- Black Dragon’s Spanish subsidiary Exploraciones Mineras del Cantábrico, has recently completed a 760 line kilometre survey over the ‘Salave’ Project
- The survey aimed to enhance the understanding of the geology and identify additional targets
- Data unearthed during the survey identified a broad range of magnetic high anomalies in the northeast
Explorer Black Dragon has announced that its Spanish subsidiary has recently completed a 760 line kilometre survey over its Salave Project.
The survey by the subsidiary, Exploraciones Mineras del Cantábrico (EMC), succeeded in enhancing the understanding of the geology and identifying additional exploration targets.
The 3427 hectare Salave Project is located in northern Spain and consists of five mining concessions and associated extensions covering an area of 662 hectares.
Investigation permits held by the companies cover another 2765 hectares.
So far drilling has totalled 67,142 metres in 378 holes, of which 334 were diamond drilled, and metallurgical tests indicate that gold recoveries over 90 per cent are possible.
Data achieved from the magnetic portion of the survey identified a broad range of magnetic high anomalies in the northeast of the permit area.
A 3D inversion interpretation of the magnetic data also shows that the Salave granodiorite (form of rock) is surrounded by a one-by-one kilometre magnetic high, which may be a southern extension of the Porcia Intrusive Complex.
The modelled data indicates that while this feature does not outcrop, it remains open at depth.
As well as the survey, EMC also recently submitted applications for supplementary drilling at Salave to the Asturias Ministry of Employment, Industry and Tourism.
This drilling will primarily focus on expanding the limits of the current mineral resources with secondary focus on infill drilling to upgrade the inferred resource to either measured or indicated.
This will expand deeper to both the northwest and southwest zones at the Salave deposit with maximum drilling depths reaching approximately 290 metres.
“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,” Black Dragon CEO Paul Cronin commented.
“This provides further opportunity to examine and drill test targets outside the deposit area for which we plan to submit drilling applications soon,”
BDG shares remain unchanged today, currently trading for 7.9 cents with a market cap of $8.758 million.