Tag Archives: Mineral exploration

Fleet Space Technologies adds machine-learning powered features to ExoSphere platform

Mineral exploration, Mining services, Mining software, , ,

Fleet Space Technologies has announced three new features to its mineral exploration technology, Exosphere by Fleet®, designed to enhance and accelerate data-driven global mineral exploration efforts with machine learning (ML) capabilities and real-time survey diagnostics.

The introduction of new ML-powered features and real-time sensor diagnostics to ExoSphere enables faster on-site targeting decisions and provides access to greater subsurface insights before, during and after every survey, the company says.

Bringing together Fleet Space’s satellite constellation in low Earth orbit and patented seismic array technology, ExoSphere delivers 3D subsurface models of a survey area in days with near-zero environmental impact, according to the company. Over 35 global exploration companies have used the technology to complete hundreds of surveys for a wide range of commodity types across five continents, including Rio Tinto, Barrick Gold and Core Lithium, among many others.

“A future with near instantaneous access to subsurface insights that can lead to the next wave of mineral discoveries needed for the energy transition is within our grasp due to rapid advances in space technology,” co-Founder & CEO of Fleet Space Technologies, Flavia Tata Nardini, says. “Technologies like ExoSphere, and the ML-enabled, real-time features we are building for it, represent a major leap forward in the potential scale and speed of data-driven exploration while also reducing environmental impact.”

With ExoSphere’s 3D subsurface models and ML-enabled features, exploration customers will be able to leverage a variety of new subsurface insights on-demand to accelerate and enhance their data-driven exploration efforts, according to the company.

Outlined below are the new ExoSphere features available today and others that will arrive in the coming months, including Geological Sketch, Basement Depth, and Real-Time Diagnostics.

Geological Sketch
Starting today, customers using the ExoSphere platform will be able to access Geological Sketch – a powerful visualization tool that allows them to convey their understanding of the geology and lithology of their project. Using this visualisation, Fleet Space’s in-house team of geophysicists can refine the customer’s 3D model with a wider range of insights before, during, and after their survey is complete – enhancing model accuracy while also unlocking new insights to inform their targeting decisions, the company says.

Basement Depth Map
Understanding basement depth is critical since it is an important indicator of the economic potential of a project. In the coming months, ExoSphere will have a ML-enabled feature that will provide a projection of the basement depth based on customers’ ANT survey results (example below). Customers will also be able to upload other insights they have about the lithology and geology of the area to enhance the prediction on the ExoSphere platform. This gives customers an efficient way to evaluate and visualise the potential basement depth of a project as part of their data-driven exploration efforts, according to the company.

Real-Time Diagnostics
Fleet Space’s patented, space-enabled seismic sensors (Geodes) have been deployed across the globe. As part of their deployment, customers will soon be able to review the diagnostics on each individual Geode used as part of a survey in real time to determine if any corrective measures should be taken to optimise their performance while in the field, the company says. Real-Time Diagnostics is a powerful tool for on-site teams to make quick adjustments to the Geodes without the need to remove them from the survey area which is common with other methods.

The addition of these new features follows several other additions to ExoSphere last year, including the Sensitivity Model, Data Processing Report and Source Data Pack.

Alongside this Exosphere announcement, Fleet Space Technologies announced that it has been named an industrial affiliate of Stanford University’s Mineral-X program – a premiere research organisation combining deep expertise in geoscience, resource optimisation, and artificial intelligence to enable a resilient and decarbonised mineral supply chain. Through this collaboration with Stanford University’s Mineral-X, Fleet Space aims to advance research, unlock innovation and accelerate humanity’s clean energy future leveraging space technology.

Fleet Space Technologies joins Ideon Technologies in being named as an industry affiliate of the program, who made a similar announcement in November last year.

Orica’s Champ Navigator2 to offer high-density true vertical continuous survey measurement

Mineral exploration, , , ,

Orica has announced the release of its latest Champ Navigator2™ technology, to enable operators to measure with greater accuracy in more orientations.

Champ Navigator2 is the latest iteration of Axis Mining Technology portfolio of engineering complex surveying measurements into driller operable hardware.

Orica’s purpose is to sustainably mobilise the earth’s resources, and precise knowledge of resource location is essential data that supports each phase of the value chain from exploration to processing. The accurate identification and orientation of every borehole serves as pivotal information in orebody characterisation and significantly influences critical operational processes such as mine planning, grade control, dilution management and blending.

Developed by Orica Digital Solutions in Tewkesbury, England, the Axis team have a track record of delivering innovative and integrated measurement solutions, Orica says. With a design ethos that goes beyond the measurement hardware to incorporate workflows to maximise driller productivity, the Champ Navigator2 is likely to be another product that drillers choose to use, delivering the survey quality that geologists demand, the company claims. The combination of this hardware with complementary software is expected to significantly accelerate and enhance mining workflows.

Champ Navigator2 enhances the standard Champ Navigator by offering high-density true vertical continuous survey measurement while significantly improving North-Seek azimuth accuracy and repeatability across all measurement modes. Adding high-speed, high-density vertical continuous surveying that does not rely on data interpolation leads to higher quality surveys and reduced survey times, improving both drilling productivity and survey quality, according to Orica. This improvement not only enhances productivity but also minimises standby costs for customers.

Orica Digital Solutions Vice President, Rajkumar Mathiravedu, said: “Orica Digital Solutions is continually expanding our offerings to solve more of our customers’ challenges, and Axis is at the forefront of this in the Orebody Intelligence space. Our global team of hardware and software engineers build the best-in-class user experience not just for the initial users of the tools or recipients of the data, but for any divisions who need the data for downstream operations.”

High-speed continuous survey capability is flexible to all drilling environments, underground or surface. Orica added: “Confidence begins at the collar with a measured North Seek azimuth and extends to the intuitive driller-friendly operating interface that supports effective survey execution.”

Mathiravedu concluded: “Orica has been shaping the future of mining for 150 years, and our digital solutions such as the Champ Navigator2 are a testament to our ongoing commitment to innovation, safety and delivering value for our customers.”

SBQuantum

SBQuantum and Silicon Microgravity to accelerate underground mineral deposit discovery

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

SBQuantum, a company claiming to be the first developing diamond quantum magnetometers to accelerate critical mineral discovery, has announced a new partnership with Silicon Microgravity, a disruptive technology company developing innovative inertial and gravity sensors.

The project will see the development of a drone-based system of sensors combining magnetics and gravimetry to accelerate the location and analysis of underground mineral deposits for the mining industry. This joint approach will, it says, significantly reduce the time and capital required for locating and analysing deposits in the field, while also improving 3D geological readouts.

David Roy-Guay, CEO and Co-Founder of SBQuantum, said: “It is of paramount importance for SBQuantum to both develop international partnerships as well as diversify our sensing stack to improve hit rates for mineral drilling. This project with Silicon Microgravity accomplishes both. We would like to thank IRAP for providing part of the funding to deploy quantum magnetometers in the field, on airborne platforms, and we’re eagerly looking forward to deploying this hardware in the field.”

These dual sensor systems can be deployed via drone over mining claims of all sizes to detect underground deposits from the sky. These include strategic minerals such as cobalt, copper, lithium, nickel, platinum, rare earths and others. Whereas conventional magnetic field maps provide limited data regarding 3D depth information, this new, combined approach overcomes this issue, allowing users to see the geology in 3D after a single survey and with at least 30% greater resolution than the current industry standard, SBQuantum claims. In turn, this may reduce the need to move heavy equipment and personnel around remote areas, fast-track drilling operations and provide a higher hit rate, all of which drives down costs.

Francis Neill, Chief Executive Officer and Director at Silicon Microgravity, said: “We’ll be combining two key geophysical surveying methods, gravimetry and magnetics, to quickly identify promising mineral deposits. Based on these complementary techniques, we anticipate accelerating the discovery of many of the 300-500 new strategic mineral deposits required to move the global energy transition forward.”

The Quantum Accelerated Mining Exploration project, or QUAMINEX, is being partially financed by the governments of Canada and the UK, which have contributed C$500,000 ($368,743) and £414,000 ($524,603), respectively.

SBQuantum’s funding comes from Canada’s IRAP program, as part of the National Research Council’s grants for Canada-UK collaborations using quantum technologies. Silicon Microgravity’s funding was courtesy of UK Research and Innovation, which is funding the British part of these transatlantic collaborations.

The project, which will take 18 months to complete, also represents the first deployment of a diamond-based quantum magnetometer on a drone. Both partners are currently optimising the positioning of their sensors on the drone for maximum efficiency, SBQuantum says. Once the equipment is ready, testing will begin in a remote area of Canada.

IMDEX to launch next-generation digital core orientation tool at PDAC 2024

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

IMDEX says it will use this year’s PDAC forum to feature its next-generation digital core orientation tool ACTx as part of its end-to-end solutions to aid drilling optimisation, improve rock knowledge and assist fast data collection and analysis.

The integrated solutions cover activity from the drill rig to the core shed, and the office, with this year a second booth dedicated to mining production tools for the bench and underground working face.

IMDEX will have a focus on the collection of structural data, through ACTx and LOGRx and its industry partner, geoscience image analysis experts Datarock.

IMDEX Head of Product, Mark Gabbitus, said the solutions assisted mining and exploration companies to safely find, define, and mine orebodies with precision and at speed.

“ACTx provides unparalleled quality control and traceability,” Gabbitus said. “There are many ways that the ori mark can go wrong. This is where the ACTx solution changes the game. The new Smart Jig works with the ACTx down hole unit to not only make it harder to put a bad ori mark on the core but the system also collects QA data about the orientation and marking process that the geologist can access in IMDEXHUB-IQ.

“Additionally, the driller can see when there are issues and enter in comments about what went wrong and why. This gives the geologist more confidence in the data they are using.

“There are four key elements that define the rock: location, geochemistry, mineralogy, and structure and we have technology and tools that assist in the data capture and analysis of each of these elements.

“Geochemistry is the property of a rock that most people focus on, and grade is king, but at IMDEX we believe that structure is equally important.

“Pretty much all orebodies have some element of structural control and as we go deeper and chase smaller, lower grade orebodies, structure becomes even more critical.

“That’s why we have been focused on developing innovative solutions to enable the collection of structural data for more than 20 years.

“Knowing the structure of the rock indicates the shape of the orebody, how the rock will react when portions are removed through holes or tunnels, and how it will react when blasted and crushed.

“It can be used to find new ore zones and is critical to the safety and economic viability of a mine.”

The Prospectors and Developers Association of Canada conference in Toronto is from March 3 to 6.

The IMDEX end-to-end solutions on show at PDAC (from the drill rig (drilling optimisation and downhole solutions):

  • xFORM™ – IMDEX’s multifunctional fluids range;
  • DeviDrill – An innovative directional core barrel based on the wireline core drilling technology used in exploration drilling. It drills the hole in a curve while at the same time collecting a 3m/10ft core sample, leading to the application name, Directional Core Drilling (DCD);
  • ACTx – Next generation digital core orientation tool; and
  • Survey tools: OMNIx™ and DeviGyro

To the core shed (optimisation software and in-field geo solutions):

  • LOGRx – The market-leading core logging solution, providing accurate structural measurements; and
  • pXRF – Delivers quality, reliable XRF data by ensuring optimised and auditable workflows, QA/QC protocols and data integrity, while providing a seamless and user-friendly software interface. The REFLEX XRF™ solution is available in a configurable deployment package; from stand-alone REFLEX CONNECT™ software for an existing device, to a complete XRF hardware

To the office (data management and analytics and orebody analytics):

  • HUB-IQ™ – Provides secure access to validated field data, which is seamlessly transmitted from a range of sub-surface instrumentation, analytical instruments and mobile form data inputs;
  • aiSIRIS™ – The leader in automated spectral mineralogy from hand held infrared spectrometers. Complemented by aiSWYFT, which builds on the several million, expertly labelled spectra in the database behind the aiSIRIS cloud-based AI spectral mineralogy solution. Allows standardised and repeatable results within minutes of uploading spectra; and
  • ioGAS™ – Leading exploratory data analysis software application developed specifically for the resources industry.

To the bench and underground working face (surface and underground mining solutions):

  • BHS™ – a multifunctional product formulated specifically for air drilling applications, particularly drill and blast applications. It helps prevent a wide range of down-hole problems including poor collaring, hole decay or sidewall instability, provides a degree of lubrication to the hole and will improve the lifting capacity of the air stream for cuttings transportation;
  • BLAST DOG™ – Semi-autonomous system for multi-parameter measurement of blast holes, which allows automated spatial domaining of material characteristics and fracturing in ore and waste; and
  • OMNIx™ and BOLT (underground) – Production hole survey tools for underground applications measuring blast hole deviation using a north seeking gyro.

DIG CT to bring MinEx CRC’s RoXplorer coiled tubing drilling tech to the market

Environmental, Mineral exploration, Mining equipment, Mining services, , , , , , , , , , , ,

MinEx CRC says has struck a commercialisation deal with DIG CT, a niche Australia-based drilling company set to bring MinEx CRC’s RoXplorer® coiled tubing (CT) drilling technology to market.

The CT drilling platform enables mineral exploration companies to significantly improve their environmental footprint and productivity by meeting the challenges of exploring in deep cover frontier provinces, barely touched in decades of previous exploration, according to MinEx CRC.

Developed in collaboration with industry partners Anglo American, BHP, Epiroc, LKAB Wassara, South32 and the Minerals Research Institute of Western Australia (MRIWA), the CT platform can drill through unconsolidated cover and hard-rock formations to depths of 500 m, delivering safety, efficiency, productivity and high-quality sampling with minimal infrastructure and streamlined operating processes.

“The key feature of RoXplorer CT drill rig is the patented mast design and over-the-hole positioning of the coil reel,” MinEx CRC CEO, Andrew Bailey, said.

“This enables increased coil life, seamless transition between CT and conventional top-drive drilling, rapid loading and unloading of tooling and drill string incorporated on the rig for ease of set up, pack down and transport.”

DIG CT Founder and Director, and Global Drilling Specialist, Craig Lavrick, said: “I’m proud to have been involved with the CT rig platform’s development since its inception, for over a decade. I consider coil tubing technology a ‘game changer’ and necessary next generation equipment to elevate exploration drilling to a safer, greener and more productive industry.”

Since August 2021, the CT platform has safely completed over 14,000 m of drilling in collaboration with Geological Survey of South Australia, Geological Survey of Western Australia, Geoscience Australia, Anglo American and EnviroCopper. Drilling trials demonstrate the system’s success and application to real-world, deep cover exploration scenarios while providing cost, productivity, safety and environmental benefits when compared with conventional drilling platforms.

The commercialisation deal between MinEx CRC and DIG CT will see the RoXplorer CT drilling platform offered as a drilling service for hire, with one initial drill rig in operation, with the intent to grow the fleet as mineral explorers recognise the value and utility of the novel CT technology, MinEx CRC says.

In February 2023 MinEx CRC announced a manufacturing deal with rig manufacturer, Schramm – now a subsidiary of the Epiroc group – who are ready to build the new fleet of CT drill rigs as demand increases, according to the organisation.

Humyn.ai and Dundee Precious Metals put out call to accelerate mineral discoveries

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Humyn.ai has partnered with Dundee Precious Metals to launch a crowd-sourced open data competition looking to fast track the discovery of mineral deposits.

The competition, which will run until May 2024, is a worldwide call for geologists and data scientists to collaborate with the DPM team and develop innovative ways to accelerate mineral discoveries.

Humyn.ai says: “Mineral exploration currently has a less than 1% success rate globally, in terms of discovering new economic orebodies. One of the challenges, especially on the near-mine data rich exploration environment, is the increasingly complex and multi-layered datasets that geologists need to collect and further integrate with already available heterogenous historical data.”

Dundee Precious Metals sees this challenge as an opportunity to work closely with geologists and data scientists, to share industry, technical and site-specific knowledge in order to collaboratively develop an innovative targeting approach applicable in such an environment, Humyn said.

The Future Explorer Challenge comes with the chance to win up to $250,000 in prizes, as well as the prospect of future closer collaboration with the DPM team, Hymun.ai says.

David Rae, President and Chief Executive Officer of Dundee Precious Metals, said: “We are excited to be launching this innovative competition. While the overall objective is the potential discovery of significant new deposits, we are also targeting the opportunity to work with top innovators – both geoscientists and data professionals – to develop new ways of unlocking the value in our data.”

Humyn.ai Founder and Director, Holly Bridgwater, said: “This crowd-sourced data competition will engage a global community of innovators, many of whom have no experience with the mining industry. We can’t wait to see how people with diverse skills from around the world will contribute to solving a hard problem faced by industry.”

IMDEX aims for directional drilling growth following Devico takeover

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Following the acquisition of Devico, IMDEX says it is looking to grow the market for Directional Core Drilling (DCD) technology.

The technology is billed as delivering sustainable mining operations through more focused and efficient exploration with decreased costs and lower environmental impact, including reduced water consumption and greenhouse gas emissions when compared with conventional drilling.

Devico was acquired by IMDEX earlier this year.

IMDEX Chief Operating Officer, Shaun Southwell, said the transition to directional core drilling was inevitable as exploration costs increased in the search for mineral deposits that are deeper and in more remote and unexplored regions.

“Resource companies need to take every advantage available to them so having the capacity to hit more targets with less exploration drilling delivers real quantifiable savings,” he said. “Directional core drilling is one of the fastest growing markets as companies seek precision in their drilling programs.”

Time and cost savings from 20-50% are typical compared with conventional drilling, according to IMDEX.

The technology is well-suited in the search for geologically complex critical minerals, particularly with the capacity to drill multiple secondary drill holes from an initial mother hole and/or overcome natural deviation to hit intended targets.

IMDEX General Manager, Europe, Erlend Olso, said that while directional core drilling added some short-term costs, resource companies were recognising the greater overall savings.

“Using directional core drilling provides precision and efficiency in exploration; you can hit more targets with a lot less metres drilled,” Olso said. “Resource companies save money in the exploration phase but also know that they can hit the targets and prove up the resource in a better, faster way. There are a lot of added benefits.

“A lot of drilling companies realise they can get ahead by working with us.

“The more widespread the technology is becoming, the more the resource companies are looking for drilling companies who can work with us in the most efficient way.”

Olso said resource companies in Canada had been early adopters of the directional core drilling technology followed by Nordic countries, with South America over the past five to 10 years and more recently Africa.

Devico and IMDEX are planning to expand the directional core drilling market in Australia.

Anglo American Principal Geology and Resource Estimator, Janne Siikaluoma, credited Devico’s directional core drilling technology with delivering results that would not otherwise have been possible at its Sakatti copper, nickel and PGE deposit in Finland, 150km from the Arctic Circle.

“AA Sakatti Mining Oy has used Devico’s services in the Sakatti Cu-Ni-PGE project since 2017,” Siikaluoma said. “Devico’s services and, especially directional core drilling, has been an important factor to be able to conduct accurate diamond drilling programs in deep and complex deposits located in environmentally sensitive areas like Sakatti.

“The Sakatti winter season 2022-2023 metallurgical drilling program with several multi-branch DCD-guided holes was completed on time with high technical quality.

“This enabled AA Sakatti Mining Oy to collect the metallurgical samples from the Sakatti Cu-Ni-PGE deposit by means of core drilling which was the priority one objective and very important for the future progress of the Sakatti project.

“Additionally, the successful drilling program enabled us to achieve a constant 25 m drilling pattern in certain key areas of the deposit with the required 5m target precision (up to 800 m depth) which would have not been possible by any other practical means.”

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

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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.

Orexplore furthers critical mineral core scanning push with Green Critical Minerals, Northern Minerals agreements

Energy minerals, Mineral exploration, Mining services, , , , , , , , , , ,

Mineral scanning technology company, Orexplore Technologies Limited, has made inroads into the critical minerals industry after signing two scanning agreements with companies from that sector and progressing an R&D project in collaboration with Uppsala University.

Green Critical Minerals has extended its engagement for a further 2,500 m of core scanning, in addition to 300 m already scanned in 2023 via Orexplore’s laboratory service. This order brings the total value of the engagement to approximately A$226,000 ($149,589) and encompasses scanning of graphite-bearing drill core and the delivery of ore-sorting evaluation, grade proxy modelling and emerging graphitic flake analysis solutions using the dataset captured by the company’s GeoCore X10® hardware, Orexplore says.

Green Critical Minerals is developing the McIntosh graphite project in Western Australia, which, it says, currently has the third largest graphite resource in Australia with 1.1 Mt of contained graphite.

Northern Minerals, meanwhile, has extended its engagement for an additional 900 m of core scanning, following the 420 m already scanned to date. This order brings the total value of the engagement to approximately A$130,000 and encompasses scanning of rare earth-bearing drill core and crushed samples. The project focuses on delivering two Orexplore solutions – ore-sorting evaluation and a proof of concept for operational grade control, the company said.

Northern Minerals is developing the Browns Range heavy rare earth project in Western Australia, which is currently the subject of a definitive feasibility study.

On top of these two agreements, Orexplore said its research and development on critical minerals accelerates with a project it is carrying out in collaboration with Uppsala University in Sweden having recently progressed to scanning samples from Talga Group Limited’s (ASX: TLG) Swedish resources. It has also received a development grant of A$77,000 for advancing a project on lithium scanning technologies with a Swedish lithium producer, which is supported by Sweden’s Vinnova innovation agency.

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.