Draig Resources Ltd is an ASX-listed (ASX: DRG) company which holds the Bellevue Gold Project in Western Australia and interests in two coal exploration licences in Mongolia.
The Bellevue sits within a high-grade gold district that includes Ramelius’ Kathleen Valley and Vivien projects. The Project area covers 27 sq km over three granted mining leases and one exploration licence with the last significant exploration having been conducted in the 1990′s.
The Mongolian Coal licences are managed under a joint venture arrangement (Mongolian Coal Joint Venture (No. 1)). A subsidiary of Draig holds a 75% interest in the joint venture and subsidiaries of Trinity Mongolia Pty Ltd (“Trinity”) hold 10% and 15% interests. The Draig subsidiary is the manager of the joint venture. This subsidiary holds the licences on a 100% basis on behalf of the joint venture.
The licences are located in the Ovorhangay region.