Natural Resources committee  That's correct.

Natural Resources committee  The deeper applications are in support of petroleum exploration and identifying gross characteristics of the sedimentary base and where the oil traps are contained. In many situations, basement structures that affect how the sediments are deposited have an important impact on where the traps are and the types of traps.

Natural Resources committee  It's a great question. In areas where you have other geoscience information, where there's some historical drilling, say, or GSC mapping, you can calibrate your data versus known hard points of information and extrapolate it. In areas where you know absolutely nothing, certain types of interpretation will be extremely accurate.

Natural Resources committee  It depends on the application. In some situations--what we call direct detection--if you're looking for something that is very large and very heavy, like an iron ore deposit or coal deposits, a company may be comfortable going directly to drilling from the airborne data. In the situation of a petroleum company, where the cost of a well may be in the order of tens of millions of dollars, they're probably going to look to have additional information to mitigate the risk in that decision.

Natural Resources committee  It doesn't require a lot of power. Really, almost nine-volt batteries is all it requires.

Natural Resources committee  No.

Natural Resources committee  No. That's not the application.

Natural Resources committee  No, it can't.

Natural Resources committee  I don't believe I used a “use it or lose it” quote, but I'll try to answer the question anyway. Within a ten-minute context we have to focus our message, and our message is the benefits of this technology in this application. Our technology will focus exploration efforts in areas where it should be focused, and minimize environmental impact and activities in areas where it should never be in the first place.

Natural Resources committee  Yes, absolutely. They're icons.

Natural Resources committee  You don't want to toot your own horn too much. It's brand new data that has never been available before, with this cost basis and speed, so it's extremely significant. As for the strategic partners and the amount of time and continuity that have gone into the technology, I think that echoes with the industry's recognition of the significance of the measurement.

Natural Resources committee  In itself, it doesn't do anything to the terrain. It doesn't emit any signals. There's no impact. It's a passive system, so it's measuring natural fields that are occurring. Essentially, it will very accurately and quickly calculate how the masses of geology are changing beneath the surface.

Natural Resources committee  That would be a big simplification. I think we can produce the most meaningful data to help resource companies determine that. It's not a silver bullet on its own. It's better than anything that's out there today, but it actually integrates very well with best practices. You would work with this data along with existing magnetic data or drilling data or seismic data.

Natural Resources committee  The system will be I think definitive in finally evaluating the prospectivity of the Ring of Fire. Again, the challenge in the Ring of Fire today is that you have two existing ore bodies and the challenge of bringing in infrastructure north from Nakina, whether by rail line or road--and power.

Natural Resources committee  That's correct.