The Drake is a large monster that is weak to Ice. It resists Fire, and the Caught Fire debilitation does not work on it at all, so a fire-based approach does little. When defeated, it drops Brinebeast Ore, Brinebeast Fragment, Ferrystone, Ring of Dragonsbane, Dragon Scale, Wyrmslife Crystal, Wakestone, Giant Hunk of Rift Crystal, Panacea and Allheal Elixir. During a fight you can pilfer Brinebeast Ore, Dragon Scale, Wakestone Shard, Wyrmslife Crystal and Brinebeast Fragment from it.
The world map has 8 Drake spots. Single spots sit around Ancient Battleground, Dragonsbreath Tower, Guerco Cavern, Holy Mausoleum Ruins and Precipitous Catacombs, so a hunt can take you to any of these places. The Unmoored World has 3 more Drake spots, one of them near Sandspire Den.
Brinebeast Ore
Brinebeast Fragment
Ferrystone
Ring of Dragonsbane
Dragon Scale
Wyrmslife Crystal
Wakestone
Giant Hunk of Rift Crystal
Panacea
Allheal Elixir
Wakestone Shard