Black Dragon Gold Identifies Additional Targets
30 July 2019
Black Dragon Gold Corp. (ASX: BDG) (“Black Dragon” or the “Company”) is pleased to announce that its Spanish subsidiary Exploraciones Mineras del Cantábrico (“EMC”) recently completed a 760-line kilometre, high-resolution, airborne magnetic and radiometric, survey over the entire, 3,427 ha Salave Project.
The survey succeeded in enhancing our understanding of the geology, and identifying additional exploration targets within the Company’s investigative permit area. Furthermore, EMC recently submitted applications, for further drilling at the Salave Project, to the Asturias Ministry of Employment, Industry & Tourism.
Paul Cronin, Managing Director and CEO commented: “The survey has identified potential targets amenable to hosting gold mineralisation, adjacent to the deposit area and also within the permit area. I am pleased that the interpretation conducted by our consultants, has concluded Salave to be part of a much larger intrusive complex than previously thought. This provides further opportunity to examine and drill test targets outside the deposit area for which we plan to submit drilling applications soon.”
The magnetic survey data identified a broad area of magnetic high anomalies in the northeast quadrant of the permit area. Some of these magnetic highs are coincident with magnetic intrusive rocks, locally mapped as gabbros and diorites, along the coastline and immediately north of the Salave granodiorite, which hosts the Salave Deposit. The Salave Deposit, with dimensions of 700 m (x) x 600 m (y) x 400 m (z), occurs at the western end of the Salave granodiorite, currently mapped as a 2 km long by 500 m wide, WNW trending intrusion. The Salave Gold Project is situated at the northern end of the NE-SW trending Oscos Gold Belt, west of and parallel to the prolific Navelgas and Rio Narcea gold belts. New magnetic data has identified a WNW corridor of lower magnetic response coincident with the Salave granodiorite.
A 3D inversion interpretation of the magnetic data also shows that the Salave granodiorite is flanked by a 1 km by 1 km magnetic high, southeast of the Salave Deposit and maybe a southern extension of the Porcia Intrusive Complex. The modelled inversion data indicates this feature does not outcrop (consistent with the geological mapping) and indicates the magnetic feature is a NW plunging body that has been modelled down to 800 m and remains open at depth.
Collectively, the Salave granodiorite and gabbroic intrusions to the north are part of the Porcia Intrusive Complex. Given the size of the intrusive complex, the Salave granodiorite is likely not an isolated occurrence; there offers the potential to discover other occurrences of granodiorite that may host Salave-style alteration and mineralisation. Going forward, follow-up ground exploration, within the permit area, will be focused on lower magnetic intensity targets, proximal to magnetic highs with a focus on areas where ENE and WNW trending structures/features intersect, consistent with 2018 drilling which identified mineralisation extending towards the NW and SE at depth.
In addition to the above, EMC has recently submitted applications for supplementary drilling at the Salave Project, to the Asturias Ministry of Employment, Industry & Tourism. The drilling will largely focus on expanding the limits of the current mineral resources but will also include infill drilling to upgrade inferred to measured or indicated resources.
The 18-hole drilling programme has been designed to accomplish the following:
- Increase mineable resource inventory by upgrading inferred into measured and indicated. The high-grade inferred areas around the current resource model have been prioritised.
- Extend known resources, along northwest and southeast high-grade corridors, on either side of the resource model, testing structures which may potentially extend beyond the limits of currently known mineralisation.
- Extend high-grade resources at the northeast and southwest of the resource model.
The programme will push deeper into the northwest and southeast zones in the Salave Deposit, with maximum drilling depths reaching approximately 290 m total vertical depth. Drilling pads have been selected to minimise surface disturbance.
For more information, please contact;
Paul Cronin, CEO and Managing Director
P: +44 0207 993 4077 E: firstname.lastname@example.org
BLACK DRAGON GOLD CORP.
Stamford House, Regent Street, Cheltenham GL50 1HN UK