Fleet Space Technologies has established a ground-breaking collaboration with Thor Energy PLC that aims to redefine the company’s mineral exploration processes through cutting-edge space-enabled technology.
Utilising Fleet’s state-of-the-art EXOSPHERE technology alongside Thor’s exploration expertise, the partnership aims to revolutionise the understanding of the Alford East Copper-REE Project on South Australia’s Yorke Peninsula. It will support more precise and efficient drilling and deliver the site’s potential with less impact.
The project will initially drive surveys using Fleet’s EXOSPHERE technology over the northern part of Alford East, harnessing natural environmental vibrations to analyse the Earth’s composition at significant depths. The data will then be integrated into Thor’s existing 3D geological model to build a comprehensive understanding of the structural and lithological controls on mineralisation to identify potential drill targets.
As part of the venture, Fleet has also invested in Thor Energy, signifying the long-term commitment to the project of both parties.
Chief Financial Officer and Financial strategy & Investment Officer at Fleet, Federico Tata Nardini, said the investment was part of an extraordinary period of growth for Fleet.
“This partnership between Thor Energy and Fleet Space Technologies is further testament to what is possible when we fuse world-class exploration expertise with cutting-edge space technology,” said Mr Tata Nardini.
“We are proud to work with an increasing number of the world’s most progressive exploration companies to deliver faster, more accurate and ultimately less impactful exploration practices.
“By taking an equity stake in Thor Energy we signal our long-term commitment to redefining how minerals are found at their Alford East Project and beyond.”
Managing Director of Thor Energy, Nicole Galloway Warland explained this partnership represents the companies’ shared commitment to accelerating mineral exploration and leveraging technology to redefine industry standards.
“The satellite enabled exploration approach made possible by Fleet’s Exosphere technology is driving greater efficiency and accuracy across the industry,” said Ms Galloway Warland.
“We are delighted that Fleet has signalled its intent for a long-term collaboration at Alford East by taking a stake in Thor Energy that sees us become partners in innovation as we work together to redefine exploration practices for the better.”