What Icor Drilling Services Inc. does

ICor Drilling Services Inc. is an independent, Canadian-owned drilling contractor founded in 2021 and headquartered in Penobsquis, New Brunswick. The company provides contract diamond core drilling services to mining and mineral exploration companies, executing exploration drilling programs on third-party exploration properties across Canada. Its customer base consists of mining and mineral exploration firms undertaking greenfield and brownfield exploration campaigns, with publicly visible engagements including a Phase 1 program for A.I.S. Resources Limited on New Brunswick properties (announced June 2026). The operating model is project-based: clients request quotations, ICor mobilizes rigs and crews to site, and revenue is generated per metre of drilling completed.

The technical foundation is built around Marcotte HTM-2500 drill rigs capable of reaching depths exceeding 2,000 metres in both surface and underground configurations, operated on a 24/7 basis. The service portfolio centres on diamond core drilling — including deep directional drilling using downhole motors and wedges — and is differentiated by the proprietary Wireless Overshot core-recovery system invented by CEO Vic Fournier, which the company positions as faster and more efficient than traditional wireline methods in underground settings. Ancillary offerings include dewatering, grouting, and custom in-house drill design and manufacturing tied to Ulric Fournier's patented designs. Pricing is quote-based per drilling program and is not publicly disclosed.

The go-to-market is sales-led and relationship-driven: ICor is engaged through direct outreach, referrals, and quotation requests via its website and phone channels, with no public marketing automation or channel partnerships. The company is privately held, family-owned by co-founders Vic Fournier (CEO) and Ulric Fournier (President), bootstrapped with no institutional investors, and operates as a single Canadian corporation with nationwide geographic reach. No revenue, headcount, or financial figures are publicly disclosed.

Name

Icor Drilling Services Inc.

Legal name

ICor Drilling Services Inc.

Website

https://icordrilling.ca

Company type

Private

Founded year

2021

Operating status

Operating

Short description

ICor Drilling Services Inc. is a Canadian-owned diamond core drilling contractor founded in 2021 and based in Penobsquis, New Brunswick, serving mining and mineral exploration companies across Canada with surface, underground, and deep directional drilling services using Marcotte HTM-2500 rigs.

Ownership category

akta.pro rank

Product category

Mineral Exploration Drilling Services

NAICS

Support Activities for Metal Mining (213114), Support Activities for Mining (2131), Drilling Oil and Gas Wells (213111)

SIC

Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532), Drilling Oil & Gas Wells (1381)

akta.pro primary industry

Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB)

akta.pro secondary industries

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA), Mine Operations Contracting (Open-Pit & Underground Development, Production, Load/Haul) (IMAKAKAD)

Keywords

• Diamond drilling services
• Mineral exploration drilling
• Contract drilling services
• Core drilling solutions
• Exploration drilling contractor

Headquarters

HQ city

Penobsquis

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Diamond Drilling Services: ICor Drilling Services generates revenue by providing diamond drilling services to mining and exploration companies. Services are project-based, charging for drilling programs measured by metres of drilling completed. The company operates 24/7 to deliver drilling programs on exploration properties across Canada.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

ICor Drilling Services is an independent Canadian-owned contract drilling company that provides diamond core drilling services for mineral exploration. The company operates Marcotte HTM-2500 drill rigs capable of drilling in excess of 2000 metres, delivering both surface and underground drilling programs 24/7 across Canada. Service offerings include deep directional drilling using downhole motors and wedges, plus ancillary dewatering, grouting, and custom drill design services.

Product overview

Icor Drilling Services Inc. is an independent, Canadian-owned drilling services provider offering a comprehensive suite of mineral exploration drilling solutions. The company's core offering centers on professional diamond drilling services utilizing Marcotte HTM-2500 drill rigs capable of drilling to depths exceeding 2000 meters, supporting both surface and underground operations. The portfolio includes specialized deep directional drilling with downhole motors and wedges, alongside ancillary services such as dewatering, grouting, and proprietary custom drill design and manufacturing. Founded in 2021 by industry veterans Vic and Ulric Fournier, the company positions its expertise as delivering world-class standards of safety, professionalism, quality, and efficiency to the Canadian mineral exploration drilling market.

Differentiator

Problem solved

Functional benefit

Products and services

• Diamond Drilling Services Professional diamond coring drilling services for mineral exploration, delivering high-quality, undisturbed core samples from both surface and underground operations across Canada. Services cover standard drilling programs as well as deep directional holes requiring downhole motors and wedges. Targeted at mining and mineral exploration companies running exploration drilling programs.
• Deep Directional Drilling Specialized deep directional drilling services utilizing downhole motors and wedges for complex exploration targets requiring non-vertical drill paths. Suited to mineral exploration programs with deep or complex geometry targets.
• Marcotte HTM-2500 Drill Rig Operations Drilling operations utilizing Marcotte HTM-2500 drill rigs capable of achieving depths in excess of 2000 meters, supporting both surface and underground exploration drilling programs across Canada. Targeted at mining and exploration clients requiring deep drilling capability.
• Dewatering Services Dewatering services for drill sites, addressing water management challenges during exploration drilling operations. Provided to mining and exploration clients alongside drilling programs.
• Grouting Services Grouting services for drill hole stabilization and groundwater control during and after exploration drilling. Delivered to mining and exploration clients as part of integrated drill programs.
• Custom Drill Design and Manufacturing Proprietary custom drill design and manufacturing capabilities, including patented drill designs developed in-house by the founders. Offered to clients requiring specialized drilling tools and equipment configurations.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• A.I.S. Resources LimitedcoreStrategic or Co-development Partner · 23 June 2026A.I.S. Resources Limited has formally engaged ICor Drilling Services for a Phase 1 diamond drilling program on its New Brunswick exploration properties, expected to comprise approximately 2,000 metres of drilling. The program is designed to test priority exploration targets identified through geological compilation, airborne geophysical surveys, and field evaluation work, with drilling anticipated to commence between July 15 and August 1, 2026, pending permits and contractor mobilization.

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Major Drilling Group International: Largest Canadian-based mineral exploration drilling contractor offering surface and underground diamond core drilling globally. Directly comparable to ICor in service offering and customer base (mining exploration companies).
• Geodrill Limited: Mineral exploration drilling contractor with Canadian operations and West African footprint, specializing in reverse circulation and diamond core drilling. Comparable to ICor in service mix and customer type.
• Foraco International: International mineral exploration and production drilling contractor operating in Canada and globally. Direct peer offering surface and underground diamond drilling to mining clients.
• Boart Longyear: Global drilling services and equipment provider with strong mineral exploration drilling presence in North America. Direct peer in contract diamond core drilling for mining explorers.
• Orbit Garant Drilling Services: Canadian-based contract mineral drilling services company providing surface and underground diamond core drilling. Direct peer targeting the same mining exploration customer base across Canada.
• Cabo Drilling Corp: Canadian mineral exploration drilling contractor historically active in North American diamond drilling. Direct peer offering comparable contract core drilling services to mining explorers.

Broad incumbents

• Epiroc AB: Global mining and infrastructure equipment manufacturer including drill rigs and consumables used in mineral exploration. Overlaps with ICor as a major industry incumbent in mining drilling technology.
• Sandvik AB: Global engineering group with a major mining and rock solutions division supplying drill rigs, tools, and consumables. Adjacent incumbent whose equipment and contract services overlap with ICor's operating environment.

Others

• Activation Laboratories Ltd. Canadian geochemical and mineral analysis laboratory serving exploration and mining companies. Adjacent ecosystem participant that consumes core samples produced by drillers like ICor.

Regional players

• Canadian Dewatering LP: Canadian specialist dewatering and water-management services provider serving mining and exploration sites. Comparable as a regional ancillary services peer to ICor's dewatering add-on offering.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Icor Drilling Services Inc.