Tag Archives: aiSIRIS

IMDEX readies a host of new survey and measuring tools for PDAC crowd

IoT, Mineral exploration, Mining events, Mining services, Mining software, , , , , , , , ,

IMDEX will reveal the latest advances in its survey and measuring tools and its aiSIRIS interpretive mineralogy software at the Prospectors and Developers Association of Canada conference next week.

IMDEX claims to have the most accurate north-seeking gyro on the market – REFLEX SPRINT-IQ (pictured) – but Chief of Product Management and Marketing, Michelle Carey, says the new OMNIx gyros to be revealed at PDAC offer another level of accuracy, reliability and speed.

REFLEX IQ-LOGGER, the company’s existing core logging tool launched at PDAC in 2015, has been redesigned and re-engineered and will be introduced as LOGRx.

Advancements and development of aiSIRIS have facilitated the release of a new product in the aiSIRIS suite, aiSwyft, offering results in minutes, and at a reduced cost to the consumer.

“The continued improvement of these tools, as with all IMDEX technology, further strengthens our ability to assist the mining industry improve its resource stewardship,” Dr Carey said.

“Resource stewardship starts with reliable, accurate orebody knowledge, and that is what these IMDEX products deliver – quality data around the location, structure and mineralogy of rocks contributing to orebody knowledge.”

PDAC runs from March 5-8, in Toronto, Canada.

OMNIx

The advanced gyros, featuring Bluetooth communications, will have above and underground applications. REFLEX SPRINT-IQ has been upgraded, improved and streamlined and will be renamed OMNIx42, a 42-mm diameter tool. IMDEX is also introducing a new north-seeking gyro, OMNIx38, a 38-mm diameter tool.

Modifications and improvements for OMNIx42 have delivered reductions in tool length and weight, with savings in time per run and reduced running gear costs, according to the company.

The new OMNIx38 is at least 80% more accurate than IMDEX’s existing tool, which is the best and most accurate north-seeking gyro on the market, it added.

“The vast majority of rock knowledge data collected in the resource industry come from drill holes,” Dr Carey said. “There is no alternative to drilling a hole – so IMDEX is developing, designing and improving the best tools available to produce the most accurate drilling results.”

aiSwyft

aiSIRIS continues to be the leader in automated spectral mineralogy from handheld infrared spectrometers, processing millions of spectra from mining projects across the globe, and now has a new product offering, IMDEX says.

Building on the several million spectra in the database behind the aiSIRIS cloud-based AI spectral mineralogy solution, aiSwyft allows standardised and repeatable results within minutes of uploading spectra.

aiSwyft provides the solution to those users who put an emphasis on quick turnaround, as well as allowing a reduced end cost to the user. It still operates within the aiSIRIS platform, allowing a smooth transition for current aiSIRIS users, and enabling faster decision making, the company says.

As with the current aiSIRIS offering, aiSwyft can be used to process historical datasets, ensuring all data is interpreted in a consistent and standardised way, improving the understanding of geological deposits and helping with the planning of future drilling programs.

Dr Carey said: “The value to the customer of using aiSwyft is the ability to have consistent and unbiased mineralogy results, using a repeatable process, at a lower cost per spectrum, almost instantaneously.

“It provides expert quality results simply, without having a spectral geologist on staff or hiring a consultant and at the same time building up a consistently interpreted database which becomes increasingly valuable over time.

“For aiSIRIS, results are checked and audited for quality control and interpretation accuracy. Expert human oversight is applied in providing an interpretation of the spectra.

“With aiSwyft, an accuracy assessment metric is provided that indicates the level of confidence in the results. It is reported as a ‘probability’ value for each interpreted mineral.”

LOGRx

IQ-LOGGER remains the market-leading core logging solution, providing accurate structural measurements, IMDEX says.

The device records structural measurements (dip and dip direction), structure type and depth at the push of a button. Data collected can be visualised and validated instantly in an app where structural readings can be viewed on a stereonet before they are updated to HUB-IQ.

IQ-LOGGER significantly reduces time required for logging, while the digital transfer of structural measurements provides a reliable audit trail, according to the company.

Improvements in design, ergonomics and workflow have been introduced in the new LOGRx to further streamline the data collection process and make the tool easier to use.

IMDEX delivers record H1 revenue amid ongoing M&A drive

Explosives and blasting, Mining equipment, Mining finance, Mining mergers and acquisitions, Mining services, , , , , , , , ,

IMDEX has announced record first-half revenue to end-2022 matched with targeted acquisition activity designed to, it says, further enhance its market-leading position.

The company reported strong growth in Africa, South America and the Asia Pacific, and increasing demand for critical minerals as it revealed record revenue of A$198.8 million ($137.7 million), an 18.4% increase on the same time last year.

During this period, the company announced plans to acquire Norway-based Devico AS in a A$334 million ($230 million) deal that, it said, would reinforce its market-leading position in mining technology and deliver increased market penetration. This deal, the company says, is expected to be completed by the end of February. The company also signed a binding heads of agreement to acquire a 40% in Krux analytics, which delivers drilling analytics software, and an increase in its Datarock holding to 40.9%, from 30 per cent, in the period.

Revenue from the Americas in the six-month period was up 14% on the same period last year to A$89.3 million; Africa and Europe up 22% (A$48.4 million); and Australia and Asia up 22% (A$61.1 million).

IMDEX Chief Executive Officer, Paul House, said the M&A activity was a highlight of the first half of the year and the results demonstrated the strength of the company’s core business.

“We are very pleased with the performance, particularly our ability to grow the business notwithstanding the current macro-related uncertainty in our operating environment and to deliver further margin expansion on a normalised basis,” he said. “The company is well positioned to leverage the robust industry fundamentals through the unique competitive position our global presence, leading technologies and integrated solutions provide.

“Combining the IMDEX and Devico businesses is expected to further strengthen this position.

“Directional drilling, a market where Devico is the leader, is one of the fastest growing segments of the mining-tech space, as companies continue to look for deposits at depth, explore complex ore bodies and respond to the growing needs of faster, cheaper more accurate drilling services.”

Normalised EBITDA for the first half of the year of A$62.8 million, which excludes the exceptional litigation costs not expected to recur during the remainder of the financial year, was up 22% on the same time last year, and up 11% on a constant currency basis.

House said revenue from sensors and software had increased as had activity linked to the search for critical minerals.

“The global commitment towards net-zero emissions and the resultant demand for critical metals or the continued extraction of reserves is outstripping their replacement,” he said.

“Critical minerals are growing at a faster rate and IMDEX is well place to benefit from the necessary supply demand rebalance.”

Industry growth was underpinned by strong demand from mid-to-major mining companies, which reported ongoing or expanded exploration budgets for 2023, and strong financing for junior and intermediate companies in December.

Other first-half highlights included:

  • Rock knowledge sensors on rent up 6% and IMDEX HUB-IQ™ connected revenue increased by 41%;
  • Released next generation IMDEX ioGAS™ V8 data analysis software;
  • Completed first generation IMDEX MINEPORTAL™ software to support BLAST DOG™ trials and contracts;
  • Commercial prototype IMDEX BLAST DOG™trials progressing as planned; and
  • Spectra analysed with aiSIRIS™ software up 4%.

IMDEX bolsters real-time rock knowledge with Datarock investment

IoT, Mineral exploration, Mineral processing, Mining mergers and acquisitions, Mining services, Mining software, , , , , , , , , , , , ,

IMDEX says it has boosted its rock knowledge capabilities with a deal to acquire an initial 30% stake in image analysis company Datarock for A$5.5 million ($4 million).

Datarock has, IMDEX says, extensive geoscience and data science expertise that has led to the development of a cloud-based platform which applies artificial intelligence and machine learning to automate the extraction of geological and geotechnical information from core imagery, videos, and point clouds. This automation creates high value datasets that drive efficiency within mining operations, IMDEX added.

IMDEX has an exclusive option to acquire the remaining interest in Datarock over the next four years in a two-tranche process, subject to Datarock achieving agreed strategic milestones.

The partnership will enable IMDEX and Datarock to work together to accelerate growth plans, including product development and market expansion, it said.

IMDEX Chief Executive Officer, Paul House, said Datarock’s existing and planned products complemented IMDEX’s existing software including ioGAS™, aiSIRIS, MinePortal, and its cloud-based platform IMDEXHUB-IQ™, and strengthened the company’s ability to deliver real-time rock knowledge answer products.

“The Datarock team and the products they have built are strongly aligned with our strategy, our existing product offering and our value proposition for clients,” House said. “Data collected by geologists and engineers inform operational and financial decisions throughout a mine’s life cycle. This data is commonly collected manually, which is slow, laborious and can be prone to human error. Datarock aims to eliminate this error and deliver high quality and auditable data that provides value for the entire life of the mine.

“We are looking forward to working with the Datarock team. Its members are experts in the field of geoscience, data science and AI, and like IMDEX, have a drive for developing technologies to solve the mining industry’s biggest challenges.”

Datarock is an Australia-based mining technology company servicing the global exploration and mining sector. It is owned by two private companies, Solve Geosolutions Pty Ltd and DiUS Computing Pty Ltd. Solve Geosolutions and Datarock recently combined to both operate under the Datarock name. Solve is one of Australia’s leading geoscience machine learning and data science consulting businesses. DiUS is an Australia-based consultancy that helps organisations build the future using its expertise in AI, machine learning, IoT, cloud computing and product development.

Datarock’s products are applicable across the mining value chain, from geotechnical analysis of drill core during drill out, through to the mining and extraction phase, according to IMDEX. It has an existing customer base with major mining companies globally.

Datarock Chief Executive Officer and Director, Liam Webb, said there were clear synergies between Datarock’s products and several of IMDEX’s offerings.

“By working together, we will add considerable value to both companies,” Webb said. “When we started seeking investment our primary goal was to align ourselves with a company who saw the future the same way we did and could help us achieve our goals. I feel by entering into this agreement with IMDEX, who we believe are one of the world’s leading mining technology companies, we have achieved this.”

IMDEX addresses mining value chain pain points with ioGAS and aiSIRIS integration

IoT, Mineral exploration, Mining services, Mining software, , , , , , , ,

IMDEX says it has combined two “gold standard” data analysis products to produce a powerful workflow that delivers results applicable across the mining value chain, from exploration to production.

The combination of IMDEX ioGAS™, a leader in geoscience analysis, with IMDEX aiSIRIS™, a leader in spectral mineralogy interpretation, provides the user with a powerful solution to merge and analyse spectral mineralogy data with geochemical and other geological data sets, the company said. IMDEX has been working on the interoperability of the two products since it acquired AusSpec last year and with it, the aiSIRIS technology.

Following the acquisition, AusSpec Founder and Director, Dr Sasha Pontual, joined IMDEX as its Global Product Manager for Automated Mineralogy.

aiSIRIS (pictured) is the first commercially-operating artificial intelligence spectral mineralogy interpretation system in the world and is the leader in automated spectral mineralogy from handheld infrared spectrometers, according to IMDEX.

IMDEX Technical Product Support Specialist, Dr Luisa Ashworth, who is working with Dr Pontual on the integration of aiSIRIS with ioGAS, said that until aiSIRIS was developed, spectral mineralogy was confined to spectral experts using old style software, resulting in long turnaround times and often delivering incomplete and inaccurate results.

“aiSIRIS generates a standardised output which is the first of its kind in spectral mineralogy and has been trained on over 2 million real world spectra, each of which has been interpreted in detail by a world-class spectral expert, meaning it is robust across all common geological systems,” Dr Ashworth said.

“aiSIRIS is producing expert-level interpretations much faster than a person would be able to with more accuracy than most spectral experts. It’s already clearly at the technical forefront of the industry and we are developing it to go further.”

Tools have been built into ioGAS for the direct query of spectral mineralogy, further refining the data analysis, which has implications for areas including mine planning, beneficiation and production, IMDEX said.

“The interoperability brings together two products that are the ‘gold standard’ in their fields,” Dr Ashworth said.

ioGAS Product Manager, Putra Sadikin, said the integration created a powerful data analysis workflow that delivered detailed rock knowledge analysis addressing key “pain points”.

“The first pain point is resolved by the way aiSIRIS automates spectral data interpretation using a cloud-based solution,” Sadikin said. “Once you push the automated mineralogy data to ioGAS, it addresses the second pain point, which is how do we easily find patterns in that data and get better value out of the mineralogical information?

“ioGAS adds an additional dimension of interpretation allowing the integration of the automated mineralogical data from aiSIRIS with a range of other IMDEX tools, and the more you know about the rocks the better decisions you will be able to make.”

Near-infrared tech can help solve sampling problems, IMDEX’s Dr Pontual says

IoT, Metallurgy, Mineral processing, Mining events, Mining services, Mining software, , , , , , ,

Mineralogical data can be used across the entire mining value chain, from exploration to production, to build a detailed picture of a project, according to one of the world’s leading spectral mineralogy experts.

Dr Sasha Pontual, who developed aiSIRIS – a cloud-based artificial intelligence spectral interpretation software for portable spectrometer data – told an IMDEX Xploration Tech Symposium that mineralogy was critical for avoiding potentially costly surprises.

aiSIRIS (Artificial Intelligence Spectral InfraRed Interpretation System) is a proven technology that has processed more than two million spectra from more than 1,000 mining projects across the globe, according to Dr Pontual.

Dr Pontual joined IMDEX as Global Product Manager, Automated Mineralogy, when her company, AusSpec, was acquired by IMDEX in 2020.

“Historically, mineralogy sampling has not been adequate, with exploration companies relying more on the assay data and the geochemistry rather than actually using the mineral information,” Dr Pontual said. “We really need to know our rocks. This allows for decisions to be made in an informed way.

“Previously it has been based on low-density sampling. There are big volumes of samples spread through a deposit, but a lot of the work is associated with extrapolating the results from those low-density samples and basing some very critical decisions on small amounts of sample material.”

Dr Pontual says this low-density sampling is often not sufficient to get a detailed view of what is happening within a deposit.

“(This leads to) unwanted surprises during the mine life,” she said. “Some of them can be quite serious and lead to millions of dollars of loss and have serious adverse effects on the economics of a deposit.”

Dr Pontual said near-infrared technology could be used to determine mineral types and associations, mineral chemistry and crystallinity, in exploration to vector to potential mineralisation, in life of mine studies and mine planning, and at brownfields sites to extend known mineralisation.

Hand-held near-infrared tools offered ease of use, speed of collecting project-wide data sets and provided data that can be easily integrated with geochemical data.

“Hand-held spectrometers are still the fastest and most cost-effective way of collecting project-wide mineralogy,” Dr Pontual said. “The combination of an infrared spectral survey with a geochemical survey is very powerful because you’re then integrating that mineral information with your geochemical data.

“The complementary data sets allow for a more comprehensive understanding of the alteration system and the deposit.”

Hand-held spectrometers deliver substantial amounts of data for analysis, but “it’s no use getting volumes of data that are difficult to apply and to visualise in a geological context”, according to Dr Pontual.

“Industry requires accuracy and comprehensive information with detailed mineralogy, but with outputs that are easy to use,” she said.

Information needs to be standardised across projects and within companies, according to Dr Pontual.

Machine learning is the best way of getting accuracy and to train a system to be able to interpret the spectra in the same way as a spectral expert, she said.

Dr Pontual added: “This is how we developed the aiSIRIS system. This is a training set of real-world spectra that has all the variables built into it. We have close to two million real-world spectra and each one has been interpreted to an expert level.

“The system is very robust across a whole range of different geologies and different spectrometers and geological settings. You don’t need to do any preparatory work you can just go straight to your project, measure the spectra and analyse the spectra using the tool because you don’t need to create a project-specific spectral library for your project.”

aiSIRIS complements IMDEX’s existing in-field GeoAnalysis solution and integrates with IMDEX ioGAS™ software to provide further interpretation and analysis, the company said.

IMDEX adds rock knowledge component to ‘answer products’ with AusSpec buy

Automation, IoT, Mineral exploration, Mining mergers and acquisitions, Mining services, Mining software, , , , , , , ,

IMDEX has acquired AusSpec, an industry leader in automated mineralogy to the mining sector, in an A$8.5 million ($5.9 million) cash and shares deal.

The deal closes a technology gap for IMDEX around rock knowledge, complements its existing tools that add value across the entire mining chain from exploration to production, and has the potential to expand its offering with major mining companies, according to IMDEX.

AusSpec Co-founder and Director, Dr Sasha Pontual, and the AusSpec team will join IMDEX, the Australia-based company said.

The deal for New Zealand-based company unlocks access to AusSpec’s unique, cloud-based Artificial Intelligence Spectral InfraRed Interpretation System (aiSIRIS) technology, IMDEX says.

aiSIRIS is proven technology that has processed more than two million spectra from more than 1,000 mining projects across the globe and has enabled AusSpec to build up an extensive spectral library, according to the company. It involves the acquisition of spectra from hand-held spectrometers, the QA/QC of spectra to ensure quality for processing in real-time and uploading the data for the cloud-based aiSIRIS AI compute engine to analyse the spectra, according to AusSpec.

“aiSIRIS complements IMDEX’s existing in-field GeoAnalysis solution and integrates with IMDEX ioGAS™ software to provide further interpretation and analysis,” IMDEX said.

IMDEX Chief Executive Officer, Paul House, said the acquisition reflects the company’s continued drive to provide more complete rock knowledge to clients through real-time technology.

“The aiSIRIS technology fundamentally changes the approach to mineralogy,” he said. “There is nothing else like this in the industry.

“Without it, the alternative workflows are costly and time consuming. This makes mineralogy routine and establishes the industry standard.”

House said the AusSpec team was a strong strategic fit for IMDEX, providing a “compelling opportunity to accelerate our rock knowledge offering for clients”.

He added: “Every mine in the world makes decisions on the four components of rock knowledge – location, texture, grade, and mineralogy. Our technology stack currently addresses three of these components and aiSIRIS satisfies the fourth – mineralogy.

“Creating answer products, such as mineralogy, from field data in near real-time, is a big part of our vision and this is just another step in our goal to be the global leaders in creating rock knowledge for resource companies.”

The acquisition price comprises A$3 million in cash, and A$5.5 million in IMDEX shares over two years.