[caption id="attachment_1003727040" align="aligncenter" width="462"] Typhoon technology has been used around the world, as seen here in Chile. (Image: High Power Exploration)
VANCOUVER – Robert Friedland, Chairman and CEO of High Power Exploration Inc
. (HPX), and Eric Finlayson, president, announced on Feb. 18 that the company has entered into lease and technical assistance agreements with Shandong Yantai Xintai Gold Mining Co
., a subsidiary of China National Gold Group, one of China's largest gold producers.
Under terms of the agreements signed in Yantai, Shandong, HPX – a metals focused exploration and development company that also invests in disruptive exploration technologies – will deploy its proprietary Typhoon survey technology at Xintai's gold mine property for approximately three months, commencing in early 2019.
Typhoon is a high power, induced polarization and electromagnetic geophysical survey technology that can inject large amounts of energy much deeper underground than conventional technologies, penetrating through otherwise opaque conductive or resistive cover to rapidly acquire survey data. Typhoon is deployed in conjunction with world leading survey forward modelling, QA/QC and data inversion software from HPX's 94%-owned subsidiary Computational Geosciences.
HPX will receive lease and technical service fee payments for the operation of Typhoon, completion of a survey report based on acquired data, as well as assistance with exploration planning and drill hole targeting. Should a gold resource discovery be made as a result of Xintai and HPX's efforts, HPX will receive royalty payments as a portion of net profits generated from the discovered resource, throughout the entire mine life.
"These agreements represent an opportunity for China's leading gold companies to leverage cutting-edge technology to maximize the chances of discovery, and for HPX to create value for our stakeholders with a royalty-based business model for Typhoon,” said Friedland.
Finlayson added: "Typhoon has demonstrated its search capability in numerous countries around the world. Most recently, drill targets defined by Typhoon intersected semi-massive nickel and copper sulphides at Sama Resources' Yepleu project in Côte d'Ivoire, West Africa.”
HPX is a privately-owned, metals-focused exploration company deploying proprietary in-house geophysical technologies to rapidly evaluate buried geophysical targets. The HPX technology cluster comprises geological and geophysical systems for targeting, modelling, survey optimization, acquisition, processing and interpretation.
For further information, please visit www.HPXploration.com