Perth-based drilling technology company Coretrack has signed a $2 million-plus rig services contract with Newcrest Mining for use of its GT3000 drill rig.
Coretrack chairman Matt Birney said the company would perform a significant mineral coring drill program at Newcrest’s Telfer operations.
“We anticipate the contract value to be in excess of $2 million and we expect that this will keep the GT3000 rig busy right up until the previously announced Whicher Range oil and gas contract commences towards the end of the year,” Mr Birney said.
“The signing of this contract with Newcrest is yet a further endorsement of the rig’s unique capabilities.”
Newcrest group manager of minerals and technology, Dean Collett, said the company was looking forward to using the rig at Telfer, as it has capabilities outside the scope of a standard drill rig.
“The holes are to be cased and cored and we feel that the Coretrack GT3000 is best suited to undertake this work.”
At 12:00PM (WST) Coretrack’s stock was up 10 per cent, to 11 cents.