viewBlackrock Gold Corp.

Blackrock Gold closes over C$1 million financing to support drill program at Silver Cloud project

The company raised C$1.02 million to fund an upcoming 2,000 metre drill program at the Nevada gold project

gold bars and Canadian dollars
The Vancouver-based explorer raised total proceeds of C$1,020,820

Blackrock Gold Corporation (CVE:BRC) closed a major funding package to support a new drilling program at the Silver Cloud property in Nevada.

The Vancouver-based company told shareholders that it had completed a C$1.02 million financing last week, an over-subscribed private placement announced on August 13.

The explorer increased the size of the non-brokered private placement, issuing nearly 6.4 million units of the company at a price of C$0.16 for total proceeds of C$1,020,820.

READ: Blackrock Gold getting pieces in place for upcoming Silver Cloud drill program

Each unit consists of one share and one-half of one warrant exercisable at C$0.25 for a three-year period ending September 6, 2022.

The company said it expects to pay a finder’s fee of C$6,355 in cash. Shares and warrants issued are subject to a holding period ending January 7, 2020.

Silver Cloud is a 4,500-hectare property on the convergence of the Carlin Trend and Northern Nevada Rift, one of the richest gold mining areas in North America.

Blackrock is preparing for an upcoming 2,000-metre drill program at the project, the first at Silver Cloud in nearly 15 years.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Blackrock Gold Corp.

Price: 0.215 CAD

Market: TSX-V
Market Cap: $13.47 m

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BLACKROCK GOLD active with first drill programme at Silver Cloud in 15 years

BLACKROCK GOLD (CVE:BRC) CEO Andrew Pollard speaks to Proactive's Andrew Scott at Mines and Money London 2019. The company's currently undertaking the first drill programme at the Silver Cloud project in Nevada for 15 year. High grade intercepts of up to 158g/t gold have been seen...

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