SensOre Ltd (ASX:S3N) has stepped forward with two key partnerships that will see the hunt for energy, base and precious metals across Western and South Australia enhanced.
The company is teaming with German natural resources firm Deutsche Rohstoff to target, explore and acquire lithium prospects in the west under a joint venture agreement.
And to the south, the ASX-lister has brought the state’s premier gold explorer, Barton Gold Holdings Ltd, onboard as a client, broadening SensOre’s data portfolio in the prolifc Gawler Craton.
SensOre hopes to one day rank as the world’s top-performing minerals targeting company as it works to bring AI technology, big data and geoscientific expertise to the exploration sector.
The company has developed a suite of solutions to make minerals targeting and exploration more precise, efficient and effective.
Exploring for lithium in WA
SensOre and joint venture partner Deutsche Rohstoff AG have agreed to work together to identify, acquire and explore SensOre-generated lithium targets in WA.
Both parties shook hands on lithium exploration terms after the ASX-lister completed its first lithium targeting program in December last year.
Together, the parties will pursue at least eight accepted lithium targets worth $125,000 each, valued at a cumulative $1 million.
SensOre will take up an initial 30% participating interest, while Rohstoff will hold the balance.
In a preliminary budget, $4 million has been set aside to fund exploration. Of that, $2.8 million will come from Rohstoff, with SensOre to contribute the remaining $1.2 million.
Both parties will work to finalise the joint venture, secure access to high priority targets and commence fieldwork as soon as practicable.
Collaboration in battery metals space
SensOre CEO Richard Taylor said: “SensOre’s joint venture with Deutsche Rohstoff represents a further step in the evolution of our company with our expansion into AI-enhanced lithium targeting, realising value from investment in the Data Cube.
“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.”
Deutsche Rohstoff CEO Thomas Gutschlag said: “Deutsche Rohstoff has been impressed by the initial targets generated by SensOre and the practical application of their technology.
“We look forward to testing some of the exciting targets in the field. We have a successful track record of investing in Australia.
“As a result, we believe strongly in collaboration between Germany and Australia and the potential in the battery metals space.”
Teaming with leading gold explorer
Beyond lithium exploration, SensOre is also working to develop other natural resources with South Australia’s leading gold explorer.
The company has secured Barton Gold as a new client, and SensOre will use its artificial intelligence and machine learning DPT® technology to explore for copper and gold in the Gawler Craton.
The deal, worth up to $400,000, will add further information to SensOre’s South Australia data cube from the regions surrounding Barton’s tenements.
Subject to production from new gold and copper targets identified with the DPT® technology, SensOre will also be entitled to additional royalty fees linked to gold ounces produced (or copper equivalent) across Barton’s exploration tenure.
Under the contract, Barton Gold will also join SensOre’s South Australian gold and copper prospectivity mapping initiative, which includes other ASX listers like Hillgrove Resources Ltd (ASX:HGO), Argonaut Resources NL (ASX:ARE) and Aroha Resources Ltd.
SensOre and Barton Gold will now advance the terms sheet to a detailed binding agreement ahead of commencement.
“An important milestone”
Taylor stated: “We are excited to collaborate with Barton Gold, which understands 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 shares were as much as 19.1% higher intraday to A$0.75.