Dragon Energy Limited (ASX:DLE) Revised JORC Resource and New Exploration Target Estimate of Iron Ore for the Rocklea Project
Perth, Sep 19, 2011 AEST (ABN Newswire) - Dragon Energy Limited (ASX:DLE) is pleased to release a revised Inferred Mineral Resource estimate recently prepared by Golder Associates Pty Ltd at the Rocklea Project comprising 62.7 million tonnes grading 53.41% Fe (60.39% calcined Fe) compared with the 2009 Inferred Mineral Resource of 63.1 million tonnes grading 53.38% Fe (60.37% calcined Fe). The revised Mineral Resource differs by less than 1% in total tonnes and for most analytes when compared to the 2009 resource calculation.
New Rocklea Exploration Target
In addition to the JORC resource, Dragon has calculated an Exploration Target of 40 to 51Mt at a grade of 50-55% Fe (56-62% calcined Fe) at the Company's 100% owned Rocklea Project in the Pilbara region of Western Australia. The Exploration Target estimate was based on 12 RC holes drilled on wide traverse spacings in the target areas and outcropping Channel Iron Deposit ("CID") mineralisation.
Rocklea Project Drilling Update
Dragon has designed a drilling campaign at the Company's Rocklea Project to infill previous drilling with the aim to:
(i) increase the level of confidence of the current JORC resource,
(ii) expand the resource area with step-out drilling, and
(iii) define a new resource at the CID outcrop named "North Pod".
This programme has been submitted to the Department of Mines and Petroleum to undergo the necessary approval process, with the drilling campaign expected to commence in the December quarter of 2011.
In addition to the Exploration Target at the Rocklea Project, Dragon's 100% owned Nameless Project has an Exploration Target of 140-190Mt @ 48-52% Fe (54-56% calcined Fe), (Dragon ASX release 1st March 2011).
For the complete Dragon Energy announcement including figures and tables, please view the following link:
About Dragon Energy Ltd
Dragon Energy Limited (ASX:DLE) listed on the Australian Securities Exchange in February 2009. Dragon's flagship projects are Rocklea and Nameless Iron projects in the Pilbara region with a sizeable JORC resource defined at Rocklea and significant CID exploration targets at the Nameless Project. Dragon Energy's portfolio of tenements has numerous multi-commodity targets, including Fe, Mn, Au and U in Western Australia.
Dragon Energy Ltd