Major Drilling Group International Inc. (“Major Drilling” or the “Company”), a top provider of specialized drilling services for the mining sector, has announced a new partnership with DGI Geoscience Inc. (“DGI”), a leading downhole technology company, and its affiliate, KORE GeoSystems Inc. (“KORE”), an innovator in artificial intelligence-powered core logging technology.
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Thanks to this strategic alliance, Major Drilling is positioned to lead the drilling industry's AI developments. The company can offer clients valuable data by combining KORE's digital rock analysis platform with Major Drilling's fleet, knowledgeable drilling teams, and TrailBlazer Rock5 technology. This is used with DGI's borehole data collecting services to provide a unique service that has not yet been seen in the market.
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 Chief Executive Officer, Major Drilling Group International Inc.
Marc Landry, Chief Technology Officer 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 the processing of core logging, greatly reducing time and improving consistency, enabling our customers to get real-time, remote access to results across the globe.”
As per the agreement, Major Drilling will pay $15 million (CAD) in cash consideration to purchase approximately 40% of DGI/KORE. Toronto-based growth equity firm Canadian Shield Capital is selling its stake in DGI/KORE as part of this investment.
For Major Drilling, the transaction's value lies in adding geological solutions to the specialist drilling, which offers a distinctive service offering that includes the newest cutting-edge technology.
This investment helps the company maintain its position as the drilling industry's go-to contractor by offering solutions that speed up the clients' operations by supplying timely, high-quality data that enhances their geological models.
We are thrilled to support Major Drilling with KORE’s cutting-edge SPECTOR integrated technology suite.
Vince Gerrie, P.Geo, President and Chief Executive Officer, KORE GeoSystems Inc
Chris Drielsma, P.Geo, President and CEO of DGI, said, “Our transformative AI-powered digital core logging platform significantly increases productivity, and consistency, and enhances data insights for our customers. 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 maximize the value from drilling through our geoscience solutions.”