Major Drilling Group International Inc. has announced a new partnership with downhole technology company DGI Geoscience Inc. (DGI) and its affiliate company, artificial intelligence-powered core logging tech innovator, KORE GeoSystems Inc. (KORE).
This strategic partnership is said to position Major Drilling at the forefront of AI advancements in the drilling industry. The combination of Major Drilling's fleet, skilled drilling teams and its TrailBlazer Rock5 technology, with KORE's digital rock analysis platform provides the opportunity to deliver valuable data to its customers. This is complemented by the borehole data acquisition services offered by DGI to provide a unique service offering in the industry today.
"We are delighted to welcome DGI and KORE as our partners. This alliance is a continuation of Major Drilling's progression in drilling innovation and also part of our growth strategy as we invest in the future of mining," Denis Larocque, president and CEO of Major Drilling, said.
"As our traditional drilling services evolve, the full complement of DGI/KORE products and services alongside Major Drilling's developing technologies will see our service offering transform and help our customers during this mining upcycle. For example, KORE uses AI to automate processing of core logging, greatly reducing time and improving consistency, enabling our customers to get real-time, remote access to results across the globe," Marc Landry, newly appointed CTO, said.
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Under the agreement, Major Drilling will acquire an approximate 40% interest in DGI/KORE for C$15 million cash consideration. As part of this investment, Canadian Shield Capital, a Toronto-based growth equity firm, is selling its interest in DGI/KORE. The value of this transaction for Major Drilling resides in adding geological solutions to its specialised drilling, providing a unique service offering, encompassing the latest advanced technology. This investment supports the company's efforts to position itself as the contractor of choice to the drilling industry by providing solutions to help accelerate its customers' projects with timely and quality data contributing to their geological model.
The mining sector can access turnkey geological, geophysical and geotechnical drillside orebody intelligence solutions
"We are thrilled to support Major Drilling with KORE's cutting-edge SPECTOR integrated technology suite," Vince Gerrie, P.Geo, president and CEO of KORE, said. "Our transformative AI-powered digital core logging platform significantly increases productivity, consistency, and enhances data insights for our customers."
Chris Drielsma, P.Geo, president and CEO of DGI, added, "Through our powerful new partnership with Major Drilling, the mining sector can access turnkey geological, geophysical and geotechnical drillside orebody intelligence solutions. We are very excited to be part of this evolution of drill performance, helping maximise the value from drilling through our geoscience solutions."
