The market was waiting for definitive news from Blackrock Gold Corp. (BRC:TSX.V; BKRRF:OTCMKTS) about their upcoming drill program at Tonopah West. On the 17th of June the market got it and liked it a lot. The shares were up 18% on the day and 50% over the past three weeks.
Investors have been waiting patiently for assay results coming out from Blackrock's Silver Cloud project. Some were in for assay six weeks ago and have yet to be released.
Management tells me the next big news will be coming from their Tonopah West Silver project where the company plans 16 RC holes for a total of 7,285 meters of drilling. That drill program has started and since it is RC drilling results could come out as early as the 1st or 2nd week of July.
Between 1900 and 1950 the Tonopah district produced 174 million ounces of silver and 1.8 million ounces of gold at a grade equivalent of 2,125 g/t Ag with a value today of about $1160 USD for the rock. Blackrock is being pretty smart with their drill plan. They plan on punching down where the greatest grades and thickness were from historical reports. It's all well and good to determine what the total tonnage and grade is for the deposit but investors buy shares for the sizzle, not the steak.
If they hit over 2 kilo silver equivalent over a few meters they will look like a hero. If they don't. . .
Blackrock is an advertiser. I have participated in several private placements so naturally I am biased. Their website is pretty good and presentation excellent.
Blackrock Gold Corp.
BRC-V $0.31 (Jun 18, 2020)
BKRRF-OTCBB 91 million shares
Blackrock Gold website.
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Bob Moriarty founded 321gold.com, with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.
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