Dragon Mountain Gold

History

Dragon Mountain Gold Limited ("DMG" the "Company") is a public company registered in Perth, Western Australia which has been operating in China since its incorporation in September 2004.

Until 2007, DMG's main focus was on exploration for gold deposits within the major mineralised Tian Shan Orogenic Belt in the under explored section located in the Xinjiang Province of north-west China. The Company has a majority interest in a portfolio of gold exploration projects in the Xinjiang Province (Xinjiang Projects) with potential for the style of gold deposits seen elsewhere within the Tian Shan Orogenic Belt, Muruntai (140Moz), Kumtor (9Moz) and Zarmitan (8Moz).

In 2007, the Company acquired an 83.6% shareholding in Warrior Advance Limited, a Canadian unlisted company. In 2010 Warrior Advance Limited was re-domiciled as an Australian company, Warrior Advance Pty Ltd. Warrior's 100% subsidiary, Long Province Resources Limited, owns approximately 90% of the Lixian Gold Project in the Gansu province in central west China. The Lixian licences contain a major gold mineralised system in the Gansu Province.

The Company has entered into co-operative joint venture agreements in respect of each of the Lixian and the Xinjiang Projects with significant counterparties. Namely the:

  • subsidiaries of Gansu Non-Ferrous Metallurgical Bureau at Lixian in the Long Jin Joint Venture and the Long Ao Joint Venture
  • a subsidiary of the Bureau of Geology and Mineral Resources in the XPPM Joint Venture covering the Xinjiang Projects exploration effort.

Key Milestones

  • November 2006 - Agreement signed to acquire the Lixian Gold Project through a majority interest in Warrior Advance Ltd.
  • February 2007 - Operations at Lixian Project commence ramp up with offices and teams established.
  • April 2007 - XPPM Joint Venture Business Licence issued.
  • May 2007 - DMG acquired a majority interest (83.6%) acquired in Warrior.
  • May 2007 - PPG/DMG Company and Board restructure complete.
  • June 2007 - Pan Pacific Gold Limited name changed to Dragon Mountain Gold Limited.
  • June 2007 - A$15,000,000 raised and the IPO closed oversubscribed.
  • July 2007 - Dragon Mountain Gold Limited listed on the ASX (ASX:DMG).
  • March 2008 - Strategic placement completed to institutional investors to raise A$6.32M .
  • June 2008 - Maiden JORC-Code compliant Mineral Resource announced. 
  • December 2008 - Significant first drill results released for the Taoping-Jinshan Deposit.
  • July 2009 - Update and Upgrade of JORC-Code compliant Mineral Resource at Zhou Gou announced. 
  • April 2010 - Excellent results of drilling program at Wa Wu Gou announced.
  • October 2010 - Exclusivity Agreement signed with undisclosed party. 
  • January 2011 - Five Exploration Licences at Lixian renewed. 
  • July 2011 - Maiden JORC Resource announced for Jinshan, Lixian.