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Vancouver, British Columbia--(Newsfile Corp. - July 19, 2021) - Blackrock Silver Corp. (TSXV: BRC) (the "Company") announces that it has increased its land position to the north and west of the existing patented lands. The Company has staked an additional 260 unpatented lode mining claims covering approximately 21 square kilometres, more than tripling our land position within this prolific mining camp.
The claims cover the northwest extension of the Pittsburg-Monarch fault system, an area known to have the thickest veins in the Tonopah district and are directly associated with this structural zone. Historic underground stopes along the Victor vein were up to 24 metres where the vein intersected the fault. Blackrock has confirmed this with RCV drillhole TW20-001 cutting 965 g/t silver equivalent over 29 metres, which was later followed up with core drillhole TW20-061C, which cut 18.5 metres grading 295 g/t AgEq, including 1.52 metres of 1,791 g/t AgEq (Ag/Au = 100:1) (see news releases dated July 20, 2020, and January 14, 2021).
A similar scenario at the Ohio vein occurred where stopes were up to 14 metres thick where the Ohio vein intersected the Pittsburg-Monarch fault system.
In addition to securing the extension of one of the major structures within the district, the claims cover a pediment area on the north side of the district where an east-west structural zone has been identified and mapped with similar geology to the Tonopah West project.
Andrew Pollard, President & CEO, commented, "With a year and nearly 80,000 metres of drilling now under our belts, our understanding of this legendary mining camp continues to sharpen, significantly expanding the potential for this project and our shareholders. With ten high-grade veins now established representing a cumulative strike in excess of six kilometres, and as we march toward delivery of our maiden resource estimate, due in November, we continue to look for possibilities for further discoveries. By more than tripling our current land position along such a key structural zone within this storied district, it represents a coup for us and we're excited to get to work refining drill targets."
Initial work will consist of detailed ground mapping, gravity and magnetic geophysical surveys to refine the drill targets.
Figure 1: Tonopah West Project New Claims and Target Location Map.
To view an enhanced version of Figure 1, please visit:
Blackrock's exploration activities at the Tonopah West Project are being conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock Silver Corp. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.
In addition, the Company announces that it has awarded under its Restricted Share Unit Plan of an aggregate of 335,000 restricted share units ("RSUs") to its directors and officers. Each RSU entitles the recipient to receive one common share of the Company, or a cash payment equal to the equivalent for one common share of the Company on vesting as to one-third on each of the first, second and third anniversaries of the date of grant.
RSU awards are subject to all necessary regulatory and shareholder approvals.
About Blackrock Silver Corp.
Blackrock is a junior gold-focused exploration company that is on a quest to make an economic discovery. Anchored by a seasoned Board, the Company is focused on its Nevada portfolio of properties consisting of low-sulphidation epithermal gold & silver projects located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.
For further information, please contact:
Andrew Pollard, President & CEO
Blackrock Silver Corp.
Phone: 604 817-6044
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern the Company's strategic plans, completion and exercise of the Tonopah option agreement, timing and expectations for the Company's exploration and drilling programs, 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 the risk factors including the ability of the Company to complete the Tonopah lease option, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90534