Earlier this year, TCC launched its new Sample Control System (SCS) for the optimisation of ground investigations. The SCS is expected to significantly reduce the cost of basic investigations and create time savings relative to traditional sampling and lab analyses by quickly collecting results in a single integrated app. This system is designed to optimise fieldwork procedures by utilising data from drill rigs, samples, and industrial experience to produce more detailed analyses with reduced sample materials.
The relationships with TCC and exposure to the SCS exploration product represent Teako's commitment to implementing cutting-edge technological solutions that increase efficiency and productivity within the mining industry.
Research and development
The license agreement is part of a larger framework that includes a research and development agreement and a project agreement, which aims to deliver SCS once it reaches commercialisation. Teako and TCC will develop the SCS together under an R&D agreement, which is still being negotiated.
Under the terms of the licensing agreement, Teako obtains an exclusive two-year license for SCS, which comprises three components: the SCS - Prospecting Software, the patented Cuttings Sampler Unit (CSU) hardware, and the Sampler Emptying Unit (SEU) hardware.
The license agreement permits Teako to use the SCS product internally and also to resell or refer sales of the SCS within the Teako group of companies, through its wholly owned subsidiary Valence Mining Services and its alliance members, and to other entities outside the Teako group of companies.
Data-driven analysis
The SCS is intended for use in prospecting or exploration (including drilling) worldwide. It is designed to provide substantially increased levels of data-driven analysis, reducing the amount of required sample materials and making processes more efficient. Operational planning, risk management, task management, and budget management can be streamlined via the SCS - Prospecting Software platform, offering a comprehensive solution for ground investigation.
With data from drill rigs, samples, and industrial experience, the SCS Exploration Product is expected to provide a much more detailed analysis requiring reduced sample materials and more effective operations.
Strategic partnership
Sven Gollan, CEO of Teako Minerals Corp., said: "This strategic partnership with The Coring Company represents a significant milestone for our company. The exclusive licensing of the SCS Exploration Product enables us to leverage cutting-edge technology to optimise our fieldwork procedures, reducing sample materials while simultaneously enhancing the accuracy and efficiency of our processes. At Teako, we are committed to pushing the boundaries of what's possible in mineral exploration, and this agreement solidifies our position at the forefront of technological advancement in the industry."
Frida Vonstad, CEO of The Coring Company, added: "This agreement with Teako Minerals Corp. is an exciting opportunity to extend the reach of our innovative SCS Exploration Product. We are thrilled to have Teako, a company known for its commitment to innovative practices, as the exclusive licensee of one of our products. It's a clear demonstration of our shared belief in the power of technology to revolutionise fieldwork procedures in the mining industry. This collaboration not only broadens the application of our technology but also validates our vision of driving efficiency in mining applications."
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