Tag Archives: SensOre

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.