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Blackrock Gold Completes Lease Option Agreement for the Tonopah West Project
Vancouver, British Columbia--(Newsfile Corp. - April 2, 2020) -   Blackrock Gold Corp. (...
About this update from Blackrock Silver Corp
[{"type":"text","content":"Blackrock Gold Completes Lease Option Agreement for the Tonopah West ProjectVancouver, British Columbia--(Newsfile Corp. - April 2, 2020) -  Blackrock Gold Corp. (TSXV: BRC) (the “Company”) is pleased to announce thecompletion of the Lease Option to Purchase agreement for the historic West Endand Tonopah Extension properties through a 4 year purchase option from Ely GoldRoyalties Inc. (“Ely Gold”) for payments totalling US$3 million.  The transaction consolidates these propertiesinto the Tonopah West Project. These properties are a significant landholdingwithin the historic Tonopah silver district located in the Walker Lane trend ofWestern Nevada and include the Cliff ZZ land package consisting of 73 patentedlode mining claims.Andrew Pollard, President & CEO commented “With theclosing of this transaction, we have re-consolidated the Tonopah ExtensionMining Company’s land position which was the third largest producer in thishistoric, high-grade silver camp.  We areexcited to move forward on the property in one of the largest and highest gradepast-producing silver districts in North America. This brownfield addition toour portfolio has seen very little in the way of modern exploration sincemining activities were ceased in the early 1900s and adds a new dynamic to ourCompany, giving us some very compelling and well-defined targets. In theclosing of this multi-property agreement, we have consolidated this district-leading claim packagetogether for the first time since Howard Hughes held them back in the 1960’s.”Through Ely Gold’s wholly-owned subsidiary, Nevada SelectRoyalty,  Blackrock Gold Corp’swholly-owned US subsidiary acquired the Tonopah West Project under a leaseoption to purchase.  The 4-year optionhas payments as follows:US$325,000on Closing (paid);US$325,000on the 1st Anniversary of Closing;US$650,000on the 2nd Anniversary of Closing;US$700,000on the 3rd Anniversary of Closing; andUS$1,000,000on the 4th Anniversary of Closing.There is no Work Commitment. Blackrock’s exploration activities at the Tonopah WestProject are being conducted and supervised by Mr. William Howald, ExecutiveChairman of Blackrock Gold Corp. Mr. William Howald, AIPG CertifiedProfessional Geologist #11041, is a Qualified Person as define...