From my earlier series of posts, you can, I think, now appreciate that #mineralfindertechnology (MFT) responds well to some of the key challenges of greenfield and brownfield exploration.
Taking only 17 weeks to develop an accurate 3-dimensional map of a resource body, #MFT helps significantly reduce the typical 5-year exploration cycles.
Because it provides ore body maps with over 50,000 data points and average 94% accuracy, it can significantly reduce (by up to 80%) the fifty million to hundreds of millions usually spent on drilling.
With dwindling resources and more complex locations, by reducing the time spent in, ... and resources deployed to the field, ... and by reducing cost, … more tenements can be explored, … so MFT can also significantly increase success rates, … and reduce risk.
What does one invest in an MFT project? That depends on the size of the area to be analysed and mapped but it’s less than 20% of traditional exploration method costs. Typically Phase 1 is around 60% of the budget, and Phase 2 is 40%.
There are alternate investment options that are results based; for example, where you can pay, over time, a percentage of the drilling cost saved over the following years.
One MFT client, after testing the technology across several greenfield exploration projects became so confident in the reliability, accuracy, and speed of the MFT technology that they changed their business model. They moved from a focus on the long cycle of operating mines to a focus on the short cycle of buying tenements, exploring them thoroughly with MFT and minimal drilling, then selling the certified reserve within one year at a significant multiple of the purchase and exploration costs.
As I’ve said before, this has the potential to be a game changer for mineral exploration.
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