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SensOre Ltd (SensOre or the Company) (ASX: S3N) has signed a terms sheet with Barton Gold Holdings Limited (ASX: BGD) (Barton Gold) to adapt and refine SensOre’s cutting edge AI and machine learning DPT® technology to a portion of the Gawler Craton in South Australia surrounding Barton Gold’s assets.
The companies will focus on the targeting of gold and copper mineralisation.
The agreement is worth up to $400,000 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 also be entitled to additional royalty fees linked to gold ounces produced (or copper equivalent).
Under the contract, Barton Gold will also join SensOre’s South Australian gold and copper prospectivity mapping initiative which includes Hillgrove Resources Pty Ltd, Argonaut Resources NL and Aroha Resources Pty Ltd. The subsequent DPT® engagement includes provision for integrating Barton Gold’s extensive data sets and deploying SensOre’s DPT® in the area.
Successful refinement of tools and methodologies for gold and copper exploration under cover in the Gawler Craton also offer significant potential to extend the outcomes to other regions of interest in Australia and internationally.
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.”
Barton Gold Managing Director Alexander Scanlon said: “We are pleased to join with SensOre in developing new tools and methodologies with the potential to significantly accelerate the mineral exploration and development cycle. We have closely followed SensOre’s technological progress as we have advanced our R&D pipeline for the central Gawler Craton and view the DPT® technology as a promising and timely complement to our other initiatives.”
SensOre’s engagement with Barton Gold is the latest of several SensOre client engagements that leverage the potential of SensOre’s multidimensional data cube and AI-enhanced targeting technology. SensOre and Barton Gold will now advance the terms sheet to a detailed binding agreement ahead of commencement.
This article includes content from SensOre, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.