VAL-D'OR, QC, Nov. 23 /CNW/ - Orbit Garant Drilling Inc. (TSX: OGD) today announced that it has entered into a major contract with Maudore Minerals Ltd. (TSX-V: MAO) to provide surface drilling services at Maudore's Comtois High Grade Gold Project in the Lebel-sur-Quévillon area, north of Val-d'Or, Quebec, Canada.
Under terms of the contract, Orbit Garant will utilize 3 drill rigs to complete 70,000 metres of drilling at the Comtois project located in the Abitibi Greenstone Belt, 15 kilometers from Lebel-sur-Quévillon.
"We are excited to be entering into such an important contract for a new gold customer in the Abitibi region," said Eric Alexandre, President and Chief Operating Officer of Orbit Garant. "This contract with Maudore, which recently completed an equity financing, is a prime example of our commitment to expand our business with well-financed junior companies."
About Orbit Garant
Orbit Garant is one of the largest Canadian-based drilling companies, providing both underground and surface drilling services in Canada and internationally through its 139 drills and more than 500 employees. Orbit Garant provides services to major, intermediate and junior mining companies, through each stage of mining exploration, development and production.
About Maudore Minerals
Maudore Minerals Limited owns 100% of the Comtois High Grade Gold Project in Quebec, Canada. Comtois' current Inferred Mineral Resource (RPA, 2002) stands at 524,000 ounces of gold (808,000 tonnes at 20.2 g/t Au (uncut)) or at 249,400 ounces of gold (808,000 tonnes at 9.6 g/t Au (cut at 30 g/t Au)). This resource is based on 66 holes drilled up to 2002. To date, Maudore has completed approximately 300 holes at Comtois, many of which returned high grade intercepts not included in the current resource calculation.
This press release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Orbit Garant Drilling Inc. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.
SOURCE Orbit Garant Drilling Inc.
For further information: For further information: Eric Alexandre, President and Chief Operating Officer, (819) 824-2707 Ext. 233; Derek Henderson, Investor Relations, (416) 447-4740 Ext. 232