A water/slurry containment device for core drilling can contain and allow water/slurry to be extracted while the coring is occurring rather than allowing a puddle to form with more extensive cleanup required afterward. The device contains the water/slurry mix so that none escapes the confines of the device, so that water can be used in the core drilling. Water is essential to the life of the diamond coated bit and it keeps dust and noise to a minimum. The device includes a base plate with a collector ring that can rest on a surface to be core drilled. A notch can be cut in the collector ring and/or base plate to allow water and slurry to be removed from the device while core drilling.