In return Sensore will get $250,000 in equity in Red Wolf if it lists on the Australian Securities Exchange and a 1% net smelter return royalty on any gold produced from the exploration licences.
The option and sale agreement is part of Sensore's plan to commercialise AI targets derived from its proprietary technology.
The land Sensore has optioned is near the Genesis Minerals-owned Gwalia operations.
Sensore chief executive officer Richard Taylor said the company's AI targeting showed there was more to be discovered in the highly prospective area.
"The agreement monetises Sensore's targets following our project generator model," he said.
Red Wolf told Sensore it planned to combine the Christmas Well and 8 Mile Well projects with assets it holds in the area and explore an initial public offering in 2024.
Sensore has generated gold targets in the Yilgarn by applying its Discriminant Predictive Targeting within its data cube to 2500-plus layers of regional public datasets. Those datasets included geological maps with geophysical data and existing geochemical sampling and gold deposit information.
That has predicted a number of target areas with untested mineral target systems that could deliver an economic gold deposit in the short to medium term.