Market Movers: Blackrock Gold Corp Soars On Assay Results of 2,198 G/T Silver Equivalent
Blackrock Gold Corp (TSXV: BRC) is one of today’s largest movers and shakers, having traded over 3.42 million shares on the results of recent assays conducted at its 100% owned Tonopah, Nevada property. The equity soared as high as $0.84, before settling currently at $0.70 at the time of writing, a price movement of 62.8% from the previous close.
The move comes on the back of the company reporting assays that consist of a highlight of 2,198 grams per tonne of silver equivalent over three meters found at its Tonopah West project. The result was based on a 400 g/t silver equivalent cut off grade, with a silver to gold ratio of 100:1 being present in the assay. The same drill hole also extended a vein by 30 metres down plunge, intersecting 965 g/t silver equivalent over 29 meters, while also intersecting two previously unknown veins.
Drilling at the project remains ongoing, with results only from the single hole being reported, out of a total of six completed holes. A core drill is now being mobilized to site as a follow up to the results from the first drill hole, while drilling is currently ongoing at three other targets. The core drill, anticipated to arrive in August, will conduct a program 1,000 to 2,000 metres in length that is currently in the design phase.
Meanwhile, assays are currently pending from holes two and three, which are said to have also intersected vein material with black sulphides on the same target. Those assays, if positive, will extend the zone down plunge an additional 170 metres.
Collectively, the four targets are estimated to have a total of 2.5 million to 6 million tonnes with an average grade of 1300 to 2100 g/t silver and silver equivalent. Blackrock Gold has yet to establish a mineral resource however due to not enough exploration having been conducted on the property.
Blackrock’s Tonpah West project consists of one of the largest claims package in the silver district of Tonopah, the second largest silver district in Nevada. The property is said to consist of 97 patented and 17 unpatented claims in the region, which covers a total of 1,100 acres.
The property was previously mined in several locations, from 1900 to 1950, with peak production nearing 450,000 ounces per year of gold equivalent. The Victor vein, which produced today’s outstanding results, was 24 metres thick when production ceased all those years ago.
Blackrock Gold Corp last traded at $0.70 on the TSX Venture.
Information for this briefing was found via Sedar and Blackrock Gold Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
