The Conversation (0)
SensOre Ltd (ASX:S3N) through its subsidiary EXAI (SensOre/Deutsche Rohstoff AG) have reachedagreement with Venture Minerals (ASX:VMS) to farm-in to the Golden Grove North project on the terms above.
Highlights
- SensOre subsidiary, Exploration Ventures AI Pty Ltd (EXAI), a collaboration with Deutsche Rohstoff AG1have reached agreement with Venture Minerals to farm-in to the Golden Grove North project
- SensOre’s AI technology has identified copper (VMS) and lithium potential at Golden Grove North
- EXAI may earn 70% in all mineral rights (excluding rare earths) by expending up to $4.5m in two stages ($1.5m to earn a 51% over two years and $3m for an additional 19%).
- Venture Minerals has an option to clawback 10% within the first 2 years on certain conditions
- As part of the initial RC drilling program, EXAI has agreed to test the Vulcan Drill2rare earth target with a single hole to 300m.
Richard Taylor, SensOre CEO, said: “We are excited about both the copper and lithium potential of the area. With our partners at Deutsche Rohstoff, we are building a compelling portfolio of lithium projects and honing new techniques for discriminating lithium fertility over large areas. We bring to the joint-venture with Venture Minerals a growing body of R&D from Western Australia to New South Wales on how to narrow in on Australia’s next generation lithium targets.”
The land package is a total of 288 square kilometres, less than 10 kilometres north of the Golden Grove mine, currently Western Australia’s premier location for VMS deposits and is approximately 370 km north-northeast of Perth (see Figure 1 next page). Venture Minerals has explored for VMS copper and identified the Vulcan rare earths target.
SensOre’s AI technology has identifiednewareas for VMS copper potential and in mid-2022 SensOre AI technology deployed over Western Australia predicted unidentified and untested lithium potential over the northern portion of the greenstone belt covered by the tenements. The predicted targets are considered consistent with the recognition of an emerging lithium pegmatite province over the greater Murchison region.
Geology covered by the Joint Venture tenements includes the northern part of the Yalgoo-Singleton greenstone belt in the Murchison province. The greenstone belt is intruded by multiple phases of granitic intrusions of various compositions and ages including LCT pegmatites. The lower Luke Creek volcanic sequence in the east and north of the tenement package hoststhe Golden Grove VMS camp of deposits to the south. VMS style copper, zinc, gold mineralisation has been located on the northern portion of the greenstone belt at the Orcus prospect.
Figure 1: Golden Grove North Tenements Over Combined Geophysics (Gravity and Magnetics)
About SensOre
SensOre (ASX: S3N) aims to become the top performing global minerals targeting company through deployment of big data, artificial intelligence/machine learning technologies and geoscience expertise. SensOre’s three business pillars are software, technology and exploration services. SensOre collects all available geological information in a terrane and places it in a multidimensional hypercube or data cube. SensOre’sbig data approach allows DPT predictive analytics to accurately predict known endowment and generate targets for further discovery.
Click here for the full ASX Release
This article includes content from SensOre Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
S3N:AU
