MONCTON, NB, May 4 /CNW/ - Major Drilling Group International Inc. (TSX:MDI) today announced that P.T. Pontil Indonesia, a wholly owned subsidiary, has been awarded a three year extension to their existing contract to supply surface and underground exploration drilling at P.T. Freeport Indonesia's Grasberg Mine in the Province of West Papua.
PT Pontil's existing service contract was due to expire on January 31, 2008. This extension now takes the contract term through to January 31, 2011. Over the past four years there has been in excess of 120,000 meters of drilling conducted each year. It is currently anticipated that this level of drilling will continue.
PT Pontil maintains their head office in Jakarta Indonesia, with a site office located at the Freeport mine site. In addition to this on-site support, the Indonesian operations are supported from Major Drilling's office located in Brisbane, Australia.
Some of the statements contained in this press release may be forward-looking statements, such as estimates and statements that describe or are with respect to the future price of minerals and metals, the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition to exist or occur. 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 such as, but not limited to, the factors set out in the discussion starting on pages 20 to 23 of the 2006 Annual Report entitled "General Risks and Uncertainties", as augmented by the section entitled "General Risks and Uncertainties" in the discussion of the Company's second and third quarter MD&A, each as filed with the Canadian Securities Commission (available on SEDAR at www.sedar.com). All such factors should be considered carefully when making decisions with respect to the Company. The Company 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.
Based in Moncton, New Brunswick, Major Drilling Group International Inc. is one of the world's largest metals and minerals contract drilling service companies. To support its customers' mining operations and mineral exploration activities, Major Drilling maintains operations in Canada, the United States, Mexico, South and Central America, Australia, Indonesia, Africa and Mongolia.