When I wrote about geological mapping potentially requiring infrequent coverage, I was unsure if specific imagery is required for new interpretation software. By that I mean to ask, can new smarts be used on old data, or may it require new areal coverage, or a bit of both?
This evening I was looking into nickel mining in WA, and I read, "In FY19, IGO made significant breakthroughs in the interpretation of the 3D seismic dataset that covers the Nova Mining Lease. This resulted from the ability to predict the location of the mafic and ultramafic intrusions that may host Ni-Cu sulphide mineralisation at depths exceeding 500 metres. Deep drilling through these targets confirmed the presence of thick (500m to 1,000m) mafic-ultramafic intrusions, similar in size and composition to the Nova upper intrusion, carrying widespread three-phase Fe-Ni-Cu sulphide disseminations and blebs."
"Mafic" means dense rock, and "blebs" are bubble-like intrusions of one mineral within another.
It seems that a great deal of what may be called AI has crept into the mining game, and some significant discoveries have been made revisiting old data - Google "BHP "old data" Oak Dam",and you will see what I mean. The point I want to make is that if NEA develops, or acquires, AI applications in fields like geology, it is the AI that becomes important and saleable, with the acquired data being a nice-to-have. The site https://unearthed.solutions/ would suit folk with an interest in AI applications.
A discovery like Oak Dam would be worth hundreds of millions to BHP, or at least tens of millions, so what is lost by the customer base being small, is made up by the value being huge.
NEA Price at posting:
$2.32 Sentiment: Hold Disclosure: Held
