Black Dragon Gold Announces Extension Of Mining Permits

  • Dec 05, 2018 AEDT
  • Team Kalkine
Black Dragon Gold Announces Extension Of Mining Permits

Black Dragon Gold flags the winning of permit extension granted by the Government of Asturias, Spain.

In the ASX announcement dated 5 December 2018, Black Dragon Gold Corp. (ASX: BDG) announced that its Ampliacion a Figueras Mining Permit has now been extended to 30 years and its Salave Investigation Permit has achieved three years extension by the Government of Asturias.

The extension of the permits was one of the major milestones for the company to go ahead with its expansion program following the recent drilling results. The permit covers over 2,765 hectares primarily to the south of the current Salave deposit. So far, the company has not undertaken any significant exploration activity in this area. 

Black Dragons CEO & Managing Director Mr. Paul Cronin said that the extension of the mining permits will allow it to expand its exploration program at Salave.

Located in the Asturias province of Northern Spain, Salave Gold Project is one of the leading undeveloped gold projects in Europe. It is 100% held by Black Dragon through its subsidiary Exploraciones Mineras del Cantabrico SL (EMC). The current mineral resource at Salave is confined to a 25ha area, and the existing Investigation Permit offers the company to explore over 2,765ha of unexplored ground.

Mr. Cronin stated that the improved geological dataset of the company will allow it to keep the track of other potential deposits in the highly prospective region of Spain.

Black Dragons is dually listed mining company based in Canada. It got listed on Australian Securities Exchange in August 2018. The shares of Black Dragon Corp traded flat in today’s trade, i.e. 5 December 2018. But it has been seen that 188,667 shares exchanged hand in today’s trading session. BDG last traded at $0.115 with market capitalization of $12.75 million.

We can see that Black Dragon shares are continuously trading at lower levels. The stock has fallen by 42.50% in three months and in the past one month it has been down by 20.69%.


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