Macarthur signs agreement with Canaria Technologies on cutting-edge safety technology
September 17 2020 - 12:01AM
Macarthur Minerals Limited
(ASX: MIO)
(TSX-V: MMS) (OTCQB: MMSDF) (the
“Company” or “Macarthur”) announces that it has signed an Agreement
(“Agreement”) with Canaria Technologies Pty Ltd (“Canaria”) to
facilitate the introduction, testing and potential use of Canaria’s
Biometrics Safety System at the Company’s flagship Lake Giles Iron
Project (“Project”) in the Yilgarn region of Western Australia.
Predictive Biometric Systems are a new field of
science, combining live and historical data about a user’s body and
vital signs with cutting edge Artificial Intelligence to predict
future medical or human safety-based incidents.
Canaria pairs the data science of predictive
biometric systems with medical-grade hardware to create predictive
wearable devices, able to measure a user’s movement, breathing,
heart rate, temperature and level of physical distress, to
anticipate serious safety issues through hazard identification and
prevention. Further details of the Canaria predictive biometric
system technology are available at the following link:
https://canariatechnologies.com/tech.
Under the Agreement, Canaria will initially
supply Macarthur with a small number of devices for a ~4 week heat
stress, user testing period, through the Australian summer season
2020/2021, during which time environmental surveys will be
undertaken at the Project site. Further testing will take place if
the Project proceeds to the construction phase following successful
completion of the Feasibility Study and completion of financing for
the Lake Giles Iron Project.
Predictive biometrics systems can provide many
operational efficiencies including enhancing productivity,
increasing overall employee wellness and improving the bottom line.
Macarthur’s Lake Giles Iron Project provides an opportunity to
realise these benefits for the Company, and to establish it as a
technology leader in the resources sector by carving a path as one
of the first true “Industry 4.0” sites.
Alex Moss, CEO of Canaria Technologies
commented:
“Canaria Technologies is very pleased to be
working with Macarthur to showcase what the capabilities of a next
generation Industry 4.0 site are. Starting with the new field of
predicting, rather than detecting, the most crippling health and
safety issues in the resources sector: cognitive fatigue and heat
exhaustion. Together, we can ensure that all Macarthur employees
can get home safely every day.”
Andrew Bruton, Executive General Manager
(Corporate) and Company Secretary of Macarthur Minerals
commented:
“The potential benefits of this technology to
the Company’s bottom line in respect of insurances, productivity
loss, absenteeism and asset damage is self-evident, however
Macarthur’s strong commitment to the safety and wellbeing of our
employees and contractors is our primary incentive for partnering
with Canaria. Macarthur is committed to ensuring that it builds a
company that prioritises the safety of its employees and everyone
who works with us.
Heat stress and cognitive fatigue can be a very
real issue in the extreme environments of Western Australia’s iron
ore regions. Macarthur is investing in testing the potential for
Canaria’s medical-grade wearable devices not only to reduce the
number of accidents and injuries caused by these issues, but also
to prevent them from occurring in the first place. That’s the real
value of the potential in this technology.
This is another positive step for Macarthur as
we demonstrate our approach to responsible and sustainable
development and our desire to take the lead on important
technology-lead industry-changing initiatives that benefit workers.
It’s our commitment to ensuring that every member of our future
Macarthur “family” returns home safely to their own families, every
day.”
On behalf of the Board of Directors, Mr Cameron McCall,
Executive Chairman
For more information please contact:
Joe PhillipsCEO & Director+61 7 3221
1796communications@macarthurminerals.com |
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Investor Relations –
AustraliaAdvisirSarah Lenard,
Partner sarah.lenard@advisir.com.au |
Investor Relations -
CanadaInvestor CubedNeil Simon, CEO+1 647 258
3310info@investor3.ca |
About Canaria Technologies Pty
LtdCanaria is a niche digital technologies company that
offers predictive biometric capabilities. They use highly accurate
predictive biometric systems for dual real-time prediction of heat
exhaustion and cognitive fatigue in the resources sector. Canaria
Technologies prides itself equally on commercialising solutions to
life-threatening problems as it does on furthering scientific
progress through Research and Development – with the goal of
ensuring everyone gets to go home safely at the end of each day.
Led by founders Alex Moss and Dr Rob Finean, Canaria Technologies
has worked hard to put together the best team possible to ensure
their predictive biometric systems are at the forefront of the
industry and continually making a difference.
Company profileMacarthur is an
iron ore development, gold and lithium exploration company that is
focused on bringing to production its Western Australia iron ore
projects. The Lake Giles Iron Project mineral resources include the
Ularring hematite resource (approved for development) comprising
Indicated resources of 54.5 million tonnes at 47.2% Fe and Inferred
resources of 26 million tonnes at 45.4% Fe; and the Lake Giles
magnetite resource of 53.9 million tonnes (Measured), 218.7 million
tonnes (Indicated) and 997 million tonnes (Inferred). Macarthur has
prominent (~721 square kilometer tenement area) gold, lithium and
copper exploration interests in Pilbara region of Western
Australia. In addition, Macarthur has lithium brine Claims in the
emerging Railroad Valley region in Nevada, USA.
This news release is not for
distribution to United States services or for dissemination in the
United States
Caution Regarding Forward Looking
StatementsCertain of the statements made and information
contained in this press release may constitute forward-looking
information and forward-looking statements (collectively,
“forward-looking statements”) within the meaning of applicable
securities laws. All statements herein, other than statements of
historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future, including but not limited to statements regarding
expected completion of the Feasibility Study; conversion of Mineral
Resources to Mineral Reserves or the eventual mining of the
Project, are forward-looking statements. The forward-looking
statements in this press release reflect the current expectations,
assumptions or beliefs of the Company based upon information
currently available to the Company. Although the Company believes
the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees
of future performance and no assurance can be given that these
expectations will prove to be correct as actual results or
developments may differ materially from those projected in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include but are not limited to: unforeseen technology changes that
results in a reduction in iron or magnetite demand or substitution
by other metals or materials; the discovery of new large low cost
deposits of iron magnetite; the general level of global economic
activity; failure to complete the FS; inability to demonstrate
economic viability of Mineral Resources; and failure to obtain
mining approvals. Readers are cautioned not to place undue reliance
on forward-looking statements due to the inherent uncertainty
thereof. Such statements relate to future events and expectations
and, as such, involve known and unknown risks and uncertainties.
The forward-looking statements contained in this press release are
made as of the date of this press release and except as may
otherwise be required pursuant to applicable laws, the Company does
not assume any obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
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