WA-based explorer and software firm inks deal with Barton Gold
Binding agreement marks Phase 2 partnership in prospective South Australian gold and copper fields
Source: iStock
Mentioned
KEY POINTS
- Spans 60,000 sq km zone in South Australia’s central Gawler Craton
- Includes development and trials of Discriminant Predictive Targeting (DPT) technology, adopted previously in WA
- Phase 1, from June 2022, identified multiple prospective new gold and copper targets
Junior explorer and software developer SensOre Ltd (ASX: S3N) has formed a research and development partnership with South Australian miner Barton Gold Holdings (ASX: BGD).
The deal will see SensOre adapt its Western Australian artificial intelligence and machine learning technology for use in the central Gawler Craton. This is a central South Australian region where Barton holds around 60,000 sq km of gold and copper tenements.
Barton tenements in Gawler Craton, South Australia
Phase 1 (yellow) and Phase 2 (white) areas of exclusivity
The new stage of collaboration between the two companies marks the start of Phase 2 development. This will apply SensOre’s Discriminant Predictive Targeting (DPT) technology within the R&D partnership area, as detailed in the above graphic.
“We’re very happy to be working with a development team of Barton’s calibre, to leverage their significant existing development platform of 1.1 million ounces in a richly mineralised, but underexplored, domain,” says SensOre CEO Richard Taylor.
“We anticipate that the combination of Barton’s existing mineralisation, its ownership of the region’s only gold mill, and the upside potential of our machine learning applications will present exciting future opportunities.”
Phase 2 kicks off
Under the Phase 2 R&D partnership, Barton will contribute up to $350,000 to develop DPT in the central Gawler Craton, according to a joint announcement issued by Barton and SensOre.
SensOre will also provide its extensive private data sets for integration into a South Australian “data cube”. This data will be used as Barton refines the DPT targeting model and conducts exploration drilling in the area.
Further agreement conditions
Barton will be entitled to 10 years’ exclusive use of the South Australian DPT module for gold and copper within an initial area of approximately 60,000 sq km. During this period, SensOre will not compete with Barton to acquire gold or copper targets in the area; and
SensOre will become entitled to additional benefits, via royalties linked to the potential volumes of gold and copper produced, subject to the successful production of mineralisation targets identified by the South Australian DPT module.
Barton will provide further updates as Phase 2 development and trialling progresses.
Previous milestone
This follows the Phase 1 regional prospectivity mapping, where Barton contributed $45,000 to development in an arrangement that identified multiple prospective gold and copper targets.
Disclaimer: Market Index helps small-cap ASX-listed companies connect with Australian investors through clear and concise articles on key developments. SensOre was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.
