The Elements of Innovation Discovered

Boart Longyear creates new geo data firm

Veracio combines a century of expertise with cutting-edge tech Metal Tech News – March 1, 2023

As the demand for critical metals continues to rise, the need for efficient and accurate mineral exploration has never been greater. With the mining industry facing ever-increasing pressure to reduce the time from discovery to mineral extraction, Boart Longyear Group Ltd., a company well-known for its mineral exploration expertise, has repackaged its award-winning geological data services into a standalone entity – Veracio.

Established over 130 years ago, Boart Longyear has withstood the test of time. Over its long history, it has risen to the world's leading provider of drilling services, orebody-data-collection technology, and innovative, safe, and productivity-driven drilling equipment.

With its main focus on mining and mineral exploration activities that include the search for copper, gold, nickel, zinc, uranium, and a wide range of other metals and minerals, Boart recognized the telltale signs for change and has provided a service to further streamline the mineral exploration process.

Initially categorized as one of the many mining and drilling-related services it offered, the straightforward-named Geological Data Services comprised many of the activities necessary to drill and survey.

With the growing need for tailored and streamlined geological data services that combine modern sensing, automation, and artificial intelligence technologies, the newly minted Veracio takes science and digital technologies and integrates them into a single platform to help mining companies get more value from geological data.

"The mining industry must rapidly redefine how it finds and processes orebodies," said Veracio Chief Innovation Officer Mike Ravella. "From our hands-on experience in mineral exploration and mining, we know solving this problem requires investing in geological science and creating practical tools powered by AI to empower a deeper understanding of the orebody which will drive mining efficiency."

Veracio leverages several key digital sensing platforms along with machine learning that will help miners move beyond the borehole and see the entire orebody in superb detail. Its primary aspects include:

AI solutions that advance and automate understanding of the earth and orebodies and deliver improved solutions for mining activities across the value chain.

Data capture and intelligence platforms that include TruScan, an in-field sample sensing platform; TruSub, a rod string system; and TruProbe, which allows for driller deployable downhole sensing without a logging truck.

A foundational, integrated cloud that gives teams anywhere in the world access to these technologies, enabling them to access orebody data in near real-time, at a higher definition, and with lower sampling error.

"Veracio combines a century of expertise with cutting edge innovation to deliver on this vision," added Ravella.

From economic models and mine designs to mine safety and more efficient mining operations, Veracio technologies will enable significant commercial, environmental and sustainability outcomes for existing assets and greenfield projects that benefit from better orebody knowledge.

"As a stand-alone entity infused with Boart Longyear's rich legacy of innovation and deep mining heritage, Veracio is uniquely positioned to aid mining customers in meeting the unprecedented minerals demand that is fueling the transition to a more sustainable economy," said Veracio Chairman Jeff Olsen.


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