Tribe Technology PLC Preliminary Results for Tribe Tech's Sample System

RNS Number : 5546G

Tribe Technology PLC

02 October 2024

 

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.

 

2 October 2024

Tribe Technology PLC

 

("Tribe Tech", the "Company" or the "Group")

 

Preliminary Results for Tribe Tech's RC Sample System Technology

 

Tribe Technology PLC (AIM: TRYB), a disruptive technology-first developer and manufacturer of world-class autonomous mining equipment, is pleased to announce the preliminary results from testing of the Company's reverse circulation ("RC") sample system technology by Master Drilling Group Ltd ("Master Drilling") and our Tier 1 mining company client. Master Drilling and the Tier 1 mining company have been testing the Tribe Technology cyclone & sample splitter technology. This is anticipated be incorporated into the Tier 1 mining company's autonomous reverse circulation ("RC") TTDS GC 700 drill rig, although is also capable of being retrofitted to other drill rigs.

 

The preliminary results have shown a remarkable improvement in geological sample quality as measured by sample mass distribution across the A, B & C samples taken for each sample interval. More consistent sample masses at the drill rig are anticipated to lead to more comparable and consistent assay results, assisting the miners to make more accurate data-based mine planning decisions. The sample split mass acceptance criteria are outlined below as follows (see figure 1).

 

Figure 1. Sample Mass Quality Check

 

The preliminary results released indicate that the Tribe Technology sample system technology achieved circa 94% of samples falling within the "Good/Green" category, 6% in the "At Risk/Amber" category and 0% in the "Failed/Red" category.  This compares to the incumbent sampling systems which currently achieves only 47% in the "Good/Green" category, 32% in the "At Risk/Amber" category and 21% in the "Failed/Red" category. 

 

Additionally, the average split mass difference for the Tribe Technology sample system was 4% which is a significant improvement on the approximately 15% achieved by the incumbent sampling system.

 

We expect this data to be representative of the performance of the Tribe Technology sample system technology in the field and this will be monitored upon additional utilisation of the equipment and deployment of additional sample system in the field/site. 

 

 

Figure 2 . Sample Mass Comparison Charts

 

Charlie King, CEO at Tribe Tech, commented:

 

"These preliminary performance results from our Tier 1 mining company client are very pleasing and encouraging. They are consistent with the results achieved in our own internal testing at the Australian Automation & Robotics Precinct ("AARP") facility in Perth, Australia. It is important to know miners can make billion-dollar decisions on the data provided from drilling, increasing the quality of the data can assist the miners in their mine planning and optimisation. We are looking forward to further performance updates in due course as the system is operated at this and other mine sites/drilling operations. These performance proof points will drive commercialisation of the technology as we demonstrate its capability in improving geological sample quality."

 

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For further information, please visit www.tribetechgroup.com or contact:

 

Tribe Technology PLC	via Tavistock
Charlie King, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser and Broker)	[phone]
John Depasquale, Vivek Bhardwaj, Lauren Wright (Corporate Finance) Tony Quirke, Joscelin Pinnington (Sales & Corporate Broking)	[e-mail]
Tavistock (Financial PR)	[phone]
Rebecca Hislaire, Saskia Sizen	[e-mail]

About Tribe Tech

Established in 2019, Tribe Tech is an AIM listed company founded to create a safer, more efficient work environment through the development of fully autonomous RC Drill Rigs and sampling solutions for the mining industry.

 

Based in Northern Ireland and Western Australia, the Group's core activities are the development, in-house manufacturing, and sale of its autonomous RC Drill Rigs incorporating its core proprietary intellectual property, the Tribe Technology Drilling System ("TTDS").

 

Tribe Tech's market-leading technology will help to revolutionise the mining industry, enabling digitisation and intelligent insight through Artificial Intelligence (AI), dramatically improving safety outcomes and streamlining operations.

 

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