Can you provide an overview of Xcalibur Multiphysics?

DA: Xcalibur Multiphysics is the leader in airborne geophysics in the community that we serve. Our main clients are junior miners and majors, but we also service a number of governments around the world. Additionally, we have oil and gas customers, and we are increasingly looking to serve the emerging geothermal, hydrogen and other alternative energy markets. We are present in 13 countries across six continents.

How has the acquisition of CGG Multiphysics better positioned Xcalibur?

DA: Xcalibur has been a very strong player from 2002 onwards, but their main focus was in magnetics and radiometrics, and typically they were doing larger scale country mapping programs in Africa. Their focus was to take the next step and become a more global player with the most diverse number of technologies to service their clients. From a technology and geographic perspective, it was a perfect union.

What are some of the most important offerings Xcalibur will be introducing into the Canadian market in 2023?

DA: One of Xcalibur’s crown jewels is its XMAG system, which is a magnetic and radiometric system that utilizes a fixed-wing aircraft to deliver ultra-high resolution data, with a quick turnaround time. The system is flown on a crop-dusting aircraft designed specifically to fly at ultra-low levels. We are going to be exporting that technology around the world, and Canada is a key place to receive that technology.

Similarly, an existing technology that was formerly part of CGG is TEMPEST, which is a fixed-wing time-domain system.

AB: Considering all the pressure to develop critical minerals, prospecting must be done faster with high resolution techniques. These solutions based on fixed-wing platforms are more efficient and will help companies get access to information faster.

How is Xcalibur positioned to contribute its services to boost the speed and accuracy of exploration efforts for critical metals?

DA: Airborne geophysics is a quick way to establish a clear understanding of the subsurface. We have no boots on the ground, so there is minimal environmental impact, and there are limited issues with local communities because we are not looking to drill holes in the ground. What we really want to do is provide a much clearer understanding ofthe subsurface for our clients, and then help them focus on the most highly prospective areas, so they limit their environmental impact and community disturbance. We have flown every technology in Ontario, but the primary ones of late have been our gravity gradiometer, which we call our Falcon system. One of our big wins was conducting a large survey over the Ring of Fire with our Falcon technology for the Ontario Geological Survey. That is public domain data, and a lot of mining companies have used that before deciding where to stake claims. The other widely used technology would be our HELITEM, which is a time-domain helicopter EM system. The demand for those technologies has increased substantially in the last couple of years primarily from junior companies looking for nickel and copper.

AB: We want to support the fast mapping of energy transition minerals in Ontario, and that is why we are investing US$40 million in R&D for acquisition technologies, as well as technologies that apply machine learning techniques in the interpretation of the data. We are also investing in enlarging our fleet and the number of systems deployed in Ontario to assist the large number of juniors that will be ramping up exploration in line with Ontario’s emphasis on developing a critical minerals supply chain. A unique advantage Xcalibur offers is that we are very agile and creative with our financial models, so we are ready to partner with juniors to provide technical and financial solutions.

Can you outline the steps Xcalibur has taken to minimize its environmental footprint?

DA: Xcalibur has partnered with Monte, a company that is focused on delivering zero-emission aircraft and retro-fitting existing aircraft with electric, hybrid or hydrogen propulsion technologies. We are committed to transitioning all of our aircraft engines when the technology is there and robust.