The Vancouver-based company drilled three metres of 2,198 grams per ton (g/t) silver equivalent in a new vein in drill hole TW20-001 and intersected 965 g/t silver equivalent over 29 metres, extending the Victor vein by 30 metres down plunge.
Shares doubled on Monday afternoon in Toronto to close at C$0.87.
READ: Blackrock Gold kicks off 7,000 metre drill program in Nevada in bid to put Tonopah silver district back in the spotlight
Blackrock said it is mobilizing an additional core rig to the site to follow up on the “outstanding” results.
"As the first group to target the historic workings within this prolific, historic silver district in the heart of Nevada, our first drill hole, having encountered multiple significant high-grade veins, is nothing short of remarkable,” Blackrock CEO Andrew Pollard told shareholders in a statement.
“With six drillholes now completed in two distinct target areas, we are incredibly encouraged, as our modelling of the vein systems appears to line up as predicted.”
Pollard added that the firm is expanding its initial drill program beyond the previously envisioned 7,000 metres.
The company sunk three reverse circulation drill holes at Victor to target the down-plunge extension of the mineralized shoot that is currently 20 metres wide and 200 metres long, remaining open at depth. TW20-001 is the first of three drill holes to test the target.
Blackrock also said that two previously unknown veins were intersected above the main Victor zone, the first of which returned three metres grading 465 g/t silver equivalent, and the second yielded 3 metres grading 2,198 g/t silver equivalent.
All zones carried quartz vein material with black sulphides associated with the quartz veins, according to the company.
Blackrock is targeting four areas – Victor, DPB, New Discovery and Ohio – on its recently-acquired Tonopah West project in Nevada.
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