The OCRIS suite of software products is claimed to allow fast and accurate data management, while streamlining collection.

OCRIS Logix is a key component of the software, and is a set of rules with a workflow procedure which will ensure accuracy and compliance, the company said.

Developer Philip Little said: "Mining and exploration companies spend millions of dollars on exploration, but if their data is not reliable then securing finance for projects won’t be easy, which is risky in tough time such as these.

"Investing in accurate and compliant data using OCRIS costs less than one per cent of the amount to drill a hole."

OCRIS covers various stages of company growth and all phases of exploration and mining projects.

Expedio managing director Lara Groves said that the system maximizes the value of data derived from exploration by enabling the collection of JORC compliant data.

"This gives financiers and brokers confidence, making it easier for miners to move from exploration to production and then expenditure to revenue," Groves added.