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

Tribe TechnologyAnnouncement

02/10/2024 07:00

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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."

 

-END-

 

Engage with us by asking questions, watching video summaries and seeing what
other shareholders have to say. Navigate to our Interactive Investor hub here:
investorhub.tribetechgroup.com (https://investorhub.tribetechgroup.com)

 

Sign up to the Tribe Tech investor hub:
investorhub.tribetechgroup.com/auth/signup
(https://investorhub.tribetechgroup.com/auth/signup)

 

For further information, please visit www.tribetechgroup.com
(http://www.tribetechgroup.com) or contact:

 

 Tribe Technology PLC                                                via Tavistock
 Charlie King, Chief Executive Officer

 Allenby Capital Limited (Nominated Adviser and Broker)              +44 20 3328 5656
 John Depasquale, Vivek Bhardwaj, Lauren Wright (Corporate Finance)  info@allenbycapital.com

 Tony Quirke, Joscelin Pinnington (Sales & Corporate Broking)

 Tavistock (Financial PR)                                            +44 20 7920 3150
 Rebecca Hislaire, Saskia Sizen                                      tribetech@tavistock.co.uk

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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