Black Dragon Gold Corp. said Oct. 18 that its new board agreed to a revised strategy for realizing the value of the company's Salave gold project in Spain.
The company will form a Spanish management team for its Exploraciones Mineras del Cantabrico SL unit to actively work with regulators, key stakeholders and the local community to agree on acceptable options for project development.
Black Dragon will also identify potential partners for the development of Salave that can bring additional expertise and technology and make a capital contribution.
A detailed review of past exploration activity and associated data will be undertaken to identify new opportunities for expansion and grade increases of the current known resources.
Additionally, options for the mining and processing of the Salave resource will be evaluated along with key stakeholders to identify opportunities for reduced capital and operating costs.
In July, the company raised C$8.6 million to restart exploration at Salave and appointed a new board.