Contract Extension at Geita Gold Mine, Tanzania

RNS Number : 2232K

Capital Drilling Limited

12 December 2018

 

For Immediate Release

12 December 2018

Capital Drilling Limited
("Capital Drilling", the "Group" or the "Company")

Contract Extension at Geita Gold Mine, Tanzania

Capital Drilling Limited (CAPD:LN), a leading drilling solutions company focused on the African markets, is pleased to announce that it has secured a one year extension agreement at Anglo Gold Ashanti's Geita Gold Mine, for the continuation of underground exploration and underground grade control drilling services.

The contract extension will commence in January 2019 and will utilise the existing underground drill rig fleet currently located at the site.

The underground drilling services represent a sub contract of the comprehensive drilling services contract with Geita Gold, which encompasses blast hole, grade control, delineation, exploration and underground drilling. The master contract is a five year contract running to December 2020, with Capital Drilling having commenced drilling operations at the Geita Gold Mine in 2006.

Commenting on the contract extension, Jamie Boyton, Executive Chairman said:

"The experience Capital Drilling has gained at the Geita Gold Mine over the past thirteen years underpins our strategy of targeting Tier 1 long life assets with quality operators.  We continue to deliver excellent operational results for AngloGold Ashanti and are pleased to have the extension of the underground drilling contract for a further year."

For further information, please visit Capital Drilling's website www.capdrill.com or contact:

Capital Drilling Limited                                                       [phone]

Jamie Boyton, Executive Chairman                                   [e-mail]

André Koekemoer, Chief Financial Officer

Peel Hunt LLP                                                                       [phone]

Ross Allister

James Bavister

Tamesis Partners LLP                                                          [phone]

Charlie Bendon

Richard Greenfield

Buchanan                                                                               [phone]

Bobby Morse                                                                        [e-mail]

James Husband

About Capital Drilling

Capital Drilling provides specialised drilling services to mineral exploration and mining companies in emerging and developing markets, for exploration, development and production stage projects. The Company currently owns and operates a fleet of 91 drilling rigs with established operations in Botswana, Côte d'Ivoire, Egypt, Ghana, Kenya, Mali, Mauritania and Tanzania. The Group's corporate headquarters are in Mauritius.

 

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