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* * * * /photos/framesniper/153464496/ CC Attribution-NoDerivs License Jeff Ryan * /photos/lonelymoose Attribution-NoDerivs License lorelei * * Toronto, Ontarios Goldcorp Inc. launched the Internet gold rush… http://www.innovation.gc.ca/gol/innovation/stories.nsf/veng/ss01056e.htm /innovate/content/feb2007/i774736_page_2.htm /magazine/59/mcewen.html By the mid-1990s, Rob McEwen, Chairman and CEO of Torontos Goldcorp Inc., was convinced that there was more gold to be found in his companys Red Lake Mine, despite expert opinions to the contrary. Located near Balmertown, Ontario, the mine had been in production since 1948, but was a small, costly and capital-starved operation with a very uncertain future. For Red Lake Mine to survive, big changes were required. Therefore in February 1995, Goldcorp launched a US$7-million exploration program, the most aggressive in its history. Forty-five days later, Goldcorps geologists made a significant gold discovery at the bottom of the Red Lake Mine and shattered the accepted geological model for the area. Over the next three years, Goldcorps exploration efforts continued to meet with success. The discovery revealed a deposit that was large enough to be economically mined, despite the fact that the price of gold had fallen to a 20-year low.For McEwen, the big questions were: How big is this deposit? and How long will it take to find out? To answer these questions, Goldcorps geologists held a two-day brainstorming session. The open sharing of ideas focussed the exploration efforts. Greatly encouraged by the positive results, McEwen wanted to engage a larger community of experts in a much greater brainstorming session: the Goldcorp Challenge.For this competition, Goldcorp publicly shared all of its geological data from the past 52 years and offered US$500 000 in prizes for determining where they might find the next 6 million ounces of gold at the Red Lake Mine, regardless of whether gold was found. I wanted to