Drake Resources is pleased to announce that the application for an exploration licence that covers the historic Falun Copper Mine in Sweden has been granted. The licence (Falun Nr 100) is part of the Zinifex (ASX Code: ZFX) -Drake Resources (ASX Code: DRK) Alliance, and now becomes a joint venture between the two companies.

Falun 100 covers the historic, world-class Falun copper mine which operated for over 1300 years until its recent closure in 1992. During the 17th and 18th centuries Falun was the world’s largest copper mine, producing two-thirds of the world‘s copper. This mine generated the wealth that made Sweden a powerful nation in northern Europe at that time.

Whilst best known as a major copper producer, Falun was also Sweden’s largest gold mine and the second largest silver mine. During the 1980s annual production from the mine was approximately 200,000t of ore at an average grade of 6% Zn, 2%Pb and 0.5% Cu.

Drake and Zinifex are very encouraged by the potential of this exploration licence:
• The historic production testifies to the rich metal endowment of the area
• There has been little exploration beyond the immediate vicinity of the mine, virtually none using modern exploration methods
• Geological insight and understanding of the styles of mineralisation has advanced since mine closure

	30th Aug 2007		DRK-ZFX JV Sweden - Falun Licence Granted
	24th Jan 2007		Drake Zinifex Alliance applies for tenements in Sweden