NexTech AR Solutions Corp (CSE:NTAR) (OTCMKST:NEXCF) is bringing its augmented reality technology to the mining sector.
The Toronto-based company announced Tuesday that Romios Gold Resources (CVE:RG) (OTCMKST:RMIOF), a junior mining company, has contracted for NexTech’s 3D/AR omni-channel services to help showcase its exploration projects.
“Today’s announcement marks the beginning of a significant new use case and opportunity for NexTech’s AR Solutions in the mining sector,” the company said in a statement.
NexTech noted that the top 40 global mining companies, which represent a vast majority of the whole industry, reported some US$683 billion of revenue in 2018, according to Statista.
The company’s AR technology will help drive Romios marketing and client-education activities in 2020 while creating an enormous new business opportunity for NexTech.
"Romios Gold Resources is delighted to work with NexTechAR as we introduce Augmented Reality to the Resource industry together,” said Tom Drivas, president of Romios.
“We believe there is great value in allowing potential investors and industry experts to view core samples from our exploration projects in high-fidelity 3D. Going forward we will look to find other innovative ways to leverage this technology into our various marketing strategies, and pioneer together, new industry standards."
Core samples in 3D
NexTech CEO Evan Gappelberg noted that his company’s technology will help “Romios to bridge the gap by showing what actual core samples look like in 3D/AR for investors and potential investors creating a critical use case to Romios and the mining industry.”
He added: “We are always looking for new industries to leverage our AR solutions. The mining sector is certainly a new industry for us and we are the first companies to create 3D/AR core samples, which we believe could become a new industry standard for the entire mining industry.”
NexTech also said it will be attending PDAC, the world's premier mineral and exploration mining convention, March 1-4 at the Metro Toronto Convention Centre to showcase these core samples and mine for more business.
The company's recently traded 3.7% higher to US$1.39 a share on the OTC markets and was up 4% to C$1.83 a share in Toronto.
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