Dragon Mining boosts gold exploration footprint near Svartliden mine in Sweden
Nordic gold producer Dragon Mining (ASX: DRA) continues to progress operations in Sweden, and updated the market on the Harpsund Joint Venture - where Dragon can earn up to 80%.
Dragon will advance to the first earn-in phase of the joint venture with Swedish explorer Botnia Exploration AB, further to expending around A$220,000 (SEK 1.5 million) during the exclusivity period.
A detailed airborne magnetic survey over the northern Exploration Permit holding and Harpsund has already delivered some areas of interest for Dragon, with programs already being planned to follow-up the encouraging results including 2.0 metres at 14.03 grams per tonne (g/t) gold from shallow reconnaissance drilling.
Where the joint venture becomes even more interesting is the strategic location, situated just 4 kilometres north-east of the company's Svartliden Gold Mine.
Svartliden is an open pit mining operation with ore processed on site through a carbon in leach plant, with first production in March 2005. By 30 September 2011 the operation had processed 2.65 million tonnes at 4.55g/t gold for 273,674 ounces of gold.
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