Further to previous market updates, the Board of Directors of DGR Global Limited (ASX:DGR) is pleased to report the continued development of its wider global resource industry interests with the following recent developments:
The recent announcements by ASX-listed Mt Isa Metals Limited (DGR: 50 million shares: 30.6%) regarding the further progress of its Nabanga Gold Project in Burkina Faso. Mt Isa Metals has engaged a firm of independent geological experts to commence the calculation of its maiden gold resource estimate at Nabanga, which is one of three (3) main gold project areas in which the Company is currently active in Burkina Faso.
The recent announcements made by Armour Energy Limited (DGR: 75 million shares: 25%) regarding:
- Encountering a gas show from its first well (Cow Lagoon 1) in its exploration and drilling program in the MacArthur Basin region of its granted Northern Territory tenements. Cow Lagoon 1 encountered gas from indeterminate zones in the Reward Dolomite between 342 and 540 metres depth. The gas show was encountered during air mist drilling in a tight calcite cemented dolomitic shale with poor porosity and permeability. The flare shown in the photograph below is driven from the well by the reintroduction of compressed air into the well after the connection of an additional pipe into the drill string during drilling. The drilling of Cow Lagoon 1 is continuing to allow Armour Energy to collect cores through the Barney Creek Shale and Coxco Dolomite, in order to test for thermal maturity, organic carbon content, liquids and gas content.
- The decision to extend the drilling depth of the Cow Lagoon 1 well to 1800 metres in order to test deeper targets indicated by seismic data interpretation.
- The successful tender for Queensland permit ATP 1107 which lies immediately south of, and adjacent to, Armour Energy’s existing Queensland tenement position ATP 1087. This effectively doubles Armour Energy’s Queensland ground position from approximately 1.8 million acres to 3.6 million acres, increasing its exposure to the South Nicholson Basin and in particular the Lawn Hill Formation within the underlying Isa Super Basin.
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