Barton Gold Holdings Limited (ASX: BGD) has signed terms with SensOre Ltd (ASX:S3N) (SensOre) for an exclusive R&D investment partnership surrounding its projects in South Australia.
Barton and SensOre will collaborate to adapt its artificial intelligence (AI) and machine learning (ML) DPT targeting engine to the central Gawler Craton in South Australia. Barton will then test and validate targets predicted by the South Australian DPT module, with a focus on gold and copper mineralisation with in a ~60,000 sq. km area surrounding its tenements.
Background & Key Objectives
The R&D Partnership is focused on accelerating development of AI and ML technologies trained on and adapted to the target area, with a specific focus on the traditional challenge of exploration under cover.
SensOre has developed a novel AI and ML-driven Discriminant Predictive Targeting (DPT) system to analyse thousands of layers and billions of points of geological data, and predict target patterns within this data, essentially seeking to identify the ‘fingerprint’ of mineral deposits utilising big data.
The DPT system was originally developed in the context of Western Australia. In its support of ML in exploration, Barton proposes to collaborate with SensOre to adapt DPT to the central Gawler Craton of South Australia, where the successful utilisation of AI and ML to ‘see between’ data layers and ‘defeat’ the traditional challenge of surface cover would be exceptionally impactful to regional mineral development.
Key Terms
Under the R&D Partnership:
- Barton will contribute A$45,000 to the development of Phase I regional prospectivity mapping, and up to a further A$350,000 to Phase II development of DPT applied to the target area;
- During Phase II, Barton will work with SensOre to integrate Barton’s extensive data sets into SensOre’s South Australian ‘data cube’ to refine and further train the DPT targeting engine in the target area; and
- Barton will trial the South Australian DPT module and drill test / validate DPT predicted targets. Further to the terms of agreement:
- Barton will be entitled to 10 year’s exclusive use of the South Australian DPT module for gold and copper within an initial ~60,000km2 area indicated by the white polygon, during which time SensOre will also not compete with Barton to acquire gold or copper targets therein; and
- Subject to the successful production of gold and/or copper mineralisation at new targets predicted by the South Australian DPT module, SensOre will become entitled to additional benefits in the form of royalties linked to the quantum of gold and copper produced.
Next Steps
Barton and SensOre will now prepare a detailed binding agreement incorporating the terms of the Terms Sheet along with other standard terms for an agreement of this nature. In the interim Barton will complete its Phase 1 Contribution and work with SensOre to prepare for Phase II DPT development and trialling.
Barton Gold Managing Director Alexander Scanlon said SensOre is on the cutting edge of new mineral exploration technologies and is a standout leader in its field.
“With strong foundations in practical applications, they are an ideal partner for Barton.
}Successful trials will further strengthen Barton’s regional strategic advantage with exclusive rights to the DPT technology for gold and copper over ~15% of the Gawler Craton, as we accelerate and consolidate a major new gold district,” Mr Scanlon said.
SensOre CEO Richard Taylor said his company. Is excited to join with a leading South Australian innovation-driven gold explorer to demonstrate the tremendous upside potential that machine learning can bring to exploration.
“Barton’s existing platform of 1.1Moz Au in a richly mineralised domain and ownership of the region’s only gold mill provides an excellent platform for a large-scale discovery and a proof of concept for our DPT engine and its commercial benefits.”
For further information please visit: https://bartongold.com.au/
