Orexplore Technologies (ASX:OXT) has signed a binding $1.55 million agreement with BHP (ASX:BHP) for a field deployment at the Carrapateena mine in South Australia.
Under this agreement, the $4.76 million market capitalisation company will deliver site-based drill core and sample digitisation services for BHP.
Orexplore shares have spiked 128.26% to $0.10.5 as of 12:30pm this afternoon.
This work will be focused on adding value to the operations through multiple Orexplore solutions unlocking new rock mass characterisation and geometallurgical information to advance the short- and medium-term mining and operational planning and decision processes.
The key terms of the agreement include the delivery of site-based drill core and sampling scanning and analysis services for BHP. Orexeplore will initially scan and analyse roughly 15,000m of drill core and samples to demonstrate the integration of its solutions into the site’s operational workflows.
The term of the agreement will conclude on the fulfilment of the purchase order, which is expected to occur over a 7-month period. The agreement is exclusive to both parties.
Orexplore intends to work with the operations team to embed new information flows into the site processes and systems as part of the installation of 3 GeoCore X10 units into the core farm. The team will seek to transform traditional core logging and analysis processes through augmented logging and advanced Machine Learning (ML)-based analysis methods.
Commenting on the agreement, Orexplore Managing Director Brett Giroud says: “Orexplore is working in close collaboration with the BHP TAD team that is leading the way in the successful adoption of transformational technologies, such as the Orexplore technology platform.
“The in-field deployment of Orexplore’s patented Technology Platform provides an innovative new dataset to BHP“
This agreement further demonstrates increasing global demand for non-destructive 3D information sourced rapidly from the field to inform decision processes, drive traditionally siloed collaboration around digital models, and create value within an operating mine.
The in-field deployment of Orexplore’s patented Technology Platform provides an innovative new dataset to BHPtthrough the technology’s ability to ‘see through the core’ in addition to its full surface sensing and advanced modelling and analysis capabilities.”
Orexplore says the signing of this agreement with BHP is ‘significant’ as it represents a subsequent deployment of the company’s OBK solutions for BHP alongside new rock-mass characterisation and geometallurgical solutions, which are all embedded into the core farm of a fully operational mine.
Orexplore Technologies is a mineral technology company focused on advancing the commercialisation of its Technology Platform across the mining sector. The Technology Platform consists of the GeoCore GX10 hardware product and the Orexplore Insight software.
Write to Aaliyah Rogan at Mining.com.au
Images: Orexplore Technologies
