Australia is already a particularly well-invested and well-established region for mining operations. Western Australia is particularly impressive, contributing to 63 percent of the country’s total mineral exploration expenditure. Australia is also one of the top five producers of minerals in the world for resources like alumina, lithium, zinc and manganese among others, with significant resources found in Western Australia. Given that mineral demand is on the rise and expected to continue to increase, there is a present and future opportunity for mineral exploration in Australia.
SensOre (ASX:S3N) is an Australia-based minerals-targeting company working to meet the need for better mining exploration methods and has the advantage of running its operations out of Western Australia. SensOre aims to combine its proprietary artificial intelligence (AI) and machine learning (ML) enhanced technology with its significant geoscientific experience and big data to become the top minerals-targeting company in the world. CEO Richard Taylor describes this combination as a means of “surgical exploration reducing costs, especially in drilling.”
Today, mining exploration is of critical importance to the establishment of mines and the acquisition of minerals for various products. However, exploration is often a costly and time-consuming business that is highly regulated by the government. The Victoria State Government, located in the Australian capital Melbourne, reported that fewer than 1 percent of all exploration targets become mines. Even worse, typical mineral exploration only involves 20 percent to 40 percent of the available data and is subject to human biases that could potentially negatively affect outcomes.
SensOre applies AI/ML algorithms to what is known as a Data Cube, which is a constantly updating and verified repository of over 60 billion data points, to predict the locations of mineral deposits all while determining the economic viability of deposits and minimizing environmental impact. Furthermore, SensOre uses its technology to explore new targets that share similarities to already established mines. In doing so, SensOre’s Data Cube and Discriminant Predictive Targeting Technology (DPT) were designed to help mineral companies better analyze where and how to explore, therefore allowing mining exploration to be more timely, cost-effective and reduce land disturbance.
SensOre has been working with mining corporations to aid in exploration using its AI and ML-based technologies.
In 2023, Gateway Mining (ASX:GML) executed a farm-in joint venture agreement with SensOre to evaluate and target the lithium exploration potential at Gateway’s flagship Montague Gold project in WA’s Murchison region. SensOre’s DPT technology will generate targets and explore selected tenements within the Montague Gold project for lithium-focused exploration for up to $4.5 million over 4.5 years, earning 80 percent of the lithium rights at the Montague Gold project.
Exploration Ventures AI (EXAI), SensOre’s subsidiary, has an agreement with Venture Minerals (ASX:VMS) to farm into the Golden Grove North project to identify copper (VMS) and lithium potential. EXAI may earn 70 percent in all mineral rights (excluding rare earths) by expending up to $4.5 million in two stages – $1.5 million to earn 51 percent over two years and $3 million for an additional 19 percent.
EXAI also completed a farm-in agreement with Firetail Resources (ASX: FTL) which allows EXAI to earn up to 80 percent of lithium rights on E59/E2252 by spending $3.5 million in two stages. Additional considerations of up to $600,000 will be paid by the company upon the delivery of a maiden mineral resource estimate (MRE) and pre-feasibility study (PFS). Under the terms of the agreement, SensOre will provide Firetail access to its proprietary AI technology across the Yalgoo and Dalgaranga Lithium Projects.
SensOre also collaborated with Stelar Metals (ASX:SLB) for the completion of research under their data sharing agreement, developing innovative lithium targeting tools and deploying the newly completed SensOre NSW data cube. The research revealed new areas of high LCT-pegmatite prospectivity along a NNW-SSE trend. The collaboration also aimed to deploy AI/ML applications on surface geochemistry and high-resolution geophysical techniques in support of lithium exploration.
The company has the potential to optimize mining exploration in a significant way through its proprietary technology and the Data Cube. This is only further compounded by Australia’s established mining industry and abundance of batteries and other precious metals.
SensOre is leveraging proprietary technology, big data analytics and extensive technical expertise to optimize every aspect of mining exploration.The company is a mineral-targeting firm operating out of Australia, with a particular emphasis on discovering precious and battery metals.SensOre has developed a suite of advanced technologies that aim to streamline mineral exploration through predictive targeting, organizing geoscience data and platforms powered by machine learning technology.The company’s Data Cube leverages over 60 billion data points across more than 2,400 layers to predict and determine deposit data layer correlations.Discriminant Predictive Targeting Technology (DPT) improves the way mining companies integrate, interrogate and analyze geoscience data, providing them with deep insights into where and how they should explore
Proprietary Technology Suite
A large portion of SensOre’s success can be attributed to its proprietary suite of mining technologies, which include predictive targeting, big data analytics, and machine learning platforms.
DPT Technology: The company’s DPT technology uses the Data Cube to make predictions for the location, size, grade, and depth of a potential deposit.Discoveries Database: An evolving database that leverages public mineral deposit and occurrence data to improve the prospectivity mapping process and DPT platform.Data Cube: This streamlined repository of cleaned and leveled geoscience data uses public and proprietary geochemical, geophysical, and geological data obtained by the company. The Data Cube includes more than 2,500 data layers and 24 billion data points.AGLADS: The Archean Gold Lode Alteration Detection System (AGLADS) machine learning system identifies alterations in enveloping gold lode systems in the Archean of Western Australia.IGROCK: A rock-type classification system capable of identifying igneous rock types using multi-element geochemical assay data.iDEPOSIT: A deposit-type classification system that uses multielement, geological, and mineralogical data derived from varying deposit types.iFERTILE: A geochemistry-based gold fertility prediction system that uses target data contained in a mineralized intersection to predict the amount of gold a potential target may contain.iChromite: An assessment tool providing an increased ability to quickly assess large volumes of geochemical data using automated machine learning technologies to separate fertile and barren samples in the exploration workflow.
Moonera is one of SensOre’s two projects occurring in the Madura region of Western Australia, at the Nullarbor Plain.
Initial Findings: SensOre’s DPT system confirmed that previous interpretations of the area predicted a concealed target.
Auralia Nickel-Copper-PGE Project
The Auralia Nickel-Copper-PGE project is the second of SensOre’s two projects in the Madura region of Western Australia and comprises three exploration licenses granted to its farm-in partner CGM (WA), a subsidiary of Chalice Mining Limited (ASX:CHN). “The application of SensOre’s technology to nickel, copper and lithium is generating some exciting possibilities,” said CEO Richard Taylor.
Current Focus: SensOre is currently interested in an 80-kilometer strike length anomaly, approximately 250 to 350 meters below the ground level.
Robert Peck AM – Non-executive Chairman
Robert Peck is a founding principal of peckvonhartel architects with 50 years’ experience in the architectural, development and infrastructure sectors, and the building industry nationally and in SouthEast Asia. Peck is the former president of the Australian Association of Consulting Architects, founding director of Japara Healthcare, former chair of iVvy and director of the RVF Group.
Richard Taylor – Executive Director and CEO
Richard Taylor has held senior executive roles in the resource sector for more than 15 years. Prior to SensOre, Taylor was CEO of ASX-listed Terramin Australia Ltd and held senior roles with Mineral Deposits Limited, PanAust, MMG and Oxiana Ltd specializing in business development, strategy and governance. He is a qualified lawyer. He holds an MBA from the University of Cambridge and a Master’s degree in Law from ANU.
Robert Rowe – Executive Director and COO
Robbie Rowe has more than 30 years of experience in gold and copper exploration from greenfield to mining environment. He was the former chief geologist and VP of exploration Australia Africa Asia Pacific region with Barrick Gold Corporation. He is an UNCOVER executive and from 2014 to 2019 was an independent consultant to the mining industry, government and academia. Rowe is responsible for the acquisition of new data sources and for managing the execution of field exploration programs for technology validation.
Adrian Manger – Non-executive Director
Adrian Manger is a senior business executive with 30 years of minerals industry experience, including 20 years in executive roles with BHP. Manger has founded and successfully commercialized private Australian, Chilean and Peruvian mineral exploration companies, including investment financing and joint ventures with majors. He was a founding board member of the Australia Colombia Business Council and is the chairman of the recently Canadian Securities Exchange listed Pampa Metals.