Profile

Drummond Gold Limited is currently undertaking exploration of epithermal and intrusion related gold targets and drilling for expansion of its current 272,000 oz JORC compliant gold resource contained in two former mines and one new deposit.

Operations commenced in 2006 on its holding of wholly owned tenements within 150 km of Mt Coolon, central Queensland.

This Prospectus is seeking funding for the 2008 and 2009 financial years to expand the Company's mineral resources.

The Company intends to continue exploration, and, if exploration is successful, undertake a feasibility study which includes the concept of construction of a central treatment plant for production. The Company is also investigating complimentary acquisitions.

Location and tenements


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Drummond Gold has operations commencing on its 100% owned tenements within 150 km of Mt Coolon in 2006. Exploration and drilling programs are currently underway, with four Mining Leases comprising 3 km2. The company holds a 100% interest in 10 Exploration Permit Minerals (EPMs) covering 734 km2 at Mt Coolon and one of 74 km2 at Conway, plus applications covering an additional 2,582 km2 elsewhere in the Drummond Basin.

2008 & 2009 program

The Company plans in 2008 and 2009 to:

  • Target epithermal bonanza vein and bulk low grade gold deposits.
  • Test the known base metal potential on its tenements.
  • Drill at least five prospects with a view to increasing its JORC compliant gold resources. Expenditure is focused on drilling, as this is a proven path to exploration success.
  • If exploration is successful, study the feasibility of commencing mining operations at Mt Coolon and building the CTP.
  • Actively pursue growth by investigating project acquisition opportunities.
  • Invest $4.1 million on exploration drilling and assays costs and $2.9 million on other direct project costs, with an $8.7 million total budget including corporate and company administration costs.