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Black Dragon Gold Corp

Black Dragon Gold receives extensions to mining and exploration permits at Salave Gold Project

The company is undertaking a preliminary economic assessment and will begin an expanded exploration program.

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Salave is in Spain's northwest, close to two ports

Black Dragon Gold Corp (ASX:BDG) (TSX-V:BDG) has received extensions to the mining and exploration permits at its Salave Gold Project in the Asturias region of Spain.

The government of Asturias has extended the Ampliacion a Figueras mining permit for 30 years and the Salave investigation permit for three.

Black Dragon considers the investigation permit extension a significant opportunity to expand the project as the permit covers a 2,765-hectare area south of the Salave deposit where little or no exploration has been undertaken.

Potentially identify other deposits

Black Dragon managing director & CEO Paul Cronin said: “The extension of the permits is a great outcome for the company and will allow us to expand our exploration program at Salave.

“The current mineral resource at Salave is confined to a 25-hectare area and the investigation permit offers us over 2,765 hectares of unexplored ground.

“Our improved geological dataset will assist us to identify the potential for other deposits in this highly prospective region of Spain.”

Expanded exploration program

Black Dragon will soon begin an expanded exploration program following high-grade drilling results at Salave.

Two drill holes outside of the current mineral resource model returned substantial high-grade gold mineralisation, with one hole returning a broad intersection of 23.3 metres at 29.1 g/t gold from 164 metres.

This intersection also included samples of 9.1 metres at 65.1 g/t from 171.8 metres and 3.4 metres at 148 g/t from 176 metres.

Results from the second hole included: 4.8 metres at 16.3 g/t from 230.7 metres; and 14 metres at 10 g/t from 209.9 metres, including 4.1 at 24.5 g/t from 219.8 metres.

Preliminary economic assessment

The company recently updated Salave’s mineral resource estimate and began a preliminary economic assessment (PEA).

Salave’s combined measured and indicated mineral resource is now 8.21 million tonnes at 4.58 g/t containing 1.21 million ounces of gold.

The PEA will incorporate the new mineral resource and a new underground mine plan to develop an economically robust mine plan that has a minimal footprint.

Quick facts: Black Dragon Gold Corp

Price: $0.08

Market: TSX-V
Market Cap: $8.87 m
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