Astur Gold Corp ATRGF

Metals & Mining Industrial Metals & Minerals

"Black Dragon Gold Corp is a Canada-based junior mining company. The company's segment is engaged in the acquisition, exploration of exploration and evaluation assets located in Spain. The firm through its subsidiary, Exploraciones Mineras del Cantabrico SL (EMC), holds an interest in the Salave Gold Property. The Salave Gold Property consists of approximately five mineral concessions totaling over 650 hectares and an investigation permit of approximately 2700 hectares."

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Post by guerreiroon Mar 02, 2019 9:35pm

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Post# 29434141

Black Dragon is not dead yet !!!!!!!!!!!!!!!!

POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR SALAVE UNDERGROUND

February 10, 2019

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POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR SALAVE UNDERGROUND

February 11, 2019 - Black Dragon Gold Corp. (ASX/TSX-V: BDG) (“Black Dragon” or the “Company”) is pleased to announce the positive results of the Preliminary Economic Assessment (“PEA”) completed on its 100% owned Salave Gold Project (“Salave” or “Project”) located in Asturias in northern Spain. The PEA is based on the recently completed Mineral Resource Estimate completed by CSA Global (See October 25, 2018 News Release). All figures are in United States Dollars unless otherwise stated.
Paul Cronin, Managing Director and CEO commented,
“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. It forms the first step in our permitting process, presenting a new optimised process on a zero- discharge basis that minimises the visual and surface impact of the project.
The robust results of this PEA underline the potential economic viability of the current Salave resource to be mined over an initial 14 year mine life, and our successful drilling campaign last year indicates strong potential for growth in mine life at Salave.
This study concludes that Salave can produce over 1.1Moz (560 kt of concentrate averaging over 59 g/t Au), 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.”

KEY PEA OUTCOMES

Pre-Tax NPV at 5% discount rate: ranges between US$ 239.2 and US$ 353.2 million with base case at US$ 296.2 million.
After-Tax NPV: ranges between US$ 184.7 and US$ 273.9 million with base case at US$ 230.0 million
Pre-Tax Internal Rate of Return (“IRR”): between 23% and 35 with base case at 28%
After-Tax Payback: 3.8 years
Pre-Production Capital Cost, including contingency: US$ 95.3 million
Life of Mine (“LOM”) Sustaining Capital Cost: US$19.3 million
Estimated Average LOM Total Cash Cost: $675-783 / ounce (oz) Au
Estimated Average LOM All-In Sustaining Costs (“AISC”): $699-807/oz

NEXT STEPS

Submission of the Project Description for the Environmental and Social Impact Assessment (“ESIA”) in February 2019;
Additional geophysics over the entire Investigation Permit at Salave – April 2019;
Issuance of the ESIA Terms of Reference in June 2019;
Soil Geochemistry testing on potential drill targets – June 2019;
Pre-Feasibility Study – October 2019.

More detail available here.