Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
During the recent Prospectors and Developers Association of Canada’s international convention, a “Shark-Tank”-style event called #DisruptMining took place under the sponsorship of Goldcorp (NYSE:GG,TSX:G) and Integra Gold (ICG:TSX.V; ICGQF:OTCQX).
Companies and entrepreneurs were called to present innovative ways to introduce technologies that may completely transform the mining sector. Among those who submitted their projects was Toronto-based KORE Geosystems, a firm that combines mineral exploration and tech development.
KORE was awarded $500,000 for its idea of installing measurement instruments onto drill rigs for real-time geological data acquisition. According to the company’s President, Vince Gerrie, the solution would fast-track exploration campaigns while reducing costs.
Interviewed by MINING.com’s Michael McCrae, Gerry said that the support they’ve received will allow them to continue incubating avant-garde solutions. “The exciting part for us is that we really get to roll up our sleeves and make this happen now,” he said.
Gerry expects to have KORE’s technology up and running at a Goldcorp mining site by year end.
Comments
Geosteff
No matter how advanced digital down-hole measuring equipment may become, can we drill and yet afford NOT to see whole core in hand specimen? The recognition of lithological variations by the human eye still undergirds the old proverb…The best geologist is the one who has seen the most rocks. After 40 years in the game, this rule still works!