Geodrill Ltd, a leading West African based drilling company, has announced that it has been awarded a significant drilling contract with Centamin PLC at their Sukari Gold Mine, a low cost, bulk tonnage open pit and high grade underground gold mining operation in Egypt. The five-year contract, the largest in Geodrill’s history, is for a minimum 90,000 m of underground exploration and grade control drilling per year utilising five drill rigs, and is anticipated to generate revenues in excess of US$54 million over the term of the contract. The win also extends Geodrill’s footprint into a new geographical region.
“That Geodrill was awarded this contract is a testament to our operational performance, reputation for excellence and is in line with our strategy of focusing on long-term contracts with top-tier customers in new geographic regions driving future growth of our business,” said Dave Harper, President and CEO of Geodrill. “Not only does our business with Centamin complement our existing work, it will also help us counter cyclical industry downturns while at the same time delivering a significant, stable base of long-term revenue over the next five years.”
Geodrill currently operates a fleet of Boart Longyear LM90 modular diamond drill rigs which feature easily interchangeable components, allowing for space constraints without sacrificing depth requirements. The standard modular design includes a mobile platform in order to service larger underground mines, making movement between drill sites efficient.