Drake Resources has extended previously drilled hole TSOO4 and intersected a further 100 metres of disseminated sulphides at its Granmuren copper-nickel discovery in central Sweden. The permit containing the Granmuren discovery, and all of the additional nickel permits in the district, are wholly owned by Drake. Down hole EM indicated the presence of a sub-horizontal conductive plate below the bottom of Hole TS004, which had been stopped at 106.75 metres.

This hole was extended immediately before the Christmas break. Strong sulphide mineralisation with more than 15% pyrrhotite occurs over five metres from 116.25 metres in TS004, within a broader 22 metre zone of greater than 10% sulphides from 116.25 to 138 metres (Figure 2&3). Below this sulphide bearing pyroxenites and gabbros continue to 199.4 metres at lower sulphide levels.

The hole ended at 215.9 metres. The presence of nickel and copper in the sulphides in TS004 has been confirmed by Drake's geologists and the on-site XRF (x-ray florescence spectrometer). Nearby holes, TS001-TS003 reported in April 2012 contained pyrrhotite mineralisation with the following intersections: 16m @ 0.32% Ni, 0.50% Cu & 0.03% Co.

in 12DDTS003 within overall intersection of 97m, @ 0.17% Ni & 0.17 Cu, 11.6m @ 0.40% Ni, 0.51% Cu & 0.04% Co. in 12DDTS001.