Mining services technology company SensOre (ASX:S3N) has reached an agreement with Gold Road Resources (ASX:GOR) to restructure arrangements surrounding the Yilgarn Exploration Ventures (YEV) portfolio.
SensOre, which deploys AI and machine learning (ML) technologies throughout the resources sector, has agreed to acquire Gold Road’s 40% minority interest in Yilgarn Exploration Ventures for 800,000 SensOre shares.
YEV holds a portfolio of ‘prospective’ gold assets in the Eastern Goldfields of Western Australia.
Commenting on the deal, SensOre CEO Richard Taylor says: “The restructure of the YEV joint venture simplifies the governance and administration of the YEV portfolio. We welcome Gold Road increasing its shareholding in SensOre. Gold Road has been an excellent partner and we look forward to ongoing collaboration on our technology.”
“The restructure of the YEV joint venture simplifies the governance and administration of the YEV portfolio”
SensOre aims to become the top performing minerals targeting company in the world through deployment of AI and machine learning (ML) technologies, specifically its Discriminant Predictive Targeting (DPT) workflow platform.
The company collects all available geological information in a terrane and places it in a hypercube or data cube. SensOre’s big data approach allows DPT predictive analytics to accurately predict known endowment and generate targets for further discovery.
SensOre’s DPT technology involves the application of new computer assisted statistical approaches and ML techniques across the workflow of mineral exploration. The workflow includes data acquisition, data processing, ML training and prediction, as well as analysis through DPT.
The company has acquired numerous data sets and used these to generate mineral system targets, which have been analysed and vetted by SensOre’s exploration geoscientists.
SensOre has built a tenement portfolio of ‘highly prospective’, wholly owned and joint ventured technology metals tenement packages located in Western Australia. As the capacity of SensOre’s AI technologies expand to new terranes and a broader range of commodities, the company anticipates that new targets will be identified and acquired in Australia and globally.
Write to Adam Orlando at Mining.com.au
Images: SensOre Limited
