SensOre Ltd is set to disrupt conventional exploration with its proprietary target generation technology, vast geoscience data and geological expertise to uncover economically viable mineral deposits efficiently, sustainably and at pace.
The company aims to become the top-performing minerals targeting company by using a combination of big data and artificial intelligence (AI)/machine learning (ML) to provide the next generation of exploration success for in-demand commodities in Australia and internationally.
SensOre’s Data Cube and Discriminant Predictive Targeting® (DPT®) technology are designed to advance the way companies integrate, interrogate and analyse geoscience data to better understand where and how to explore.
The ultimate aim is an increase in discovery rates and the financial and environmental benefits that accompany it.
What it does
SensOre combines its geoscience Data Cube and its proprietary target generation and validation technology (DPT) with its team’s geosciences expertise to discover economically viable mineral deposits efficiently, sustainably and at pace for clients and for itself.
SensOre’s big data approach means it generates new target knowledge across large areas and working with clients allows SensOre to commercialise this knowledge.
The generation and validation of AI-enhanced deposit predictions (AI-Target(s)) is at the core of SensOre’s business.
SensOre structures its operations into three business divisions to leverage AI-Target opportunities:
➢ Exploration using its technology & IP assets: It has built a tenement portfolio of wholly-owned and joint ventured tenement assets in WA to discover in-demand resources through systematic exploration and evaluation. SensOre has adopted a ‘project generator’ model, maintaining multiple projects and, where required, amplifying its reach by sharing exploration costs through joint ventures;
➢ Exploration services: SensOre works with a select number of exploration and mining companies as clients to offer AI-enhanced targeting and prospectivity mapping and leverage SensOre’s knowledge over large areas. In doing so, SensOre aims to renew exploration pipelines and improve discovery success rates for its clients and partners; and
➢ Technology to enhance exploration performance and expand exploration services: SensOre invests in the continuous improvement of its Technology & IP Assets (including DPT, Data Cube, AGLADS®, iFertile®, iDeposit® and the SensOre Discoveries Database).
Portfolio
The SensOre Group has built a portfolio of wholly-owned and joint ventured tenement assets in advanced and emerging exploration regions in WA, including:
➢ Mt Magnet North in the Murchison;
➢ Desdemona North in the Leonora region;
➢ Greater Tea Well in the Meekatharra region; and
➢ Moonera in the Madura province.
Leveraging its targeting knowledge, SensOre takes a ‘project generator’ approach, where necessary, introducing third-party financing to amplify its ability to fund exploration and project development of its AI-Target pipeline.
This allows the company to expand its exploration programs to assess the potential of more targets.
Two global trends
SensOre chairman Robert Peck said: “SensOre is well-positioned to benefit from two global trends that are reshaping the mining technology sector.
“The first is the global energy transition which is driving the need to decarbonise the mining sector, while at the same time increasing demand for battery minerals to support renewable energy.
“The second is geopolitical tensions generating new interest in securing critical minerals supply chains.”
Growth strategy
SensOre aims to organise all of Australia’s geoscience information and then undertake this activity globally.
Currently, SensOre has a strategic asset in its Western Australia Data Cube and has extended aspects of the Data Cube across Australia.
Deepening the penetration of the Data Cube is dependent on automation and commercialisation.
SensOre’s technology has been identified as most applicable to major mining jurisdictions with good data availability, namely Australia, North America, parts of South America and Europe.
The company is laying the groundwork for scaling of international operations including expansion into North America and Scandinavia.
Market entry may be achieved through alliances or acquisitions.
SensOre’s technology has application in Africa and Asia, particularly its next-generation prospectivity mapping based on geology and geophysics.
However, SensOre is focused on major developed mining jurisdictions where demand for AI-Targets and innovation is strong.
Deutsche Rohstoff lithium exploration deal
In January 2022, SensOre entered into an exclusivity agreement with Deutsche Rohstoff AG on joint exploration of lithium AI-targets in Western Australia.
These negotiations follow exciting results from SensOre’s first lithium targeting runs completed in December 2021.
Headquartered and listed in Germany, Deutsche Rohstoff is focused on the investment in as well as identification, development and sale of attractive natural resources projects primarily in North America, Australia and Europe.
Achievements so far
Since incorporation in late 2019, SensOre has:
➢ Grown its gold exploration portfolio in the Yilgarn Craton;
➢ Expanded into battery and critical minerals, farming-in to the Moonera project in early 2021 and recently negotiating an interest in the Auralia project with a subsidiary of Chalice Mining Ltd (ASX:CHN, OTCQB:CGMLF);
➢ Validated its technology with an AI-led mineral discovery at Mt Magnet in Western Australia;
➢ Invested heavily in research and development activities to expand target generation and validation for use by the SensOre Group and for use by SensOre’s growing client base;
➢ Enhanced its Exploration Services through the ongoing development of its geoscience Data Cube; and
➢ Strengthened staffing in the company’s east and west coast teams.