Sign up
Mining Capital
Why invest in BRC?
Big Picture

Blackrock Gold completes strong stepping stones at its Silver Cloud project

The high-grade gold and silver project in north-central Nevada is adjacent to Hecla's Hollister Mine
Blackrock gold mine
BigPicture
'This is one of the most prolific gold mining regions in the US,' said CEO Greg Schifrin

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.



Register here to be notified of future BRC Company articles
View full BRC profile View Profile
View All

Related Articles

© mining Capital 2018

Mining Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed mining companies to interact with institutional and highly capitalised investors.
Headquartered in London, Mining Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.