Blackrock Silver to acquire Tonopah East claims, Nevada
Blackrock Silver Corp.’s [TSXV: BRC; OTCQX: BKRRF; FSE: AHZ0] wholly owned Nevada subsidiary, Blackrock Gold Corp., has entered into a purchase agreement with Nevada Select Royalty Inc., a wholly owned subsidiary of Gold Royalty Corp., under which Blackrock Gold will acquire a parcel of 146 unpatented mineral claims (the Tonopah East) located along the eastern margin of the Fraction caldera within the Walker Lane trend of west-central Nevada.
The Tonopah East project covers a significant portion of the eastern margin of the Fraction caldera, which is known to host silver and gold in the historic Tonopah mining district and at Blackrock’s Tonopah West and Tonopah North projects. The Tonopah East project adds 12.1 km2 to the company’s existing 26.6 km2 bringing the total to just shy of 39 km2 of land owned along the silver-dominated Fraction caldera margin.
The Fraction caldera is based on recent work completed by the United States Geological Survey (USGS) on the Tonopah mining district.
Under the terms of the purchase agreement, Blackrock Gold will acquire the Tonopah East project and any data in respect of such Tonopah East from Nevada Select in consideration for a cash payment of US$48,344.37 (plus the payment of any federal annual mining claim maintenance fees paid in respect of the Tonopah East by Nevada Select for the annual assessment year ending September 1, 2027). In addition, Blackrock Gold has agreed to grant Nevada Select a 3.0% net smelter returns royalty on any future production on Tonopah East.
Andrew Pollard, president and CEO of Blackrock, commented: “The Tonopah district produced 174 million ounces of silver and 1.8 million ounces of gold1 from a four-km trend, and the main structural control on that mineralization is the Fraction caldera margin. With the addition of Tonopah East, we now command the leading land position around it.
“This acquisition grows our holdings by roughly 45%, on prospective ground directly along that margin, about five km from our planned mill and process plant. As Tonopah West advances through development, a land package of this quality within hauling distance gives us the opportunity to broaden our exploration focus over time, and to see the full potential of the Tonopah district realized.”
The closing of the transactions contemplated by the purchase agreement, including the purchase and sale of the mineral claims thereunder, is anticipated to occur on or about September 30, 2026, or such other date as mutually agreed to by the parties.
Blackrock Silver is an American-focused emerging primary silver developer systematically advancing the high-grade Tonopah West Project in west-central Nevada.