Blackrock Silver – Transformative Option On The Tonopah North Lithium Project, While Keeping Focused On Silver And Gold Exploration At Tonopah West and Silver Cloud
Andrew Pollard, President and CEO of Blackrock Silver (TSX.V:BRC – OTCQX:BKRRF), joins us to review the transformative option agreement with Tearlach Resources to develop the Tonopah North Lithium Project. Tearlach has been 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 in Nevada, upon incurring cumulative exploration expenditures of US$15,000,000 and the completion of a Feasibility study within 5 years.
Andrew discussed that this transaction allows Blackrock Silver shareholders to gain an interest in an active lithium project while allowing the Company to focus its resources on our high-grade precious metal discoveries. With one of the highest-grade undeveloped silver-gold resources in the world at the adjacent Tonopah West Project, a new bonanza gold & silver discovery at the Silver Cloud Project. We review the exploration strategy and upside potential for PMs at all 3 projects, and that there are still 20 holes pending assays from last year’s drilling at Tonopah West that will be released in the next month or two. There will be further news hitting the wires in the first quarter from Silver Cloud as well, with more follow up planned in the year to come.