Acoustic Zoom closes $1.3 million from Goldcorp after #DisruptMining win

Disrupt Mining

Newfoundland-based Acoustic Zoom, which maps geological formations deep within the earth’s micro-structure for the mineral exploration sector, has closed a $1.3 million CAD contract from Goldcorp.

Acoustic Zoom was the winner of Goldcorp’s #DisruptMining competition hosted in early March, which included the chance to negotiate up to $1 million USD in investment. Acoustic Zoom also had the opportunity to negotiate a proof-of-concept at a GoldCorp location.

As part of the investment, Sergio Espinosa, director of geophysics at Goldcorp, will join Acoustic Zoom’s board of directors. A $197,000 CAD pilot program will launch this summer at Goldcorp’s Red Lake Gold Mines in Ontario.

“#DisruptMining completely accelerated our business, and we thank Goldcorp for sharing our vision to drill smarter using innovative technology,” said Jacques Guigné, CEO of Acoustic Zoom. “The strength of our approach is the ability to adapt our imaging techniques to the requirements of a particular site. Working with Goldcorp’s geologists, we will use our winning seismic technology to deliver unique imaging data that adds risk-mitigating value from exploration to mine planning.”

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.