The five-year contract, one of the largest in Geodrill’s history, involves a minimum 90,000 m of underground exploration and grade control drilling per year utilizing five drill rigs.
“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. The deal is expected 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,” he added
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.
Sukari mine is a gold mine located in the Nubian Desert/Eastern Desert near the Red Sea in Egypt, in the south-east of the country in the Red Sea Governorate, 30 km south of Marsa Alam. It is exploited jointly by the Egyptian Ministry of Mineral Resources and Centamin. It is Egypt’s first modern gold mine. Egypt was known in the ancient world as being a source of gold, and one of the earliest available maps shows a gold mine at this location.