In a significant move demonstrating the power of combining space technology with mineral exploration, Fleet Space Technologies (“Fleet”) announced a collaboration with Thor Energy Plc (“Thor”). The companies say the partnership will redefine the mineral exploration methodologies at the Alford East Copper-REE Project in South Australia.
Central to this collaboration is the integration of Fleet’s state-of-the-art EXOSPHERE BY FLEET® technology. This technology, when combined with Thor’s exploration expertise, promises to accelerate the realization of the project’s potential. The aim is to achieve faster, more precise, and sustainable exploration practices, reducing overall environmental impact, according to the company.
Fleet’s technology uses advanced Artificial Intelligence (AI) and Machine Learning (ML) techniques to integrate geophysical and geological data sets, culminating in a detailed 3D model of the exploration site. The collected data is quickly processed and relayed via Fleet’s network of low earth orbit satellites.
The partnership also introduces the use of ANT surveys over the northern sector of the Alford East Project. By harnessing natural environmental vibrations, this exploration technique can provide insights into the Earth’s composition at considerable depths. The incorporation of data from these surveys with Thor’s existing geological models is expected to lead to a clearer understanding of mineral-rich zones.
Nicole Galloway Warland, Managing Director of Thor Energy, expressed her enthusiasm about the partnership, noting that the satellite-enabled exploration approach powered by Fleet’s Exosphere technology promises to bring new levels of efficiency and accuracy to the industry.
Reiterating their commitment to the project, Fleet took an equity stake in Thor Energy. This decision follows Fleet’s recent news, including completing their Series C fundraising round and securing contracts with globally renowned exploration companies such as Rio Tinto and Barrick Gold.
“We are delighted that Fleet has signalled its intent for a long-term collaboration at Alford East by taking a stake in Thor Energy that see us become partners in innovation as we work together to redefine exploration practices for the better,” the managing director said.
The Alford East Copper-REE Project, located on the picturesque Yorke Peninsula in South Australia, remains a crucial focus for Thor Energy. With Fleet’s technology integration, expectations are high for revolutionized exploration strategies, enabling more informed decision-making processes and efficient drilling campaigns.
About Fleet Space Technologies
An Australian frontrunner in the space sector, Fleet Space Technologies operates at the forefront of bridging the connection between Earth, Moon, and Mars. With their groundbreaking products and connectivity solutions, they made significant strides in mineral exploration, defence, and space exploration domains. Based out of Adelaide, South Australia, the company has a global footprint, including presence in the US, Canada, Luxembourg, and Chile.
About Thor Energy Plc
Specializing in mineral exploration, Thor Energy Plc is known for its innovative approach in discovering valuable resources. With its advanced geological and technological methods, the company is steadfast in its mission to redefine exploration in the minerals sector.