Black Sea Copper & Gold (BLS.V) has now finally been issued a formal three-year license by the Bulgarian Ministry of Energy, allowing it to thoroughly explore its Kalabak property. As a reminder, the Kalabak project has a historic resource estimate of 6.2 million tonnes at an average grade of 4.04 g/t gold and just over 2.2 g/t silver, indicating there’s a decent potential to discover a larger mineralized structure over the 10 kilometer long structural trend.
In its 2016 exploration campaign, Black Sea already confirmed the existence of a porphyry-type mineralized structure based on its mapping and sampling campaign. Now the formal approval of the exploration agreement has been confirmed, Black Sea will immediately start an additional mapping and sampling program over the entire 10 kilometer length of the trend. The results of this sampling program will be used to define targets for a geophysical exploration program and a subsequent drill program.