Major Drilling Achieves Record for Longest Diamond Drill Hole in Canada
MONCTON, New Brunswick, Jan. 30, 2020 (GLOBE NEWSWIRE) — Major Drilling Group International Inc. (TSX: MDI) is pleased to announce the achievement of longest diamond drill hole in Canada at the Osisko Mining Inc. Discover 1 project. The final length of Discovery 1 was 3467 metres.
Over the years, the Company has positioned itself as one of the largest specialized drilling operators in the world, by leveraging its skilled personnel, specialized equipment and robust safety systems.“It is an honor to have been a part of this monumental project,” Major Drilling President and Chief Executive Officer, Denis Larocque said. “We are proud of the hard work and expertise that our team has contributed along with Osisko Mining to reach this historic milestone in Canadian drilling.”Osisko President and Chief Executive Officer, John Burzynski, commented: “Discovery 1 is a great success and achievement. We are very proud of our Osisko team and Major Drilling for their tremendous work completing this hole.”Forward-Looking StatementsSome of the statements contained in this news release may be forward-looking statements, such as, but not limited to, those relating to: the level of activity in the mining industry and the demand for Major Drilling’s and Norex’s services; the Canadian and international economic environments and conditions; the post-acquisition accretion to Major Drilling’s financial results; organic growth opportunities; the impact of operational changes; and the expected closing date of the proposed acquisition. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements by reason of factors, risks and uncertainties such as, but not limited to, the factors set out in the discussion on pages 14 to 18 of the 2019 Annual Report entitled “General Risks and Uncertainties”, and such other documents as available on SEDAR at www.sedar.com. All such factors, risks and uncertainties should be considered carefully when making decisions with respect to Major Drilling. There can be no assurance that the proposed acquisition will occur as described or at all or that the anticipated benefits will be realized. The proposed acquisition is subject to the fulfillment of certain conditions, and there can be no assurance that any such conditions will be met. The proposed acquisition could be modified, restructured or terminated.Readers are cautioned not to place undue reliance on statements containing forward-looking information that are included in this press release, which are made as of the date of this press release. Major Drilling does not undertake to update any forward-looking statements, including those statements that are incorporated by reference herein, whether written or oral, that may be made from time to time by or on its behalf, except in accordance with applicable securities laws.About Major DrillingMajor Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, the Company maintains field operations and offices in Canada, the United States, Mexico, South America, Asia, Africa and Europe. Major Drilling provides a complete suite of drilling services including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive/longhole drilling, surface drill and blast, and a variety of mine services.For further information:
Ian Ross, Chief Financial Officer
Tel: (506) 857-8636
Fax: (506) 857-9211