Blackrock Silver – Exploration Update And Growing Resources At Tonapah West And New Discoveries At Tonapah North
Andrew Pollard, CEO of Blackrock Silver (TSX.V: BRC – OTCQX: BKRRF), joins us for an exploration and resource expansion update at both the Tonopah West and Tonapah North silver projects, located in Nevada. We start off discussing how the recent capital raise that was announced on Aug 4th and then upsized on Aug 6th will allow the company to double the amount of drilling planned for resource expansion at Tonapah West, especially after the successful recent 1km step-out hole hit towards the end of the most recent exploration program. Now the Company will be testing to fill in the area in between along that trend to continue expanding the resources.
We also had Andrew remind listeners of the very conservative constraints used for the maiden “stope-optimized” Resource Estimate released on May 2nd, that came in at 2.9 Million Tonnes Grading 446 g/t AgEq for 42.6 Million Ounces AgEq. This is important because in this sector we see many companies put resources with far more guessing and assumptions, and far less certainty or controls in place — the point being; the Company could have put out a larger resource, if it hadn’t opted for more conservative and concise parameters.
We also touched on the early-stage drilling at the recently acquired Tonopah North project on BLM lands, which has yielded some encouraging Lithium results, announced to the market on July 11th, as well as some high-grade silver intercepts released in news on July 14th. We discussed how their exploration team is still very encouraged but the silver results, but also that the Lithium results, on trend with other Clayton Valley lithium projects in the area, could give the company some optionality in JVing or partnering with other projects if they continue to see encouraging results.