XtremeX Mining Technology late Monday said Ivanhoe Electric (IE.TO) will carry out a field trial of its AC-electric automated coiled tubing and electric top-drive diamond core drilling rig at the Santa Cruz copper project in Arizona.
XtremeX said Ivanhoe will use the rig to drill down 2,000 meters to twin and test a historic hole at the property. The hole will be funded by GoGreen Partners and Ivanhoe will contract for three of the company's rigs for up to five years if the test is successful.
The company said it adopted drilling technology common in the oil and gas industry. It claims the technology improves drilling speed, core recovery, and produces anticipated high-fidelity drill chips.
"We are excited to collaborate with GoGreen Partners and a group of leading oil and gas technology companies, combined with mining sector technology providers to introduce this innovative hybrid coiled tubing and diamond core rig to the mining industry," said Tom Wood, XtremeX's board chair.
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