THE BOURSE WHISPERER: Draig Resources (ASX: DRG) has increased its landholding around the company’s Bellevue gold project in the Goldfields region of Western Australia.
Draig Resources has taken its land tenure to over 4500 square kilometres in proximity to Bellevue.
The company now boasts a dominant project portfolio in what it considers as being a well-endowed mining district and near noteworthy existing gold operations such as Northern Star’s (ASX: NST) Jundee, Echo Resources’ (ASX: EAR) Bronzewing, Red5’s (ASX: RED) Darlot and Saracen’s (ASX: SAR) Thunderbox operations.
Draig currently has drilling underway at the Tribune high-grade discovery at the Bellevue project with a maiden resource estimate on track for later in the year.
“The company is pleased to significantly increase our land holding in a well-endowed mining district that is host to a major gold and base metal operations,” Draig Resources executive director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.
“Draig now has a large presence in a highly prospective and underexplored region of the north eastern goldfields region of Western Australia.
“Our geological team is undertaking preliminary targeting work ready for on ground exploration in the second half of 2018.
“As we work up these new target areas the company continues to advance its core asset the high-grade gold Bellevue gold project and is on track to deliver a maiden resource estimate in Quarter three 2018.”