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Veracio shows off latest tools to transform orebody sciences at PDAC 2024

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Veracio, an orebody knowledge technology company that formerly operated as Boart Longyear’s Geological Data Services division, has used the backdrop of the PDAC Convention in Toronto, Canada, to unveil new and refreshed orebody knowledge tools set to, it says, improve, automate and digitally transform orebody sciences in exploration, resource definition and production globally.

TruScan® 2, TruProbe® and Strata™ were launched when the event kicked off on March 3, close to a year since Veracio came into existence.

JT Clark, CEO of Veracio, said: “In just one year – from introducing Veracio to the world to now – our progress has been remarkable. Our new technologies, our team’s dedication, and our strategic acquisitions like Minalyze have all been steps towards realising our overarching vision of transforming how we capture and utilise orebody knowledge, from exploration to production.”

TruScan 2, featuring HyperXRF™, a mineralogical solution integrated into Veracio’s core scanning platform boasts co-registered data streams from both hyperspectral and XRF (X-ray Fluorescence) scanning supported by enhanced QA/QC, the company says. The scanning capabilities of both chips and core provide scanning data, including mineralogical data, to teams within 24 hours. Field trials are commencing early in the June quarter, followed by first deliveries to customers in the September quarter of 2024.

TruProbe is an integrated app, cloud and stackable hardware solution; combining both rig and downhole sensing technologies. Building upon the foundations set by Veracio’s north seeking TruGyro, TruProbe “stacks” a robust gamma sensor to enable operators to log both borehole deviation and gamma simultaneously, Veracio claims. On the rig, the app connects to an azimuth rig aligner and wireless depth counter. The software in both the handheld app and the cloud drives efficiency and accuracy through a simple, easy-to-use design, while the hardware is integrated with industry-standard running gear for safer, faster operation, according to the company.

Strata is Veracio’s cloud technology environment, and 2024 will see more added to the experience. This cloud environment ensures there are sophisticated software offerings available to pair with all Veracio hardware, now further enriched by the recent additions to the Minalyze™ software offering, including Minalogger™. For downhole surveying, the seamless connectivity to the TruProbe app will, Veracio says, provide a new way to visualise 3D hole path and empower teams with easy-to-use data access to advance their projects no matter where they are in the world.

Mike Ravella, Chief of Innovation, added: “This portfolio represents just the beginning of our journey. We are constantly evolving, striving to pioneer the next-generation orebody knowledge and bring it to the forefront of the industry.”

Veracio-IDS

IDS and Veracio partner up to redefine drill hole data use in the mining industry

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International Directional Services (IDS), a Granite Company, and Veracio, a leading mining technology company, have announced a partnership to offer Veracio’s complete suite of driller-operated tooling to IDS clients.

Veracio says it is making significant steps toward leveraging advanced geological technologies to enhance the mining lifecycle. While IDS and Veracio have an existing relationship, the announcement of this partnership acknowledges the vision both companies share for transforming how the drilling workflow can be enhanced with better data, they say. By combining IDS’s expertise in directional drilling and Veracio’s geological data collection, the partnership will empower IDS and Granite clients to reduce unnecessary drilling costs, mitigate operational errors, minimise waste and foster sustainable mining practices.

“Our collaboration further strengthens Veracio’s position in the US market and reinforces our commitment to advancing the mining industry by offering cutting-edge solutions,” Veracio’s Chief Executive Officer, JT Clark, said. “Together with IDS, we are committed to redefining industry standards, empowering precision and integrity with every survey, and delivering unparalleled solutions for the mining industry.”

Jason Smith, IDS General Manager, said: “We are excited to embark on this strategic partnership with Veracio. By combining our data collection expertise with Veracio’s cutting-edge instrument technology, we aim to redefine how drill hole data is utilised in our industry. This collaboration represents a significant step forward for IDS and our commitment to delivering excellence to our clients.”

Key objectives of the partnership include:

  • Enhanced drill hole data analysis: deploy cutting-edge technology to enhance the accuracy and quality of drill hole data analysis, providing valuable insights for mining projects
  • Increased productivity: leveraging Veracio’s growing fleet of technologies, including TruGyro and TruSub technology, ensures that drilling is precise and efficient leading to better resource definition, safety and lower risks of operational errors, at lower cost; and
  • Client support and satisfaction: the partnership aims to elevate the level of support and satisfaction for IDS’s clients by delivering data-driven insights and innovative solutions.

The announcement is headlined by the most compact and integrated continuous north-seeking gyro tool in drilling, Veracio’s TruGyro, a north-seeking gyro tool built to deliver precision data at depth in some of the toughest of environments, Veracio says. IDS also currently serves as the distributor for Veracio’s TruShot, a  magnetic survey tool specially designed for driller deployment. Known for its durability, precision and user-friendly features, TruShot enables drillers to confidently capture high-quality 3D hole path data, Veracio says. In addition to TruShot, IDS also distributes core orientation tooling on behalf of Veracio.

As Veracio introduces new products to the market, IDS aims to expand its customer offerings to provide a comprehensive range of cutting-edge solutions.

Veracio captures more drill core scanning market share with Minalyze acquisition

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Veracio has entered into a binding agreement to acquire pioneers in scanning and data innovators, Minalyze, for a total consideration equal to $29.3 million.

With the combination of Veracio’s AI and advanced analytics solutions and Minalyze’s geological data visualisation technology, this strategic acquisition will transform the way the industry captures, analyses and interprets geological information, ushering in an era of informed decision-making in an increasingly complex and data-driven world, according to Veracio.

Boart Longyear Group spunoff its Geological Data Services division into a separate entity called Veracio earlier this year, saying the company is “ideally suited to combine science and digital technologies in a single, integrated platform and help mining companies get more value from their orebody data, faster, while mitigating the environmental impact of their decisions”.

Minalyze, meanwhile, has a history of developing scanning instruments for core samples and software for the visualisation of geological data. The company’s patented scanner and cloud-based software for digitising large volumes of drilling samples generate high-resolution and consistent data through fast, non-destructive collection of multiple datasets. This has seen it achieve commercial success with clients in Europe, Australia, Africa and North America.

“This acquisition represents an exciting new chapter for both Veracio and Minalyze,” Veracio Chief Executive Officer, JT Clark, said. “We see this as a ‘better together’ opportunity, leveraging our collective expertise to push boundaries and create a product portfolio that goes beyond anything previously available for the mining and exploration industry.”

Annelie Lundström and Mikael Arthursson, the co-Founders of Minalyze, will assume integral leadership positions within Veracio, while the entire Minalyze team will seamlessly transition under the Veracio banner, according to Veracio.

Lundström said: “Joining forces with Veracio is a remarkable step forward. We believe this acquisition will enable us to enhance what we’ve accomplished to date, deliver distinct value to our clients and redefine industry benchmarks collaboratively.”

Mike Ravella, Veracio’s Chief Innovation Officer, said: “We are committed to maintaining the quality and innovation the industry has come to expect from both Veracio and Minalyze. We want to assure our clients on both sides of this transaction that the products and quality of services they trust and value will continue to be available and well-supported, and we encourage and appreciate their continued support.”

This deal will, according to Veracio, capitalise on the synergy between Minalyze and Veracio’s scientific and technological progress and prowess. Veracio remains steadfast in its mission to evolve data acquisition and AI in geosciences, and to unveil vital resources globally with enhanced speed.

Completion of the transaction is scheduled to occur on September 20, 2023.

Veracio furthers orebody knowledge messaging with AusIMM partnership

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Veracio says it is furthering its commitment to redefining how miners find and process orebodies with a new partnership with The Australasian Institute of Mining and Metallurgy (AusIMM).

This partnership, slated to continue through 2024, marks an exciting collaboration between two leading organisations committed to shaping the future of the resource industry, Veracio said.

Earlier this year, Boart Longyear announced that its Geological Data Services division would now operate as a separate entity called Veracio, becoming a single, integrated platform to help mining companies get more value from their orebody data, faster, while mitigating the environmental impact of their decisions. Its technologies and platform, the result of a decade of testing and development in sensing, automation, and artificial intelligence (AI) technologies, “empowers miners to dig deeper into data, accelerating exploration and making better decisions that result in economically efficient operations and reduced waste,” the company said.

Through the AusIMM collaboration, Veracio will focus on a comprehensive thought leadership campaign and a range of online and in-person engagement initiatives, it said.

JT Clark, Veracio’s CEO (pictured on the left), said: “We look forward to engaging with professionals in the mining sector to explore how we can leverage cutting-edge technology and AI to advance orebody knowledge.”

AusIMM CEO, Stephen Durkin (pictured on the right), added: “This collaboration will share with our global community the latest insights on modern tools and techniques being deployed in our industry, ensuring our sector creates safe, sustainable value for our communities.”