ADELAIDE, Australia, July 9, 2024
/CNW/ -- Fleet Space Technologies, Australia's leading space exploration company,
today announced the deployment of its end-to-end mineral
exploration solution, ExoSphere, to advance Barrick Gold's copper exploration at its Reko
Diq project in Pakistan. Powered
by the latest advances in space technology, AI, and 3D
multiphysics, ExoSphere is being used to generate 3D subsurface
maps of local groundwater systems and copper porphyry complexes for
multiple zones of interest, comprising over 1,150 km2 of the Reko
Diq project.
"Barrick Gold and Fleet Space are
united in our use of cutting-edge technologies to enhance mineral
discovery and unlock sustainability benefits across the exploration
journey," said Flavia Tata Nardini,
Co-Founder & CEO of Fleet Space Technologies. "By applying the
latest innovations in space, AI, and 3D multiphysics to copper
exploration, we demonstrate a more sustainable, scalable path to
achieve the copper supply needed for our clean energy future, in
alignment with the United Nations' Sustainable Development Goals
(SDGs). We are proud to deploy ExoSphere to advance Barrick Gold's ESG objectives and support the
development of a world-class operation at Reko Diq."
Reko Diq is a strategic part of Barrick
Gold's copper portfolio and represents one of the largest
undeveloped copper-gold projects in the world. The area is one of
several volcanic centers in the Chagai mountain range and part of
the Tethyan Magmatic Arc which is known to contain significant
copper-gold ore deposits of various grades. With plans to begin
production in 2028, Reko Diq is poised to be a major contributor to
Pakistan's economy, delivering
employment opportunities, investment in development programs, and
regional economic growth in the Balochistan province in line with Barrick Gold's sustainability pillars.
ExoSphere's end-to-end architecture unlocks new insights and
predictive capabilities to enhance outcomes and streamline
operations at every stage of the exploration process. Leveraging
Fleet Space's satellite network in low Earth orbit, smart seismic
sensors enabled with edge computing, and rapid data processing -
ExoSphere delivers real-time 3D mapping of mineral systems and
AI-powered drill targeting with near-zero environmental impact.
This process enables a faster and more efficient end-to-end data
journey, making exploration activities more dynamic and precise by
giving remote onsite teams access to actionable insights in
real-time.
By radically simplifying data acquisition, processing,
integration, and insight delivery with space technology and
AI, ExoSphere enhances the quality and speed of decision
making, while also reducing the environmental footprint of a
project. The sustainability benefits and innovative capabilities of
ExoSphere were recently recognised at Banksia Foundation's 35th
National Sustainability Awards, winning the Climate Technology
Impact Award for 2024. ExoSphere's rapid global adoption has
propelled Fleet Space's exponential growth over the past year,
including a A$50 million Series C
funding round, a doubling of its valuation to A$350 million, plans to send a variant of
ExoSphere to the Moon in 2026, and recognition as Australia's fastest growing company.
About Fleet Space Technologies
Fleet Space
Technologies, Australia's leading
space company, is revolutionising humanity's search for critical
minerals, space exploration, and defence with its satellite-enabled
solutions and AI-powered, end-to-end mineral exploration
technology, ExoSphere by Fleet®. Headquartered at the
national centre of Australia's
space industry in Adelaide, Fleet
Space has expanded its global footprint to the US, Canada, Chile, and Luxembourg with over 120+ employees worldwide.
In 2023, Fleet Space was named Australia's fastest growing company by the
Australian Financial Review.
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SOURCE Fleet Space