Blackrock Gold Corp (CVE:BRC) (OTCMKTS:BKRRF) shared promising new results on Wednesday from its drill program at the Silver Cloud that identified a major new structure and multiple alteration zones.
The junior explorer said it completed the deepest drill hole at the Northwest Canyon target on Silver Cloud, a highly prospective gold project in the Northern Nevada Rift.
The 678-metre-deep drill hole, SBC20-006, intersected multiple significant alteration zones between 1.5 and 3 metres in thickness, with four zones below 335 metres greater than 3.5 metres thick.
READ: Blackrock Gold says drills turning again at Silver Cloud as it continues hunt for bonanza grade gold
One zone showed sulfide breccia veins and quartz veinlets over 18 metres, according to the company.
Drilling in Northwest Canyon and an enhanced property-wide gravity survey confirms the presence of a major structure between the Silver Cloud mercury mine and Northwest Canyon, Blackrock said in a statement. The geological folds known as a graben structure is interpreted as an extension of a similar structure at the Northern Nevada Rift’s largest mine, Midas, which is 15 kilometres north of Silver Cloud.
The increased thickness of the volcanic material and structural architecture provides for localized gold deposits, according to Blackrock.
Blackrock Gold CEO Andrew Pollard told shareholders that an understanding of what the epithermal system looks like at depth is a crucial step towards unlocking the potential at Silver Cloud.
“Having completed the deepest drillhole yet on the entire property has expanded our understanding of the Northwest Canyon area greatly,” Pollard said in a statement.
“In addition, not only did the drill confirm that the basement is down dropped between the Silver Cloud mine and Northwest Canyon into a newly-identified graben feature, the drill hole also encountered four zones of alteration, including one in particular that was laden with quartz veinlets and sooty sulfides over 18 metres width.”
It is first time sulfides of significant thickness have been encountered in this target area, according to the company.
“With the enhanced property-wide gravity survey in hand, in addition to what we've witnessed in the drill hole, we believe that a graben-like structure cuts right across our property forming a very prospective structural and geologic domain,” Pollard told investors.
“This corridor extends from the northwestern section of our property, where Newmont encountered gold mineralization in the 1980's at the Quiver target, and extends down and across the western half of the property, engulfing Northwest Canyon. We are very excited by this new revelation."
Blackrock is putting its drill program on hold in light of the coronavirus outbreak and will resume operations once deemed safe.
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