Draig Resources greenlights 2013 exploration program at Mongolian coal licence

Draig Resources (ASX:DRG) and its joint venture partners have greenlighted the Stage 1 of the 2013 exploration program at their coal exploration licences in Mongolia.

Work to be undertaken as part of Stage 1 includes mapping, ground magnetic surveys and drilling over anomalies identified from previous exploration work done in earlier programs.

The exploration plan is part of the overall exploration initiative to test out new areas of interest among the existing licences.

Draig, via its subsidiary holds 75% interest in the Mongolian Coal Joint Venture that manages eight coal exploration licences.

Four of these licences are located in the Uvurkhangai and four are located in the South Gobi region.

Exploration at Uvurkhangai tenement includes field mapping and trenching at Teeg and Urtiin-Am licences, which will be followed by ground magnetic survey and rotary air blast drilling.

Field mapping and trenching will also be done at Khongor.

In the South Gobi, magnetic survey will be done over Zamt Uul, which will be studied to evaluate previous resistivity data.

Also mapping will done over Gurvantes licences" northern area, while drilling will be undertaken in the south of the licence over anomalies identified from resistivity work carried out in the previous programme.

Source: Proactive Investors Australia