The company said the contract is for the Subika project, part of Newmont's Ahafo mine in Ghana.

Geodrill president and CEO Dave Harper said it is the operator's preferred underground diamond driller, and that the contract signifies a "natural transition and expansion" of its platform capabilities.

"We remain committed to maintaining our strategy of providing gold standard customer service with our fleet of highly efficient, well-maintained rigs, positioning Geodrill to continue to deliver strong financial results," he said.

Geodrill's client mix is made up majors, intermediates and juniors in the gold sector and explorers of other minerals. It currently has 58 drill rigs operating in Africa.