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Black Dragon Gold Corp.
Summary
| Project: | Salave | |
|---|---|---|
| Deposit: | Salave | |
| Location: | Spain | |
| Commodities: | Gold | |
| Date: | 10/24/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-10-2018: Black Dragon Gold Corp. announces a Resource Estimation report for its Salave deposit at the Salave project. Updated mineral resource estimate at the project. Vancouver, BC – 24 October 2018 Black Dragon Gold Corp. (ASX/TSX-V: BDG) ('Black Dra | |
| Resources: | (Resource, M+I): 8.21Mt @ 4.58g/t Au for 1208Koz Au contained | |
| CP/QP: | [Resources]: Dmitry Pertel (CSA Global Pty Ltd.) | |
| ABSTRACT: | Vancouver, BC – 24 October 2018 Black Dragon Gold Corp. (ASX/TSX-V: BDG) ('Black Dragon' or the 'Company') is pleased to announce an updated NI 43-101 Mineral Resource Estimate for its Salave Gold Deposit (‘Salave’) in northern Spain. The updated estimate follows 2,217 metres of core drilling completed in 2018 and based on a revised interpretation of the Salave Deposit. The updated combined Measured and Indicated Mineral Resource now totals 8.21 million tonnes grading 4.58 g/t Au, containing 1.21 million ounces of gold, plus inferred resources totalling 3.12 million tonnes grading 3.47 g/t Au, containing 348,000 ounces of gold. The new Mineral Resource estimate has yielded a small increase in average grade and for Salave represents a 28% increase from the 944,000 combined Measured and Indicated ounces defined in the Company’s previous resource estimate at the same cut-off grade of 2.0 g/t Au, released in March 2014 and restated on 2 February 2017. Black Dragon has initiated a Preliminary Economic Assessment (‘PEA’) that will incorporate the increased new Mineral Resource and a new underground mine plan. The overall goal of the 2018 PEA is to develop an economically robust mine plan that has a minimal footprint by focusing on the highest-grade portions of Salave’s updated Mineral Resource model. The Company’s management is committed to and confident that we will be able to develop a mine plan that fits in with the local community’s expectation of a responsible and environmentally respectful mining operation. CEO and Managing Director of Black Dragon, Paul Cronin, commented: “In addition to the material increase on the previous resource estimate, today’s news marks yet another significant milestone in the advancement of Salave. We believe there is an excellent opportunity for further expansion of the Salave resource because the 2018 drilling program and updated resource model have identified other areas for follow-up drilling and the potential expansion of the Salave Deposit. The work completed over the past 12 months to update the historical data at Salave is proving a good investment and, with additional drilling planned for 2019, we are confident that we can further grow Salave resource base. In the meantime, our preliminary economic assessment is under way and we are looking forward to sharing the results before the end of the year.” | |
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