Proactiveinvestors Australia Black Dragon Gold Corp https://www.proactiveinvestors.com.au Proactiveinvestors Australia Black Dragon Gold Corp RSS feed en Wed, 24 Apr 2019 00:15:11 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Black Dragon Gold's positive PEA for Spanish gold project confirms 14-year mine life ]]> https://www.proactiveinvestors.com.au/companies/news/214321/black-dragon-gold-s-positive-pea-for-spanish-gold-project-confirms-14-year-mine-life-214321.html Black Dragon Gold Corp (ASX:BDG) (CVE:BDG) has received a positive Preliminary Economic Assessment (PEA) for its Salave Gold Project in northern Spain.

Results confirmed a 14-year life of mine potential for the project at an assumed gold price of US$1,250 per ounce.

79,200 ounces of gold

Average daily mining and processing throughput is targeting 2,000 tonnes with average annual production of 79,200 ounces of gold in concentrate at an average grade of 59.7 g/t.

Key PEA outcomes include:

Pre-tax net present value at 5% discount rate ranges between US$239.2 and US$353.2 million with the base case at US$296.2 million;

After-tax net present value ranges between US$184.7 and US$273.9 million with the base case at US$230 million;

Life of mine sustaining capital cost of US$19.3 million;

Pre-production capital cost including continency of US$95.3 million

Potential for over 1.1-million-ounce production

Black Dragon CEO and managing director Paul Cronin said: “The completion of the PEA is a major milestone on the path to development of the Salave project and the metrics support our belief that Salave can potentially generate strong returns for shareholders.

“This study concludes that Salave can produce over 1.1 million ounces providing a number of marketing options for export and refining, minimising the need for additional plant and equipment, and hence reducing the project’s footprint.

“The relatively low upfront capex also opens alternative financing opportunities which will ensure that both shareholders and the local community benefit from the success of this project.”

Next steps

Black Dragon aims to submit a project description for the Environmental and Social Impact assessment later this month with additional geophysics over the entire investigation permit at the project expected for completion for April 2019.

Soil geochemistry testing on potential drill targets will be completed in June with a pre-feasibility study set for October 2019.

- Jessica Cummins 

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Sun, 10 Feb 2019 22:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214321/black-dragon-gold-s-positive-pea-for-spanish-gold-project-confirms-14-year-mine-life-214321.html
<![CDATA[News - Black Dragon Gold roars higher as first two holes at Salave deposit in Spain impress ]]> https://www.proactiveinvestors.com.au/companies/news/194376/black-dragon-gold-roars-higher-as-first-two-holes-at-salave-deposit-in-spain-impress-194376.html Shares in Black Dragon Gold Corp (CVE:BDG) surged 20% on Thursday in Toronto as it posted encouraging gold grades from early drilling at its Salave deposit in northern Spain.

The program is targeting the current resource model in a bid to confirm the presence of vertically oriented zones of high grade gold.

Results from remaining holes ...

The results today come from the first two diamond holes.

Highlights included an interval of 6.79 meters (m) with 30.27 g/t (grams per ton) gold and another of 10 meters at 13.43 g/t of the yellow metal.

"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," said chief executive and managing director of Black Dragon, Paul Cronin.

He added: "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."

Shares gained 20% to C$0.090 in Toronto.

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Thu, 05 Apr 2018 15:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194376/black-dragon-gold-roars-higher-as-first-two-holes-at-salave-deposit-in-spain-impress-194376.html