LONDON: Thor Energy Plc, a mineral exploration company, has teamed up with Fleet Space Technologies, a space technology company, to use its EXOSPHERE BY FLEET® technology to survey the Alford East Copper-REE Project in South Australia.
The technology uses Ambient Noise Tomography (ANT) to scan the ground for low velocity zones that host oxide copper-REE mineralisation. The data is processed and transmitted through Fleet’s satellites, which were launched by SpaceX.
Fleet will also use Artificial Intelligence (AI) and Machine Learning (ML) to integrate the ANT results with Thor’s 3D geological model and generate new drill targets for higher-grade oxide copper-gold mineralisation.
The drill targets will be focused on areas suitable for In-Situ Recovery (ISR), a low environmental impact method of extracting minerals.
An investment fund associated with Fleet Space will invest $250,000 in Thor via a share subscription at $0.04 per Share. The shares will be subject to voluntary escrow for 12 months.
Nicole Galloway Warland, Managing Director of Thor Energy, said that the collaboration with Fleet Space will accelerate mineral exploration at the Alford East Project and bridge the divide between space technology and mineral exploration.
Federico Tata-Nardini, Chief Financial Officer of Fleet Space Technologies, said that the partnership will redefine mineral exploration through the innovative integration of space technology and unlock a realm of opportunities for highly targeted drilling campaigns and expedited exploration endeavours.