Blackrock Gold (TSX-V:BRC), soon to be Blackrock Gold & Silver (given recent drill results at Tonopah West), announced high-grade gold/silver intersections in hole TW20-006 into the Paymaster Vein, including 1,577 g/t silver equivalent (AgEq) over 4.6 meters including 3.0 meters grading 2,215 g/t AgEq, AND a second vein yielding 1.5 meters of 1,670 g/t AgEq.
Hole TW20-007 intersected a previously unknown vein and returned 1.5 meters grading 387 g/t AgEq, and hole TW20-008 returned 562 g/t AgEq over 1.5 meters from the steeply dipping Discovery Vein.
The following section map helps to illustrate what Blackrock is finding, and more importantly, the number of ounces that Blackrock could prove up by infill drilling between these veins along strike:
What has Blackrock really excited is what the company is calling the “DPB Zone” for Denver, Paymaster, Bermuda Veins. The DPB Zone is where Blackrock has just stepped out 800 meters to the northwest, with the idea of eventually infill drilling back to the east if the step-outs hit. The DPB Zone is envisioned to contain from 1 million to 3 million tonnes averaging 1000 to 1500 g/t silver and silver equivalent. This could make the DPB Blackrock’s largest target zone at Tonopah West.
Blackrock is approaching 10,000 meters of drilling in 19 RC and 2 core drillholes across the Victor, DPB, and Discovery targets. This initial program, originally slated to consist of 7,000 meters of drilling, has been expanded to 20,000 meters following this summer’s success in holes 1 through 8.
Assays are pending for many holes including the 800 meter step-outs in the DPB Zone.
The BRC chart shows a high & tight bullish consolidation and today’s news couldn’t come at a better time, just as the Daily-RSI(14) was testing the median line from above:
It’s always impressive when a junior can vault from $.03 to $1.50+ and then consolidate in a relatively tight range while holding most of its gains. BRC has done just that.
As I was mentioning in the Trading Lab yesterday, the strongest stocks (such as ELO.V and GBR.V) don’t pull back much and mostly correct through time. If we wait too long we will be left waiting at the train station while these stocks take-off yet again. BRC might be about to embark on its next trip higher.
Disclosure: Author owns shares of Blackrock Gold BRC.V at time of publishing and may choose to buy or sell at any time without notice.
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