|February 06, 2007|
Energold Announces Record Number Of Metres Drilled And Expansion Of Drill Fleet
|Energold Drilling Corp. ("the Company") is pleased to announce that it drilled a record number of metres for both the fourth quarter and the full year 2006. Energold's rapid expansion of its drilling capacity led to these new records. Metres drilled in the fourth quarter were in excess of 49,000. For the full year, 190,000 metres were drilled, up over 61% from 2005. |
Summary of Quarterly (Q) and Full Year Metres Drilled
The first quarter of 2007 has commenced with four new drills, the largest number of new drills ever simultaneously added. These new additions should result in significantly higher levels of activity for the full year as compared to prior years in which new rigs typically came on-stream mid summer.
Expansion of Drill Fleet
As of this date, the Company has a total of 30 drills either jointly or wholly-owned as compared to 23 drills in the comparable period of 2006, an increase of 30%. Two additional wholly-owned drills are currently under construction. The drills added during both the fourth and first quarters are all wholly-owned. Over the next 12-18 months, the Company anticipates the addition of approximately 6-8 of its Series II and Series III wholly-owned drill rigs.
Energold Drilling Corp. is an environmentally and socially sensitive diamond drilling company that services the mining industry. The Company fully consolidates the total meterage drilled by its 50.01%-owned Pac Rim Drilling S.A.C., 50%-owned subsidiary Kluane International Drilling and its affiliates. Energold also holds a controlling interest in silver producer IMPACT Silver Corp. and a project portfolio in the Dominican Republic.
On behalf of the Directors of Energold Drilling Corp.
"Frederick W. Davidson"
Darrell Rader - Corporate Development
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