Geodrill Ltd says it has been awarded significant multi-rig long-term drilling contracts with Endeavour Mining, which will see it carry out work across its West Africa gold operations.
The contracts with Endeavour Mining are for a total 350,000 m of exploration and mine reserve drilling across its key West African operations for a period of two years. This will see Geodrill use up to 10 drill rigs from the company’s existing fleet.
The contracts are expected to generate revenues of $31 million over the term of the contracts.
Geodrill currently has a rig fleet of 71 drill rigs operating in West Africa, Egypt and Peru.
Geodrill President and CEO, Dave Harper, said: “This third significant contract win, within a relatively short time frame, and again with a key valued top tier gold producer, underscores the strength of our reputation and an endorsement of our drilling expertise in our core geographic region and beyond. Most importantly, these contracts add top-line revenue growth this year extending through to 2024 which will provide an even stronger base to build on.”
Endeavour Mining has operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt.