Blackrock Gold Corp (CVE:BRC) revealed Monday that exploration work on its Silver Cloud project in Nevada has uncovered eight new gold veins on the property.
The Vancouver-based exploration company also said that results from its soil survey expanded the soil anomaly along the northeastern portion of the property.
Blackrock told shareholders that several outcropping veins were mapped along the Humdinger Ridge and Honey Hill that have geologic similarities to the nearby Hollister mine, owned by Hecla Mining Company.
READ: Blackrock Gold closes over C$1 million financing to support drill program at Silver Cloud project
The veins occur over a one-kilometre-squared area and vary from less than half a metre to more than five metres in thickness. All veins lie within an east-northeast oriented corridor that is 1,200 metres long and 575 metres wide, the company said in a statement.
Results from the soil survey showed low-level gold and sporadic silver that are not typically found in similar vein systems, Blackrock said in a statement. The explorer said that “bonanza” gold and silver grades should be around 300 metres below surface.
"With a total of eight veins now identified at surface, an expanding and open geochemical anomaly that sits atop gravity lows, and just 3 kilometres directly to the east of Hecla's nearby Hollister mine, the previously unexplored NE Veins target is shaping up to be a significant exploration play,” said Andrew Pollard, Blackrock’s CEO.
"It's truly amazing that a project that sits surrounded by some of the largest and highest-grade gold mines in the world, in a tier-one jurisdiction, and previously explored by the likes of Teck and Placer Dome, can deliver such a compelling, and untested target with surface expressions like this.”
Upcoming drill program
Blackrock is considering a second drill program targeting the northeast veins target, likely with some overlap of the already planned 2,000-metre program to follow up on the past high-grade intercepts uncovered by Teck and Placer Dome.
The exploration company anticipates drilling to begin by the end of September.
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