SGS Geostat Wins Integra's Gold Rush Challenge

Integra Gold Corp. (TSXV:ICG,OCTQX:ICGQF) announced that the SGS Geostat team has won first place in the Gold Rush Challenge. The finale of the Gold Rush Challenge was held Sunday night in Toronto as part of this year’s PDAC conference.
As quoted in the press release:

The SGS Geostat team beat out 4 other finalists and emerged as the winner with their submission that utilized a combination of machine learning and traditional geological methods to produce targets across the Company’s Lamaque project in Val-d’Or, Québec. SGS Geostat used sophisticated geostatistical methods to drive data into an expansive and unbiased block model. A prospectivity scoring system harnessed both geological knowledge and machine learning, a subfield of artificial intelligence, to identify high value targets, which were then vetted through Virtual Reality with Oculus Rift technology. The proposal impressed both the technical judges and the Industry Titans that evaluated their presentation in a “shark tank” live finale. As the winner, SGS Geostat was awarded C$500,000.

George Salamis, executive chairman of Integra, commented:

The Gold Rush Challenge has given Integra a platform to call on governments, mining companies and mining financers to get off the sidelines and get into the game. We are challenging traditional thinking and breaking new ground, embracing disruptive technology that is critical to the mining sector. The proposal from SGS Geostat represents the disruptive innovation we saw in the Gold Rush Challenge. We saw the tech sector and the mining sector collide and unravel the great mystery of discovery. SGS Geostat beat the odds, advancing out of the semi-final round and impressing the industry titans with their embrace of machine learning and virtual reality while also emphasizing the importance of tradition, data driven geology.

Click here to read the full Integra Gold Corp. (TSXV:ICG,OCTQX:ICGQF) press release.