VANCOUVER, BC–(Marketwired – October 17, 2016) – Black Dragon Gold Corp. (TSX VENTURE: BDG) (FRANKFURT: BCD) (“Black Dragon Gold” or the “Company“) is pleased to report that it has formally engaged Tetra Tech WEI Inc. to complete a bankable feasibility study on the Salave gold project. A great deal of the engineering studies that were completed as part of a feasibility study initiated by the Company in 2013 remain relevant and will expedite the completion of the feasibility study being carried out by TetraTech. TetraTech will ensure the accuracy and currency of the reports and studies previously carried out. The Company anticipates completion of the feasibility by the end of Q2, 2017.
The Company also reports that the updated Technical Report (“Report”) for the Salave Gold Project (“Salave”) has been completed. The Report was prepared by Mine Development Associates (“MDA”) and is an update to the previous technical report prepared by MDA in 2014. The mineral resource for the Salave project includes 944,000 Measured and Indicated ounces of gold (6.52 million Tonnes @ 4.51 g/t Au) and an additional 106,000 Inferred ounces of gold (1.08 million Tonnes @ 3.05 g/t Au). The mineral resource was calculated at a 2.0 g/t Au cutoff grade and remains open to the west and to depth (see February 6, 2014 News Release).
The report has been prepared in compliance with the disclosure and reporting requirements set forth in the Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”), Companion Policy 43-101CP, and Form 43-101F1, as well as with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards – For Mineral Resources and Reserves, Definitions and Guidelines” (“CIM Standards”) adopted by the CIM Council on November 27, 2010. The report will be filed on SEDAR and be posted on the Company’s website.
Title and rights associated with the mining concessions and investigative permits which make up 3427 hectare Salave Gold Project are in good standing and the mineral resource remains current and unchanged from the mineral resource calculated by MDA in 2014.
Douglas Turnbull, P.Geo., a qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical information disclosed in this news release.
Brian Wesson commented, “We are now fast tracking the Salave project feasibility after spending considerable time assessing and organising the data completed to date. The integrity and comprehensive nature of the data, as well as the 45 year mining license in place, allows us to move directly to feasibility from the PEA”
Signed “Brian Wesson FAusIMM”
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mineral resources that are not mineral reserves do not have demonstrated economic viability. This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.