Further to the previous market update of 23 February 2012, the Board of Directors of DGR Global Limited (ASX:DGR) is pleased to report the continued development of its wider global resource interests with the following recent developments:
- The recent announcement by ASX-listed Mt Isa Metals Limited (DGR: 50 million shares: 30.6%) regarding a new gold discovery at Natougou, within the Boungou gold project in Burkina Faso, Africa. Mt Isa Metals reports that, in addition to significant gold intersections from its initial RC drilling at Natougou, gold-in-soil anomalies within the broader Boungou area remain open in all directions, and several targets remain to be drill-tested;
- The approval granted on Friday for the ASX debut of Armour Energy Limited (DGR: 75 million
shares: 25%) on Thursday 26th April 2012, following its successful $75 million capital raising at 50 cents per share. Armour Energy is aiming to explore a potentially world-class shale oil and gas project in Northern Australia, complemented by its investment in, and farm-in arrangements with, Victorian-based ASX-listed Lakes Oil Limited, exploring for oil and gas in the onshore Gippsland and Otway Basins.
- The initiatives being undertaken by LSE(AIM)-listed Solomon Gold Plc (DGR: 33 million shares:
10.6%) in relation to its intention to farm-in to the Cascabel gold-copper-silver project in Ecuador, and plans for a dual-listing onto the ASX. Solomon Gold remains active in Queensland and the Solomon Islands, whilst continuing its search for potential world-class gold / gold- copper porphyry style projects within the circum-Pacific Rim of Fire;
- Progression of applications to the Gabonese Government by IronRidge Resources Limited (DGR: 46 million shares: 58%) for two (2) exploration areas prospective for hematite and magnetite iron-ore. In addition, IronRidge Resources has raised $1 million in working capital in 2012 to fund its on-going exploration and corporate development efforts.
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