Blackrock Gold Corp (CVE:BRC) is planning a summer work program to find new targets at its Silver Cloud project in Nevada.
The Vancouver-based company announced Thursday that planning has commenced on the work program, which will include an opportunity to follow up on existing drill targets.
Shares of Blackrock rose 5.6% on Thursday to sit at C$0.10 in Toronto.
Silver Cloud is an 11,200-acre property located in north central Nevada, one of the richest gold mining areas in North America. Previous drilling by global miner Teck uncovered 157.7 g/t gold over 1.5 metres just below the Silver Cloud mercury mine. Prior to that, Placer Dome drilled 5.5 g/t gold over 12.2 metres in the Northwest Canyon target area.
According to Blackrock, the company plans to undertake an IP survey to target the area from the workings of the former Silver Cloud mine extending to the Northwest Canyon, and west from Hecla’s Hollister mine.
Blackrock has collected nearly 1,000 soil samples from the eastern half of the project. In addition, a detailed mapping program will be implemented to refine the geologic and alteration picture.
“The goal of the plan is to have targets in hand by Fall, with the aim of bringing drilling back to the project for the first time in well over a decade,” said Andrew Pollard, Blackrock’s CEO.
Pollard pointed to geologic cross sections that show gold intercepts in the Placer Dome and Teck drill holes of 12.2 metres grading 5.53 grams per ton gold and 1.5 metres grading 157.7 grams per ton gold, respectively, which line up at the same elevation along an east-west zone with 1500 meters of strike potential within the volcanic rocks.
“The geologic similarities to the Midas mine make this target a top priority," he said in a statement.
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