Tag Archives: geoscience

SensOre expands AI-based geophysics capacity with Intrepid Geophysics acquistion

Mineral exploration, Mining mergers and acquisitions, Mining software, , , , , , , , , , , ,

SensOre Ltd says it has reached an agreement to acquire Intrepid Geophysics, a provider of geophysics software and services headquartered in Melbourne, Australia.

The deal, valued at around A$5 million ($3.4 million) will be primarily funded through the issue of new fully paid ordinary SensOre shares.

Intrepid Geophysics’ advanced automated geophysical software and geoscience expertise complement SensOre’s existing suite of machine learning and artificial intelligence-based mineral exploration software products and technology offerings, it said, adding that Intrepid Geophysics’ large client base and strong cashflows were integral to its strategic assessment of the transaction.

SensOre Chief Executive Officer, Richard Taylor, said: “Acquiring Intrepid Geophysics is a major opportunity for us. Intrepid Geophysics’ deep geoscience and machine-learning expertise in geophysics complements SensOre’s geochemistry and economic geology focus for targeting in mineral exploration. Demand for advanced geophysics software is strong and deployable globally.

“Intrepid Geophysics’ years of product leadership, data collation and collaboration with government geological surveys will benefit SensOre’s data platform development and client service offerings. We are looking forward to integrating Intrepid Geophysics’ exceptional talent with our team of innovators.”

Intrepid Geophysics Managing Director, Dr Desmond Fitzgerald, added: “The combination of SensOre and Intrepid Geophysics will unlock growth opportunities in a strong market for high-level exploration targeting. We look forward to being part of a growing and exciting geoscience group.”

SensOre and Intrepid Geophysics completed a successful pilot project in Victoria in the June quarter, confirming the technological synergies and product complementarity between the two companies, it said. The results of the pilot are expected to be deployed with clients in the September quarter, focused on the Stawell and Ballarat gold corridors. There is strong interest from prospective clients within these corridors, according to SensOre.

SensOre says its strategy has been to organise all of Australia’s geoscience data within its proprietary data cube technology, with the acquisition of Intrepid Geophysics significantly advancing that capability.

The deal also expands SensOre’s mineral exploration technology sector presence and exposure, with the deal seeing the company acquire a second team of dedicated geoscience professionals with cross-over expertise in the oil and gas, groundwater, geothermal and the emerging hydrogen storage sectors.

“In acquiring Intrepid Geophysics, SensOre gains access to multiple new targeting and decision-based proprietary technologies and strategic decision-based services using 2.5 dimension Airborne Electro-Magnetic inversion technology, tensor gradient technology, geology from geophysics feature extraction, and service automated workflows,” the company added.

These technologies, SensOre says, fill a gap in its product suite by incorporating geophysics products that take exploration targeting from the macro-focused Prospectivity Modelling and Discriminant Predictive Targeting® approach into drill target delineation in three dimensions.

Intrepid Geophysics’ software portfolio includes:

  • Intrepid 3D – an airborne and ground geophysical data processing and interpretation package;
  • Moksha-EM – an airborne electromagnetic full waveform inversion data processing and interpretation package;
  • Argus – a 3D geological modelling package with a tightly integrated geophysical forward and inverse modelling capability;
  • JetStream II – a web-based, spatially searchable data catalogue that enables geoscientists to quickly assess the coverage, type and vintage of georeferenced spatial data held over any given area; and
  • Sea-g Marine Gravity – a fully featured marine gravity processing application powered by Intrepid Geophysics technology for on-cruise and post-cruise use.

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.”

Seequent adds to cloud-based geoscience software base with Imago acquisition

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

Bentley Systems’ Seequent business unit has acquired Imago Inc, a developer of cloud-based software for the capture and management of geoscientific imagery.

The acquisition, which comes only a month after announcing the purchase of Aarhus GeoSoftware, will expand Seequent’s technology solutions portfolio while boosting cloud capabilities to help geoscientists and engineers solve earth, environment and energy challenges, it said.

Imago’s cloud-based platform enables the capture, cataloguing and review of drilling core and chip images from any source, to support every aspect of the geological process from exploration to grade control. Continued development of Imago’s machine learning will lead to a step function in the interpretation of geological data, according to Seequent.

Seequent said: “Mining companies around the world apply Imago’s solution in conjunction with geology data management and modelling tools to enable teams to make more confident, profitable decisions using instantly available, high-quality images. Seequent already integrates its Leapfrog, Oasis montaj, Target, and Minalytix MX Deposit with Imago’s solution, making it easy for geologists, engineers and other stakeholders to extract knowledge and learn from geoscientific imagery. The goal is to unlock significant potential for mining and other industries, transforming image data into meaningful insights for geological activities.”

Imago establishes a consistent process for capturing high-quality images, which integrate with existing workflows and allow the application of machine learning

Graham Grant, CEO of Seequent, said: “It’s an exciting step to welcome the Imago team on board to help advance Seequent’s progression into the cloud. We’re continually exploring ways to provide new technologies and solutions to solve workflow challenges, improve operational efficiency and deliver greater value for our users who are working to solve some of the world’s major civil, environmental, and energy challenges. This acquisition demonstrates Seequent’s continued growth and our commitment to make a positive contribution to the industries we serve globally.”

Imago’s Co-Founder, Federico Arboleda, said: “As a small team in Phoenix and Perth, we’re excited to join forces with Seequent, as this will now allow us to substantially scale Imago’s solutions in mining and other markets. We founded Imago to help mining companies manage the high volume and size of geological images and unlock the great value in this geoscience imagery. Image data is an increasingly important source of data across the geosciences – and can come from potentially any source, including core photos, hyperspectral, aerial photos, drones, and handheld devices. It will become even more important to transform image data into knowledge as automation needs increase.”

Seequent helps miners in COVID-19 era with remote geoscience software tools

Communications in mining, IoT, Mineral exploration, Mining services, Mining software, Precious metals, , , , , , , , , , , , , , ,

Geoscience software company Seequent says it is accelerating the development of its cloud-based solution, Seequent Central, to enable organisations to continue work on critical, large-scale, earth, environment and renewable energy projects in the COVID-19 impacted environment.

Central works alongside Seequent’s other geoscience analysis, modelling and collaborative technologies, to contribute understanding to subsurface geoscience and engineering design solutions.

The cloud-based solution allows people in any location to visualise, track and manage geological models created for infrastructure and critical services projects, in a centralised, auditable environment, according to Seequent.

This means a wide range of stakeholders can readily access highly visual up-to-date information to manage risk and make better environmental and investment decisions, to progress projects, it said.

Seequent CEO, Shaun Maloney, said the company was working alongside customers to do everything it can to make it possible to meet the demands and operational challenges they may be facing in the current environment.

“In response to increased need and demand, we’re accelerating the development of Central to help our customers to continue to operate in interdependent and often remote work environments,” he said.

Seequent’s software is being used on hundreds of diverse projects across the globe, ranging from infrastructure projects including large-scale rail, road and tunnel projects across North America, Europe, and Asia-Pacific; renewable energy projects in the US, Finland, Iceland, Indonesia, Philippines and New Zealand; mining and exploration projects in North and South America, Africa and Australia; and environmental projects such as groundwater management in North America, Europe, Africa and Asia-Pacific.

One of these projects is with Canada-based mining company First Majestic.

Focused on silver production in Mexico, First Majestic currently owns and operates the San Dimas silver-gold mine, the Santa Elena silver-gold mine and the La Encantada silver mine. The company is pursuing the development of its existing mineral property assets with industry practice modelling using Seequent’s solutions, according to the geoscience software company.

“First Majestic use Seequent’s Leapfrog Geo to develop a realistic presentation of the geology at each site (complex silver deposits with multiple veins), and Leapfrog Edge to aid resource estimation – and when geologic models are changed resource estimates also change dynamically,” Seequent says.

“Seequent Central allows the company to publish models and resource estimates – so they are immediately available to everyone from the mine geologists to management in real time.”

First Majestic Resource Geologist, David Rowe, says the company can now capture multiple resources across multiple mines.

“We can now get all cross-discipline experts together to review projects in one place, and I am notified when those reviews have happened,” he said. “This enables better access and collaboration for everyone.”

Australia extends and expands Exploring for the Future geoscience program

Careers in mining, Mine surveying, Mineral exploration, Mining finance, Mining policy, , , , , ,

Australia’s government has extended Geoscience Australia’s Exploring for the Future (EFTF) program for a further four years in a move that will support a stronger recovery and more regional jobs across the whole country, according to the Minerals Council of Australia.

The program has been highly successful in collecting pre-competitive geophysical data from the north of the country for use by researchers, explorers and mining companies, while attracting new exploration investment and jobs amid growing international competition from emerging mining regions, the MCA said.

The latest move will see the government invest a further A$125 million ($86 million) to expand the program’s reach to cover the whole of Australia, a statement from Minister for Resources, Water and Northern Australia, Keith Pitt, read.

It comes on top of the A$100 million previously spent on the program to drive investment, generate jobs and secure the future of the resources sector, Pitt said.

“The EFTF program uses a series of cutting-edge geoscientific techniques to map the geological structures at unprecedented scale and detail,” the statement read. “This freely available information creates a better understanding of our mineral, energy and groundwater systems and allows us to realise Australia’s economic potential.”

Pitt said even though Australia is known for its world-class mineral resources sector, over 80% of Australia is still underexplored.

“Over the past four years, EFTF has worked across northern Australia to deliver world-leading data about the region’s mineral, energy and water resource potential to industry, government and communities,” he said. “We are confident of the long-term impacts of the existing program, with independent analysis of the first half of the program, indicating it could deliver just over A$2.5 billion in economic benefits and jobs in northern Australia.”

He concluded: “The existing program has already demonstrated significant success unlocking Australia’s resource potential in the north that extending it just made sense. This will give industry, investors and the broader community a consistent, nation-wide picture of our natural resource potential.”

Welcoming the investment, Geoscience Australia Chief Executive, Dr James Johnson, said he looked forward to continuing this fundamental support for the resources sector.

“As the nation’s pre-eminent Earth science organisation, Geoscience Australia integrates the most advanced geoscientific methods and data to build an ever-improving understanding of our mineral, energy and groundwater resources for the benefit of all Australians.

“During the first phase of EFTF, we built on that understanding by releasing 200 datasets through a new online portal and developing innovative tools to help explorers assess the economic viability of a resource and make their next big investment decision. We can now develop this as a national resource.”

Exploration investment is the foundation of Australia’s mining industry, which generates A$289 billion in export revenue, directly and indirectly supports 1.1 million jobs and contributes A$39 billion in royalties and taxes to Australian governments, according to the MCA.