Major Drilling Mongolia Signs New Contract with Ivanhoe Mines Mongolia for the World's Largest Multipurpose Drill Rig
MONCTON, NB, Oct. 6, 2003 - Major Drilling Group International Inc. (TSX:MDI) today announced that Major Drilling Mongolia XXK has entered into a new contract with Ivanhoe Mines for the supply of a UDR 5000, to be utilized at Ivanhoe's Turquoise Hill (Oyu Tolgoi) gold and copper discovery in southern Mongolia.
The UDR 5000 is the world's largest multi purpose mineral exploration drill rig. It is a very high capacity, specialized, deep-hole rig which is highly effective in diamond coring and rotary drilling techniques. Featuring a 12 metre rod pull and mast platform, the UDR 5000 offers excellent productivity at depth.
The contract provides for a minimum of 15,000 metres of diamond core drilling in what is the third phase of the operation. Major Drilling Mongolia has fourteen drill rigs on site already, drilling around the clock for approximately the next twelve months, including several high capacity UDR 1000's and UDR 1500's with directional capability. The UDR 5000 drill program will involve diamond coring to depths of up to 3,000 metres (9,842 feet). Major Drilling Mongolia is scheduled to fly the rig into Mongolia by October 11th, aboard an Antonov, one of the world's largest aircraft.
The directional drilling capability of this rig is necessary to effectively delineate the location of a high grade core to the Far-north Discovery Zone that has now been delineated to true vertical depths of 2,200 metres. This contract will also allow Ivanhoe to aggressively pursue the expansion of the identified zones of mineralization at Turquoise Hill, and to test other high-priority targets on the property.
Major Drilling Mongolia is a subsidiary of Major Drilling Group International Inc, and has an established branch office in Ulaanbaatar, the capital of Mongolia. The company continues to respond to the requirements of the Ivanhoe program and to pursue other opportunities in Mongolia, with the continuing support and resources from its related Australian and Canadian operations.
Based in Moncton, New Brunswick, Major Drilling Group International Inc. is one of the world's largest metals and minerals contract drilling service companies, providing underground and surface diamond drilling, reverse circulation percussion drilling and directional drilling services to the metals and minerals industry world wide. To support its customers' mining and mineral exploration activities, the Major Drilling group operates from branches in Canada, the United States, Europe, South and Central America, Australia, Indonesia, Turkey, Tanzania and Mongolia.
Some of the statements contained in this release may be forward looking statements, such as estimates and statements that describe future plans, objectives or goals, including words to the effect that the there is an expectation that a stated condition exists or will occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ from those currently anticipated in such statements by reason of factors such as, but not limited to, changes in general economic and market conditions. Any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, is disclaimed.
For More Information Contact
Mike Pavey
Chief Financial Officer
Tel: (506) 857-8636
Fax: (506) 857-9211
Mike.pavey@majordrilling.com
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