Proactiveinvestors USA & Canada Blackrock Gold Corp. https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Blackrock Gold Corp. RSS feed en Thu, 20 Jun 2019 08:09:59 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Blackrock Gold's CEO feels Teck and Placer may have underestimated project ]]> https://www.proactiveinvestors.com/companies/stocktube/13708/blackrock-gold-s-ceo-feels-teck-and-placer-may-have-underestimated-project-13708.html Wed, 12 Jun 2019 09:33:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13708/blackrock-gold-s-ceo-feels-teck-and-placer-may-have-underestimated-project-13708.html <![CDATA[News - Blackrock Gold outlines path to full ownership at Silver Cloud project with amended lease terms ]]> https://www.proactiveinvestors.com/companies/news/221412/blackrock-gold-outlines-path-to-full-ownership-at-silver-cloud-project-with-amended-lease-terms-221412.html Blackrock Gold Corp (CVE:BRC) is hailing an amended agreement on its Silver Cloud project in Nevada that will allow the company to save nearly US$175,000.

In a note to investors on Monday, the junior explorer said it had renegotiated its lease agreement with Pescio Exploration LLC on 552 mining claims in Elko, Nevada.

The new terms reduce Blackrock’s initial payments to Pescio by $25,000 in 2019, and $50,000 per year from 2020 to 2022. Additionally, the revised agreement includes a full buyout option for Blackrock on Silver Cloud.

READ: Blackrock Gold unveils plans for Silver Cloud exploration

In return, Blackrock agreed to extend its commitment on the project through at least 2022 and a small reduction to the existing royalty buydown, it said in a statement. The company also agreed not to credit cumulative lease payments against future royalty obligations.

Calling the new changes a “major win” for Blackrock and its investors, CEO Andrew Pollock said that the addition of a buyout option is the first granted on this project since it was staked in 1999 and subsequently leased to Teck. "We now stand to save millions of dollars in upfront, out of pocket, and perpetual costs, should we elect to exercise,” he added.

This buyout option affords Blackrock the opportunity to “control its own destiny,” Pollock said, should exploration efforts prove fruitful, and provides added certainty to investors now that the junior company has a defined path to ownership.

The agreement also includes a provision for Blackrock to conduct a minimum of 25,000 feet of drilling at Silver Cloud by October 2022, otherwise the company will be subject to a penalty amounting to $50 per foot of undrilled footage.

Blackrock’s shares slipped 5.3% at C$0.09 on Monday morning in Toronto, and 18.1% on OTC markets to US$0.06.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

 

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Mon, 03 Jun 2019 10:49:00 -0400 https://www.proactiveinvestors.com/companies/news/221412/blackrock-gold-outlines-path-to-full-ownership-at-silver-cloud-project-with-amended-lease-terms-221412.html
<![CDATA[News - Blackrock Gold unveils plans for Silver Cloud exploration ]]> https://www.proactiveinvestors.com/companies/news/221233/blackrock-gold-unveils-plans-for-silver-cloud-exploration-221233.html Blackrock Gold Corp (CVE:BRC) is planning a summer work program to find new targets at its Silver Cloud project in Nevada.

The Vancouver-based company announced Thursday that planning has commenced on the work program, which will include an opportunity to follow up on existing drill targets.

Shares of Blackrock rose 5.6% on Thursday to sit at C$0.10 in Toronto.

READ: Blackrock Gold appoints Aurania Resources CFO Tony Wood to board

Silver Cloud is an 11,200-acre property located in north central Nevada, one of the richest gold mining areas in North America. Previous drilling by global miner Teck uncovered 157.7 g/t gold over 1.5 metres just below the Silver Cloud mercury mine. Prior to that, Placer Dome drilled 5.5 g/t gold over 12.2 metres in the Northwest Canyon target area.

According to Blackrock, the company plans to undertake an IP survey to target the area from the workings of the former Silver Cloud mine extending to the Northwest Canyon, and west from Hecla’s Hollister mine.

Blackrock has collected nearly 1,000 soil samples from the eastern half of the project. In addition, a detailed mapping program will be implemented to refine the geologic and alteration picture.

“The goal of the plan is to have targets in hand by Fall, with the aim of bringing drilling back to the project for the first time in well over a decade,” said Andrew Pollard, Blackrock’s CEO.

Pollard pointed to geologic cross sections that show gold intercepts in the Placer Dome and Teck drill holes of 12.2 metres grading 5.53 grams per ton gold and 1.5 metres grading 157.7 grams per ton gold, respectively, which line up at the same elevation along an east-west zone with 1500 meters of strike potential within the volcanic rocks.

“The geologic similarities to the Midas mine make this target a top priority," he said in a statement.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Thu, 30 May 2019 10:15:00 -0400 https://www.proactiveinvestors.com/companies/news/221233/blackrock-gold-unveils-plans-for-silver-cloud-exploration-221233.html
<![CDATA[Media files - Blackrock Gold announces mining veteran Bill Howald as Executive Chairman ]]> https://www.proactiveinvestors.com/companies/stocktube/13490/blackrock-gold-announces-mining-veteran-bill-howald-as-executive-chairman-13490.html Mon, 27 May 2019 13:36:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13490/blackrock-gold-announces-mining-veteran-bill-howald-as-executive-chairman-13490.html <![CDATA[Media files - Blackrock Gold Corp has a new CEO with a strong vision to turn around the company ]]> https://www.proactiveinvestors.com/companies/stocktube/13389/blackrock-gold-corp-has-a-new-ceo-with-a-strong-vision-to-turn-around-the-company-13389.html Fri, 17 May 2019 06:24:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13389/blackrock-gold-corp-has-a-new-ceo-with-a-strong-vision-to-turn-around-the-company-13389.html <![CDATA[News - Blackrock Gold announces death of Brian Morris, president of its wholly owned US subsidiary ]]> https://www.proactiveinvestors.com/companies/news/209104/blackrock-gold-announces-death-of-brian-morris-president-of-its-wholly-owned-us-subsidiary-209104.html Blackrock Gold Corp (CVE:BRC) announced on Tuesday the death of Brian Morris, president of its wholly owned US subsidiary Blackrock Gold (US) Corp, in a car accident.

At the end of last month, the company said it had hired Nevada exploration veteran Morris as president of the subsidiary.

Formerly, he was also at Klondex Mines, serving as senior vice president of exploration.

He also held management positions with Newmont Mining Corp, Hecla Mining and Great Basin Gold Ltd.

Morris was killed on the evening of November 10 this year in Reno, Nevada, after he had stopped to act as a good Samaritan at the scene of a prior car accident, Blackrock Gold said in a statement.

Two other people were also killed.

"The company's board of directors and management extend our deepest condolences to the family and many friends of Mr. Morris. Together, we mourn the loss of an exceptionally gifted person. Brian will leave an enormous void on lots of different levels and will be greatly missed," Deepak Malhotra, chairman of Blackrock, said in a statement.  added: "He brought great enthusiasm and energy to the Silver Cloud project. We will carry his passion and work forward, making this project a success."

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Tue, 13 Nov 2018 08:44:00 -0500 https://www.proactiveinvestors.com/companies/news/209104/blackrock-gold-announces-death-of-brian-morris-president-of-its-wholly-owned-us-subsidiary-209104.html
<![CDATA[News - Blackrock Gold to start drilling at Silver Cloud project once detailed work is complete ]]> https://www.proactiveinvestors.com/companies/news/202885/blackrock-gold-to-start-drilling-at-silver-cloud-project-once-detailed-work-is-complete-202885.html Blackrock Gold Corp (CVE:BRC) said it would delay drilling at its Silver Cloud project in Elko County, Nevada until a detailed assessment is complete.

"Recently conducted soil geochemical results, along with historical geochemical and geophysical data, are encouraging," the resource group told investors in a brief regulatory statement.

"However, more research is warranted prior to a drill programme. After careful consideration and review, the company has amended the initial plan to drill Silver Cloud in late summer in order to perform additional surface and technical work."

The firm added that "to increase the odds of success", it had decided to delay drilling.

"We are diligently and methodically laying the groundwork to identify the highest-potential drill targets at Silver Cloud in order to increase our odds of success," said Greg Schifrin, chief executive officer of Blackrock Gold.

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Tue, 14 Aug 2018 12:39:00 -0400 https://www.proactiveinvestors.com/companies/news/202885/blackrock-gold-to-start-drilling-at-silver-cloud-project-once-detailed-work-is-complete-202885.html
<![CDATA[News - Blackrock Gold advances Silver Cloud project with soil survey ]]> https://www.proactiveinvestors.com/companies/news/201080/blackrock-gold-advances-silver-cloud-project-with-soil-survey-201080.html Blackrock Gold Corp (CVE:BRC) says it's pleased with results of an orientation soil geochemical survey at the Silver Cloud project in Elko County, Nevada.

Samples showed elevated levels of silver in four of the 41 soil samples collected near the vein exposures and structures in the northeast area of the claim block.

Concentrations of 3.428 parts per million (ppm) silver to 7.405 ppm silver are present in the four soil samples, the firm said.

READ THE BIG PIC: Blackrock Gold Corp now starting to generate momentum at the Silver Cloud project on the Carlin Trend

"We are pleased with results of the orientation survey and the elevated levels of silver in the soil," said Gregory Schifrin, chief executive at Blackrock.

"This indicator, silver associated with gold in the veins, is present in the nearby Hollister mine and perhaps represents leakage along structure at Silver Cloud.

"This orientation work will provide the basis for a decision to conduct an extensive soil geochem survey of the property."

READ: Blackrock Gold completes strong stepping stones at its Silver Cloud project

The mining group is currently in the throes of evaluating data and selecting drill targets.

It plans to commence its drilling programme in late fall 2018 or the spring of 2019 once it has completed additional surface technical work and has received a drilling permit.

The Blackrock management team is working collectively with consultants to expeditiously advance the Silver Cloud project to drilling.

Blackrock shares were unchanged at C$0.08.

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Wed, 18 Jul 2018 12:15:00 -0400 https://www.proactiveinvestors.com/companies/news/201080/blackrock-gold-advances-silver-cloud-project-with-soil-survey-201080.html
<![CDATA[News - Blackrock Gold completes strong stepping stones at its Silver Cloud project ]]> https://www.proactiveinvestors.com/companies/news/197578/blackrock-gold-completes-strong-stepping-stones-at-its-silver-cloud-project-197578.html The old adage, “little strokes fell great oaks” might be one that could be applied to Blackrock Gold Corp (CVE:BRC).

The idea? Simple enough: small pockets of strength, when applied persistently, can accomplish great things.

Blackrock is facing exciting times these days, with the company’s flagship Silver Cloud project in Nevada.

READ: Blackrock Gold to continue on with late president’s plans to expand soil geochemistry survey

Bumper that to appointed director and chief executive officer Greg Schifrin’s experience and established time in the area, and you have a compelling prospect on your hands. Schifrin, who has 35 years of experience in the mining and exploration sector, spent time focused on Nevada in the 1980s and 1990s. He actually worked on a nearby deposit at one point and knows the area, the players, and the rocks well.

“This is one of the most prolific gold mining regions in the US,” said Schifrin, of the Silver Cloud project.

Silver Cloud project lies on rich gold belt

The Silver Cloud project lies on one of the world’s richest gold belts, near the confluence of the Carlin Trend and the Northern Nevada Rift in north-central Nevada. Silver Cloud has been looked at before, but it’s been a long while since then: 16-17 years since anything was drilled. Most of the limited drilling was completed by Teck Resources or Placer Dome.

“It did establish three significant anomalies, and Placer hit 1.5 metres at 145 grams per tonne and 22 metres at 5.5 grams per tonne, at depths of around the 200 metres range,” said Schifrin. “Those were the types of intercepts that were gotten in that time period, about 16-20 years ago.”

A limited drill programme at Silver Cloud was completed by Teck (10 holes) between 1999 and 2001 and one hole hit 1.5 m (meters) at 145 g/t (grams per ton) gold and another encountered 22.8m at 5.67 g/ton gold.

In 2002 Placer-Dome had one drill hole which encountered 12 m at 5.53 g/t gold in the Northwest Canyon approximately 2 km west of the Silver Cloud Mine, confirming the presence of high grade gold mineralization at depth.

“We believe that the potential for another high-grade vein deposit there is probable,” said Schifrin.

This fall, Blackrock said it had plans to expand its soil geochemical survey at its Silver Cloud project.

The first phase of the soil geochemical survey will zero in on a northern area of the project measuring about 2 kilometers wide by four kilometers long.

There will be 18 survey lines with soil samples collected at 30- and 60-meter spacings, resulting in a total of 900 samples.

The resulting samples will then be tested for 41 elements, including gold and silver.

Good neighbours

There’s nothing quite like having good neighbours and Silver Cloud is located amidst some compelling ones.

The property is only 8km from the producing Hollister mine and Midas mine (20km along strike to the north). Both mines were recently purchased by Hecla Mining Company from Klondex Mines Ltd.

The state of Nevada as a whole is a very welcoming place for companies like Blackrock Gold.

“It’s probably one of the most pro-mining states in the US,” said Schifrin.

Team bench strength

Schifrin’s appointment brings a solid grounding of experience to Blackrock Gold: he’s worked as a geologist and manager for more than 35 years in the industry in a range of areas: precious, base metals, rare earth and uranium exploration and development.

He’s also worked as a consultant, providing technical services and project management for major and junior mining companies. Simply put, he’s had his fingers in a wide range of projects in his history (including a number of ones in Nevada) all of which help create a foundation for the company.

Making strides towards a drilling campaign

With gold sitting at around US$1,239 an ounce, Blackrock is now striding towards a drilling campaign.

In his most recent trip, Schifrin checked out the potential drill targets and says Blackrock Gold aims to start drilling shortly. 

Blackrock has also bolstered its financing game, recently raising  $300,000 gross for working capital.

The company issued 6 million units at C$0.05 each. Each unit consisted of one share and one half of a share purchase warrant.

READ: Blackrock Gold brings in $300,000 from previously announced placing

Blackrock is currently completing a drill permit notification for Silver Cloud. The permits go through the  Bureau of Land Management Elko District Office.

The drill permit notification will be submitted shortly after the data review is complete and drill site locations are sited on the ground.

For now, things continue to churn ahead: loads of work to get done, coupled with loads of possibility.

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Wed, 23 May 2018 11:02:00 -0400 https://www.proactiveinvestors.com/companies/news/197578/blackrock-gold-completes-strong-stepping-stones-at-its-silver-cloud-project-197578.html
<![CDATA[News - Blackrock Gold grants 1.9 million in incentive stock options ]]> https://www.proactiveinvestors.com/companies/news/196483/blackrock-gold-grants-19-million-in-incentive-stock-options-196483.html Blackrock Gold Corp. (TSX: BRC) said it has granted 1.9 million in incentive stock options to the directors, officers and consultant of the company.

The company said that the options, which are subject to the terms and conditions of the company's stock option plan and the policies of the TSX Venture Exchange, may be exercised at a price of CDN$0.12 per share for a term of five years.

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Mon, 07 May 2018 10:48:00 -0400 https://www.proactiveinvestors.com/companies/news/196483/blackrock-gold-grants-19-million-in-incentive-stock-options-196483.html
<![CDATA[News - Blackrock Gold CEO Greg Schifrin gets the lie of the land at Silver Cloud ]]> https://www.proactiveinvestors.com/companies/news/195976/blackrock-gold-ceo-greg-schifrin-gets-the-lie-of-the-land-at-silver-cloud-195976.html Greg Schifrin, the chief executive officer of Blackrock Gold Corporation (CVE:BRC), recently visited the Silver Cloud property in Elko County, Nevada, to evaluate the property.

While there, Schifrin looked at potential drill targets on the recently optioned property, with the company looking to kick off its drilling campaign in the summer.

READ Blackrock Gold Corp now starting to generate momentum at the Silver Cloud project on the Carlin Trend

A review of all the historic Silver Cloud Property data from parties that had previously leased the asset is under examination.

The data review and 3-D modeling of the previous drill data will help in the location of drill targets for Blackrock Gold Corp's 2018 drill campaign, the company said.

All being well, the historical data review will be completed within the next couple of weeks.

In addition, Blackrock is in the process of completing a drill permit notification for the Silver Cloud property that will be submitted to the Bureau of Land Management Elko District Office.

The drill permit notification will be submitted shortly after the data review is complete and drill site locations are sited on the ground.

"The hot spring sinters at Silver Cloud are massive and extensive and very similar in characteristics to the Hollister Mine right next door,” said Schifrin.

“The previous high-grade gold intercepts at Silver Cloud in the historic drilling by Teck and Placer Dome are very encouraging for continued positive results at this project," he added.

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Thu, 26 Apr 2018 16:48:00 -0400 https://www.proactiveinvestors.com/companies/news/195976/blackrock-gold-ceo-greg-schifrin-gets-the-lie-of-the-land-at-silver-cloud-195976.html
<![CDATA[News - Blackrock Gold Corp now starting to generate momentum at the Silver Cloud project on the Carlin Trend ]]> https://www.proactiveinvestors.com/companies/news/194844/blackrock-gold-corp-now-starting-to-generate-momentum-at-the-silver-cloud-project-on-the-carlin-trend-194844.html “I started out in mining in the early 1980s,” says Greg Schifrin of Blackrock Gold Corp (CVE:BRC).

“I worked for Hunt Brothers when their oil company had a minerals division, up in Alaska at a place called the Kensington mine.”

READ: Belgravia Capital International buys 14.82% stake in Blackrock Gold

After time subsequently spent at the once-mighty Cominco and Tenneco Minerals, Schifrin went on to start his own consulting firm, Minex Exploration, which has worked, amongst others, for Newmont, Freeport McMoran and Rio Tinto.

And more recently he’s also got involved in the junior mining scene at the corporate level, although given that he was already making money as a consultant, he’s always been able to pick and choose which offers to accept.

The offer to join Blackrock Gold Corp came from chairman Deepak Malhotra, another very experienced industry professional.

Silver Cloud gold project

Schifrin was intrigued, in particular by the potential of the company’s Silver Cloud gold project in Nevada, only recently acquired, and he agreed to take on the job of making something of it.

“It’s at the northern end of the Carlin Trend on the north Nevada rift,” he says.

This, as experienced followers of the mining sector will know, is one of the most prolific gold producing regions in the world, and Schifrin himself has experience of working here. Minex itself is based in the state just to the north, Idaho.

And Silver Cloud itself has been looked at before, too, so there’s data available on it, though it’s pretty old now.

“Nobody’s drilled on it in 16 or 17 years,” says Schifrin.

“Most of the drilling was by Teck or Placer Dome. It did establish three significant anomalies, and Placer hit 1.5 metres at 145 grams per tonne and 22 metres at 5.5 grams per tonne, at depths of around the 200 metres range.”

But with the spotlight shining firmly on two other nearby projects, Hollister and Midas, now well-established producers, work lapsed. After all 16 or 17 years ago, the gold price was bumping along at the sub-US$400 level, and the economics of exploration were very different.

Now, with gold at around US$1,330 an ounce, and after Silver Cloud has changed hands several times, Blackrock is now lining up to get it drilled.

One or two things need to be done first. There’s a re-evaluation of existing data, which will determine where the company wants to drill.

There’s permitting, which will be the next significant item of news.

Fundraising ahead

And there’s the fundraising that Schifrin hopes to put in place in order to allow for a really comprehensive programme. The markets are now opening up to mining again, and with the strength in depth that Blackrock Gold Corp has on its board, bringing the necessary US$2.5mln-US$5mln into the coffers ought to be achievable.

Once drilling is underway, the geological realities will move to centre stage.

“Based on project information reviewed gold potential is not at the surface,” says Schifrin.

“Most is at depth in the 300-500 metre range. It’s a deep fishing target, but we’re fishing in elephant country because the Carlin Trend is the richest gold district in North America.”

The plan is to be drilling in August, and thereafter to build up an increasing understanding of the deposit and to begin to work towards the delineation of a resource.

“There were three different holes that had significant intercepts drilled between 1999 and 2002,” says Schifrin.

“If we can continue to intersect the structures that have the vein systems that contain the gold, that would be ideal,” says Schifrin.

“But with a two-and-a-half inch diameter hole trying to intercept something that’s 1,500 feet below you, if you hit anything, that’s good. If we hit the structures and we get any evidence there’s gold in the system that will be a success. And if we hit anything like the grade that we’ve seen before, that would be amazing.”

In the longer-term, Schifrin’s aspiration is to transform Blackrock into a company more focussed on development.

But for the time being, investors will have plenty to look forward to when the drill bits start turning later in the year.

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Thu, 12 Apr 2018 10:49:00 -0400 https://www.proactiveinvestors.com/companies/news/194844/blackrock-gold-corp-now-starting-to-generate-momentum-at-the-silver-cloud-project-on-the-carlin-trend-194844.html
<![CDATA[News - Belgravia Capital International buys 14.82% stake in Blackrock Gold ]]> https://www.proactiveinvestors.com/companies/news/193717/belgravia-capital-international-buys-1482-stake-in-blackrock-gold-193717.html Belgravia Capital International Inc has bought 5.28mln units in Blackrock Gold Corporation (CVE:BRC) for C$528,000, representing a 14.82% stake in the company.

In a statement, Belgravia Capital’s president and CEO Mehdi Azodi said the units were bought at a price of C$0.10 each. Each unit comprises of one common share and one-half of one share purchase warrant.

READ: Blackrock Gold set to begin work at Silver Cloud project in Nevada

Each full warrant entitles the company to buy an additional share in the Company at a p rice of C$0.20 until 14 March 2020, subject to accelerated expiry provisions.

Prior to the acquisition, Belgravia did not have any stakes in Blackrock.

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Fri, 23 Mar 2018 09:53:00 -0400 https://www.proactiveinvestors.com/companies/news/193717/belgravia-capital-international-buys-1482-stake-in-blackrock-gold-193717.html
<![CDATA[News - Blackrock Gold set to begin work at Silver Cloud project in Nevada ]]> https://www.proactiveinvestors.com/companies/news/193638/blackrock-gold-set-to-begin-work-at-silver-cloud-project-in-nevada-193638.html Junior explorer Blackrock Gold Corporation (CVE:BRC) says its deal for the Silver Cloud project in Nevada has received the go-ahead from the Venture Exchange, firing the starting gun on pre-drilling assessment work and applying for drill permitting.

Silver Cloud is a huge 11,210-acre claim block in Elko County in the state of Nevada - a popular mining destination.

Move forward on permitting and planning

The property is near the confluence of the Carlin Trend and the Northern Nevada Rift in north-central Nevada and has received only limited previous drilling and boasts no historic resource.

"We are pleased to have finalised the lease agreement with Pescio Exploration and now can move forward on permitting and planning for drilling exploration at the Silver Cloud project, Greg Schifrin, chief executive, told investors.

"Blackrock Gold is eager to get started on this project with the historic mercury mining and the positive results of the previous gold exploration by major mining companies we believe we are exploring an area that has an existing gold system present that needs to be defined."

The property is 8km from the producing Hollister mine and Midas mine (20km along strike to the north) - both of which were recently purchased by Hecla Mining Company from Klondex Mines Ltd.

A limited drill programme at Silver Cloud was completed by Teck (10 holes) between 1999 and 2001 and one hole hit 1.5 m (meters) at 145 g/t (grams per ton) gold and another encountered 22.8m at 5.67 g/ton gold.

In 2002 Placer-Dome had one drill hole which encountered 12 m at 5.53 g/t gold in the Northwest Canyon approximately 2 km west of the Silver Cloud Mine, confirming the presence of high grade gold mineralisation at depth.

Under the terms of the agreement with Pescio Exploration, Blackrock has paid US$100,000 to Pescio and issued 1mln shares.

It has also agreed to pay a finder's fee to David Sidder of Bermuda of 600,000 shares over three years - with the first 200,000 having already been issued.

Shares were unchanged at C$0.13.

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Thu, 22 Mar 2018 09:38:00 -0400 https://www.proactiveinvestors.com/companies/news/193638/blackrock-gold-set-to-begin-work-at-silver-cloud-project-in-nevada-193638.html