Geo Exploration (LSE:GEO) traded on the front foot through Monday's early deals, after appointing a contractor for a maiden diamond core drilling campaign at its Juno Project in Western Australia.
It hired DDH1 Drilling for the work, which the explorer said is on track to start this quarter.
For Geo, which is exploring in the vicinity of Greatland Resources' breakout Havieron gold mine discovery (which is now in development, and helped propel the formerly small-cap Greatland onto bigger things), the appointment is something of a renunion.
DDH1, part of the Perenti Group, experiences including Greatland Gold’s first drill holes at Havieron in 2018, and, also Geo’s joint venture partner, Callum Baxter, was involved in the early Havieron programme.
“It is pleasing to be working again with DDH1 at the large Juno target. Our combined experience and expertise will allow safe and efficient execution of the drill program at the project to test the target,” Baxter said.
Geo chief executive, Omar Ahmad, meanwhile, added: “We remain on track and on schedule, and this campaign marks the start of an exciting journey ahead with Juno project”.
In London, GEO shares were up 16.1% changing hands at 0.23p each, valuing the explorer at just over £9 million.