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Posts tagged ‘Osisko Gold Royalties Ltd (OR)’

Artificial intelligence, virtual reality help win online Gold Rush Challenge

March 7th, 2016

by Greg Klein | March 7, 2016

Artificial intelligence, virtual reality help win online Gold Rush Challenge

Located just east of Val-d’Or, the past-producing Sigma and Lamaque
mines sit between Integra’s Lamaque North and South projects.

A PDAC opening event demonstrated the evolution of mineral exploration as a high-tech Quebec team won first prize in an online search for Abitibi gold. Integra Gold TSXV:ICG asked contestants to dig through digital data representing some 75 years of mining and exploration at the past-producing Sigma/Lamaque property adjacent to the company’s Lamaque project. Out of five finalists appearing at the March 6 event, the SGS Geostat team won the $500,000 first prize.

The team “used sophisticated geostatistical methods to drive data into an expansive and unbiased block model,” Integra explained. “A prospectivity scoring system harnessed both geological knowledge and machine learning, a subfield of artificial intelligence, to identify high-value targets, which were then vetted through virtual reality with Oculus Rift technology.”

Using somewhat less sophisticated technology, Lamaque produced 4.58 million gold ounces between 1935 and 1985, while Sigma turned out 4.45 million ounces from 1937 to 1997. The digitized files included info from 30,000 holes, over 500,000 assays, hundreds of kilometres of underground workings, mining stats, geological sections, level plans and photos.

As a team of geologists, engineers and computer scientists often bound by certain limitations and boundaries, we relished in the opportunity to channel our collective creativity and curiosity to provide new exploration targets in a historic and famous mining jurisdiction known worldwide.—Guy Desharnais, team leader with SGS Geostat

SGS Geostat leader Guy Desharnais said, “As a team of geologists, engineers and computer scientists often bound by certain limitations and boundaries, we relished in the opportunity to channel our collective creativity and curiosity to provide new exploration targets in a historic and famous mining jurisdiction known worldwide.”

Four other finalists—three teams and one individual—shared another $340,000 in prizes. Integra announced the contest last June. By September over 740 entries had arrived from 65 countries.

Panellists consisted of geologist and commentator Brent Cook, Randy Smallwood and Chantal Gosselin of Silver Wheaton TSX:SLW, Rob McEwen of McEwen Mining TSX:MUX and Sean Roosen of Osisko Gold Royalties TSX:OR.

Integra didn’t specify what the winners proposed for the former mines. But CEO Stephen de Jong said some of the suggested drill targets “are like nothing we’ve ever seen before. We have decided to expedite the drill program and start testing a number of these targets in the immediate future.”

November 20th, 2014

Thomas Drolet: Finding gold dollars in Nevada Streetwise Reports
Downhole geophysics in mineral exploration Geology for Investors
Uranium climbs to highest since January 2013 amid utility demand NAI 500
Osisko Gold to buy Virginia Mines for $476 million VantageWire
Swiss regulator fines UBS for precious metals price manipulation SilverSeek
The Swiss gold initiative and why it may affect bullion prices Stockhouse
Selective financing to snag pace of mine development Industrial Minerals
The last resort when monetary policy fails Equedia

November 19th, 2014

Thomas Drolet: Finding gold dollars in Nevada Streetwise Reports
Downhole geophysics in mineral exploration Geology for Investors
Uranium climbs to highest since January 2013 amid utility demand NAI 500
Osisko Gold to buy Virginia Mines for $476 million VantageWire
Swiss regulator fines UBS for precious metals price manipulation SilverSeek
The Swiss gold initiative and why it may affect bullion prices Stockhouse
Selective financing to snag pace of mine development Industrial Minerals
The last resort when monetary policy fails Equedia

November 18th, 2014

Downhole geophysics in mineral exploration Geology for Investors
Credit Suisse analyst Michael Slifirski: New non-Chinese graphite and vanadium supply could create new demand Streetwise Reports
Uranium climbs to highest since January 2013 amid utility demand NAI 500
Osisko Gold to buy Virginia Mines for $476 million VantageWire
Swiss regulator fines UBS for precious metals price manipulation SilverSeek
The Swiss gold initiative and why it may affect bullion prices Stockhouse
Selective financing to snag pace of mine development Industrial Minerals
The last resort when monetary policy fails Equedia

November 17th, 2014

Osisko Gold to buy Virginia Mines for $476 million VantageWire
Gold demand declines to five-year low globally but rises in India NAI 500
Swiss regulator fines UBS for precious metals price manipulation SilverSeek
The emerging Guerrero Gold Belt of Mexico Geology for Investors
The Swiss gold initiative and why it may affect bullion prices Stockhouse
Gold, economic theory and reality: A conversation with Alan Greenspan Streetwise Reports
Selective financing to snag pace of mine development Industrial Minerals
The last resort when monetary policy fails Equedia