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Blackrock Gold Announces Financing; Unveils Systematic Silver Cloud Exploration Program
Vancouver, British Columbia--(Newsfile Corp. - January 10, 2020) -  Blackrock Gold Corp. ...
About this update from Blackrock Silver Corp
[{"type":"text","content":"Blackrock Gold Announces Financing; Unveils Systematic Silver Cloud Exploration ProgramVancouver, British Columbia--(Newsfile Corp. - January 10, 2020) -  Blackrock Gold Corp. (TSXV: BRC) (the \"Company\") is pleased to announce a non-brokered private placement (the \"Offering\") of up to 7,500,000 units (the \"Units\") at a price of $0.20 per Unit for gross proceeds of up to $1,500,000. Each Unit is comprised of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share in the capital of the Company at a price of $0.30 per share for a period of two years from the date the Units are issued.The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The common shares to be issued under the Offering will have a hold period of four months and one day from the closing. The net proceeds of the Offering will be used by the Company to fund the initial 2020 drilling program and exploration work on the Company's Silver Cloud property, and general working capital.The Company may pay finder's fees on a portion of the Offering of up to 6% in cash and, for subscriptions exceeding $250,000 in the aggregate or from institutional investors, finder's warrants equal to 4% of such Units placed by the finder, exercisable for a two-year term at a price of $0.30 per common share. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws, and accordingly, may not be offered or sold within the United States absent an exemption from registration.Initial 2020 Exploration ProgramThe highlights of the Company's next exploration program for its 100% controlled low sulphidation epithermal Silver Cloud project located on the Northern Nevada Rift in Elko County, Nevada are as follows: Immediately mobilize core drill to site to follow up on positive drill results received from core holes SBC19-001 and SBC19-002 (see news release dated January 6, 2020), testing the extent of the mineralised system at depth in search of the boiling zone;Assemble geophysical crew to complete induced polarization survey between the Northwest Canyon throug...