Mineral exploration methodology inspired by Moneyball
February 26, 2018
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Orefinders Resources Inc. will be presenting its proprietary methodology which utilizes existing data, knowledge of geologic formations and incorporates the use of advanced analytics to improve its chances of exploration and development success.
Orefinders is calling this technology platform Exploration Moneyball, and it will process large amounts of private and public geologic data to assist the company in making data driven decisions in a cost-efficient way.
“Geology, at best, is an imperfect science. But, as data analytics and computing power have become more advanced and less costly, we are developing an intelligent solution which could give us an edge over our competition in the race to find and develop orebodies,” said Stephen Stewart, Orefinders CEO. “We are not the New York Yankees of the mining world, and so we must work with the inputs we have and the constraints with which we are faced. Fortunately, there is an abundance of data on the geology of the Abitibi which will be the focus of our efforts. We are combining this data, with advanced analytics along with the most important component which is human expertise.”
The Exploration Moneyball platform is being developed by Orefinders Vice President of Exploration Charles Beaudry, who is also the Chair of the PDAC’s Geoscience Committee.
“This is led by Charles who is one of the foremost experts on the Abitibi and a geodata scientist. This is where the art meets the science of geology,” said Stewart. “We are calling this Moneyball because we were inspired by innovators like Billy Beane, GM of the Oakland Athletics, who shifted to paradigm by finding different, and more economical, ways to compete.”
Orefinders presentation is “Orefinders Exploration Moneyball: Using big data and advanced analytics to solve some of the Abitibi’s geologic riddles,” and will be held during the PDAC Conference on March 6, at 9:25am, Room 711 in the Metro Toronto Convention Centre South Building.
(Orefinders Resources Inc.)