Oleblue
2週前
BLACKROCK SILVER ANNOUNCES ADDITIONAL HIGH-GRADE SILVER & GOLD ASSAY RESULTS FROM ITS M&I CONVERSION DRILLING PROGRAM AT TONOPAH WEST
REPORTS 5.0 METRES GRADING 744 G/T AGEQ (462 G/T AG AND 3.48 G/T AU) IN ADDITION TO MULTIPLE +1K G/T AGEQ INTERCEPTS; M&I CONVERSION DRILLING PROGRAM CONTINUES TO CONFIRM HIGH-GRADE CONTINUITY OF GOLD AND SILVER
HIGHLIGHTS:
TXC24-095 returned multiple zones of high-grade mineralization including:
- 1.68 metres of 1,056 grams per tonne (g/t) silver equivalent (AgEq) (572.7 g/t silver (Ag) and 5.38 g/t gold (Au)) from 192.9 metres;
- 1.83 metres of 341 g/t AgEq (147 g/t Ag and 2.61 Au) from 196 metres;
-1.07 metres of 633 g/t AgEq (343.7 g/t Ag and 3.21 Au) from 239 metres, including 0.55 metres of 1,225 g/t AgEq (665 g/t Ag and 6.23 g/t Au)
- and 5.03 metres of 774.5 g/t AgEq (461.5 g/t Ag and 3.47 g/t Au) from 242.5 metres, including 0.76 metres of 2,245 g/t AgEq (1,362 g/t Ag and 9.8 g/t Au)
TXC24-098 returned 1.22 metres of 634 g/t AgEq (265.6 g/t Ag and 4.09 g/t Au) from 326.8 metres, including 0.3 metres of 2,480 g/t AgEq (1,034 gt Ag and 16.06 g/t Au)
TXC24-117 returned 2.01 metres of 1,783 g/t AgEq (1,141 g/t Ag and 7.13 g/t Au) from 261.2 metres, including 0.4 metres of 6,064.4 g/t AgEq (3,712 g/t Ag and 26.13 g/t Au)
VANCOUVER, BRITISH COLUMBIA, CANADA (Newsfile Corp.– November 21, 2024) - Blackrock Silver Corp. (TSX-V:BRC) (OTC: BKRRF) (FSE: AHZ0) (“Blackrock” or the “Company”) is pleased to announce the second set of assay results from the M&I Conversion Program (as defined herein) on the Company’s 100% owned Tonopah West project (“Tonopah West”) located within the prolific Walker Lane trend in Esmeralda and Nye Counties adjacent to the town of Tonopah, Nevada, USA.
The Company is completing an in-fill drilling campaign (the “M&I Conversion Program”) consisting of forty drillholes within the shallow southern portion of its’ DPB resource area with an aim to convert up to 1.5-million tonnes of material to the measured and indicated mineral resource category, with the drillhole pattern being implemented on 25-metre centers. This area represents the initial years of proposed production based on the mine plan laid out in the Company’s recently announced preliminary economic assessment for Tonopah West (see news release dated September 4, 2024).
The M&I Conversion Program commenced in late July 2024 pursuant to which the Company has completed 32 of the planned 40 drillholes. An additional 6 core holes from surface have been added to the M&I Conversion Program to follow up on high-grade intercepts encountered in TXC24-087. Pursuant to the M&I Conversion Program, a total of 10,283 metres (33,737 ft) of drilling have been completed to date and the Company has received assays for 27 of the 34 drill holes completed (see Table 1 below for all assay results received to date from this program).
Andrew Pollard, the Company’s President and CEO, stated, “Multiple high-grade zones are emerging on our Merten vein system as additional results from our ongoing M&I Conversion Program continue to increase confidence in our model. Near surface mineralization has been tracked from 137 metres down to 367 metres downhole, with each distinct zone delivering intercepts beyond 2,000 g/t AgEq while establishing exceptional continuity along the vein. Additional high-grade mineralization has been identified up-dip which appears to connect to a once thought isolated zone to the east (TW21-076: 4.6 metres grading 510 g/t AgEq). The M&I Conversion Program is targeting up to 1.5 million tonnes of material for potential conversion. Additional drillholes are being added to this fully-funded program to follow up on TW21-076. Drills are poised to remain at site through the end of the year and into Q1 2025, and with many completed drillholes pending assays, we expect to finish 2024 on a strong note.”
https://mailchi.mp/blackrocksilver/twdrillresultsoct24-10333583?e=8f5d060b32
Oleblue
3月前
BLACKROCK SILVER ANNOUNCES $5.0 MILLION PRIVATE PLACEMENT WITH
ERIC SPROTT
FOR IMMEDIATE RELEASE TSX-V Symbol: BRC
Vancouver, British Columbia – September 16, 2024 – Blackrock Silver Corp. (the "Company") is pleased to announce a non-brokered private placement (the "Offering") of 15,625,000 common shares ("Shares") of the Company at a price of $0.32 per Share for gross proceeds of $5,000,000. The Company is pleased to advise that Eric Sprott, through 2176423 Ontario Ltd., has subscribed for the entire Offering.
The Offering is scheduled to close on or about September 20, 2024 and is subject to certain conditions including, but not limited to, the approval of the TSX Venture Exchange (“TSXV”). The Shares to be issued under the Offering will have a hold period of four months and one day from the closing date. The net proceeds of the Offering will be used by the Company to fund expansion drilling on the Company's Tonopah West property, and for general working capital.
The participation of Eric Sprott in the Offering will be considered a “related party transaction” within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, is expected to exceed 25% of the Company’s market capitalization (as determined under MI 61-101).
The Company will pay a finder’s fee of 3% of the proceeds of the Offering in cash to Research Capital Corporation.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
About Blackrock Silver Corp.
Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.
Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.
For further information, please contact:
Andrew Pollard, President & CEO
Blackrock Silver Corp.
Phone: 604 817-6044
Email: andrew@blackrocksilvercorp.com
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern the expected subscription and closing of the Offering, net proceeds from the Offering and the intended use of proceeds. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; timing and amount of exploration expenditures; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the availability of funds; the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
https://mailchi.mp/blackrocksilver/sprott5?e=8f5d060b32
Oleblue
5月前
BLACKROCK SILVER ANNOUNCES DRILLING RETURNS TO TONOPAH WEST
VANCOUVER, British Columbia – June 18, 2024 – Blackrock Silver Corp. (TSXV:BRC) (“Blackrock” or the “Company”) is pleased to announce the return of drills to the Company’s Tonopah West (“Tonopah West”) project located immediately adjacent to Tonopah, Nevada, United States within the Walker Lane gold and silver mineral trend.
Blackrock has commenced the preparation of drill sites on Tonopah West for a 20,000-metre, fully-funded drill program set to commence in July 2024. The Tonopah West drill program will be completed with two core drills from Alloy Drilling, LLC and one reverse circulation (“RC”) drill from Legacy Drilling, LLC, both of which are based in Elko, Nevada.
Andrew Pollard, the Company’s President and CEO, stated “Drill pad construction is now underway for our first sustained push on the drills following delivery of our October 2023 mineral resource estimate (see October 10, 2023 news) which established Tonopah West as one of the highest-grade undeveloped large silver projects globally with 100 million silver equivalent (AgEq) inferred ounces grading 508.5 grams per tonne (g/t) AgEq1. As we look to grow and de-risk our mineral inventory, this program will be dual focused on both conversion and resource expansion. The Merten and Bermuda vein systems located at the southern edge of our DPB deposit will be the focal point for our resource conversion program as they represent our shallowest targets and would be the first structures encountered based on our conceptual underground mining plan. Expansion drilling will focus on the 1-kilometre vein corridor between our DPB and NW Step-out deposits, aiming to connect the entire 4-kilometre silver-gold system and unlock substantial tonnage potential. Major long lead project de-risking initiatives have been underway at Tonopah West since the start of the year and are expected to generate news over the coming months across such areas as engineering, hydrologic and environmental studies. Advanced metallurgical test work is well underway with results anticipated in August of this year. This multifaceted work program is poised to be our most pivotal one yet in terms of demonstrating Tonopah West’s true potential, making for an active second half of 2024.”
The RC drill is expected to complete fifty pre-collar holes ranging from 50-metres to 300-metres deep. The core drills will use the pre-collars holes to finish core tails to the target depth. The core tails will range from 80-metres to 450-metres below the pre-collar depth.
The drill program will have two main objectives over the next six months. The first objective will be to convert approximately one million tonnes of high-grade silver and gold from the inferred resource category to the measured and indicated resource category. This program will target high grades within the Bermuda and Merten vein systems which are located at the southern end of the DPB area where the veins are at their shallowest depth below the surface. Drilling will be on 25-metre centers within an area that is 270-metres in an East-West direction by 550-metres in a North-South direction. The resource conversion focus of the Tonopah West drill program is expected to consist of 41 pre-collar holes with corresponding core tails. The combined drillholes will range from 200 to 380-metres in total length. A total of 12,000 metres of combined RC and core drilling is planned for this portion of the program.
The second objective will be to connect the DPB zone to the NW target area which is approximately 1,000-metres NW of DPB. Eleven holes are planned with nine new pre-collars being completed and two existing pre-collars being used for the resource expansion portion of the Tonopah West drill program. A total of 8,000-metres of drilling is planned on widely spaced drillholes for this portion of the drill program.
In addition, the Company engaged Kappes, Cassidy & Associates (“KCA”) of Reno, Nevada to complete additional metallurgical test work on the Tonopah West vein material. A total of nine additional composites were delivered to KCA in April 2024. This material along with the twelve original composites will be used to provide additional information to refine the estimated metallurgical recoveries by zone, assist in recommending a processing plant flowsheet, processing parameters and processing capital expenditures and operating expenditures with the aim of helping to de-risk Tonopah West. The results from the metallurgical test work are expected in August 2024.
Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and approved the contents of this news release.
About Blackrock Silver Corp.
Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration company driven to add shareholder value via the drill bit. With 6.12 million tonnes grading 508.5 g/t silver equivalent at Tonopah West, and a new bonanza-grade gold discovery at its Silver Cloud project, the Company has a proven track record of exploration success. In addition to its gold and silver project portfolio, the Company is credited with a lithium discovery, the Tonopah North project. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.
For more information, please contact:
Andrew Pollard, President & Chief Executive Officer
Blackrock Silver Corp.
Phone: 604 817-6044
Email: andrew@blackrocksilver.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern, without limitation: the particulars of the Company’s anticipated drill program on Tonopah West, including the timing of commencement and completion of such drill program and the anticipated objectives and results therefrom; the Company’s objective to convert approximately one million tonnes of high-grade silver and gold at Tonopah West from the inferred resource category to the measured and indicated resource category; the Company’s de-risking initiatives at Tonopah West and the anticipated timing of the results from corresponding metallurgical test work; estimates of mineral resource quantities and qualities; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.
Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Technical information relating to Tonopah West is based on and derived from the National Instrument 43-101 technical report prepared for Blackrock entitled “Technical Report for Updated Estimate of Mineral Resources, Tonopah West Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA” effective October 6, 2023 and dated November 8, 2023 authored by Jeffrey Bickel, C.P.G. (the “Technical Report”). The Technical Report outlines 6.12 million tonnes at a block diluted grade of 242 g/t silver (Ag) and 2.9g/t gold (Au) for a total inferred mineral resource of 47,738,000 ounces Ag and 570,000 ounces Au, or 508.5 g/t AgEq for 100.04 million oz AgEq. AgEq equivalent grade is based on silver and gold prices of US$22/ounce and US$1,850/ounce, respectively, and recoveries for silver and gold of 87% and 95%, respectively.
https://mailchi.mp/blackrocksilver/drillsreturntotonopah?e=8f5d060b32
Weekly Chart
Oleblue
6月前
Blackrock Silver Announces Closing of $10.35 Million Bought Deal Public Offering, Led by Investment from Eric Sprot
VANCOUVER, British Columbia – May 29, 2024 – Blackrock Silver Corp. (TSXV:BRC) (“Blackrock” or the “Company”) is pleased to announce that it has completed its previously announced “bought deal” public offering of 32,343,750 units of the Company (the “Units”) at a price of $0.32 per Unit for aggregate gross proceeds to the Company of $10,350,000 (the “Offering”). The completed Offering includes the full exercise of the over-allotment option by the Underwriters (as defined herein) for the sale of 4,218,750 Units for proceeds of $1,350,000. Eric Sprott, through 2176423 Ontario Ltd, a corporation beneficially owned by him, participated in the Offering with a lead order of $4,000,000.
Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.48 per Common Share at any time on or before May 29, 2026.
Andrew Pollard, President & Chief Executive Officer of Blackrock, commented: “With a significant lead order from Eric Sprott, and the participation of a number of new as well as existing shareholders, proceeds from this Offering will see the drills return to Tonopah West this summer for our much anticipated resource conversion and expansion program. Roughly 20,000 metres (m) of drilling (8,000m of reverse circulation and 12,000m of core) is planned to convert inferred resources to M&I (measured & indicated) on our Merten and Bermuda veins that run along the southern edge of our DPB deposit. The program will crystalize further expansion potential across the 1km vein corridor in an effort to bridge the gap between the DPB and NW Step-out areas.”
The net proceeds from the Offering will be used for exploration, resource expansion and conversion drilling, working capital and general corporate purposes.
The Offering was completed pursuant to an underwriting agreement dated May 23, 2024 entered into among the Company and a syndicate of underwriters led by Research Capital Corporation as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, including Canaccord Genuity Corp., Red Cloud Securities Inc. and Ventum Financial Corp. (collectively, the “Underwriters”).
The Offering was completed pursuant to a prospectus supplement of the Company dated May 23, 2024 (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated August 4, 2023 (the “Base Shelf Prospectus”), in each of the provinces of Canada (except Québec), and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) and applicable state securities laws and other jurisdictions. The Offering remains subject to the final approval of the TSX Venture Exchange (the “TSX-V”). Copies of the Prospectus Supplement and the Base Shelf Prospectus are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 12,500,000 Units for $0.32 per Unit for a total consideration of $4,000,000. Prior to the Offering, Mr. Sprott beneficially owned or controlled 12,631,819 Common Shares representing approximately 5.6% of the outstanding Common Shares on a non-diluted basis. Following the completion of the Offering, Mr. Sprott beneficially owns and controls 25,131,819 Common Shares and 6,250,000 Warrants representing approximately 9.8% of the outstanding Common Shares on a non-diluted basis and 12.0% on a partially-diluted basis assuming the exercise of such Warrants.
The Units were acquired by Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
A copy of Sprott's early warning report will appear on Blackrock’s profile on SEDAR+ and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (1106-7 King Street East, Toronto, ON, M5C 3C5).
In connection with the Offering, the Company paid to the Underwriters a cash commission of $618,177 and issued to the Underwriters 1,931,805 Common Share purchase warrants (the “Broker Warrants”). Each Broker Warrant entitles the holder thereof to acquire one Common Share at a price of $0.32 per Common Share at any time on or before May 29, 2026.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.
About Blackrock Silver Corp.
Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration company driven to add shareholder value via the drill bit. With 6.12 million tonnes grading 508.5 g/t silver equivalent at its Tonopah West project, and a new bonanza-grade gold discovery at its Silver Cloud project, the Company has a proven track record of exploration success. In addition to its gold and silver project portfolio, the Company is credited with a lithium discovery, the Tonopah North project. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.
For more information, please contact:
Andrew Pollard, President & Chief Executive Officer
Blackrock Silver Corp.
Phone: 604 817-6044
Email: andrew@blackrocksilver.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the use of proceeds from the Offering, including the Company’s planned resource conversion and expansion program at its Tonopah West project, and the receipt of final approval from the TSX-V.
Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Technical information relating to the Tonopah West project is based on and derived from the National Instrument 43-101 technical report prepared for Blackrock entitled “Technical Report for Updated Estimate of Mineral Resources, Tonopah West Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA” effective October 6, 2023 and dated November 8, 2023 authored by Jeffrey Bickel, C.P.G. (the “Technical Report”). The Technical Report outlines 6.12 million tonnes at a block diluted grade of 242 grams per tonne (g/t) silver (Ag) and 2.9g/t gold (Au) for a total inferred mineral resource of 47,738,000 ounces Ag and 570,000 ounces Au, or 508.5 g/t silver equivalent (AgEq) for 100.04 million oz AgEq. AgEq equivalent grade is based on silver and gold prices of US$22/ounce and US$1,850/ounce, respectively, and recoveries for silver and gold of 87% and 95%, respectively.
Oleblue
7月前
BLACKROCK TERMINATES OPTION AND EXPLORATION AGREEMENT ON THE TONOPAH NORTH PROJECT
Vancouver, British Columbia – May 15, 2024. Blackrock Silver Corp. (TSXV:BRC) (the “Company” or “Blackrock”) announces that its wholly-owned Nevada subsidiary, Blackrock Gold Corp. (“Blackrock Gold”) has terminated the exploration and option to enter a joint venture agreement (the “Option Agreement”) dated January 9, 2023 among Blackrock Gold, Tearlach Resources Limited (“Tearlach Resources”) and Tearlach’s wholly owned Nevada subsidiary, Pan Am Lithium (Nevada) Corp. (“PAL”, and together with Tearlach Resources, “Tearlach”).
Pursuant to the Option Agreement, Tearlach was granted the option to acquire, in two stages, up to a 70% interest in the lithium minerals in certain unpatented mining claims forming a portion of the Company’s Tonopah North project (“Tonopah North” or the “Project”) in Esmeralda County and Nye County, Nevada, upon incurring cumulative exploration expenditures of US$15,000,000 and the completion of a Feasibility study within 5 years.
Tearlach failed to make a US$100,000 cash payment due April 30, 2024 and following a 10-day cure period, Blackrock Gold elected to terminate the Option Agreement.
Over the last 18 months, Tearlach completed eleven core holes that expanded the Tonopah North lithium mineralization to an area of 3.0 kilometres by 3.5 kilometres and identified multiple lithium zones with significant thickness starting at the surface in the Siebert Formation. A majority of the drillholes intersected an upper claystone unit which averages 50.3 metres thick (165 feet) and a lower claystone horizon which averages 7.6 metres wide (25 feet). The depth of younger alluvial cover overlying the upper claystone horizon is approximately 10 metres thick and ranges between 3 to 20 metres (10 to 65 feet) thick. The upper and lower lithium zones are open in all directions. The geology and lithium mineralization appear similar to the immediately adjoining TLC lithium deposit owned by Lithium Americas.
Tearlach has spent over US$1-million in exploration drilling and assays on Tonopah North since January 2023, and has added significant value and geologic understanding to the Project. In addition, Tearlach staked 37 unpatented lode claims increasing the land position from 1,636 hectares (4,042 acres) to 1,862 hectares (4,600 acres). These claims cover additional untested Siebert Formation. The claims lie within the Tonopah North area of interest and belong to Blackrock.
The Company is compiling and evaluating the results of the exploration completed on Tonopah North by Tearlach and will decide the next steps for the Project.
About Blackrock Silver Corp.
Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration company driven to add shareholder value via the drill bit. With 6.12 million tonnes grading 508.5 g/t silver equivalent at its Tonopah West project, and a new bonanza-grade gold discovery at its Silver Cloud project, the Company has a proven track record of exploration success. In addition to its gold and silver project portfolio, the Company is credited with a lithium discovery, the Tonopah North project, which is under option to a lithium exploration group. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.
Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and approved the contents of this news release.
For further information, please contact:
Andrew Pollard, President & Chief Executive Officer
Blackrock Silver Corp.
Phone: 604 817-6044
Email: andrew@blackrocksilver.com
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward-looking statements concern, without limitation: the Company’s intentions regarding Tonopah North. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, including: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Technical information relating to the Tonopah West project is based on and derived from the National Instrument 43-101 technical report prepared for Blackrock entitled "Technical Report for Updated Estimate of Mineral Resources, Tonopah West Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA" effective October 6, 2023 and dated November 8, 2023 authored by Jeffrey Bickel, C.P.G. (the “Technical Report”). The Technical Report outlines 6.12 million tonnes at a block diluted grade of 242 grams per tonne (g/t) silver (Ag) and 2.9g/t gold (Au) for a total inferred mineral resource of 47,738,000 ounces Ag and 570,000 ounces Au, or 508.5 g/t silver equivalent (AgEq) for 100.04 million oz AgEq. AgEq equivalent grade is based on silver and gold prices of US$22/ounce and US$1,850/ounce, respectively, and recoveries for silver and gold of 87% and 95%, respectively.
https://mailchi.mp/blackrocksilver/tonopahnorth1?e=8f5d060b32
Oleblue
8月前
Blackrock Silver Exercises Option to Buy Tonopah West Project
Newsfile Corp.
Wed, Mar 13, 20244 min read
In This Article:
BKRRF
-1.40%
Vancouver, British Columbia--(Newsfile Corp. - March 13, 2024) - Blackrock Silver Corp. (TSXV: BRC) (the "Company" or "Blackrock") is pleased to announce that the Company has exercised its option (the "Option") to acquire a 100% interest in the Tonopah West project ("Tonopah West") pursuant to an option agreement dated February 24, 2020 (the "Option Agreement") between the Company's wholly-owned Nevada subsidiary, Blackrock Gold Corp., and Nevada Select Royalty, Inc. ("Nevada Select Royalty"), a wholly-owned subsidiary of Gold Royalty Corp. Tonopah West consists of 101 patented and 19 unpatented lode mining claims covering mineral rights on approximately 1,380 acres (558.5 hectares) located within the historic Tonopah silver district in the Walker Lane trend of Western Nevada.
Andrew Pollard, President and Chief Executive Officer of the Company, commented: "In the four years since we first optioned Tonopah West, it has quickly emerged as one of the best silver discoveries of the decade, cementing its status as the highest-grade undeveloped large silver project in the world1, and we're excited to now complete our acquisition granting us 100% ownership of the property. With title in-hand, we are now squarely in the driver's seat to continue on our mission to quickly de-risk and advance the project through further engineering, hydrologic and metallurgic studies, while pursuing the vast resource expansion potential."
David Garofalo, Chairman and Chief Executive Officer of Gold Royalty Corp, commented, "The Blackrock team has delivered significant value with their advancement of the Tonopah West project, which has quickly become one of the most exciting precious metals projects in Nevada. We are encouraged to have continued exposure to the project through our royalty interest, and for Blackrock to continue to deliver on their strategy of unlocking the value of the project."
In connection with the exercise of the Option to acquire Tonopah West, the Company made payments to Nevada Select Royalty totalling US$3 million over a 4-year term, with a final cash payment in the amount of US$1,000,000.
Pursuant to the terms of the Option Agreement, Nevada Select Royalty retained a net smelter returns royalty (the "Royalty") on Tonopah West equal to 3.0% of the net value of all precious and base metals, products and materials of commercial value mined and removed from Tonopah West and sold by the Company. Under the terms of the royalty agreement (the "NSR Agreement"), the Company is required to pay Nevada Select Royalty an annual advance minimum royalty of US$50,000 (each, an "Advance Royalty Payment") until the earlier of the commencement of commercial production at Tonopah West or the twentieth (20th) anniversary of the effective date of the NSR Agreement. All Advance Royalty Payments made by the Company will be credited towards any future royalty payments to Nevada Select Royalty.
The Royalty also covers 64 unpatented claims staked by the Company in July 2021 which fall within the one (1) mile area of interest delineated by the Option Agreement. Such additional claims cover 1,280 acres (518 hectares) bringing Tonopah West to a total size of 2,660 acres (1076.5 hectares).
https://finance.yahoo.com/news/blackrock-silver-exercises-option-buy-101500860.html
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