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Blackrock Gold finalizes acquisiton to expand Silver Cloud property in Nevada

The West Silver Cloud property borders Silver Cloud's Northwest Canyon target, where the firm Placer Dome encountered 1.5 metres of 12.5 grams per ton gold

nevada
Silver Cloud is in one of the richest mining districts of Nevada

Blackrock Gold Corp (CVE:BRC) announced Tuesday it had closed the acquisition of 20 mining claims adjacent to the company’s Silver Cloud project in Nevada.

The West Silver Cloud property borders Silver Cloud's Northwest Canyon target, where the firm Placer Dome encountered 1.5 metres of 12.5 grams per ton gold.

READ: Blackrock Gold pushes forward with exploration campaign at flagship Silver Cloud project

The new acquisition enables Blackrock to focus on expanding the strike potential beyond the original boundary of the property.

Vancouver-based Blackrock said that it had completed payments of US$5,000 and issued 150,000 shares and 50,000 warrants to the vendors of the West Silver Cloud property. Each warrant is exercisable at C$0.20 per share until July 11, 2022.

The vendors also retain a production royalty of 0.5% on the property. Blackrock has the option to purchase the vendor’s rights, title and interest in the royalty at any time for US$500,000 subject to regulatory approval.

Blackrock's Silver Cloud project lies on a rich gold belt, near the confluence of the Carlin Trend and the Northern Nevada Rift in north-central Nevada.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: 0.23 CAD

TSX-V:BRC
Market: TSX-V
Market Cap: $14.41 m
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BLACKROCK GOLD active with first drill programme at Silver Cloud in 15 years

BLACKROCK GOLD (CVE:BRC) CEO Andrew Pollard speaks to Proactive's Andrew Scott at Mines and Money London 2019. The company's currently undertaking the first drill programme at the Silver Cloud project in Nevada for 15 year. High grade intercepts of up to 158g/t gold have been seen...

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