Mining drill services company Major Drilling Group has inked a new partnership with premier downhole technology company DGI Geoscience and its affiliate company, artificial intelligence-powered core logging tech innovator KORE GeoSystems.
This strategic partnership positions Major Drilling at the forefront of AI advancements in the drilling industry, and 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 our customers.
The pairing was complemented by the borehole data acquisition services offered by DGI to provide a unique service offering in the industry today.
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 their interest in DGI/KORE. The value of this transaction for Major Drilling resides in adding geological solutions to our specialized 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 our customers’ projects with timely and quality data contributing to their geological model.
“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,” said Major President and CEO Denis Larocque.
“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,” added Marc Landry, newly appointed CTO.
Source: Major Drilling Group