13th August 2021
Artificial intelligence-based geological data analytics company OreFox has successfully secured significant funding via the Queensland METS Collaborative Projects Fund which is delivered by METS Ignited with funding support from the Queensland Government as part of its Queensland Mining Equipment, Technology and Services 10 Year Roadmap and Action Plan.
OreFox is working with QMines Limited (ASX:QML) and Ironbark Marketing to further commercialise their innovative technology that solves a pressing challenge facing the Queensland mining sector of how to accelerate critical mineral deposit discovery and mine more efficiently.
The consortium led by OreFox will use cutting edge proprietary AI technology to gain further knowledge of the Mt Chalmers deposit, located near Rockhampton. As a historical producing mine, there is significant potential to increase the known mineral endowment and add new economy mineral opportunities.
QMines currently has commenced ongoing exploration activities across the Mt Chalmers project, including an aggressive drilling program and an airborne EM survey. QMines has reported an initial JORC 2012 Inferred Resource equal to 73,000 tonnes of contained copper. Historical drilling at the site shows the mineralisation is open in multiple directions.
The consortium will carry out a comprehensive multi-element geochemical sampling program focused on critical minerals at the mine site and other notable prospective sites around the exploration permit.
Data collected from this program, including assays from the current drilling program, will be processed by OreFox, using their proprietary machine and deep learning systems to gain further insights. QMines believes the discovery of further economic minerals within the exploration permits will enable the company to move to development faster, thus bringing economic benefits to the region and the state.
QMines has recently acquired Traprock Resources Pty Ltd and Rocky Copper Pty Ltd who both held significant tenements in the Mt Chalmers region. QMines has extended the Exploration Permits for Minerals over the area.
OreFox Chief Executive Officer, Warwick Anderson said OreFox is using deep learning algorithms and machine learning methodology to map the geology of the Mount Chalmers mine site.
“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.
“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,” said Anderson.
The Orefox project is one of five recipients of the Queensland METS Collaborative Projects Fund receiving a share in $1 million to accelerate the commercialisation of technology into industry.
METS Ignited CEO Adrian Beer said the Growth Centre is backing the collaborative projects to fast-track the commercialisation of innovative technologies and provide value to both the local and global resources sector.
“METS Ignited 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.
“We are backing projects using technologies such as sensors, data analytics, machine learning, optimised x-rays, and solar energy, and resulting in improvements in productivity, efficiency, safety and sustainability.
“The Orefox project is a great example of how AI and data science technologies can be harnessed to improve deposit grading and tailings processing systems and unlock the economic benefits of a historical mine site,” Adrian Beer said.
For more information about this release, or to request an interview or images, contact:
+61 406 702 177
OreFox uses artificial intelligence and machine learning approaches to allow companies to maximise efficiency and success in discovering critical mineral resources. With a proven track record, OreFox helps mining customers get the most out of their geological data, putting them at the centre of geological data science innovation.
About Queensland METS Collaborative Projects Fund
The Queensland METS Collaborative Projects Fund is delivered by METS Ignited with funding support from the Queensland Government as part of its Queensland Mining Equipment, Technology and Services 10 Year Roadmap and Action Plan.
About QMines Limited
QMines Limited (ASX:QML)(FSE:81V) is seeking to become Australia’s first zero carbon copper and gold developer. The Company’s flagship project, Mount Chalmers, is a high-grade historic copper and gold producer. The project has an existing resource, three Exploration Targets (JORC 2012) and a large drilling program (+30,000) designed to provide shareholders with leverage to a number of pricing catalysts. Further information can be found at www.qmines.com.au.