasthole Drilling Equipment. Its NAICS code is 2131 and its SIC code is 8731.