CORRECTING and REPLACING Provincial Government Grants Permit Extensions
Please replace the release dated December 4, 2018 with the following corrected version due to multiple revisions.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181204005821/en/
Figure 1 - Salave Permits and Concessions (Photo: Business Wire)
The corrected release reads:
PROVINCIAL GOVERNMENT GRANTS PERMIT EXTENSIONS
Black Dragon Gold Corp. (ASX/TSX-V: BDG) ('Black Dragon' or the 'Company') is pleased to announce that it has received a 30 year extension on its Ampliacion a Figueras Mining Permit, and a 3 year extension to the Salave Investigation Permit, from the Government of Asturias.
As Black Dragon embarks on an expanded exploration program following the recent drilling results, the extension of the Investigation Permit is a significant achievement. The permit covers over 2,765 hectares primarily to the south of the current Salave deposit (See figure 1) where little or no exploration has been completed historically.
Black Dragons CEO & Managing Director commented, "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 25ha area, and the Investigation Permit offers us over 2,765ha of unexplored ground. Our improved geological dataset will assist us to identify the potential for other deposits in this highly prospective region of Spain."
Table 1 – Salave Concession Details
| Concession Name | Registration Number | Area (ha) | Area (m2) | Date Granted | Expiration Date | ||||||
| Dos Amigos | 24.371 | 42.01 | 420,100 | September 10, 1941 | October 10, 2015 | ||||||
| Salave | 25.380 | 67.99 | 679,900 | April 10, 1945 | October 10, 2015 | ||||||
| Figueras | 29.500 | 304.54 | 3,045,400 | January 25, 1977 | January 25, 2037 | ||||||
| Ampliacion a Figueras | 29.969 | 68.85 | 688,500 | November 9, 1988 | November 9, 2048 | ||||||
| Segunda Ampliacion a Figueras | 29.820 | 167.55 | 1,675,500 | September 16, 1981 | September 16, 2041 | ||||||
| Investigation Permit - Salave | 30.812 | 2765.00 | 27,650,000 | February 18, 2014 | November 15, 2021 |
ABOUT BLACK DRAGON GOLD
Black Dragon Gold "BDG" is the 100% owner of one of the largest undeveloped gold projects in Europe, the Salave project. Salave is situated in the North of Spain in the province of Asturias. The Salave project has an updated combined Measured and Indicated Mineral Resource of 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.
A full technical report summarizing the Mineral Resource estimate completed by CSA Global is in progress and will be completed and posted on SEDAR and the Company’s website within 45 days. In addition to the current Mineral Resource, historical exploration work suggests there is the potential for additional mineralization within Black Dragon’s landholdings
QUALIFIED PERSONS AND COMPETENT PERSONS STATEMENT
The information in this announcement that relates to the updated Mineral Resource estimate for the Salave Gold Project is based on and fairly represents information and supporting documentation prepared by Dmitry Pertel MAIG, of CSA Global, is the Independent Qualified Person as defined by National Instrument 43-101 and is responsible for the updated Mineral Resource Estimate reported herein. Douglas Turnbull, P.Geo. Mr Turnbull is a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia, Canada (Engineers and Geoscientists BC), a recognised professional organisation for the purposes of the JORC Code. Douglas Turnbull is the President of Lakehead Geological Services, and a consultant to the Company. Douglas Turnbull has provided his prior written consent as to the form and context in which the updated mineral resource estimate and supporting information are presented in this announcement. Santiago Gonzales Nistal, EurGeol., a Qualified Person as defined by National Instrument 43-101 and consultant to Black Dragon, supervised the 2018 diamond drilling program at the Salave Gold Project, has reviewed and approved the scientific and technical disclosure in this news release. The Mineral Resource estimate was originally released on 25 October 2018.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181204005821/en/
Contact
Paul Cronin
CEO & Managing Director
P: +44 20 79934077
E: paul.cronin@blackdragongold.com
info@blackdragongold.com
www.blackdragongold.com