Tag Archives: SensOre

SensOre expands AI-based geophysics capacity with Intrepid Geophysics acquistion

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.

Unico to help further commercialise SensOre’s mining exploration technology platform

SensOre Ltd has executed an agreement with Unico, now part of global IT and business consulting firm CGI, to collaborate on the commercialisation of SensOre’s mining exploration technology platform.

The project represents an opportunity to expand SensOre’s current client services to a cloud-based SaaS (software as a service) product, it said.

SensOre’s technology was created to improve exploration success rates and performance, leveraging artificial intelligence and machine-learning technologies, specifically its Discriminant Predictive Targeting® (DPT®) workflow. SensOre collects all available geological information in a terrane and places it in a multi-dimensional hypercube or Data Cube, with its big-data approach allowing DPT predictive analytics to accurately predict known endowment and generate targets for further discovery, it says.

The contract with Unico is an important step in SensOre’s technology development roadmap, it said. It is envisaged that development and deployment of the proprietary platform will open the door to scale the company’s products and expand SensOre’s capacity to service mineral exploration companies in Australia and overseas, while reducing the company’s unit cost per engagement.

The project will involve using SensOre’s AI-driven technology to create a digital twin of the Earth’s surface, enhancing the way exploration companies identify and analyse mineral exploration targets, SensOre says.

SensOre Chief Executive Officer, Richard Taylor, said: “Our background is creating and deploying technology and software that generates exploration targets using AI. While we have previously focused on Western Australia, a key objective of the Unico partnership is to enhance the pace of our data expansion across the globe.

“This project is a massive opportunity to use our technology to build a model that we believe will be in demand from mining exploration companies around the world. We are excited about the prospect of a global relationship with CGI to help expand our technology offerings into new markets.”

Unico’s Director of Innovation, Evan Harridge, said: “Imagine being able to analyse an MRI scan of the Earth. SensOre’s AI-driven analysis tools will be able to see what is underground in great detail, similar to how medical imaging technology can accurately see inside the human body. This technology would enable exploration to be more targeted and limit the overall environmental impact.”

SensOre signs DPT machine-learning tech pacts with Barton Gold, Deutsche Rohstoff

SensOre Ltd and its artificial intelligence (AI) and machine-learning DPT® technology are continuing to gain traction across the exploration sector, with the ASX-listed company having progressed work with Barton Gold Holdings Limited and Deutsche Rohstoff AG.

SensOre says its exploration tools predict the location and economic viability of deposits, generating information on endowment (size), grade and depth at a cell dimension small enough to quicken decision making and move directly from predicted target to drill testing cost effectively and with a narrower environmental footprint.

The company has, first, signed a terms sheet with Barton Gold to adapt and refine its Discriminant Predictive Targeting (DPT) technology to a circa-60,000 sq.km portion of the Gawler Craton in South Australia surrounding Barton Gold’s assets (pictured). The companies will focus on the targeting of gold and copper mineralisation.

Second, the company has agreed terms with Deutsche Rohstoff on the identification, acquisition and exploration of SensOre-generated lithium targets in Western Australia following what it says were “exciting results” from its first lithium-targeting program completed in December 2021.

The agreement with Barton is worth up to A$400,000 ($295,662) in co-funding to add data to the company’s South Australian data cube in the area surrounding Barton Gold’s tenements, with SensOre and Barton Gold operating in exclusive partnership on DPT targets generated in that area. Barton will also become a SensOre client and, subject to production from new gold and copper targets identified via DPT, SensOre will be entitled to additional royalty fees linked to gold ounces produced (or copper equivalent), it said.

Under the contract, Barton Gold will also join SensOre’s South Australian gold and copper prospectivity mapping initiative, which includes Hillgrove Resources, Argonaut Resources and Aroha Resources. The subsequent DPT engagement includes provision for integrating Barton Gold’s extensive data sets and deploying SensOre’s DPT in the area.

SensOre and Barton Gold will now advance the terms sheet to a detailed binding agreement ahead of commencement.

In the Western Australian lithium sector, meanwhile, SensOre stands to benefit from Deutsche Rohstoff as a partner through agreed targeting, acquisition and geological consulting fees for a minimum of eight accepted lithium targets, worth A$125,000 per target for a total of A$1 million.

The company will hold an initial participating interest of 30%, with Deutsche Rohstoff holding the balance. A preliminary budget of A$4 million has been agreed to fund exploration activity (A$2.8 million contributed by Deutsche Rohstoff and A$1.2 million by SensOre).

SensOre’s agreements with Deutsche Rohstoff and Barton Gold are the latest of several client engagements that leverage the potential of SensOre’s multidimensional Data Cube and AI-enhanced targeting technology, it said.

SensOre Chief Executive Officer, Richard Taylor, said: “We are excited to collaborate with Barton Gold who understand the tremendous upside potential that machine learning can bring to exploration and are already trialling machine learning technologies in the area including CSIRO’s machine-learning adaptive sampling platform. This partnership is an important milestone in offering Australia-wide prospectivity mapping and AI-enhanced minerals targeting to innovative explorers.”

He added on the agreement with Deutsche Rohstoff: “We look forward to collaborating with Deutsche Rohstoff to find the mines of tomorrow to reinforce Europe and Australia’s supply chain of battery and critical minerals needed to underpin global energy transition demand.”

BHP, SensOre progress artificial intelligence-backed exploration agreement to ‘Phase 3’

SensOre says it is to advance its Joint Targeting Agreement (JTA) with BHP to “Phase 3” after receiving approval from the major miner.

Under the JTA, SensOre was required to meet certain hurdle rates and technical thresholds through deployment of its Discriminant Predictive Targeting® (DPT®) technology and related auxiliary systems. SensOre says it has met or exceeded the requirements set for Phases 1 and 2.

Richard Taylor, CEO of SensOre, said: “The SensOre team has been excited by the performance of its systems in targeting new commodity and deposit types. The relationship with BHP and its support for innovation in exploration has been incredibly valuable. The results derive from the truly joint nature of the project and shared view that better use of geoscience data will lead to improvements in discovery rates. We are really thrilled with the results.”

SensOre and BHP reached agreement on a letter of intent in May 2020, confirmed via execution of the JTA on September 18, 2020. The JTA envisages a phased process, training the DPT technology on commodity-specific deposit types and applying the knowledge gained to a predetermined search space. SensOre stands to benefit from fees for the targeting exercise and potential success-based payments on certain discoveries arising from the technology, it said.

SensOre aims to become the top performing minerals targeting company in the world through the deployment of artificial intelligence and machine-learning technologies, specifically its DPT workflow. SensOre collects all available geological information in a terrane and places it in a multi-dimensional hypercube or Data Cube, with its big data approach allowing DPT predictive analytics to accurately predict known endowment and generate targets for further discovery, it says.

BHP targets more mineral discoveries with SensOre JTA pact

SensOre says it has welcomed a wholly-owned subsidiary of BHP as a client for its Data Cube and Discriminant Predictive Targeting® (DPT®) technology.

SensOre and BHP reached agreement on a Letter of Intent in May 2020 and confirmed this in a Joint-Targeting Agreement (JTA) on September 18, SensOre said.

The JTA envisages a phased process training the DPT technology on commodity-specific deposit types and applying the knowledge gained to a pre-determined search space. SensOre stands to benefit through fees for the targeting exercise and potential success-based payments on certain discoveries resulting from the technology, it explained.

Richard Taylor, CEO of SensOre, said: “The JTA is a very positive development for SensOre that has come to fruition over many months of discussion.

“The vast data challenge of cleaning and integrating massive geoscience datasets has in the past been an obstacle to applying big data and machine learning advances to mineral exploration. Through agreements like this, we believe SensOre’s DPT technology will be part of a new wave of discovery in mature markets.”

SensOre aims to become the top performing minerals targeting company in the world through the deployment of artificial intelligence and machine-learning technologies, specifically its DPT workflow. SensOre collects all available geological information in a terrane and places it in a multi-dimensional hypercube or Data Cube, with its big data approach allowing DPT predictive analytics to accurately predict known endowment and generate targets for further discovery, it says.

SensOre recently committed to a joint project with the Commonwealth Scientific and Industrial Research Organisation looking at automation and efficiency in big data cleaning and processing solutions for the mineral resource sector.

SensOre and CSIRO to clean up exploration datasets for AI algorithms

SensOre has commenced a joint project with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) looking at automation and efficiency in big data cleaning and processing solutions for the mineral resource sector.

Access to high-quality datasets has, in the past, been an obstacle to applying cutting-edge predictive analytics to solve geoscience and mineral exploration problems, according to SensOre.

The joint project, which will confront this problem, will see several CSIRO data science experts embedded within SensOre over the next six months.

SensOre says it aims to become the top performing minerals targeting company in the world through the deployment of artificial intelligence and machine-learning technologies, specifically its Discriminant Predictive Targeting® workflow.

“SensOre is committed to world-leading mineral exploration research and development,” Richard Taylor, CEO and Director of SensOre, said. “This is the second time SensOre has worked with CSIRO and the engagement has led to order of magnitude improvements in our approach. Australian government support, such as the Kick Start initiative, is important for Australian technology companies looking to grow globally.”

The joint project benefits from CSIRO’s Kick Start initiative for innovative Australian start-ups, providing funding support and access to CSIRO’s research expertise. The program offers eligible businesses matched funding of up to A$50,000 ($34,681) to undertake research activities.