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
If you have any follow up questions for Andrew regarding Blackrock Silver, then please email us at Fleck@kereport.com or Shad@kereport.com.
- For full disclosure, Shad is shareholder of Blackrock Silver.
Click here to visit the Blackrock Silver website to read over the recent news we discussed.
Much appreciated Marty.
Two forks stopped silver for the last 3 days yet silver still managed to close above the 50 day MA for each of those 3 days.
Matthew and Ex,
Do you consider at all the monthly long term candle on impact silver “ Doble Top” or M pattern to complete its course?
The reason I ask is that I’m not on the side of Gary savage to rip right through the double top in gold that quick! I have been clear on gold in regards to monthly candle march and April green. Nailed the march but strongly feel we have a cross candle or bear candle in April and 80% breakout in gold im July or august. If so that M pattern needs to complete and would be in line with a double bottom around .14 or even lower before the massive turn.
I have raised capital not only for impact but three others that have buy orders. I’m with doc here another down side ways and finally up.
I have not chimed in really nothing to spark about as of yer in a long term buy.
.14cents on impact sounds good. Why not as good a number as any other.
This might be hard for some to believe but the bullish setup I’ve been watching is still intact and is now in very good shape. I don’t follow Gary Savage but it seems like he and I are in agreement based on your info but I am more bullish the miners and silver than gold.
IPT has finished higher for the last 3 weeks and will probably be on its way if it can finish higher this week. That means closing Friday at just .30 or above. Conversely, closing this week below .245 would begin to open the door to your target.
Hi Glenfidish. As far as IPT – Yes, I think the longer term “M pattern” where it double topped around $1.08-$1.10 has now worked off the rest of that downside on right side of the pattern (with some initial support down around $.24-$.25). I’m not really expecting a pullback down anywhere under $.20 at this point, so I’d be very surprised to see IPT go back down to $.14 (although if some really bad news hit then anything is always possible in mining… as it is chock full of risks). I’m banking that their exploration upside is still going to surprise some this year, and last year was slower on news as far as exploration than I was expecting, [not that it would have mattered though as 2022 was a tough year even for companies putting out solid drill news].
At this point, even if we do see some more downside pressure in Impact Silver, then I’m just holding through it, and have accumulated my full position in IPT at this point (it is one of my larger silver producer positions and silver stock positions in general on a portfolio weighting). While it would definitely be attractive to add more IPT a little bit lower, I’ll likely fortify other mining stock positions instead on any sector pullbacks, as there are other positions I’d still like to beef up my exposure to.
Want to make it clear that gold did bottom in 2022 4th quarters and so did miners buy some still looking to retest bottom or even go lower clearly shows.
Good luck to all!
Yep, agreed Glenfidish…. about the bottom being in for the metals and mining stocks the end of last year.
Silver at $17.40 in early Sept, GDX and GDXJ made their lows in late Sept (the 26th? … just doing it from memory), and Gold put in it’s final low @ $1618 on Nov 4th.
It would be very surprising to see new lows put in under those figures from last year, or even a retest that gets anywhere close to those numbers in my outlook. I know many still think they’ll get back-tested, but I’m not so sure about that and feel like the snap back move higher with such velocity in the PMs negated that needing to happen. We are more in the pattern of making higher lows and higher highs on the metals charts and ETF charts at this point on the medium to longer term picture.
Thank you both Ex and Matthew! Getting your perspective adds to an arsenal of tools one uses. I agree on the .30 weekly close as well.
Well conducted interview and equally thorough response. You’re both GEMS.