Welcome To Drake Resources 

Drake Resources

(ASX: DRK, "Drake") is a base metals and gold/silver explorer with projects in Scandinavia, West Africa and Australia.

 

In the six years since listing on the ASX, Drake has established a robust portfolio of projects. Drake's competitive advantages include a premier position in the world-class Falun copper-zinc belt in Sweden, a major landholding for gold in Mauritania, an experienced technical team with a successful track record, and a pipeline of projects and opportunities.

 

Drake's objective is to become a successful and profitable exploration and mining company. The Company aims to achieve this goal by pursuing exploration and mining opportunities and exploring high quality projects in a technical, cost-effective manner.

 

Currently, Drake is focused on advancing its West African gold projects. Drake recently raised $7m to be used predominantly to progress drilling and assessment of African assets. This includes an immediate focus on Tasiast South and Conchita (where the recent drilling program gained high-grade hits). It also has an extensive portfolio in Mauritania with known gold mineralisation, and has expanded it's West African footprint into Senegal near to several world-class gold deposits.

 

Drake is in joint venture with Royal Falcon Mining LLC at its Falun and Bersbo Projects, Royal Falcon Mining is a jointly owned company between Golden Rim Resources Ltd and the PAL Group, a subsidiary of Royal Group, based in the United Arab Emirates. Royal Falcon has spent US$3 million to earn 51% of the projects, and has elected to increase its interest to 75% by spending afurther US$3 million on exploration.

 

Drake and Panoramic Resources Ltd have entered into Joint Venture Agreements to explore and develop base and precious metals projects, primarily in Scandinavia. The Alliance builds on Drake’s operating experience in Sweden, and its knowledge of opportunities in Scandinavia. Panoramic is sole funding exploration to earn 70% in each of the JVs. Drake has the option to either fund its 30% interest or dilute.