North Bay's Drillco Mining and Exploration is developing the first clean-tech modular drilling system available to the mining industry, today it received a $750,000 repayable loan from FedNor.
The system has been developed to serve the needs of exploration drilling both underground and on surface.and has been in the works for roughly five years.
See: Drillco ready to hit market with innovative drill
Drillco will use the funding to complete the final phase of development for its clean-tech modular drilling system and allow the firm to manufacture five demonstration units to be sold and tested in real-world mining environments. Once complete and fully commercialized, the clean-tech modular drilling system will help mining firms improve operational efficiency and achieve greater environmental sustainability.
“This exciting initiative will allow us to capitalize on an immediate opportunity to create the first clean-tech modular drilling system available for use in the mining industry," said Sylvain Brisson, President and Founder of Drillco Mining and Exploration. "We are pleased to partner with FedNor to develop this new technology and we look forward to the results it will achieve for our clients and the positive impact it will deliver for the health of companies and the environment.”
Since its inception in 2013, Drillco Mining and Exploration has conceptualized, designed, modeled, engineered, prototyped and started testing the industry's first diamond core clean-tech modular drilling system that is capable of performing mineral drilling work on the three standard applications - surface, underground and heli-portable (fly-in).
"This investment in Drillco will help protect the environment, strengthen the economy and create high-quality middle-class jobs right here in North Bay,” said MP Anthony Rota,
