DRK 0.00% 1.2¢ drake resources limited

soon to rumble....

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    Sydney - Friday - August 5: (RWE Australian Business News) -
    Drake Resources Ltd (ASX code: DRK) has applied for two uranium
    exploration licences covering 115 kilometres of calcrete-bearing
    channels in Western Australia's Eastern Goldfields region, between
    Wiluna and Leonora.
    BHP Billiton's Yeerlirrie uranium deposit lies 50km north of the
    applications. Yeerlirrie has a reported resource of 35 million tonnes at
    1.5 kg/tonne uranium.
    Exploration in the 1970s on the Bungalow Well property by Le
    Nickel (Australia) Pty Ltd down-channel from the Drake applications has
    demonstrated this channel system contains uranium mineralisation.
    Managing director Dr Bob Beeson, who has extensive uranium
    exploration experience in Australia, South Africa and the Middle East,
    said, "Drake considers that these highly prospective and underexplored
    tenements represent an outstanding opportunity to establish a uranium
    exploration presence in Western Australia."
    The announcement was made after the close of trading.
 
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