ASX Announcement 8 May 2012 DRAIG COMPLETES TEEG DRILL PROGRAM WITH THICKEST COAL SEAM INTERCEPTS TO DATE Highlights • Coal seam intersected with apparent seam thickness of 86.28m (BT_37) • Seam was continually intersected over range of 27m to 146m depth • Twin cored angle hole with 30m selected intercepts at < 82m (BT_37C) • Coal quality testing underway • Phase 1 drill program complete with over 6000m, Phase 2 planning underway • Mongolian Office established - General Manager appointed Draig Resources Limited (ASX: DRG) (“Draig” or “the Company”) is pleased to announce it has intercepted a coal seam with apparent coal thickness of 86.28m in drill hole BT_37 during exploration on its Teeg licence in Mongolia’s Ovorhangay province. The seam, which was intersected over a depth of 27m to 146m, was the thickest coal seam logged by Draig during its Phase 1 exploration program on Teeg. The second thickest intercept recorded during the Phase 1 drill program on Teeg was on BT_36, with a cumulative thickness of 66.75m. In addition, a twin angled cored hole intercepted 30m thick coal seam intercepts at < 82m. Draig’s extended Phase 1 drill program has now been completed. A total of just over 6000m was drilled, with multiple shallow coal seam intersections logged on a total of 16 holes at less than 175m depth over a 3.5km strike length. Three holes have been completed, adjacent to drill holes BT_37, BT_24 and BT_38 which were drilled to core representative coal intervals for quality and petrographic testing. Drill hole BT_37C selectively cored coal seams intercepts of 30m of coal at < 82m and BT_24C selectively intercepted 13m at <87m.The logging results on BT_7, BT_38 and BT_38C are still to be finalised ASX Announcement 8 May 2012 DRAIG COMPLETES TEEG DRILL PROGRAM WITH THICKEST COAL SEAM INTERCEPTS TO DATE Highlights • Coal seam intersected with apparent seam thickness of 86.28m (BT_37) • Seam was continually intersected over range of 27m to 146m depth • Twin cored angle hole with 30m selected intercepts at < 82m (BT_37C) • Coal quality testing underway • Phase 1 drill program complete with over 6000m, Phase 2 planning underway • Mongolian Office established - General Manager appointed Draig Resources Limited (ASX: DRG) (“Draig” or “the Company”) is pleased to announce it has intercepted a coal seam with apparent coal thickness of 86.28m in drill hole BT_37 during exploration on its Teeg licence in Mongolia’s Ovorhangay province. The seam, which was intersected over a depth of 27m to 146m, was the thickest coal seam logged by Draig during its Phase 1 exploration program on Teeg. The second thickest intercept recorded during the Phase 1 drill program on Teeg was on BT_36, with a cumulative thickness of 66.75m. In addition, a twin angled cored hole intercepted 30m thick coal seam intercepts at < 82m. Draig’s extended Phase 1 drill program has now been completed. A total of just over 6000m was drilled, with multiple shallow coal seam intersections logged on a total of 16 holes at less than 175m depth over a 3.5km strike length. Three holes have been completed, adjacent to drill holes BT_37, BT_24 and BT_38 which were drilled to core representative coal intervals for quality and petrographic testing. Drill hole BT_37C selectively cored coal seams intercepts of 30m of coal at < 82m and BT_24C selectively intercepted 13m at <87m.The logging results on BT_7, BT_38 and BT_38C are still to be finalised
DRG Price at posting:
32.0¢ Sentiment: LT Buy Disclosure: Held
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