Geo Exploration Appoints Leading Driller for Juno Project Maiden Campaign
Why we think this is good
The announcement of Geo Exploration Limited securing a contract with DDH1 Drilling, a leading provider of diamond core drilling services in Australia, for the maiden drilling campaign at the Juno Project is a positive development. The company has partnered with an experienced and reputable drilling contractor, which should help ensure the successful execution of the exploration program. While the financial details of the contract are not disclosed, the RNS suggests the regulatory requirements are either complete or in progress, and the execution risk appears relatively low given DDH1's industry-leading safety record and proven track record. Overall, this contract win represents an important step forward for the company's Juno Project and is likely to be viewed positively by investors.
Key Points
- GEO Exploration Limited has appointed DDH1 Drilling Pty Ltd as the drilling contractor for the maiden diamond core drilling programme at the Juno Project in Western Australia
- DDH1 is Australia's leading and largest provider of diamond core drilling services, with a modern fleet, highly experienced crews, and an industry-leading safety record
- The appointment reunites DDH1 with GEO's JV partner Callum Baxter, who has previous experience working with DDH1 on Greatland Gold's maiden drill holes at Havieron in 2018
- Drilling is scheduled to commence this current quarter, and the regulatory requirements are either complete or in progress
Summary
GEO Exploration Limited has entered into a contract with DDH1 Drilling Pty Ltd, Australia's leading provider of diamond core drilling services, to undertake the company's maiden drilling programme at the Juno Project in Western Australia. DDH1 has an outstanding safety record and proven track record, and the company's partnership with GEO's JV partner Callum Baxter, who has previous experience working with DDH1, adds further confidence to the execution of the programme. The drilling is scheduled to commence this quarter, and the RNS suggests the regulatory requirements are either complete or in progress. While the financial details of the contract are not disclosed, this contract win represents an important step forward for the Juno Project and is likely to be viewed positively by investors.