Vancouver, British Columbia–(Newsfile Corp. – April 27, 2020) – Blackrock Gold Corp. (TSXV: BRC) (the “Company“) announces exploration plans for its 100% controlled Tonopah West project located in the Walker Lane trend of Western Nevada. The project is a significant landholding within the historic Tonopah silver district with 97 patented and 17 unpatented lode mining claims comprising the property. Blackrock closed the lease option to purchase Agreement on April 1st. The transaction reconstitutes the historic Tonopah Extension Mining and the West End Consolidated Mining Companies’ land positions into the Tonopah West project amassing the largest package of claims in the district since Howard Hughes controlled the entire camp in the 1960’s.
The Tonopah silver district produced 174 Mozs of silver and 1.8 Mozs of gold from 7.45 million tonnes of material. Blackrock’s consolidated land position yielded 2.1 million tonnes of the total Tonopah gold and silver production making the combined area the second largest producer by tons and gross dollar yield[1].
Over the past several months, Blackrock’s geologic team has been reviewing the historic underground mining maps and assay data and consolidating the information in GIS and Leapfrog software. The data compilation is assisting in the selection and prioritization of drill targets. The Company is pleased to outline an initial drill campaign totalling 7,035 metres of drilling in 17 reverse circulation drillholes contemplated to commence in June.
Andrew Pollard, President & CEO stated “It’s truly amazing to me that right in the heart of the “Silver State” of Nevada, that one of the largest historic silver endowments in North America has been hiding in plain sight, largely untouched by modern exploration for the better part of 80 years. Due to the prolonged fractured nature of the claims that makeup what was known as the “Queen of the Silver Camps”, one of the most significant high-grade mining districts in Nevada has been completely overlooked for decades. Our initial program is targeting low-hanging exploration fruit, picking up right where past miners left off, with well-defined veins that were up to 24m thick when operations ceased. We’ve outlined a large program as all of the targets we’ve compiled are priority and as we’ll be using RC drilling, we’ll be able to work quickly and cost effectively as we aim to bring attention back to this storied district.”
Four broad target areas have been defined which have the potential ranging from 2.5 million to 6 million tonnes with an average grade ranging from 13 to 21 g/t gold and gold equivalent. The potential quantities and grades of the target zones set out below are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain whether further exploration will result in the targets being delineated as mineral resources. The target zones are as follows:
- On the northern portion of the property at the Victor shaft, the underground workings encountered a high-grade vein on the 1880 level that had widths up to 24 metres. The target is the thick, high-grade vein below the 1880 level. The potential target ranges from 0.5 million to 1 million tonnes averaging 15 to 20 g/t gold and gold equivalent. Five drillholes totalling 2,750 metres are proposed to test the down dip portion of the vein system as well as test 800 metres of strike potential to the west. ;
- Through the KcKane shaft, three veins, Denver, Paymaster, and Bermuda/Merton, were mined from 1200 to the 1880 level. Geologic and assay reports indicate additional mineralization down dip and along strike. Five drillholes totalling 2,350 metres will target the veins along strike and down dip in the Mizpah and West End Ryholite lithologies. An area with potential ranging from 1 million to 3 million tonnes averaging 10 to 15 g/t gold and gold equivalent is the target;
- A new discovery was made using RC drilling in 1997 (7.5 g/t gold and 288 g/t silver over 3 metres). Follow-up drilling in 2018 cut two 1.5 metres zones grading 9.7 g/t gold, 715 g/t silver and 4.6 g/t gold, 401 g/t silver. This zone is within the same stratigraphic package as the Ohio vein located 1.5 kilometres to the east and may represent a similar flat-lying vein with a similar potential target ranging from 0.5 million to 1 million tonnes averaging 15 to 30 g/t gold and gold equivalent. An initial program of four drillholes totalling 1,185 metres is planned; and
- Three drillholes totalling 750 metres are planned adjacent to the southeast portion of the property where the flat-lying Ohio vein was mined from the Ohio shaft. No geologic work to find the off-set portion was completed and the potential exists for the strike extension of the Ohio vein. The vein dips 20 degrees to the south, and the potential target ranges from 0.5 million to 1 million tonnes averaging 15 to 30 g/t gold and gold equivalent.
Figure 1: Tonopah West Project target map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/676/54872_3eb86291d491da66_002full.jpg
Because the bulk of the land holdings are comprised of patented lands, no drill permitting is required for disturbance less than 5 acres.
Blackrock’s exploration activities at the Tonopah West Project are being conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock Gold 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.
About Blackrock Gold 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 consisting of low-sulphidation epithermal gold & silver projects located along on 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 Gold Corp.
Phone: 604 817-6044
Email: andrew@blackrockgoldcorp.com
Forward Looking Statements
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 undertainties 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.
[1] All historic production information from Nevada Bureau of Mines & Geology, Bulletin 51
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