About Us
Ellipsis Mining
Welcome to the Ellipsis Mining
We are building a world class gold discovery platform across Moroccan Sahara and Mauritania, with a clear and credible pathway to define over six million ounces of gold by 2032. Grounded in five years of on ground execution, deep geological understanding, aggressive use of artificial intelligence, and secure tenure positioning, our strategy deliberately de risks discovery by operating across two jurisdictions with directly comparable geology, allowing insights and successes in one country to be translated to the other. This approach enables disciplined, capital efficient exploration while systematically converting scale, access and knowledge into a material gold endowment.
Objective and Data-Driven Approach
At Ellipsis Mining, our exploration strategy is founded on a mathematical, data-driven process designed to maximise success. Before committing to tenement acquisition, we developed a refined process by analysing 48 junior exploration companies, studying their approaches to identify common mistakes and successful practices. Our team of seasoned geologists thoroughly examined all relevant public data, including announcements, reports, satellite imagery, and external resources, to assess the viability of these projects. From this analysis, we found that 32 to 41 of these companies under our refined model were built on geological foundations too weak to support further development or investment. Already two are de-listed. Additionally, we studied Newmont’s extensive gold exploration efforts in Western Australia, which involved soil sampling over a vast area of 3,000 to 4,000 square kilometres. This sampling revealed over 20 gold anomalies that initially warranted further investigation. However, after significant expenditure and several years of effort, it was determined that none of these anomalies were commercially viable. These rich learnings underscored to us the importance of adopting the latest technology for the purpose and a more refined and evidence-based approach to exploration.
Armed with our learnings this allowed us to refine and define a methodology that increases the probability of success for Ellipsis Mining.
Geological analogies to world class Australian deposits. West Africa, particulary Mauritania and Moroccan Sahara, shares geological features with Australia’s renowned Kalgoolie region including Archaean and Proterozoic terranes and significant greenstone belts.
A key factor for success is the identification of a commercially viable mineralisation grade deposit with sufficient surface expression. Our approach removes any subjectivity from the evaluation process. Each tenement or prospect is continually reviewed as new data is collected, with both favourable and unfavourable results objectively analysed. This ensures that decisions are made based on the best available information, reducing the risk of pursuing non-viable targets.
In line with our commitment to objectivity, we have integrated AI into our analysis process to ensure unbiased decision-making. Furthermore, we have adopted world-class sampling techniques that are currently limited to analysis in Australia, applying these advanced methods to our overseas prospects. By employing these cutting-edge techniques, we ensure that our exploration efforts are underpinned by the most accurate and reliable data available.
This meticulous, objective-driven process allows us to consistently make informed decisions, ultimately maximising our chances of exploration success while avoiding costly mistakes.
Mitigating Geopolitical and Regulatory Risks
In addition to geological risk, another key reason mining projects fail is due to geopolitical or regulatory risks. While these risks differ in nature, both can be significant enough to halt the development of a promising mineral deposit. In Africa, for example, political instability has derailed projects, while in western countries like Australia, strict regulations can be equally obstructive. We recognise that both types of risk can be showstoppers in exploration. They need to be factored in mathematically.
To mitigate these risks, Ellipsis Mining focuses on two politically stable jurisdictions: Morocco and Mauritania. While these regions still require careful risk assessment, they offer a more balanced risk profile. The geological continuity between these two countries provides an additional advantage. The mineral structures present in Mauritania extend into Morocco, allowing us to apply valuable geological insights from one region to the other. By investing into two sovereign and separate countries we have offset some geopolitical risk and overall decreased geological risk by comparable geology.
Moreover, the proximity of International world-class mines, such as the Tasiast gold mine and the SNIM iron ore deposits at the borders of Morocco and Mauritania, adds further consideration to our exploration efforts. This regional proximity to successful mining operations is another factor in part of our strategy and helps us isolate commercial mineralisation deposits with greater confidence.
A Strategic Focus on Tenement Selection
We also discovered that some junior exploration companies acquire tenements for reasons unrelated to an objective review of their geological potential, anomalous geo chemistry but lacking the structural controls to support a mine. This lack of focus hinders a company’s ability to develop a world-class, scalable mining operation. To avoid this pitfall, we took a different approach by conducting a global survey of available opportunities in politically stable regions with promising geological formations.
Our criteria led us to Moroccan Sahara and Mauritania—countries with significant untapped mineral potential and favourable political climates. Even artisanal mining is relatively new in Moroccan Sahara and Mauritania. In 2021, Morocco was ranked the number one mining jurisdiction in Africa by the Fraser Institute, and Mauritania is emerging as a stable democracy with vast exploration potential. Together, these regions which we review span over 1.25 million square kilometres of available land for exploration, allowing us to focus on tenements that meet our strict geological criteria.
To date, Ellipsis Mining has secured over 2,500 square kilometres of prime tenements across these regions, carefully selecting areas that offer high geological interest with supporting geo-chemistry. In fact, we have reviewed and rejected over 30,000 square kilometres of tenements, ensuring that only the most promising prospects make it into our portfolio. Our focus is on regions with complex geological deformations, such as archaean cratons, greenstone belts, thrust faults, layered mafic intrusions, and shear zones, which present opportunities for rich mineralisation. We need the structural controls to support a mineralisation system.
Harnessing AI for Enhanced Precision
Maintaining objectivity doesn’t stop with tenement selection. Once exploration begins, our commitment to transparency continues through the integration of artificial intelligence (AI) into our business model. At Ellipsis Mining, we leverage AI to analyse over 20,000 geochemistry sets, combining this data with geophysical information to create a comprehensive understanding of each prospect. The sheer volume of data involved in these analyses can be overwhelming for traditional methods, but AI helps us efficiently isolate meaningful anomalies and discard irrelevant ones. By reviewing vast datasets, AI enhances our ability to pinpoint promising mineralisation targets with a level of objectivity that was previously unattainable.
Ellipsis Mining has developed a secure AI portal on the Microsoft Azure platform, allowing us to upload and analyse our geological data with unparalleled precision. Our advanced machine learning models interrogate this data objectively, and we have implemented a system of ‘guardrails’—cross-referencing answers from multiple large language models (LLMs) to ensure the accuracy and validity of our findings. AI is not perfect, but it narrows the paths forward.
A High Probability of Success – Strategic Exploration Approach
Our Methodology
Our exploration strategy combines the expertise of highly skilled geologists with a rigorous mathematical framework to objectively evaluate geological data. This disciplined approach ensures that each geological opportunity we pursue has a strong likelihood of commercial success.
We focus on identifying four high-potential geological opportunities, each of which must individually meet our stringent threshold of a 60% to 70% probability of discovering commercially viable mineral systems.
Once these four distinct and independent geological opportunities are identified, drilling will commence in 2025. Mathematically, drilling four opportunities, each with a 60%–70% probability of success, significantly increases our overall probability of achieving at least one commercially viable discovery—raising the cumulative probability to approximately 97%–99%.
We define “success” as identifying a mineral resource equivalent to no less than 750,000 ounces of gold, representing a resource valuation of approximately AUD $1.8 billion.
This approach is not merely theoretical; it is firmly grounded in detailed geological analysis, rigorous fieldwork, and comprehensive data evaluation.
Geological Opportunity and Infrastructure Advantages
Our targeted geological opportunities are located in regions with significant geological potential, supported by strong surface expressions, favourable geological structures, and robust geophysical indicators. Each opportunity is carefully assessed against our stringent criteria, ensuring only the highest-quality targets are pursued.
Critically, these geological opportunities are strategically positioned to benefit from imminent infrastructure developments. By 2028, the nearby Dakhla Port will be upgraded and fully operational, capable of accommodating Panamax-class vessels. This significant infrastructure enhancement will substantially improve logistics, reduce transportation costs, and enhance the commercial viability of any mineral discoveries.
Additionally, replenishable aquifer water resources are readily available near our targeted locations, further supporting the viability of future mining operations.
The Importance of Disciplined Rejection
A cornerstone of our exploration strategy is not only what we choose to pursue but also what we decisively reject. Maintaining objectivity and discipline ensures our resources and efforts are concentrated exclusively on geological opportunities with the highest potential for commercial success.
We have evaluated and subsequently rejected numerous geological opportunities across various commodities, including gold, vanadium, chromite, copper, nickel, and cobalt. Despite some of these opportunities displaying promising surface expressions and world-class mineral characteristics, they did not meet our rigorous probability threshold without incurring significant additional risk and cost.
By adhering strictly to this disciplined approach, we ensure our exploration efforts remain focused on geological opportunities that stand the strongest chance of commercial success, as determined by comprehensive geological and mathematical analysis.
Conclusion
Our exploration strategy is built upon a robust combination of geological expertise, rigorous mathematical probability analysis, and strategic infrastructure considerations. By carefully selecting only those geological opportunities that meet our stringent 60%–70% probability threshold—and decisively rejecting those that do not—we significantly enhance our overall probability of commercial success.
This disciplined, objective approach positions us strongly to deliver substantial value through targeted exploration and development activities commencing in 2025, further supported by critical infrastructure developments scheduled for completion by 2028.
Objective and Data-Driven Approach
Before Ellipsis Mining commits to applying for or acquiring any tenements, we conduct rigorous reviews of all available opportunities. To qualify our process and prior to securing tenements, we analysed 48 listed junior exploration companies. Our team of seasoned geologists thoroughly examined all relevant public data, including announcements, reports, satellite imagery, and external resources, to assess the viability of these projects. From this analysis, we found that 32 to 41 of these companies under our model were built on geological foundations too weak to support further development. Already two are de-listed.
Additionally, we studied Newmont’s extensive gold exploration efforts in Western Australia, which involved soil sampling over a vast area of 3,000 to 4,000 square kilometres. This sampling revealed over 20 gold anomalies that initially warranted further investigation. However, after significant expenditure and several years of effort, it was determined that none of these anomalies were commercially viable. The best learning’s are from failings ideally no your own.
To avoid such outcomes, we have adopted world-class sampling techniques that are currently limited to analysis in Australia, and we have applied these methods to our overseas prospects. By using these advanced techniques, we ensure that our exploration efforts are supported by the best possible data, reducing the likelihood of pursuing non-prospective targets and maximising our chances of success.
Mitigating Geopolitical and Regulatory Risks
In addition to geological risk, another key reason mining projects fail is due to geopolitical or regulatory risks. While these risks differ in nature, both can be significant enough to halt the development of a promising mineral deposit. In Africa, for example, political instability can derail projects, while in Western countries like Australia, strict regulations can be equally obstructive. We recognise that both types of risk can be showstoppers in exploration. They need to be factored in mathematically.
To mitigate these risks, Ellipsis Mining focuses on two politically stable jurisdictions: Morocco and Mauritania. While these regions still require careful risk assessment, they offer a more balanced risk profile. The geological continuity between these two countries provides an additional advantage. The mineral structures present in Mauritania extend into Morocco, allowing us to apply valuable geological insights from one region to the other. By investing into two sovereign and separate countries we have offset some geopolitical risk and overall decreased geological risk by comparable geology.
Moreover, the proximity of world-class mines, such as the Tasiast gold mine and the SNIM iron ore deposits near the borders of Morocco and Mauritania, adds further consideration to our exploration efforts. This regional proximity to successful International mining operations is another factor in part of our strategy and helps us isolate commercial mineralisation deposits with greater confidence.
A Strategic Focus on Tenement Selection
We also discovered that many junior exploration companies acquire tenements for reasons unrelated to an objective review of their geological potential. This lack of focus often hinders a company’s ability to develop a world-class, scalable mining operation. To avoid this pitfall, we took a different approach by conducting a global survey of available opportunities in politically stable regions with promising geological formations.
Our criteria led us to Moroccan Sahara and Mauritania—countries with significant untapped mineral potential and favourable political climates. Even artisanal mining is relatively new in Moroccan Sahara and Mauritania. In 2021, Morocco was ranked the number one mining jurisdiction in Africa by the Fraser Institute, and Mauritania is emerging as a stable democracy with vast exploration potential. Together, these regions which we review span over 1.25 million square kilometres of available land for exploration, allowing us to focus on tenements that meet our strict geological criteria.
To date, Ellipsis Mining has secured over 3,000 square kilometres of prime tenements across these regions, carefully selecting areas that offer high geological interest. In fact, we have reviewed and rejected over 30,000 square kilometres of tenements, ensuring that only the most promising prospects make it into our portfolio. Our focus is on regions with complex geological deformations in our area, such as archaean cratons, greenstone belts, thrust faults, layered mafic intrusions, and shear zones, which present opportunities for rich mineralisation. We need the structural controls.
Exploration, Objectivity, and Innovation
At Ellipsis Mining, our goal is to ensure that every step of our mineral exploration process is grounded in objectivity and supported by rigorous statistical analysis. We actively eliminate subjectivity where necessary, ensuring that every decision we make is backed by data and meets our high standards. Everything has to stack up, from the initial geological assessments to the final drilling phase.
We leverage the latest technology and innovations, including high-end satellite imagery and world-leading geochemical analysis with samples as fine as less than two microns. This precision enables us to conduct thorough reviews of the geology and mineral potential of our tenements. By combining this cutting-edge technology with the deep expertise of our geologists, we provide ourselves with the best possible chance to uncover commercially viable mineral deposits.
Our commitment to objectivity, the advanced technology we use, and the experience we bring to every project position us to deliver a world-class commercial mineral deposit. With a focus on accuracy and precision, Ellipsis Mining is driving forward with confidence and the determination to succeed in the very harsh junior exploration industry.
Contact UsJohn Canaris
John is an exploration geologist and mining executive with more than 30 years’ experience in the Australian resource industry. He holds a Bachelor of Science Degree in Geology with Honours in Geomorphology from the University of Adelaide. His wide-ranging technical capabilities encompass both minerals and hydrocarbon exploration in Australia and overseas, and all aspects and techniques in airborne survey and remote mapping. In addition, John has also successfully founded a major industrial mineral opportunity in the Pilbara; Leichhardt Industrials will be Australia’s lowest cost, highest purity industrial salt operation. The Company was recently awarded Lead Agency status by the WA government.
Clayton Cross
Clayton is an experienced mining executive with a background in corporate and mining law. He holds a Bachelor of Economics and Bachelor of Laws, is the principal of corporate advisory and administration at Cross Consult Corporate, and has extensive experience in equity capital, corporate finance, structuring, asset acquisition, corporate governance, and external stakeholder relations.
Join Us
Join us at Ellipsis Mining as we continue our journey into the unexplored, driven by our passion for discovery, commitment to sustainability, and the pursuit of excellence. Together, we are shaping the future of the mining industry, one mineral deposit at a time.
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