Blackrock Silver – Cashed Up With Exploration Strategy For Tonopah North, Tonopah West, and Silver Cloud
Andrew Pollard, President and CEO of Blackrock Silver (TSX.V:BRC – OTCQX:BKRRF), joins us to outline the recent capital raise and the exploration strategy for those funds raised at the silver and gold focused projects of Tonopah West and Silver Cloud, as well as the Tonopah North Lithium Project. We start off unpacking the recently closed private placement for aggregate gross proceeds of C$4,385,166 consisting of 11,851,800 units of the Company at a price of $0.37 per Unit; where each Unit is comprised of one common share of the Company and one-half of one (1/2) Common Share purchase warrant at $0.50 until March 17, 2026.
We then moved the conversation into the exploration on tap for this year, starting with the Tonopah North Lithium Project. Tearlach Resources, earning in as option partners on this Project, have drilled 6 diamond core holes, rushing 2 of them at the assay labs, and still awaiting all the assays to report in the near future. Andrew highlights 2 other lithium companies nearby, along the same mineralized trend in Nevada, with key upcoming catalysts, that highlight where the valuation of this lithium mineralization could grow over time if the mineralization is of a similar nature.
Next, we discussed the news announced last month, that it is finalizing drill plans and permitting drill sites for a Phase 1 drill program at its bonanza-grade discovery drillhole in Northwest Canyon on the Silver Cloud Project. The initial plan is to drill 2,000 meters starting in April, stepping out from the discovery made last year. Additionally on the exploration side, we highlight the 4,000 meters of drilling planned after that, later in the summer at the company’s flagship Tonopah West Project. With one of the highest-grade undeveloped silver-gold resources in the world, the goals will be to not only grow the resource through more drilling, but also a better interpretation of the prior drill holes and vein orientation, that will all be working towards an updated mineral resource early next year. There will be plenty of exploration news hitting the wires over the months to come from all 3 projects
- For full disclosure, Shad is shareholder of Blackrock Silver.