Fleet Space's ExoSphere Advances Barrick Gold's Copper Exploration at Reko Diq

Fleet Space's ExoSphere Advances Barrick Gold's Copper Exploration at Reko Diq
by Simon Mansfield
Sydney, Australia (SPX) Jul 10, 2024

Fleet Space Technologies, a leading Australian space exploration company, has announced the deployment of its comprehensive mineral exploration solution, ExoSphere, to support Barrick Gold's copper exploration efforts at the Reko Diq project in Pakistan. Utilizing advanced space technology, AI, and 3D multiphysics, ExoSphere is creating detailed 3D subsurface maps of groundwater systems and copper porphyry complexes across more than 1,150 km2 of the Reko Diq site.

"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 and 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."

The Reko Diq project is a crucial part of Barrick Gold's copper portfolio and is among the largest undeveloped copper-gold deposits globally. Located within the Chagai mountain range's volcanic centers and the Tethyan Magmatic Arc, this area is rich in significant copper-gold ore deposits. With production slated to start in 2028, Reko Diq is expected to significantly impact Pakistan's economy, providing jobs, development investments, and economic growth in the Balochistan province in alignment with Barrick Gold's sustainability commitments.

ExoSphere's comprehensive architecture provides new insights and predictive capabilities, optimizing outcomes and streamlining operations throughout the exploration process. By utilizing Fleet Space's low Earth orbit satellite network, smart seismic sensors with edge computing, and fast data processing, ExoSphere offers real-time 3D mapping of mineral systems and AI-driven drill targeting with minimal environmental impact. This approach accelerates the data journey, enhancing exploration efficiency and precision by providing remote teams with actionable insights in real-time.

By simplifying data acquisition, processing, integration, and insight delivery through space technology and AI, ExoSphere improves decision-making speed and quality while reducing environmental impacts. The sustainability benefits and innovative capabilities of ExoSphere were recently recognized at Banksia Foundation's 35th National Sustainability Awards, where it won the Climate Technology Impact Award for 2024. ExoSphere's rapid global adoption has fueled Fleet Space's significant growth over the past year, highlighted by a A$50 million Series C funding round, a doubling of its valuation to A$350 million, plans to send an ExoSphere variant to the Moon in 2026, and recognition as Australia's fastest growing company.