Val-d’Or, January 2, 2024 – LithologIQ, a Quebec-based company specializing in rapid mineralogical analysis, and Eldorado Gold Quebec, an innovative mining company, jointly announce the launch of a strategic pilot project. This initiative is supported by the Quebec government through its representative Investissement Québec (IQ) and Economic Development Canada for the regions of Quebec (CED), with key support from Groupe MISA. LithologIQ is also receiving consultancy services and funding through the Industrial Research Assistance Program of the National Research Council of Canada (NRC IRAP) to facilitate the implementation of this project.

The pilot project aims to demonstrate the economic and operational benefits of a disruptive technology within the mining industry, particularly in terms of accelerated and cost-effective acquisition of geoscientific data.

LithologIQ is revolutionizing industrial mining practices by offering digital tools for the rapid and precise acquisition of mineralogical data. This solution, crucial for geologists, has a significant impact on costs, operations, and environmental challenges associated with mining exploration.

Traditionally, the manual acquisition of mineralogical data on drill cores poses a major challenge due to the lack of on-site rapid analysis tools that meet cost, speed, and workflow compatibility constraints. LithologIQ addresses these challenges in collaboration with Eldorado Gold Quebec.

In partnership with Eldorado Gold Quebec, LithologIQ will lead a pilot project integrated into the mining company’s exploration activities. The goal is to demonstrate the positive impact of this new technology on data quality, collection time, and costs associated with decision-making.

LithologIQ receives financial support from NRC IRAP, the government of Quebec, and DEC, which has provided a repayable contribution of $150,000 under its Regional Economic Growth through Innovation program. Groupe MISA, a key player in innovation in the Quebec mining industry, provides strategic support to position LithologIQ’s solution to meet the sector’s needs.

LithologIQ proudly commits to the digital transformation of the mining industry with a promising Quebec-made technological solution, potentially deployable at the national and international levels.

“At Eldorado Gold Quebec, we envision being creative and fostering the development of innovations, particularly through partnerships. We are pleased to collaborate on the implementation of Lithologiq’s pilot project by hosting the device on our site for a testing period of a few months and providing a total of 10,000 meters of drill cores for the initial analyses. We are hopeful that the automation of drill core readings will result in efficiency gains for our team.“ Jacques Simoneau, Director of Exploration, Eastern Canada, at Eldorado Gold Quebec.

“The adoption of optical and data processing technologies shifts drill core analysis into the digital era. These are true breakthrough technologies. Geological models will be built on more precise, diverse, and abundant data. Digitizing mineralogical data at the source will reduce acquisition and processing costs. The data is thus available and valued at every stage of the mineral development process, including extraction and restoration. With LithologiQ, we are establishing centers of expertise in Quebec that will be able to shine globally.” Alain Beauséjour, General Manager of Groupe MISA

“Assisting companies in growing and innovating so they can strengthen their competitiveness is at the heart of our priorities. That’s why the Government of Canada supports LithologIQ, which will continue to innovate in a cutting-edge field. There is no doubt that the success and impact of its project will benefit the region, Quebec, and Canada. SMEs are essential economic engines, and I am delighted with DEC’s support for this thriving company’s project.” The Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for DEC

“Quebec has the potential to revolutionize data processing in the mining industry. It is through this kind of innovation related to the digital transformation of businesses that we create wealth for the entire Quebec.” Pierre Fitzgibbon, Minister of Economy, Innovation, and Energy, Minister responsible for Regional Economic Development, and Minister responsible for the Metropolis and the Montreal region.