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Blackrock Gold Consolidates Western Half of Historic Nevada Silver District with Lease Option to Purchase Tonopah West Project
Press Release Highlights The Tonopah District produced over 174 million ounces of silver a...
About this update from Blackrock Silver Corp
[{"type":"text","content":"Blackrock Gold Consolidates Western Half of Historic Nevada Silver District with Lease Option to Purchase Tonopah West ProjectPress Release HighlightsThe Tonopah District produced over 174 million ounces of silver and 1.8 million ounces of gold from approximately 7.5 million tonnes of high-grade silver-gold epithermal quartz veins making it one of the most significant silver-gold districts in North America1. Mineralization hosted on adjacent or nearby properties is not necessarily indicative of the mineralization hosted on the Tonopah West Project.Blackrock has acquired an option to purchase the Tonopah West Project, consisting of 98 patented and 17 unpatented lode mining claims. The optioned Tonopah West Project produced 30% of the tonnage and 26% of the revenue from the Tonopah District, making it the third largest producer in the Tonopah District which contributed to the historic production that made Tonopah the second largest silver district in Nevada, behind only the Comstock Lode.First consolidated ownership of land package since Howard Hughes held it in the 1960's, giving Blackrock control over largest claim package in the Tonopah District.Blackrock has identified four target areas with the potential ranging from 2.5 million to 6 million tonnes averaging 13 to 21 g/t gold and gold equivalent.Vancouver, British Columbia--(Newsfile Corp. - February 25, 2020) - Blackrock Gold Corp. (TSXV: BRC) (the \"Company\") announces a Lease Option to Purchase the historic West End and Tonopah Extension properties through a 4 year purchase option from Ely Gold Royalties Inc., (\"Ely Gold\") for payments totalling US$3 million. The transaction consolidates these properties into the Tonopah West Project. These properties are a significant landholding within the historic Tonopah silver district located in the Walker Lane trend of western Nevada.Known as the Queen of the Silver Camps, the Tonopah District produced over 174 million ounces of silver and 1.8 million ounces of gold from approximately 7.5 million tonnes of high-grade silver-gold epithermal quartz veins1. The main hosts of gold and silver are volcanic rock of the Mizpah andesite and the West End Rhyolite. These host lithologies are present on the Tonopah West Project. Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on t...