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DRAKE RESOURCES LIMITED - ASX: DRK
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Description
Drake Resources (ASX: DRK, "Drake") is a base metals and gold/silver explorer with advanced projects in Sweden and Australia.
In the four years since listing on the ASX, Drake has established a robust portfolio of projects. Drake's competitive advantages include a premier position in the world-class Falun copper-zinc belt in Sweden, an experienced technical team with a successful track record, and a pipeline of projects and opportunities.
Drake's objective is to become a successful and profitable exploration and mining company. The Company aims to achieve this goal by pursuing exploration and mining opportunities and exploring high quality projects in a technical, cost-effective manner.
Currently, Drake is focused on advancing its Scandinavian projects. Drake considers that copper, zinc and gold ores remain within the historic Falun Mine area and have put in place a program to assess the economic potential of remaining ore and new ore bodies. Recent rock chip samples at Digertakt indicated exceptional zinc grades (up to 27%) and drill testing is underway to locate additional areas of interest.
Drake is in joint venture with Royal Falcon Mining LLC at its Falun and Bersbo Projects, Royal Falcon Mining is a jointly owned company between Golden Rim Resources Ltd and the PAL Group, a subsidiary of Royal Group, based in the United Arab Emirates. Royal Falcon has to spend US$3 million to earn 51% of the projects; the projects remain 100% Drake prior to Royal Falcon earning this interest.
Mine For
gold, silver, copper, zinc
Location of operation(s)
Sweden, New South Wales, Wesern Australia
Address
Unit 6 , 34 York Street
North Perth, WA, AUSTRALIA
Phone
(08) 9228 0703
Website
http://www.drakeresources.com.au
Last Updated
5/5/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
