Tag Archives: Federico Tata-Nardini

Thor Energy to tap Fleet Space’s EXOSPHERE BY FLEET tech for Alford East copper-REE project exploration

Thor Energy Plc has announced a collaboration with Fleet Space Technologies to undertake Ambient Noise Tomography (ANT) surveys to advance Thor’s understanding of the Alford East copper-REE project, in South Australia.

The exploration-focused agreement will see Fleet deploy its EXOSPHERE BY FLEET® technology, which scans the ground using the advanced ANT seismic tomography technique, where highly transportable ‘Geode’ devices listen to faint background vibrations from natural and man-made sources. The data is then processed rapidly and transmitted through Fleet’s constellation of low earth orbit satellites, recently launched by SpaceX.

This technology will be used in surveys over the Alford East project to successfully delineate the low velocity, weathered ‘troughs’ that host the oxide copper-REE mineralisation with the Alford Copper Belt, Thor says.

Fleet will then integrate ANT results with Thor’s 3D geological model by using AI and machine learning to generate a new model for drill targeting higher-grade oxide copper-gold mineralisation.

The results from the surveys will play a pivotal role in shaping decisions and refining the targeting strategy for upcoming drilling campaigns, Thor says, adding that these future drilling efforts will be concentrated on regions characterised by low seismic velocity, known for hosting oxidised copper-gold mineralisation conducive to the possibility of in-situ recovery (ISR).

In line with this, an investment fund associated with Fleet Space will make a direct equity investment of A$250,000 ($161,797) in Thor via a share subscription at A$0.04/share.

Nicole Galloway Warland, Managing Director of Thor Energy, said: “Thor is delighted to have formed a collaborative partnership with Fleet Space Technologies to accelerate mineral exploration at our Alford East copper-REE project. EXOSPHERE BY FLEET is a low environmental impact method of exploring undercover and at depth, which through our 30% equity in EnviroCopper (ECL) have successfully completed a similar project at Alford West project, located to the south.”

Federico Tata-Nardini, Chief Financial Officer, Financial Strategy & Investment Officer of Fleet SpaceTechnologies, said: “In a groundbreaking collaboration, Thor and Fleet Space are set to redefine mineral exploration through the innovative integration of space technology. This partnership marks the convergence of advanced technologies. Fleet’s cutting-edge space technology will merge seamlessly with Thor’s expertise in mineral exploration. The Alford East project will act as the catalyst for this transformative journey, ushering in a fresh era defined by heightened efficiency and unparalleled precision. This will unlock a realm of opportunities for highly targeted drilling campaigns and expedited exploration endeavours.”

The Alford East project covers the northern extension of the Alford Copper Belt, located on the Yorke Peninsula, South Australia. The Alford Copper Belt is a semi-coherent zone of copper-gold oxide mineralisation, within a structurally-controlled, north-south corridor consisting of deeply kaolinised and oxidised troughs within metamorphic units on the edge of the Tickera Granite, Gawler Craton, South Australia. Thor completed an inferred mineral resource estimate by using historic drill hole information, which came in at 125.6 Mt at 0.14% Cu containing 177,000 t of contained copper and 71,500 oz of contained gold.