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Akobo Minerals signs Contract with Midroc for a second core-drilling Rig – significantly expanding Production Capacity Featured

Akobo Minerals will soon be working with a total of three core drilling rigs in field, including one company owned drill rig. The experience and performance with the first drill rig from Midroc Geo/Exploration Services PLC (“Midroc”) has met expectations hence a contract amendment has been signed for a second drill rig to be engaged.

This allows for much faster development towards mining and extension of the Segele mineral resource;

  • Core drilling is a critical step in the extension and advancement of mining planning at the Segele Mineral Resource; while also advancing scout drilling at Joru
  • So far Akobo Minerals has produced a total of 9,400 m drilling with its own drill rig and a contract rig from Midroc
  • With the third drill rig in operation a production rate of 90 - 120 meters per day is expected

This new drill rig is already located at the Segele project and is expected to be in operation within a few days. The additional core drilling capacity will allow the company to perform extension drilling and infill drilling simultaneously at Segele, while also advancing the scout drilling program at Joru.

Midroc Geo/Exploration Services PLC is a subsidiary of Midroc - Mohammed International Development Research and Organization Companies (Midroc Group). While the Midroc Group has Swedish and global operations, within Ethiopia the organization made important contributions to Ethiopian society through operation of the Lega Dembi Gold Mine since 1998. Midroc also owns 70% of National Oil Ethiopia, the Tossa Steel Plant, cement production facilities and many other operations.

The drilling arm of Midroc has completed well over 80,000 m of core drilling in throughout Ethiopia and has a fleet of 5 drill rigs and an operations team of well over 50 people.

Source: Akobo Minerals

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