Draig Resources on the hunt for coal in Mongolia

Feb 7 • Mining, News • 619 Views • No Comments on Draig Resources on the hunt for coal in Mongolia

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Draig Resources (ASX: DRG) has identified numerous Jurassic coal bearing drill targets following a geophysical survey of two of its coal licences in the Ovorhangay province in Mongolia, as it works towards defining a JORC Resource in the June quarter.

The targets identified within the Teeg and Nariin Teeg licences were relatively shallow and, at Teeg, could potentially include two laterally continuous synclinal features.

Drilling on Teeg undertaken by Draig in June 2011 intersected a broad 60 metre coal seam characterised by vitrinite‐rich massive hard black coal in the lower part of the seam.

A separate 40 metres of thick black coal seam was intersected from a depth of 89 metres, of which 30 metres was logged as consistently hard coal.

Importantly, the geophysical field work indicates the potential to define a substantial coal resource at Teeg.

The survey comprised 32 kilometres of geophysical (resistivity) survey work. A total of 12 lines of geophysical survey work were carried out on the Teeg licence and three lines on the Nariin Teeg licence at depths of up to 260 metres.

Draig is currently in talks with drilling contractors to undertake a two‐phase drill program.

Phase one will include 10 drill holes with a combined depth of about 2,200 metres to obtain samples for coal quality testing.

Phase two will aim to increase the resource size based on information from phase one and previous exploration work.

Source: http://www.proactiveinvestors.com.au

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