Astute Metals has collaborated with Fleet Space Technologies to explore for large-scale copper and silver-zinc-lead deposits in the Northern Territory.
Astute will use Fleet Space’s ExoSphere ambient noise technology to help characterise the thickness of cover and explore for seismic velocity anomalies in basement rocks.
“I am very pleased with the collaborative partnership we have formed with Fleet Space to further unlock the significant potential of the Georgina project for Tier-1 base metal discoveries,” Astute chairman Tony Leibowitz said.
“As a leader in the development of exploration technologies, Fleet Space’s equity investment is a strong endorsement of the company’s projects, leadership, exploration approach and value-creation strategy.
“The Ranken collaboration brings Astute one step closer to unlocking the discovery potential of the broader Georgina project.”
Fleet Space director and chief financial officer Federico Tata-Nardini said the partnership would help to redefine mineral exploration.
“Fleet Space’s cutting-edge technology applied in partnership with Astute’s mineral exploration expertise has the potential to unlock significant discovery value in the prospective Georgina project,” Tata-Nardini said.
“This technology revolutionises resource exploration, opening the door to faster discoveries and precise drilling operations while minimising environmental impact.
“Reinforcing both parties’ dedication to the advancement of mineral exploration, Fleet Space will acquire an equity stake in Astute through a targeted share investment.”
Fleet Space has the option of taking up a direct equity stake in Astute of $400,000 at a subscribing price of $0.047 per share.
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