VANCOUVER, British Columbia, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (ASX: MIO) (TSX-V: MMS) (OTCQB: MMSDF) (the “Company” or “Macarthur”) announces that it has signed an Agreement (“Agreement”) with Canaria Technologies Pty Ltd (“Canaria”) to facilitate the introduction, testing and potential use of Canaria’s Biometrics Safety System at the Company’s flagship Lake Giles Iron Project (“Project”) in the Yilgarn region of Western Australia.
Predictive Biometric Systems are a new field of science, combining live and historical data about a user’s body and vital signs with cutting edge Artificial Intelligence to predict future medical or human safety-based incidents.
Canaria pairs the data science of predictive biometric systems with medical-grade hardware to create predictive wearable devices, able to measure a user’s movement, breathing, heart rate, temperature and level of physical distress, to anticipate serious safety issues through hazard identification and prevention. Further details of the Canaria predictive biometric system technology are available at the following link: https://canariatechnologies.com/tech.
Under the Agreement, Canaria will initially supply Macarthur with a small number of devices for a ~4 week heat stress, user testing period, through the Australian summer season 2020/2021, during which time environmental surveys will be undertaken at the Project site. Further testing will take place if the Project proceeds to the construction phase following successful completion of the Feasibility Study and completion of financing for the Lake Giles Iron Project.
Predictive biometrics systems can provide many operational efficiencies including enhancing productivity, increasing overall employee wellness and improving the bottom line. Macarthur’s Lake Giles Iron Project provides an opportunity to realise these benefits for the Company, and to establish it as a technology leader in the resources sector by carving a path as one of the first true “Industry 4.0” sites.
Alex Moss, CEO of Canaria Technologies commented:
“Canaria Technologies is very pleased to be working with Macarthur to showcase what the capabilities of a next generation Industry 4.0 site are. Starting with the new field of predicting, rather than detecting, the most crippling health and safety issues in the resources sector: cognitive fatigue and heat exhaustion. Together, we can ensure that all Macarthur employees can get home safely every day.”
Andrew Bruton, Executive General Manager (Corporate) and Company Secretary of Macarthur Minerals commented:
“The potential benefits of this technology to the Company’s bottom line in respect of insurances, productivity loss, absenteeism and asset damage is self-evident, however Macarthur’s strong commitment to the safety and wellbeing of our employees and contractors is our primary incentive for partnering with Canaria. Macarthur is committed to ensuring that it builds a company that prioritises the safety of its employees and everyone who works with us.
Heat stress and cognitive fatigue can be a very real issue in the extreme environments of Western Australia’s iron ore regions. Macarthur is investing in testing the potential for Canaria’s medical-grade wearable devices not only to reduce the number of accidents and injuries caused by these issues, but also to prevent them from occurring in the first place. That’s the real value of the potential in this technology.
This is another positive step for Macarthur as we demonstrate our approach to responsible and sustainable development and our desire to take the lead on important technology-lead industry-changing initiatives that benefit workers. It’s our commitment to ensuring that every member of our future Macarthur “family” returns home safely to their own families, every day.”
On behalf of the Board of Directors, Mr Cameron McCall, Executive Chairman
For more information please contact:
| Joe Phillips CEO & Director +61 7 3221 1796 communications@macarthurminerals.com | |
| Investor Relations – Australia Advisir Sarah Lenard, Partner sarah.lenard@advisir.com.au | Investor Relations - Canada Investor Cubed Neil Simon, CEO +1 647 258 3310 info@investor3.ca |
About Canaria Technologies Pty Ltd
Canaria is a niche digital technologies company that offers predictive biometric capabilities. They use highly accurate predictive biometric systems for dual real-time prediction of heat exhaustion and cognitive fatigue in the resources sector. Canaria Technologies prides itself equally on commercialising solutions to life-threatening problems as it does on furthering scientific progress through Research and Development – with the goal of ensuring everyone gets to go home safely at the end of each day. Led by founders Alex Moss and Dr Rob Finean, Canaria Technologies has worked hard to put together the best team possible to ensure their predictive biometric systems are at the forefront of the industry and continually making a difference.
Company profile
Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Lake Giles Iron Project mineral resources include the Ularring hematite resource (approved for development) comprising Indicated resources of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26 million tonnes at 45.4% Fe; and the Lake Giles magnetite resource of 53.9 million tonnes (Measured), 218.7 million tonnes (Indicated) and 997 million tonnes (Inferred). Macarthur has prominent (~721 square kilometer tenement area) gold, lithium and copper exploration interests in Pilbara region of Western Australia. In addition, Macarthur has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.
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Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding expected completion of the Feasibility Study; conversion of Mineral Resources to Mineral Reserves or the eventual mining of the Project, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in iron or magnetite demand or substitution by other metals or materials; the discovery of new large low cost deposits of iron magnetite; the general level of global economic activity; failure to complete the FS; inability to demonstrate economic viability of Mineral Resources; and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.