Dragon Energy Ltd (“Dragon”) is an exploration company controlling a portfolio of tenements in Western Australia.
Dragon presently holds 3 mineral projects in Western Australia. The mineral projects comprise 9 tenements, and have exploration targets encompassing Cobalt, Gold, Iron Ore and base metals.
In September 2016 DLE announces that it has entered into an agreement to acquire the Tabac Cobalt-Gold Project (Tabac Project or the Project). The Project represents a significant cobalt-gold exploration target with its scale and grade potential demonstrated in prior drilling.
Presently 94% of the global supply of cobalt is as a byproduct of copper and nickel production and therefore its availability is controlled by the fickleness of those markets. The balance is mostly sourced from countries with elevated sovereign risk. Subject to ongoing exploration success, Tabac potentially can provide both a secure independent source of cobalt and leverage to future market price sensivities.
The Tabac Project is located on the Goldfields Highway 30km west of Wiluna and 135km east of Meekatharra in the Northern Goldfields Region of Western Australia. The Project sits adjacent to the Paroo Station Mine and camp (previously known as the Magellan Lead Mine), which is on care and maintenance.