Investors will be able to perform their own due diligence in a matter of minutes, thanks to a new online exploration data portal launched this week.

Discover Web 3D is the brainchild of Dan Haigh, the natural resources industry manager at pbEncom, which produces data modelling software for exploration projects.

After two years of development, this week Haigh has launched Discover Web 3D at the 2014 RIU Sydney Resources Round-Up.

This online portal gives users the opportunity to peruse 3D models of drilling data, which includes assay results.

Haigh said that pbEncom’s modelling software is used by most exhibitors at the Sydney Resources Round-Up, and that the new online portal is the first of its kind.

“Exploration companies spend hundreds of thousands of dollars on collecting, analysing and delineating data gathered by drilling projects,” Haigh said.

“What we’re now doing is taking that data and posting it on the web in 3D, which is the first time it’s ever been done.”

Haigh said that Discover Web 3D let’s exploration companies achieve a level of transparency that fosters confidence in investors.

“Trust is at an all-time low in the industry, and the competition for raising capital is really difficult, especially for the juniors, so this website lets companies rise above the crowd and say their project is worth investing in,” he said.

“It’s making their data work harder for them.

“As an investor, you’re looking for a target, you’re looking for the company to be proactive, and you’re looking for the management to have valid credentials, so this helps demonstrate all that.

“There’s a concern in the industry that despite JORC standards, there is an element of spin.

“What we say is if you’re an exploration company and you’re proud of your project, let people have a look.

“By being transparent this will encourage confidence, and ultimately will result in investment.”

Discover Web 3D is a paid product for exploration companies, but data can be accessed by users for free through an online link.

Haigh said that exploration companies can simply embed the link on their website so that potential investors can easily access their drilling data.

“The challenge for exploration companies is access to capital, so they need to proactively exhibit their asset worth and potential,” he said.

The drilling models can incorporate a slider button, which as moved shows how much drilling work was done over time.

“You can also set it to show you the progress of work according to dollars spent, so investors can ensure an exploration company has been fiscally prudent with their capital,” Haigh said.

“So it’s not only 3D, it can be 4D and 5D.”

Discover Web 3D currently has data on projects from six companies online, including projects in Australia owned by YTC Resources, Red Metal, Rox Resources, MacPherson Resources and Peel Mining.

Click on company logos on the map for access to 3D models of Australian drilling projects.