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Mineral explorer DGR Global Limited (ASX:DGR) has unleashed its quarterly activities report for the quarter ended 31 December 2018. The company has secured two new Exploration Permits applications over lithium and caesium pegmatites in Southern Queensland for its 100%-owned Albatross Bauxite.
During the quarter, the company has recognized the potential for world-class copper-gold mineralization at Mt Abbott, Calgoa and Marodian Projects and large sulphide nickel-cobalt- copper discoveries near Hawkwood Project Area within Auburn Resources in Eastern Queensland. DGR Global also revealed that Auburn Resources is planning for IPO and ASX listing in 2019. Â
DGR Global continues to focus on new project generation and exploring investment opportunities in listed mineral companies. DGRâs portfolio includes 11.11% interest in SolGold plc, 22.02% in Armour Energy Ltd, 22.18% in IronRidge Resources Ltd, 16.73% in Dark Horse Resources Ltd, 18.24% in Aus Tin Mining Ltd, and 49.42% in unlisted Auburn Resources.
SolGold provided an update on Alpala Mineral Resource Estimate in November, reporting double the initial estimate that it released a year ago. It has also completed Over 160,000 meters of drilling with further significant long, high-grade drill intersections announced during the quarter. Armour received cost contribution grant of up to $6 million to enable accelerated drilling of three production wells at Kincora under the Federal Government Gas Acceleration Program. Armour Energy also announced that the LPG system of the Kincora Gas Plant had been successfully recommissioned and the whole plant is now fully operational.
Lithium and gold development remains the focus area for Dark Horse Resources Ltd in Argentina. Following the sale of subsidiary NavGas Pty Ltd to Lakes Oil NL (LKO) Dark Horse Resources now holds 9.6 billion shares in LKO. Aus Tin Mining Ltd has returned high-grade cobalt results from initial drilling at Mt Cobalt west of Gympie, Qld which discovered initial target zone 350m long and 25m wide open at depth. Aus Tin also reported significant progress at the Granville Tin Project in Tasmania and civil works well advanced for Level 2 operations. Its August 2013 JORC resource estimate has also confirmed Taronga as a world-class tin project.
DGR Globalâs 100% owned Coolgarra Minerals Pty Ltd has acquired one new Exploration Permits application south of Greenvale, Queensland. It now holds total 5 Exploration Permits for gold, nickel, cobalt, and antimony in North Queensland. DGR also owns 94% of the Pinnace Gold Pty Ltd which holds substantial and extensive gold exploration tenements south of Charters Towers, Queensland.
DGR shares traded flat on 24 January 2019. However, 61,828 shares changed hands on ASX. The stock last traded at $0.120. Over the past 12 months, the stock has witnessed a positive change of attractive 23.71%.
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