First of a kind 'IBM Exploration with
Watson' solution launches in
Canada
VANCOUVER, Nov. 26, 2018 /CNW/ - GOLDCORP INC. (TSX:G,
NYSE:GG) ("Goldcorp") IBM (NYSE:IBM) ("IBM") Goldcorp and IBM
Canada have co-authored an innovative first of a kind technology
product: IBM Exploration with Watson will improve predictability for gold
mineralization. The solution applies artificial intelligence to
predict the potential for gold mineralization and uses powerful
search and query capabilities across a range of exploration
datasets.
"The potential to radically accelerate exploration target
identification combined with significantly improved hit rates on
economic mineralization has the potential to drive a step-change in
the pace of value growth in the industry," said Todd White, Executive Vice President and Chief
Operating Officer, Goldcorp.
Developed using data from Goldcorp's Red Lake Gold Mines in
northern Ontario, IBM Exploration
with Watson leverages spatial
analytics, machine learning and predictive models, helping
explorers locate key information and develop geological
extrapolations in a fraction of the time and cost of traditional
methods.
"Applying the power of IBM Watson to these unique challenges
differentiates us in the natural resources industry," said
Mark Fawcett, Partner with IBM
Canada. "We are using accelerated computing power for complex
geospatial queries that can harmonize geological data from an
entire site on a single platform. This is the first time this
solution has been ever used, which makes this project all the more
significant."
At Red Lake, IBM Exploration
with Watson provided independent
support to drill targets planned by geologists via traditional
methods and proposed new targets which were subsequently verified.
Drilling of some of these new targets is ongoing, with the first
target yielding the predicted mineralization at the expected
depth.
"Timelines are short in mining and exploration. I am excited to
see the improvements we can make with the data platform and gold
mineralization predictions," said Maura
Kolb, Goldcorp's Exploration Manager at Red Lake Gold Mines.
"These tools can help us view data in totally new ways. We have
already begun to test the Watson
targets from the predictive model through drilling, and results
have been impressive so far."
The IBM Watson initiative recently earned Goldcorp a prestigious
Ingenious Award in the large private sector category from the
Information Technology Association of Canada (ITAC). The ITAC award for Goldcorp's
Cognitive Journey recognizes excellence in the use of information
and communications technology by organizations to solve problems,
improve performance, introduce new services, and grow business.
Goldcorp will put the new technology to work on additional
targets in 2019.
About Goldcorp www.goldcorp.com
Goldcorp is a senior gold producer focused on responsible mining
practices with safe, low-cost production from a high-quality
portfolio of mines.
About IBM Canada www.ibm.com/ca-en/
Cautionary Note Regarding Forward-Looking Statements
Certain disclosures in this document constitute forward-looking
statements. In making the forward-looking statements, the Company
has applied certain factors and assumptions that are based on the
Company's current beliefs as well as assumptions made by and
information currently available to the Company, including that the
Company is able to execute the challenge in accordance with the
terms described herein. Although the Company considers these
assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements are subject to numerous risks,
uncertainties and other factors that may cause future results to
differ materially from those expressed or implied in such
forward-looking statements. Such risk factors include, among
others, those matters identified in its continuous disclosure
filings, including its most recently filed annual information form.
Readers are cautioned not to place undue reliance on
forward-looking statements. The Company does not intend, and
expressly disclaims any intention or obligation to, update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
For further information please contact:
INVESTOR
CONTACT
|
MEDIA
CONTACTS
|
Shawn
Campbell
Goldcorp Investor
Relations
Telephone: (800)
567-6223
E-mail:
info@goldcorp.com
|
Christine
Marks
Goldcorp
Communications
Telephone: (604)
696-3050
E-mail:
media@goldcorp.com
Lorraine
Baldwin
IBM
Communications
Telephone: (778)
230-5600
E-mail:
lorraine@ca.ibm.com
|
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SOURCE Goldcorp Inc.