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Dragon Energy Limited (DLE)
is a publicly listed company on the Australian Securities Exchange (ASX).


{{businessSummary}}

General Overview

About Dragon Energy

Dragon Energy Ltd (“Dragon”) is an exploration company controlling a portfolio of tenements in Western Australia.

Dragon presently holds 2 mineral projects in the Pilbara region, Western Australia. The mineral projects comprise 7 tenements, totaling 254 km2 in area, and have exploration targets encompassing iron ore, gold and base metals.


Projects

Pilbara Iron Project (Rocklea Deposits)

The Pilbara Iron Project is Dragon’s advanced project, comprising the Rocklea Channel Iron Deposits (CID) in the central Pilbara Iron Ore Province of Western Australia.

The Rocklea Deposit is located 33km SW of the mining town of Tom Price. It is situated on the eastern margin of the Rocklea Dome where Archaean age Fortescue Group Formations dip to the east and are overlain by Tertiary age CID and other Cainozoic deposits of sand and gravels. The CID comprises goethitic and hematitic detrital deposits of the Tertiary Robe Pisolites. Dragon acquired Ausquest’s Rocklea iron project in 2010 and the adjoining Murchison’s Rocklea iron project in 2012.

The project is ideally placed to be one of the Pilbara region’s next producing iron ore mines. Inferred and Indicated Mineral JORC Resources of 383.1Mt @ 50.94% Fe using a 45% Fe cut-off grade have been identified, which includes a higher grade component of 263.6Mt @ 52.6% Fe using a 50% Fe cut-off grade.

A number of studies and negotiations have been completed following the decision to develop the project. A scoping study was prepared by GHD in January 2012, which analysed the technical and economic viability of the project. Feasibility studies for the project commenced in FY2013. A Mining Proposal for a Rocklea Early Tonnes mining operation was submitted to the DMP for environmental approvals (Vegetation Clearance Permit granted). Studies continue to investigate transportation options for the Pilbara Iron Project.

Ashburton Project (E08/2209-2211, E47/2417)

The Ashburton Project is located in the Ashburton Basin, and is 10 to 40km from rail and other infrastructure associated with the Paraburdoo operations of Rio Tinto Limited.

Field reconnaissance demonstrated a paucity of outcrop over E08/2211 & E08/2209. These tenements host the greatest thicknesses and areal extent of Cainozoic sediments, which potentially fill palaeochannels presently incised by Turee Creek as it flows south into Ashburton River. The braided drainages of Turee Creek and Seven Mile Creek drain the ranges of the Brockman Iron Formation near Paraburdoo, as such these palaeochannels may host detrital and/or Channel Iron Mineralisation.

Elevated alluvial gravel beds are evident with the ground surface dominated in parts by iron (hematite) gravels. Small outcrops of foliated ferruginised sediments and ironstone were observed- possibly shear or gossan in the basement sediment. These outcrops returned up to 51% Fe, 555ppm Zn and 292ppm Ni and may be associated with mantle tapping structures (identified by a 2011 seismic survey), namely the Barings Down Fault which transects E08/2211.

DMP releases of seismic data in 2012 and a regional EM survey over the project area in 2014 enables Dragon to investigate potential base metal and gold targets. This is dependent upon re-processing the EM and magnetic data and carrying out a planned ground IP survey, which will provide drilling targets.

A small 200 x 800m to a 200 x 400m soil sampling programme was undertaken over the interpreted Barings Down Fault. Gold assay results were up to x46 times background, with a maximum of 23ppb. These low level albeit significant gold anomalies are parallel to the Barings Down Fault, the transported material to the south possibly masks further geochemical surface expressions. The widespread copper anomalies also have a parallel trend to the Barings Down structure, albeit only x3 times above background. Further soil sampling has been planned to extend coverage further to the south to encompass magnetic structural elements.



Contact Info

Dragon Energy Limited

Suite 8
1297 Hay Street
West Perth, WA
AU Australia, 6005

Phone: +61 8 9322 6009
Fax: +61 8 9322 6128
Email: info@dragonenergyltd.com
Website: http://www.dragonenergyltd.com

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Dragon Energy Limited Google Map
Dragon Energy Limited Google Map

Share Registry

Computershare Investor Services Pty Limited - Click here to view share registry profile

Phone: +61 3 9415 5000
Fax: +61 3 9473 2500
Email: investor.relations@computershare.com.au
Website: http://www.computershare.com/

452 Johnston Street
Abbotsford, VIC
AU Australia, 3067


Important Information

The General Overview, Services, Products and Projects information for this profile was last edited on 16 Sep 2016.

All Financial Data is provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Share Prices nor any independent data provider is liable for any informational errors, omissions or other defects, incompleteness, or delays, or for any actions taken in reliance on Financial Data.

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