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Drill hits included 4.4m grading 41.9 grams per tonne gold, 12m at 25.8gpt and 12.6m at 18.1gpt.
"This confirms the potential for significant exploration upside to Salave's existing measured and indicated resource of 6.52 million tonnes at 4.51gpt, for 944,000 ounces of gold," Black Dragon said.
The drilling was undertaken ahead of scoping work on a new underground mine plan.
Black Dragon has been listed in Canada on the TSX-V since last decade, with new management adding the ASX listing last month.
Black Dragon's chairman is former UBS analyst and investment banker Jo Battershill, while the MD is "unique resource finance specialist" Paul Cronin - ex Anatolia Energy.
Shares in Black Dragon were up 8% to 20c in morning trade, capitalising the company at $22 million
