Sydney, Oct15, 2010—Dragon Energy Limited has received significant assay results from 100% owned E69/2377-I, which forms part of the Lee Steere Project in the Eastern Nabberu Basin, Western Australia. Selective and representative rock chip sampling returned grades of up to 65.6% Fe and 33.6% Mn. This initial exploration results have demonstrated a very good manganese and iron exploration potential in this region and the company is planning to advance the project as a priority.
Dragon Energy Limited (“Dragon”) was incorporated in June 2006 and in February 2009 was admitted to the Official List of ASX. The Company’s listing on the ASX was facilitated by cornerstone investor the China-based Shandong Taishan Sunlight Group Company Limited (“Shandong Group”), which controls 1.5 billion tonnes of coal and 100 million tonnes of iron ore resources in China as well as engaging (in a lesser capacity) in steel making and power generation. It has also facilitated many large commercial mining transactions in the Chinese resources sector.
Source: www.abnnewswire.net