ALS Limited has acquired minority interest in TerraCore Inc
ALS Limited has acquired a minority interest in TerraCore Inc., a provider of hyperspectral mineralogical imaging. TerraCore Inc is based in Reno, Nevada with a group of technical specialists also located in Johannesburg, South Africa. The group has developed equipment and software that provides high resolution hyperspectral scans of drill core, drill cuttings and rock materials that are used to identify minerals and other features of the scanned materials.
ALS Gechemistry has worked closely with TerraCore Inc over the past three years as we developed a jointly-deliverable hyperspectral analytical package for mining clients. That effort has produced a very competitive product that integrates with geochemical and other data and is presented to clients using CoreViewer™, ALS Geochemisty’s data integration platform. ALS Geochemistry and TerraCore Inc offer clients around the world access to this technology through a cooperative agreement to share marketing and geographical infrastructure such that TerraCore Inc is able to locate its equipment in ALS laboratories and access ALS clients working anywhere in the world.
Significantly, ALS Oil & Gas plans to locate a TerraCore Inc scanning unit in their recently completed facility in Houston Texas. ALS Oil & Gas and TerraCore Inc both believe that the application of hyperspectral scanning technologies will present a key differentiator to the Oil and Gas market where rapid and systematic identification of mineralogical information is a valuable component of core analysis.
ALS Geochemistry hosts TerraCore Inc. scanning units in several locations around the world and will continue to provide a cooperative approach to location access and marketing in order to help TerraCore Inc expand its business presence. In addition, we will continue to work on ways to more completely integrate our product offering so that it presents increasingly useful ways to examine and extract data critical to mining and mineral processing decisions.
TerraCore Inc CEO, Mark Landers, said it is an exciting opportunity for employees and the clients we serve.
“Having ALS Limited as an investor and close partner will allow us to expand our services and technology development rapidly for both the exploration and production sides of the mining and oil/gas markets. We will be able to provide greater access to a wider portfolio of not only core imaging but information technology services.
Our shared commitment to develop advanced client services and building strong, enduring relationships will allow TerraCore to become the indispensable source of knowledge about geospectral imaging and analysis.”
Bruce McDonald, Executive Vice President
Oil & Gas –
Mark Beach, Managing Director
Reservoir Laboratories & Surface Logging