Draig Resources has intersected a coal seam with a cumulative thickness of 66.75 metres at its Teeg licence in Mongolia’s Ovorhangay province. The company says this seam included a single seam thickness of up to 33.4 metres starting at a depth of less than 61 metres.1

Thick coal sequences previously announced by the company are also continuing to be intersected, confirming potential for a 3.5km subcrop along strike.

The current drill program includes 24 holes over 3400 metres with half of these holes intersecting relatively shallow multiple coal seams at less than 120 metres deep.

Further testing will continue in the northern part of the licence to confirm potential coal sequence extensions.

“The depth and thickness of the coal seams encountered have exceeded our expectations and while we await coal quality analysis, the coal samples so far are reported as being visually hard and bright,” says Draig’s managing director Mark Earley. These outstanding results will see the phase 1 drill program extended to contribute to a JORC resource being established.

The first phase drill program was focused on confirming one of the potential sequences identified in a 2011 due diligence program, which intersected black coal seams of up to 40 metres. Two drill rigs are working around the clock to achieve up to 300 metres per day, with one rig diamond drilling to core the representative coal intervals for quality and petrographic analysis.

Draig acquired eight highly prospective coal licences, including the Teeg prospect, in Mongolia’s Ovorhangay and South Gobi provinces in October 2011. The Ovorhangay licences are about 130km from the provincial capital Aryayheer and about 520km southwest of the Mongolian capital Ulaanbaatar.

www.draigresources.com

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