Black Dragon Gold Corp. announced its entry into gold exploration in Western Australia through the acquisition of both the Padbury Gold Project and Ivan Well Project in the highly prospective Yilgarn Craton area .
The acquisition will be completed by purchasing 100% of private company, Marlee Gold Pty Ltd. . It forms a key part of the Company's strategic growth plans, providing Black Dragon with a quality exploration portfolio to complement its flagship Salave gold project in northern Spain. The acquisition delivers 100% interests in three highly prospective exploration permits in the Yilgarn Craton region of Western Australia to Black Dragon, covering an area of 481km 2.
Perth-based Black Dragon Managing Director Mr. Gabriel Chiappini says the most compelling reason for completing the deal was the existing discovery of surface gold.