Finance diamond core drilling rigs for mineral exploration, resource estimation, and geotechnical investigation. New and used rigs. Quotes within 24 hours.
Core recovery is the geologist's primary input. A diamond core drill that returns 95 percent recovery from a mineralized zone gives the resource team the continuous sample they need to model the deposit with confidence. A machine that is returning 60 percent because the core barrel is worn, the fluid management is inconsistent, or the operator is pushing penetration rate at the cost of recovery undermines the entire exploration investment. The rig behind the core matters, and the capital behind the rig has to support getting the right machine into the field.
We finance diamond core drilling rigs for mineral exploration contractors, junior mining companies running in-house drill programs, geotechnical investigation firms, and environmental drilling operations. The machines range from compact HQ-capacity wireline rigs mounted on compact transporters for access-limited terrain to large multipurpose units capable of drilling to 2,000 meters or beyond with NQ or BQ tooling in hard rock formations.
Deals start at $50,000. Most core drilling rig transactions fall between $120,000 and $700,000 for single units, including tooling packages and ancillary equipment. Application-only processing is available up to approximately $400,000, with funding in about one to two weeks from approval.
Core Drill Rig Specifications That Matter
Core drill rigs are characterized by their rotary head torque and pull-back capacity, which determine the maximum depth and hole diameter the rig can drill, and by whether they use wireline or conventional core barrel retrieval. Wireline retrieval, where the inner core barrel is pulled to surface on a wire without tripping the drill string, dramatically reduces cycle time at depth because it eliminates the time lost pulling and running rods. All serious production core rigs use wireline systems; conventional retrieval is limited to very shallow or low-budget programs.
Rod sizes define the core diameter: HQ returns 63.5 mm core; NQ returns 47.6 mm core; PQ returns 85 mm core; BQ is narrower at 36.5 mm. The choice of rod size depends on the amount of sample required for assay and metallurgical testing, the depth of the program, and the cost per meter the exploration program can support. Larger diameter core is more expensive per meter to drill but provides a larger sample for metallurgical characterization, which matters when the project is moving toward prefeasibility or feasibility assessment.
Manufacturers in this space include Boart Longyear, Sandvik, Major Drilling, Epiroc, and a number of regional manufacturers building rigs for specific terrain types. The Boart Longyear LF90 and the Sandvik DE130 represent widely used production-class wireline rigs with strong parts and support networks in North America. We finance these and comparable machines from other reputable manufacturers.
Who Uses Core Drilling Rigs and Who Finances Them
Core drilling contractors make up the majority of the buyer base. A contractor deploying to a new district to fulfill an exploration contract needs the rig delivered and mobilized ahead of the drill program start date. The contract revenue is the asset backing the financing, and in well-structured contractor deals we can move from application to funding faster than most equipment transactions because the revenue stream is clearly defined.
Junior mining companies that have decided to own their drill rather than contract out all drilling acquire core rigs for two reasons: cost control on programs that will run for multiple seasons, and the ability to generate contract revenue between their own programs. A junior with a working core rig on site has more operational flexibility than one waiting on contractor availability. When exploration season opens inNevada, Arizona, orAlaskaand every good drill crew is booked, owning the rig is the advantage.
Geotechnical contractors who run core borings for foundation investigation, dam site characterization, or underground infrastructure projects are a different segment. Their equipment requirements overlap withmineral explorationrigs, and their revenue comes from engineering firms and project owners rather than mining companies. We finance geotechnical core drilling rigs on the same basis as mineral exploration units.
New vs. Used Core Drilling Rigs
New core drilling rigs from Boart Longyear orSandvikcome with full factory warranty, current emissions compliance, and the latest wireline retrieval system designs. New machines from major manufacturers typically ship within a few months and come with dealer service support in major mining jurisdictions. For contractors who plan to work a machine continuously for five or more years and want warranty coverage during the early hours, new makes sense.
The used core drilling rig market is active and deep. Rigs with 5,000 to 10,000 hours of documented service history are widely available and represent strong value, particularly machines that have been maintained under PMQ programs or that come with dealer-certified inspection reports. Private party sales between contractors are common, and we finance these through ourprivate party purchase programwithout requiring a dealer to be in the middle of the transaction.
Older rigs from the 1990s and early 2000s, particularly from manufacturers who were later acquired or whose designs have been superseded, may present parts supply challenges that affect both availability and lender appetite. We evaluate these case by case. A well-documented older rig with a clear parts supply path and a strong mechanical history can still be financed; the terms may differ from a current-generation machine.
Financing Structure for Core Rigs
Core drilling rig loans typically run on 36 to 60 month terms. Many exploration contractors prefer shorter terms that match their typical contract cycle, maintaining the ability to upgrade equipment as technology evolves without carrying a long-term obligation on a machine that may be technologically dated in five years.
For tax planning purposes, core drilling rigs often qualify for favorable treatment under Section 179 or bonus depreciation provisions. Aligning the financing structure with how the machine is depreciated on the tax return can affect the net cost of financing significantly. Ourbonus depreciation financingprogram is structured for buyers whose accountants plan to take aggressive first-year deductions on new equipment.
Buyers who are purchasing their first rig and have limited working capital for a down payment can explore ourno-money-down financingoptions. Qualification depends on credit strength and the quality of the contract or program backing the machine, but the option exists and is worth discussing when cash preservation is a priority.