International Directional Services and Veracio Announce Strategic Partnership to Advance Drilling and Downhole Technologies in North America

WATSONVILLE, Calif. and SALT LAKE CITY, Dec. 06, 2023 (GLOBE NEWSWIRE) — International Directional Services (IDS), a Granite Company (NYSE:GVA) and Veracio, a leading mining technology company, today announce a partnership to offer Veracio’s complete suite of driller-operated tooling to IDS’ clients.

Veracio is making significant steps toward leveraging advanced geological technologies to enhance the mining lifecycle. While IDS and Veracio have an existing relationship, the announcement of this partnership acknowledges the vision both companies share for transforming how the drilling workflow can be enhanced with better data. By combining IDS’s expertise in directional drilling and Veracio’s geological data collection, the partnership will empower IDS and Granite clients to reduce unnecessary drilling costs, mitigate operational errors, minimize waste, and foster sustainable mining practices.

“Our collaboration further strengthens Veracio’s position in the US market and reinforces our commitment to advancing the mining industry by offering cutting-edge solutions,” states Veracio’s Chief Executive Officer, JT Clark. “Together with IDS, we are committed to redefining industry standards, empowering precision and integrity with every survey, and delivering unparalleled solutions for the mining industry.”

“We are excited to embark on this strategic partnership with Veracio. By combining our data collection expertise with Veracio’s cutting-edge instrument technology, we aim to redefine how drill hole data is utilized in our industry,” said Jason Smith, IDS General Manager. “This collaboration represents a significant step forward for IDS and our commitment to delivering excellence to our clients.”

Key Objectives of the Partnership:

  • Enhanced Drill Hole Data Analysis: Deploy cutting-edge technology to enhance the accuracy and quality of drill hole data analysis, providing valuable insights for mining projects.
  • Increased Productivity: Leveraging Veracio’s growing fleet of technologies, including TruGyro, and TruSub technology ensures that drilling is precise and efficient leading to better resource definition, safety and lower risks of operational errors, at lower cost.
  • Client Support and Satisfaction: The partnership aims to elevate the level of support and satisfaction for IDS’s clients by delivering data-driven insights and innovative solutions.

The announcement is headlined by the most compact and integrated continuous north-seeking gyro tool in drilling, Veracio’s TruGyro, a north-seeking gyro tool built to deliver precision data at depth in some of the toughest of environments. IDS also currently serves as the distributor for Veracio’s TruShot, a precise magnetic survey tool specially designed for driller deployment. Known for its durability, precision, and user-friendly features, TruShot enables drillers to confidently capture high-quality 3D hole path data. In addition to TruShot, IDS also distributes core orientation tooling on behalf of Veracio. As Veracio introduces new products to the market, IDS aims to expand its customer offerings to provide a comprehensive range of cutting-edge solutions.

Photos accompanying this announcement are available at – https://drive.google.com/drive/folders/1AZcrwz8G6Ii4AveB6WDOrHozAgvx7-QY?usp=drive_link

About Veracio
Veracio offers mining clients a range of solutions that improve, automate, and digitally transform their orebody sciences in exploration, resource definition and production. Championing a modern approach through a diverse product portfolio Veracio fuses science and technology together with digital accessibility by using advanced scanning, sensing with strong data governance and the deployment of AI to accelerate real-time decision making and significantly improve efficiency, profitability, and sustainability across the value chain. For more information about Veracio, please visit www.veracio.com.

About Granite
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE: GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.

Media Contacts

Veracio
Kamran Shaikh
PRA Communications
kshaikh@pracommunications.com
Cell: +1-778-846-5406
IDS/Granite
Erin Kuhlman – 831-768-4111
Investors
Wenjun Xu – 831-761-7861

GlobeNewswire Distribution ID 8990350

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