assays received – confirm wide intervals

Assays received – confirm
wide intervals

Short massive sulphide

Main conductor has 5.65m @ 0.73% nickel, 0.40 % copper & 0.06% cobalt
within a broad mineralised interval of 63.5m @ 0.30% nickel
- Equivalent of 63.5m @ 1.0% copper

95m cumulative nickel mineralisation

Four holes to date in

All Granmuren intersections within 200m of surface & amenable to open pit

Analogous to intersections at First Quantum Minerals’ recently commissioned
Kevitsa Project in Finland

Expanded exploration
Drake Resources (DRK) is an Australian gold and base metals explorer with advanced and highly
prospective projects in resource-rich West Africa and Scandinavia. In the underexplored West African
provinces of Mauritania, Senegal and Gu
mineralised Tasiast greenstone belt. Projects in Scandinavia focus on nickel and copper. They include
nickel resources at Espedalen in Norway, a new nickel
significant remaining mineralisation in the Joma copper
profitable mining company delivering strong shareholder value by taking robust projects through to mining.
The company is headquartered in Melbo
14 141414
66 Kings Park Road, West Perth WA 6005 Tel +61 8 6141 3585 Fax +61 8 6141 3599
www.drakeresources.com.au
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confirm expanded copper-nickel mineralisation over
Short massive sulphide intervals up to 1.88% nickel
Main conductor has 5.65m @ 0.73% nickel, 0.40 % copper & 0.06% cobalt
within a broad mineralised interval of 63.5m @ 0.30% nickel
63.5m @ 1.0% copper
95m cumulative nickel mineralisation
in eastern anomaly with broad zones of mineralisation
All Granmuren intersections within 200m of surface & amenable to open pit
Analogous to intersections at First Quantum Minerals’ recently commissioned
Kevitsa Project in Finland
Expanded exploration program underway.
is an Australian gold and base metals explorer with advanced and highly
rich West Africa and Scandinavia. In the underexplored West African
provinces of Mauritania, Senegal and Guinea, Drake’s focus is gold, including projects on the highly
mineralised Tasiast greenstone belt. Projects in Scandinavia focus on nickel and copper. They include
nickel resources at Espedalen in Norway, a new nickel-copper discovery at Granmuren in Swede
significant remaining mineralisation in the Joma copper-zinc mine. Drake’s aim is to be a successful and
profitable mining company delivering strong shareholder value by taking robust projects through to mining.
The company is headquartered in Melbourne and listed on the ASX.


66 Kings Park Road, West Perth WA 6005 Tel +61 8 6141 3585 Fax +61 8 6141 3599


nickel mineralisation over
Main conductor has 5.65m @ 0.73% nickel, 0.40 % copper & 0.06% cobalt
within a broad mineralised interval of 63.5m @ 0.30% nickel
eastern anomaly with broad zones of mineralisation
All Granmuren intersections within 200m of surface & amenable to open pit
Analogous to intersections at First Quantum Minerals’ recently commissioned
is an Australian gold and base metals explorer with advanced and highly
rich West Africa and Scandinavia. In the underexplored West African
inea, Drake’s focus is gold, including projects on the highly
mineralised Tasiast greenstone belt. Projects in Scandinavia focus on nickel and copper. They include
copper discovery at Granmuren in Sweden, and
zinc mine. Drake’s aim is to be a successful and
profitable mining company delivering strong shareholder value by taking robust projects through to mining. 2 | P a g e
Drake Resources (ASX: DRK, Drake) has received excellent assay results from hole TS006 which
targeted copper-nickel sulphide mineralisation on its 100% owned Granmuren Prospect in
Sweden.
Key results include:

Short massive sulphide intervals up to 1.88% nickel

5.65m @ 0.73% nickel, 0.40 % copper and 0.06% cobalt within a broad mineralised
interval of 63.5m @ 0.30% nickel
- 63.5m @ 1.0% copper equivalent

95 cumulative metres of nickel mineralisation
Full intersections are summarised in Table 1 below.
Intersections are interpreted as being near actual thickness.
The analyses have also confirmed Drake’s interpretation of visual copper nickel mineralisation.
The mineralisation at Granmuren is hosted in a peridotite, which is an intrusive, ultramafic rock.
TABLE 1: Analytical Results from Hole 12DDTS006
Intersections are length weighted and calculated using a 0.1% Ni cut-off.
All samples were prepared by ALS Chemex Pitea and analysed by ALS-Chemex in Vancouver. Base metals were determined by ALS
method ME-ICP61, a four acid digest analysed by ICP-AES. Ore grade samples were determined by ALS method Cu-OG46 or NiOG46 which are an aqua-regia digestion followed by ICP-AES.
The very strong electrical conductor targeted by drill hole TS006 was identified following down
hole and ground electromagnetics (EM).
Drake’s Managing Director Dr Bob Beeson said the excellent results from hole TS006 confirmed
that the mineralisation at Granmuren is more extensive than originally interpreted.
“Drake has intersected thick nickel-copper mineralisation in all four holes in the eastern section
of the target area. In Hole TS006 there are 95 cumulative metres of mineralisation, averaging
approximately one per cent equivalent copper.
“An extended drilling campaign is already underway. More detailed ground geophysics is
planned to define the extent of the mineralisation currently being drilled and to identify new
targets.
Hole
East
(RT90)
North
(RT90)
Dip Azimuth
From
(m)
To (m)
Width
(m)
Cu (%) Ni (%) Co (%)
Co
(ppm)
12DDTS006 1537160 6641615 -60 360 49.0 63.5 14.5 0.14 0.13 0.014 136
78.0 95.3 17.3 0.42 0.37 0.037 371
89.9 92.7 2.9 0.47 0.67 0.060 604
134.0 174.0 40.0 0.26 0.30 0.029 287
179.0 202.5 23.5 0.27 0.33 0.029 292
193.4 199.0 5.7 0.40 0.73 0.059 585
And
Which Includes
And
And
Which Includes3 | P a g e
“These results are further evidence of the under-explored nature of Sweden. Drake has almost
400 square kilometres of land with nickel potential that has never seen systematic exploration.
Another big plus is that Sweden has the advantages of excellent infrastructure, trained
workforce, supportive legislation and low taxation rates,” stated Bob.
A metallurgical test program has now commenced and is designed to test the amenability of the
mineralisation to simple nickel sulphide flotation.
Mineralisation at Granmuren is analogous to First Quantum Minerals’ Kevitsa deposit in northern
Finland (240 million tonne grading; 0.28 per cent nickel sulphide; 0.41 per cent copper; using a
nickel cut-off grade of 0.1 per cent - Source http://www.first-quantum.com).
Next results & Current Activity

Analytical results from TS004a, targeting an off-hole conductor beneath hole TSOO4 are
expected in late January.

Drilling is well underway on the third hole (TS007) of this campaign testing deeper targets
beneath Hole TS006. Results are anticipated in early February.

Detailed ground geophysics to commence late January which is planned to cover the
entire Granmuren Prospect

Metallurgical samples have been selected for preliminary testing at ALS Ammtec, Perth.
-ends-