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Blackrock Gold receives $251K in financing and expands Silver Cloud project in Nevada

A total of 1,125,000 warrants and 1,100,000 options were exercised for proceeds of $191,000 and $60,000, respectively

Blackrock Gold Corp. - Blackrock Gold receives $251K in financing and expands Silver Cloud project in Nevada
At Silver Cloud, a fifth drill hole has been added, with the entire program consisting of about 2,500 metres of diamond core drilling

Blackrock Gold Corp (CVE:BRC) announced Monday that it has received $251,000 from the exercise of previously issued warrants and options. 

The junior miner also said it has expanded drilling at the Silver Cloud project in the US state of Nevada. 

A total of 1,125,000 warrants and 1,100,000 options were exercised for proceeds of $191,000 and $60,000, respectively, Blackrock said in a statement.  

READ: Blackrock Gold kicks off fully funded drill program at Silver Cloud

As a result of the exercises, the company said it currently has a total of 62,650,143 common shares issued and outstanding.

At Silver Cloud, drilling remains ongoing and the company has expanded the program to add a fifth drill hole, with the entire program now consisting of about 2,500 metres of diamond core drilling.

Blackrock said hole SBC19-05 has been designed to test the extent of open strike potential to the east of where Teck Resources Limited (NYSE:TECK) encountered multiple gold intercepts in this newly recognized east-west oriented vein system. 

Core from previous holes continues to be logged, photographed, cut and sent for analysis, with assays pending.

The company has said that up to 10,000 metres of drilling among five sites throughout the Silver Cloud vein zone had been permitted and bonded.

Contact the author: [email protected]

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TSX-V:BRC
Market: TSX-V
Market Cap: $145.79 m
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