Dragon drills new gold zone

THE DRILL SERGEANT: Dragon Mining has discovered a new zone of mineralisation at its Svartliden gold mine located in northern Sweden, 700 kilometres north of Stockholm.


Dragon Mining project locations. Source: Company release

The discovery came with the first three diamond drill holes the company drilled approximately 800 metres east of the open pit at Svartliden at the Far East target intersecting gold mineralisation.

The company has received assay results from the three holes, which are part of a six hole program designed to follow-up promising geology identified from earlier drilling in the Far East area.

According to Dragon Mining each of the three holes intersected material it claimed to be characteristic of the Svartliden host sequence.

The best intersection returned from the drilling so far:

–    6.0 metres at 6.69 grams per tonne gold at a vertical depth of approximately 350 metres below surface.

Results for the other holes are pending.

The Far East target was identified through an ongoing program of geological and geophysical modelling of the near mine area.

One it has completed the current campaign, Dragon’s planning of the next phase of drilling will commence with the stated objective to better define the extent and geometry of the identified mineralisation.

“The discovery of mineralisation and the strong intercept at the Far East target is extremely encouraging for the company,” Dragon Mining executive chairman Peter Cordin said in the company’s announcement to the Australian Securities Exchange.

“The Far East target is just one of a number of near mine areas to be evaluated over the coming months, as the company strives to extend the life of the Svartliden mine.”