VANCOUVER, British Columbia--(BUSINESS WIRE)--Black Dragon Gold Corp. (TSX-V:BDG) ('Black Dragon' or the 'Company') is pleased to announce the assay results from the first two drill holes completed as part of the 2018 infill and definition drilling campaign on its Salave Gold Deposit in northern Spain. The programme targeted the heart of the current resource model and was designed to confirm the presence of vertically oriented zones of high grade gold mineralisation. Most of the historic drill holes were vertical and did not effectively define these vertical oriented zones of high grade gold mineralisation that intersect and branch out into the northwest trending shallow southwest dipping lenses of mineralisation that has been well defined by the historic drilling.
Selected drill results from the first two diamond drill holes completed include:
|Hole||From (m)||To (m)||Interval (m)||Au(g/t)|
Mineralized intervals were selected to achieve a minimum grade consistent with the mineral resource grades deemed amenable to underground mining methods in the 2017 MDA mineral resource estimate. The selected intervals included above were based on 2.5 g/t Au cut-off grade, 2 metres minimum interval length and maximum internal waste interval of 2 metres. True widths are unknown. Collar locations are UTM coordinate based on ERTS89 datum, Zone 29N – Please see Table 1.
The most recent NI 43-101 mineral resource estimate of the Salave deposit, originally completed by Mine Development Associates (“MDA”) in 2014 and updated in January 2017 (see February 2, 2017 news release), identified sub-vertical mineralized structures in addition to the broad zones of shallow dipping mineralisation and recommended further drilling to understand and define the orientation of these vertical features. The objective of the 2018 drilling programme therefore was designed to accomplish the following:
- Confirm the orientation of high grade gold mineralisation intersected in numerous drill holes during previous diamond drilling programmes.
- Provide information on the orientation of structures that potentially control the orientation of gold mineralisation at Salave.
- Confirm the gold tenor and intersection lengths of previous diamond drill holes.
- Provide additional structural and geotechnical data for ongoing project development studies.
CEO and Managing Director of Black Dragon, Paul Cronin commented “Whilst the results published today only represent a small number of the holes in the current program, the orientation of the intercepts support our view that Salave is indeed open to the SE and NW, and at depth. The exceptional grade in BD18-05 has in-filled gaps in the current block model, indicating that the higher grade structures are sub vertical, as interpreted. The gold grades intersected in both holes are consistent with the width and grade criteria used by MDA to define a mineral resource amenable to underground mining. We look forward to seeing the results from the remaining holes once completed, but at this stage we are thrilled with the additional exploration potential that these results indicate.”
The Company’s current campaign of drilling comprises a total of 6 diamond holes, of which the first two are reported in this release. Drilling is ongoing, and the next assay results are expected to be received and reported in May 2018.
Following receipt of all assay results the Company will assess the data to assist with planning subsequent phases of drilling, to assist with preparation of an updated mining study as part of the ongoing feasibility study into the development of an underground mine at Salave.
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Laboratory Group. SL (“ALS”) in, Spain and Ireland. ALS is an ISO 17025-2005 accredited and internationally recognized analytical services provider. All drill core was logged and sampled at its core storage facility in Tapia de Casariego. Sample intervals varied from 0.9 to 2.00 metres and all core was split and one half quartered by saw and quarter core samples were shipped to ALS in Seville. Samples were crushed and pulverized at ALS and a 50 gm sample was analyzed for gold by Fire Assay method and AA finish. Samples were also analysed by four acid ICP-AES for arsenic, antimony and sulphur. The Company follows industry standard procedures for the work carried out on the Salave Gold project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Black Dragon detected no significant QA/QC issues during review of the data.
Santiago Gonzales Nistal, EurGeol., a Qualified Person as defined by National Instrument 43-101 and consultant to Black Dragon, supervised the diamond drilling program at the Salave Gold Project and reviewed, verified and compiled the data reported herein. Douglas Turnbull, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to Black Dragon has reviewed and approved the scientific and technical disclosure in this news release.
Signed "Paul Cronin"
Chief Executive Officer
on behalf of the Board of Directors
About Black Dragon Gold
Black Dragon Gold “BDG” is the 100% owner of the largest undeveloped gold project in Europe, the Salave project. Salave is situated in the North of Spain in the province of Asturias. The Salave project has measured and indicated resources totalling 6.52 million Tonnes grading 4.51 g/t Au containing 944,000 ounces of gold at a 2.0 g/t cutoff grade and gold price of USD$1,100/ounce. For more information on the Salave project, please refer to the technical report, “Amended Technical Report on the Salave Gold Project, Asturias Region, Spain” dated October 7, 2016, as amended January 31, 2017, filed on SEDAR. In addition to the current mineral resource, historical exploration work suggests there is the potential for additional mineralisation within Black Dragon’s landholdings.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Table 1 – Drill Summary