Around 80% of the NT has never been surveyed by modern methods. That is not a gap in the literature — it is a commercial opportunity hiding in plain sight. Esper Satellite Imagery’s NT Mineralisation Map is the first attempt to change that at scale, using hyperspectral satellite imagery to detect surface mineral signatures across more than 1.35 million square kilometres of prospective geology.

The inaugural layer focuses on gold, a well-timed starting point with spot prices having surged more than 65% in the past twelve months and setting a new all-time high above US$5,500 per ounce in early 2026. Subsequent releases will target minerals from the NT Government’s 15-strong critical minerals list, including lithium, cobalt, rare earth elements, vanadium and manganese.

“80% of the NT has never been surveyed by modern methods. That is not a gap — it is an opportunity.”

The intelligence gap it fills

Hyperspectral mapping of this kind has historically required purpose-flown airborne surveys — costly, slow, and largely inaccessible to junior explorers. Esper’s satellite-derived approach delivers the same class of mineralogical intelligence at a fraction of the cost, making systematic targeting viable for established tenement holders and new entrants alike.

For existing tenement holders the application is immediate: surface analysis across an entire tenement in a single pass, identifying alteration assemblages and pathfinder mineral signatures that would otherwise require extensive fieldwork or geochemical sampling to find. It turns a broad geological inference into a high-resolution picture of what is actually on the ground.

Critical minerals and geopolitical timing

The launch lands at a moment of structural pressure on global critical minerals supply. China’s ongoing export restrictions and a federal election in which critical minerals policy has featured prominently have sharpened the appetite for domestic intelligence. The NT holds known deposits across all 15 of Australia’s nationally designated critical minerals and ranks in the top 10 jurisdictions globally for mining investment attractiveness.

Following the gold release, Esper will progressively add layers for the full critical minerals list, from bauxite and copper through to rare earths, tungsten and zirconium, using the same methodology applied to each new commodity.

What comes next

Esper is on track to launch its next satellite later in 2026, equipped with advanced infrared sensing that will substantially expand the spectral range available for geological analysis. The new payload extends detection into thermal and mid-wave infrared wavelengths — spectral regions critical for identifying minerals with limited surface expression under current methods. It will position Esper as one of a small number of commercial operators globally with end-to-end hyperspectral and infrared earth observation capability.

“The NT is sitting on a world-class mineral endowment, much of which has never been properly interrogated by modern geoscience. For tenement holders, this is exactly the kind of intelligence layer that transforms how you think about your own ground.” — Alex Farrugia, Paspalis Capital

For more information on the Paspalis portfolio of investments visit paspalis.com.au