- Mining tech firm Orexplore Technologies (OXT) signs a $2.35 million commercial agreement with Oz Minerals (OZL) for its services
- Under the binding agreement, Orexplore will deliver about 30,000 metres of historic site-based drill core and sample scanning services for Oz Minerals
- This work will advance orebody knowledge and resource to reserve conversion processes
- The term of the agreement will conclude on the fulfilment of the purchase order expected to occur over a six-month period
- Shares in Orexplore are up 71.2 per cent, trading at 12.5 cents and shares in Oz Minerals are up 2.18 per cent, trading at $17.34 as of 1:56 pm AEST
Mining tech firm Orexplore Technologies (OXT) has signed a $2.35 million commercial agreement with Oz Minerals (OZL) for its services.
Under the binding agreement, Orexplore will deliver about 30,000 metres of historic site-based drill core and sample scanning services for Oz Minerals over six months.
This work will advance orebody knowledge and resource to reserve conversion processes.
Orexplore Managing Director Brett Giroud said the agreement further demonstrates increasing demand for non-destructive, 3D information sourced rapidly from the field to inform decision processes.
“The in-field deployment of Orexplore’s patented Technology Platform provides an innovative new data set to OZ Minerals through the technology’s ability to “see through
the core” in addition to its full surface sensing capability.
“This unique combination can unlock a broad suite of information from deep within the core to further advance orebody knowledge.”
The agreement is said to be significant to Orexplore as it represents a fully commercial site deployment of Orexplore’s ore body knowledge value proposition powered by the Technology Platform.
The Technology Platform includes Orexplore’s field sensing GeoCore X10 hardware product that rapidly extracts information from drilled core in less than 15 minutes per metre, and its insight software.
This software allows remote geological decision makers anywhere in the world to analyse and interpret results to improve ore body knowledge acquisition.
Shares in Orexplore rose 71.2 per cent, trading at 12.5 cents and shares in Oz Minerals are up 2.18 per cent, trading at $17.34 as of 1:56 pm AEST.