South West Pinnacle Exploration (SWPE) said it has won multiple exploration and drilling contracts worth Rs 215.3 mn including GST. The awards comprise a detailed exploration contract from Central Mine Planning and Design Institute Limited (CMPDI), two drilling work orders from Geomysore Services (India) Private Limited (GSIPL) and one work order awarded to its wholly owned subsidiary South West Resources Private Limited (SWRPL). The contracts span coal and gold projects in Chhattisgarh and Andhra Pradesh and cover both reverse circulation and diamond core drilling.

CMPDI, which is a wholly owned subsidiary of Coal India Limited, awarded SWPE a detailed exploration G-1 assignment in a coal block in Chhattisgarh valued at Rs 140.4 mn including GST. The contract requires CMPDI to arrange statutory forest clearances, provide the exploration scheme, select borehole locations and carry out checks and verification of completed work. The time period for execution is 560 days.

GSIPL awarded SWPE a reverse circulation drilling work order for a gold mining project in Andhra Pradesh valued at Rs 11.3 mn including GST. The scope specifies borewell depths between 10 and 50 metres and requires SWPE to maintain equipment in working condition. GSIPL is a new client for SWPE, and the company added the order to its book.

GSIPL also awarded a diamond core mineral drilling contract to SWRPL for a gold project in Andhra Pradesh valued at Rs 63.6 mn including GST, with an approximate execution period of 210 days. The contract sets a maximum hole depth of 1000 metres, requires core recovery of at least 95 per cent and places safety, health and community relations responsibilities with SWRPL, which must also transport water for drilling at its cost. The company expects most revenue from these short-duration projects to be realised within the current financial year and said the work carries strategic significance for domestic gold exploration and the government's objective of reducing imports.