DRAIG REPORTS MAIDEN JORC COAL RESOURCE FOR TEEG LICENCE, MONGOLIA
July 30, Draig Resources Limited (ASX:DRG) --
Highlights
· Maiden JORC reportable coal resource for Teeg licence of 75 million tonnes
· Teeg exploration target of up to a further 25 to 100 million tonnes1
· Evidence for a significant deposit of high grade coal with metallurgical potential
· Resource defined following initial exploration drilling program
· Target drill areas identified to further explore licence area
· New exploration program to focus on Draig's South Gobi licences
Coal explorer Draig Resources Limited (ASX: DRG) ("Draig" or "the Company") is pleased to announce a maiden JORC compliant inferred coal resource of 75 million tonnes for its Teeg Licence ("Teeg"), plus an additional exploration target of between 25‐100 million tonnes1.
The JORC report added there is 'compelling evidence' for a significant deposit of high grade coal with metallurgical potential in a coal seam with a true average coal thickness of 24.12m.
The 22.2km2 Teeg licence is situated in the Bayanteeg district of the Ovorhangay province in central‐southern Mongolia and is one of eight licences owned by Draig across the Ovorhangay and South Gobi regions.
The JORC resource estimate was determined using the results of geological mapping, trenching, induced polarization and resistivity surveys, 6784m of drilling and coal sample analyses.
The Company believes the results confirm the highly prospective nature of Teeg and the wider Bayanteeg area.The resource estimation on the Teeg licence was compiled by PT Danmar Explorindo, a geological consulting company with extensive experience in coal geology.
Highlights
· Maiden JORC reportable coal resource for Teeg licence of 75 million tonnes
· Teeg exploration target of up to a further 25 to 100 million tonnes1
· Evidence for a significant deposit of high grade coal with metallurgical potential
· Resource defined following initial exploration drilling program
· Target drill areas identified to further explore licence area
· New exploration program to focus on Draig's South Gobi licences
Coal explorer Draig Resources Limited (ASX: DRG) ("Draig" or "the Company") is pleased to announce a maiden JORC compliant inferred coal resource of 75 million tonnes for its Teeg Licence ("Teeg"), plus an additional exploration target of between 25‐100 million tonnes1.
The JORC report added there is 'compelling evidence' for a significant deposit of high grade coal with metallurgical potential in a coal seam with a true average coal thickness of 24.12m.
The 22.2km2 Teeg licence is situated in the Bayanteeg district of the Ovorhangay province in central‐southern Mongolia and is one of eight licences owned by Draig across the Ovorhangay and South Gobi regions.
The JORC resource estimate was determined using the results of geological mapping, trenching, induced polarization and resistivity surveys, 6784m of drilling and coal sample analyses.
The Company believes the results confirm the highly prospective nature of Teeg and the wider Bayanteeg area.The resource estimation on the Teeg licence was compiled by PT Danmar Explorindo, a geological consulting company with extensive experience in coal geology.
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