OreFox has secured funding that will see the geological data analytics company further commercialise its cutting-edge proprietary artificial intelligence (AI) technology to assist the Queensland mining sector.
The funding comes as part of the Queensland METS Collaborative Projects Fund – an initiative by the Queensland Government and administered by METS Ignited.
It will see OreFox, in collaboration with QMines and Ironbark Marketing, implement their AI technology to gain further knowledge of the Mt Chalmers deposit near Rockhampton.
The three-way consortium will carry out a comprehensive multi-element geochemical sampling program focussed on critical minerals at Mt Chalmers and other prospective sites around the historic mine.
This will see OreFox use its proprietary AI technology and deep learning systems to collect data from the program, including assays from the current drilling program, with the aim of further unlocking Mt Chalmers’ potential.
“This project has the potential to increase exploration activity in Queensland, particularly for new economy minerals and could be applied to numerous other historical mines and deposits,” OreFox chief executive officer Warwick Anderson said.
“The partnership between OreFox, QMines and Ironbark Marketing is anticipated to bring more regional jobs to Queensland and aid Queensland exploration frontiers.
“If we can prove the value of this project, then that opens the door to a significant export market for the processes we are developing.”
METS Ignited chief executive officer Adrian Beer said his company is driving collaborative projects to accelerate commercial outcomes for the Australian economy and promote collaboration opportunities as part of a long-term strategy for growth.
“The OreFox project is a great example of how AI and data science technologies can be harnessed to improve exploration and unlock the economic benefits of a historical mine site,” Beer said.
The OreFox project is one of five recipients of the $1 million Queensland METS Collaborative Projects Fund, aimed at accelerating the commercialisation of technology in the industry.