Blackrock Silver reviews 2024 work plans for Tonopah West, Nevada
Blackrock Silver Corp. [TSXV-BRC] provided the following corporate review. 2023 proved to be a pivotal year for Blackrock, with its flagship Tonopah West project, Nevada, stepping into the spotlight as one of the preeminent silver deposits in the industry having surpassed 100M AgEq (silver equivalent) ounces at a block diluted grade of 509 g/t AgEq following delivery of its latest mineral resource estimate (MRE) in October.
Less than four years from the initial discovery hole, Blackrock has delivered two mineral resource estimates, rapidly creating intrinsic value at the project level with the latest MRE seeing ounces increase by 2.36X and grade improve by 14%.
Further expansion potential requires no leaps in logic, with “step-in” drilling along the vein corridor easily conveyed that will seek to connect the 3 deposit areas together as one cohesive silver-gold system spanning over 4 km while also remaining wide open along strike to the northwest and at depth. The company has overseen one of the largest new silver discoveries of the last decade and has cemented Tonopah West’s position as the highest-grade undeveloped large silver-rich project in the world.
In addition to high grades and significant size potential, another clear differentiator of Tonopah West is the straightforward metallurgy. All of the historic production from the Tonopah silver district was from a doré produced at site. Kappes and Cassidy and Associates from Reno, Nevada, completed our initial test work which lines up very well with historic reports, with recoveries averaging 95% for gold and 87% for silver, with no need envisioned for costly extra steps to create a lead/zinc concentrate or requiring the involvement of a smelter.
With the resource situated entirely on patented claims in Nevada, the Tonopah West project has a streamlined process with the State of Nevada for exploration, development and construction applications and approvals.
The company is in the process of finalizing its 2024 plans that are to be duel focused on both resource expansion and the continued de-risking of the project. Further infill drilling is planned to link the deposits as one, and engineering and hydrologic studies are already underway, all of which will form the basis for a maiden preliminary economic analysis anticipated in 2025.
At Silver Cloud, the company made a bonanza-grade gold and silver discovery at the Northwest Canyon target. The follow-up of the discovery intercept (70 g/t gold and 600 g/t silver over 1.5 metres) was initiated in 2023.
In 2023, the company completed an Exploration and Development Agreement on Tonopah North. Partner Tearlachi s spending their money to explore for and develop a lithium deposit on Blackrock landholdings, and shareholders will control 30% of a potentially large lithium resource if the partner is successful.
With 6.12 million tonnes grading 508.5 g/t AgEq at its Tonopah West project, and a new bonanza-grade gold discovery at its Silver Cloud project, the company has a proven track record of exploration success.
In addition to its gold and silver project portfolio, the company is credited with a lithium discovery, the Tonopah North project, which is under option to a lithium exploration group. The company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.