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Blackrock Gold Increases Its Private Placement Offering in Preparation of Silver Cloud 2019 Exploration and Drilling Program and Provides Update
Vancouver, British Columbia--(Newsfile Corp. - March 28, 2019) - Blackrock Gold Corporation ...
About this update from Blackrock Silver Corp
[{"type":"text","content":"Blackrock Gold Increases Its Private Placement Offering in Preparation of Silver Cloud 2019 Exploration and Drilling Program and Provides UpdateVancouver, British Columbia--(Newsfile Corp. - March 28, 2019) - Blackrock Gold Corporation (TSXV: BRC) (\"Blackrock\" or the \"Company\") wishes to announce that in preparation of the Silver Cloud Project (\"Silver Cloud\") 2019 exploration and drilling program, the Company has increased the previously announced non-brokered private placement dated February 4, 2019 (the \"Private Placement\") from up to 10,000,000 units to up to 32,000,000 units (the \"Units\") at a price of $0.05 per unit for gross proceeds of up to $1,600,000.All other terms and conditions of the Private Placement, as previously announced, will remain the same and the Private Placement is subject to the approval of the TSX Exchange. The Company plans to use the gross proceeds of the Private Placement to complete a comprehensive surface exploration and drilling program on Silver Cloud, and for general working capital.SILVER CLOUD PROJECT UPDATEBlackrock wishes to provide the following update to shareholders and interested parties in preparation and planning for exploration and drilling at its Silver Cloud Project located in Elko County, Nevada during 2019. During 2018, the Company collected and reviewed data on Silver Cloud and the regional geological setting. In the third quarter of 2018, the Company appointed as President Mr. Brian Morris, a North Nevada Rift expert geologist with vast experience from working at the neighboring Hollister and Midas Mines, to oversee and lead the exploration efforts on Silver Cloud. With Mr. Morris' tragical passing in late 2018, the Company remains committed to build on the findings, ideas and strategies formulated by Mr. Morris who was confident that Silver Cloud has the potential to host a similar deposit as the neighboring Hollister and Midas mines.Based on the historical work and the regional geological setting, Silver Cloud, like both the Midas and Hollister deposits, is believed to be a low sulphidation epithermal gold deposit. In order to advance the project, the Company is planning to complete an exploration and drilling program during the 2019 field season while continuing to look for a strategic partner. Figure 1 To view an enhanced version of Figure 1, please visit:https://...