Mining Intelligence and News
Spain

Salave Project

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Categories

Overview

Mine TypeUnderground
StagePermitting
Commodities
  • Gold
Mining Method
  • Vertical Crater Retreat
  • Sub-level stoping
Backfill type ... Lock
Mine Life... Lock
SnapshotThe Salave project is one of the largest undeveloped gold projects in Europe.

Black Dragon Gold Corp. submitted its final Environmental Impact Assessment for the property during 2022 and is awaiting a response from the Asturian Government. During financial year to date 2024 Black Dragon continued to progress and de-risk the permitting and development of the Salave Gold Project.

In April 2024, after extended consultations, the Tapia de Casariego Town Council began assessing Black Dragon’s re-submitted application to change the land use designation from agricultural to industrial for mining. This requires review by the Council’s planning department and an environmental assessment by the Principality of Asturias. Whilst separate to the Project’s main EIA, which was filed with the Principality in July 2021, this re-zoning application is considered as a condition to the issuance of the EIA.

Owners

SourceSource
CompanyInterestOwnership
Black Dragon Gold Corp. 100 % Indirect
Black Dragon Gold owns 100% of the Salave gold deposit through its wholly owned Spanish subsidiary, Exploraciones Mineras del Cantabrico S.L.

Contractors

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Deposit type

  • Vein / narrow vein
  • Intrusion related

Summary:

Gold mineralisation at Salave is related to hydrothermal alteration of the host granodiorite. The highest gold grades are associated with intense albite-sericite alteration with fine-grained arsenopyrite, commonly disseminated as fine needles, pyrite and stibnite. Destruction of the original texture is a major feature of the most intensively altered and mineralised granodiorite. Quartz veins, and quartz-carbonate molybdenite-bearing veins present in the deposit do not contain gold and represent a separate mineralising event.

BDG consider the Salave deposit to be an intrusive related gold deposit with similarities to other intrusions related gold deposit models including Fort Knox, Pogo and Donlin Creek in Alaska and Telfer and Boddington in Western Australia.

The Salave gold deposit is hosted mainly by the strongly altered Salave granodiorite at its western boundary, close to the contact with the Los Cabos sedimentary sequence.

Most of the gold mineralisation has been delineated within an area 400 m wide, 500 m long and 350 m deep. Gold mineralisation occurs in a series of stacked, north-to-northwest trending, shallowly southwest dipping irregular lenses related to faults and fracture zones that are parallel to the contact of the intrusive and metasedimentary rocks. The faults and fracture zones appear to be related to one or more vertical structures some of which contain high-grade gold mineralisation. These structures may play an important role as conduits and opening shallow dipping structures with subsequent deposition of hydrothermal solutions, particularly at the contact with the metasediments.

Previous explorers noted that the attitude of the sheeted alteration-mineralisation zones mirrors that of the overlying metasedimentary rocks. In places, these lenses may be sub-horizontal. The dimensions of the individual mineralised zones range from 50 m to 300 m in length, 10 m to 150 m in width, and 5 m to 60 m in thickness, with an average thickness in the order of 20 m. Narrow zones of gold mineralisation are also present within the Los Cabos metasedimentary rocks, possibly reflecting later reactivation and leakage.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Gold Concentrate kt 560
Gold Metal in concentrate koz 791,108

Operational metrics

Metrics
Daily ore mining rate 2,000 t *
Daily milling rate 2,000 t *
Annual ore mining rate 656.3 kt *
Annual milling capacity 0.7 Mt *
Ore tonnes mined, LOM 9.19 Mt *
Tonnes milled, LOM 9.19 Mt *
* According to 2019 study.

Production Costs

CommodityUnitsAverage
Cash costs Gold USD 729.15 / oz *  
All-in sustaining costs (AISC) Gold USD 752.8 / oz *  
Assumed price Gold USD 1,250 / oz *  
* According to 2019 study / presentation.

Operating Costs

CurrencyAverage
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2019 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ........... Subscription required ........... Subscription required Subscription required Nov 14, 2024

Aerial view:

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