viewBlackrock Gold Corp

Blackrock Gold getting pieces in place for upcoming Silver Cloud drill program

The exploration firm has selected a drill contractor, secured a water source and received insurance coverage for an upcoming 2,000 metre program

Silver Corp nevada
The exploration company is planning a drill program to target the main Silver Cloud vein

Blackrock Gold Corp (CVE:BRC) is preparing for an upcoming 2,000 metre drill program at the Silver Cloud project in Nevada.

The explorer is following up on high-grade gold intercepts previously identified by Teck and Placer Dome with its new drill program, the first at Silver Cloud in 15 years.

In a statement on Tuesday, the company said it has selected drilling contractor Timberline Drilling Inc to complete the 2,000 metre program, with drills expected to arrive onsite this month.

READ: Blackrock Gold aims to raise C$1 million to fund drilling and exploration at Silver Cloud

Vancouver-based Blackrock also said that it is now permitted and bonded for up to 10,000 metres of drilling in the Silver Cloud mine vein zone, and up to 5,000 metres within the north-east target area that is home to high-grade gold intercepts after securing an insurance bond.

The company said it has secured bonding through Arch Insurance with no collateral down and a 2% per annum finance charge for the bond. The total bond is estimated at US$25,000 at a cost to the company of around US$500 per year until the disturbed areas are reclaimed or the bond is increased thanks to a successful drill program.

Additionally, Hecla Mining Inc has agreed to allow the explorer access to water from its nearby Hollister mine for drilling.

The exploration company is planning a drill program to target the main Silver Cloud vein and a nearby hangingwall vein where past high-grade gold intercepts were found. Previous modeling of historic drill holes show potential for five veins within the Silver Cloud property, according to Blackrock.

Two additional porphyry intrusives were also identified that closely resemble mineralization uncovered by former mining giant Placer Dome in its historical exploration work.

The firm also collected 342 soil samples in the northeast target area and began geologic mapping at the target.

Blackrock received its drill permits from Nevada authorities earlier in August.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Blackrock Gold Corp

Price: 0.18 CAD

Market: TSX-V
Market Cap: $11.28 m

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