What Evolve Exploration does

Evolve Exploration Inc. is a privately held drilling contractor incorporated in Nevada that provides surface and underground drilling services to mining and exploration companies across the Americas. The company delivers core drilling, ultra-deep core drilling, directional drilling, reverse circulation drilling, geotechnical drilling, environmental drilling, and underground exploration services, with a documented track record of over 5,000,000 cumulative meters drilled, including one of the deepest holes ever drilled in Mexico at 2,332 meters.

The company's technical platform centers on two proprietary assets: the EVX-1000 modular universal drill rig and the EVX Connect real-time monitoring software. The EVX-1000 is a compact (4.5x3m), heli-portable rig capable of switching between core, underground, and reverse circulation modes within 12 hours and reaching targets deeper than 3,300 meters. EVX Connect provides 24/7 operational monitoring, real-time XRF and RGB imagery integration, multi-language support, ERP integrations (including TerraCore/IntelliCore for hyperspectral data), and role-specific dashboards for executives, geologists, HSE, and finance teams.

Evolve monetizes through project-based drilling contracts with quote-based pricing and a structural performance guarantee that ties rate reductions to missed production, deviation, or core-recovery targets. The company serves enterprise mining clients including Agnico Eagle, Vale, Newmont, Pan American Silver, Grupo México, Peñoles, Hecla, and several mid-tier silver and gold explorers. The company is led by founders Marc Kieler and Armando Lucero, who bring over 100 years of combined drilling expertise and are repeatedly cited by senior mining executives as the basis for engagement.

Name

Evolve Exploration

Legal name

Evolve Exploration Inc.

Website

https://evolvexploration.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

51–100 employees

Short description

Evolve Exploration is a private Nevada-based drilling contractor serving mining and exploration companies across the Americas with its proprietary EVX-1000 modular drill rig and EVX Connect real-time monitoring software, offering surface and underground drilling under performance-guaranteed contracts.

Ownership category

akta.pro rank

Product category

Mining Drilling Services

NAICS

Support Activities for Mining (213), Support Activities for Mining (2131), Support Activities for Metal Mining (213114)

akta.pro primary industry

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

akta.pro secondary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Mineral exploration drilling
• Mining drilling contractor
• Core drilling services
• Underground drilling services
• Directional core drilling

Headquarters

HQ city

Las Vegas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Contract Drilling Services: Surface and underground drilling services provided to mining and exploration companies on a contract/project basis. Services include core drilling, ultra deep core drilling, directional core drilling, wedge core drilling, geotechnical drilling, environmental drilling, reverse circulation drilling, and underground exploration drilling. Revenue generated through project-based contracts with performance guarantees.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Evolve Exploration provides contract surface and underground mineral exploration drilling services to mining companies throughout the Americas. Services include core, ultra-deep core, directional, wedge, geotechnical, environmental, reverse circulation, and pit-wall dewatering drilling, delivered using the proprietary EVX-1000 universal drill rig and supported by the proprietary EVX Connect real-time monitoring software platform under a performance guarantee.

Product overview

Evolve Exploration offers a unified portfolio consisting of the EVX-1000 proprietary drill rig and the EVX Connect software platform, supported by comprehensive surface and underground drilling services. The EVX-1000 is a modular universal drill rig capable of depths exceeding 3,300 meters, while EVX Connect provides real-time monitoring, analytics, and AI-powered mineral classification. Together they enable end-to-end drilling operations with integrated data analysis capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• EVX Connect: A proprietary platform that elevates efficiency, accuracy, control, and safety of exploration projects through 24/7 real-time monitoring, actionable analytics, transparent financial oversight, and efficient resource management.
• EVX-1000

Products and services

• EVX Connect Proprietary software platform that elevates efficiency, accuracy, control, and safety of exploration projects through 24/7 real-time monitoring, actionable analytics, transparent financial oversight, ERP integrations, multi-language support, and AI-driven mineral classification and anomaly detection. Sold to mining and exploration company clients as part of contract drilling engagements.
• EVX-1000 Drill Rig Proprietary modular universal drill rig co-developed by Evolve for deep core, heli-portable, underground, and reverse circulation drilling. Capable of depths greater than 3,300 meters (NQ), compact footprint of 4.5x3m for fly jobs to remote locations, switchable between core/underground/RC modes within 12 hours, with advanced HSE systems and semi-autonomous capabilities.
• Surface Drilling Services Comprehensive surface drilling services for mining and exploration companies, including core drilling, ultra deep core drilling, directional core drilling, wedge core drilling, geotechnical drilling, environmental drilling, pit-wall dewatering services, reverse circulation drilling, and pre-collar services. Delivered on a contract basis with performance guarantees.
• Underground Drilling Services Comprehensive underground drilling services for mining and exploration companies, including exploration drilling, deep hole drilling, geotechnical drilling, directional drilling, wedge drilling, drainage and dewatering, grouting services, rock boring site preparation, and service hole drilling. Delivered on a contract basis with performance guarantees.

Named customers22 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability4 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• TerraCorecoreTechnology or IntegrationStrategic technology partnership for hyperspectral data processing. TerraCore's IntelliCore software integrates with EVX Connect platform to standardize hyperspectral data ingestion and visualization, enabling enhanced geological analysis with immediate mineralogical and lithological insights.
• IntelliCorecoreTechnology or IntegrationSoftware partnership with TerraCore's IntelliCore for hyperspectral data processing. Enables automated mineral classification and anomaly detection using combined spectral data including XRF, RGB imagery, and hyperspectral datasets within the EVX Connect dashboard.

Scale indicators11 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Major Drilling Group International: One of the world's largest mineral exploration drilling contractors, offering surface and underground core, RC and directional drilling globally. Directly comparable to Evolve as a specialized exploration drilling services provider serving senior miners.
• Boart Longyear: Global drilling services and products company with deep mineral exploration drilling capabilities and a significant equipment manufacturing business. Directly comparable as a mining-focused drilling contractor offering both services and proprietary tooling.
• Foraco International: Global drilling services provider with strong presence in mineral exploration across the Americas, Africa and Asia. Directly comparable to Evolve as a contract drilling company serving mining and exploration clients.
• Perenti (formerly Ausdrill): Diversified mining services group with drilling services among its core offerings, operating across multiple continents. Closely comparable as a multi-regional mining drilling contractor pursuing technology-enabled service models.
• Geodrill: Mid-tier mineral exploration drilling contractor focused on West Africa and select jurisdictions. Comparable to Evolve as a contract exploration driller with similar technical capabilities.
• Layne Christensen (now part of InSAR / private operators): Historically a major provider of drilling services and water/mineral exploration support across the Americas. Comparable as a regional drilling contractor offering similar services to mining clients.
• Energold Drilling: Mineral exploration and geotechnical drilling services provider with operations in the Americas, Europe and Africa. Comparable to Evolve as a contract drilling services firm with portable and modular rigs.

Broad incumbents

• Epiroc: Major mining and infrastructure equipment manufacturer (former Atlas Copco mining business) that also offers drilling services. Comparable to Evolve as a broader mining ecosystem participant with overlapping drilling technology.
• Sandvik Mining and Rock Solutions: Global mining equipment and tooling supplier offering drill rigs and digital solutions. Adjacent to Evolve's EVX-1000/EVX Connect offering as a broad incumbent in mining drilling equipment and automation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

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 Evolve Exploration