XtremeX Mining Technology (XMT) is set to deploy its AC-electric automated coiled tubing and electric top-drive diamond core drilling rig at Ivanhoe Electric’s Santa Cruz copper project in Arizona.
This system will be tested in a funded field trial at the Santa Cruz project.
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The trial aims to reach depths of up to 2,000m by replicating historic drill holes.
Ivanhoe Electric has secured exclusivity on three XMT rigs for contracts lasting up to a period of five years.
The XMT rig is said to adapt “proven oil and gas technology” for mining, promising safer, quicker and more sustainable drilling.
This patented hybrid drilling system builds on the success of an earlier prototype developed by the XMT team.
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By GlobalDataIt is said to be designed to improve drilling speed and core recovery, and produce high-fidelity drill chips.
This follows XMT’s Series-A funding of $11m led by GoGreen Partners, which will support the development and field deployment of the first hybrid rig at Santa Cruz.
XMT CEO Matt Porter said: “This hybrid coiled tubing rig will combine AC-electric power with highly automated controls enabling diamond core, rotary and coiled tubing drilling. It offers a versatile solution for mineral exploration and delineation drilling.
“This technology provides a compelling value proposition by delivering faster, safer drilling operations and generating more information per dollar spent.”
GoGreen Partners has assembled a consortium of companies to ensure the manufacture and launch of the rig.
This includes Precision Drilling, preferred supplier Baker Hughes and other partners such as the Mines Venture Fund 1.
XMT founder and chairman Tom Wood said: “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.
“The XMT team has a history of developing and commercialising some of the most advanced coiled tubing drilling systems. XMT’s proven track record, coupled with Precision Drilling’s rig technology and land drilling market position, creates a formidable team to build our first rig.
“Additionally, GoGreen’s introduction of Ivanhoe Electric, an innovator and world leader in mineral exploration, to test the rig at its Santa Cruz copper project is an exciting opportunity to prove the technology in the field.”
