Van Sun says Integra Gold offers $1-million prize ! Who knows,,Integra may get a call from Goldcorp for JV ??
Van Sun says Integra Gold offers $1-million prize
2015-06-24 06:49 ET - In the News
The Vancouver Sun reports in its Wednesday edition Integra Gold's Sigma-Lamaque mine in Quebec comes with 70 years of prospecting data. A Bloomberg dispatch to The Sun says now Integra is putting on-line the six terabytes of information for the public to analyze. Whoever finds the next multimillion-ounce deposit wins a $1-million prize. Integra is betting the crowdsourcing initiative can create some much-needed innovation, said Stephen de Jong, chief executive officer. With traditional sources of financing hard to access, "Now are the times when we really need that innovation," Mr. de Jong said. The end of a decade-long commodity bull market is forcing mining companies to cut back on research and exploration.
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Opening up the data will let people who are not usually involved in exploration bring creative data analysis methods to the table. Integra modelled the contest after a similar challenge held by Goldcorp in 2000, which helped it find millions of ounces. Integra is offering 15,000 times as much data. With the power of social media, it is expecting to attract many more participants than Goldcorp's 1,400. If successful, the project will prompt larger miners to think about opening their own data troves.