Blackrock Announces Filing of Tonopah WEST Project Technical Report
Suite 2710 – 200 Granville Street
Vancouver, BC V6C 1S4
BLACKROCK ANNOUNCES FILING OF TONOPAH WEST PROJECT
TECHNICAL REPORT
FOR IMMEDIATE RELEASE TSX-V Symbol: BRC
November 8, 2023, - Vancouver, British Columbia . Blackrock Silver Corp. (the “Company” or
“Blackrock”) is pleased to announce that it has filed on SEDAR+ an independent technical report
and updated mineral resource estimate (the “Updated MRE”) titled “Technical Report for Updated
Estimate of Mineral Resources, Tonopah West Silver-Gold Project, Nye and Esmeralda Counties,
Nevada, USA” effective October 6, 2023 and dated November 8, 2023 (the “ Technical Report”)
for the Tonopah West silver-gold project. The Technical Report was prepared in accordance with
the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral
Resources and Mineral Reserves adopted May 19, 2014, and in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects and supports the disclosure
made by the Company in its October 10, 2023 news release announcing the updated MRE. There
are no material differences in the Technical Report from the information disclosed in the October
10, 2023 news release.
HIGHLIGHTS:
The Updated MRE contains a total of 0.57 million ounces (“ Moz”) of gold and 47.74Mozs
of silver or 100.04Mozs of silver equivalent (“ AgEq”), which is a 135% increase over the
maiden resource estimate for Tonopah West (the “Maiden MRE”) included in the technical
report dated effective April 28, 2022;
At a 200 g/t AgEq cut-off, the average grade of the inferred mineral resource is 508.5 g/t
AgEq, which is a 14% increase over the Maiden MRE;
The Updated MRE includes 6.12 million tonnes, which is a 106% increase over the Maiden
MRE;
Blackrock’s discovery costs are $0.29 per ounce of AgEq;
The Updated MRE is based on a structural re-interpretation of the Victor and DPB areas
and incorporation of the new drill information from the Northwest Step Out target. The
Updated MRE captures approximately 3-kilometres of strike along the Tonopah West vein
system; and
Silver and gold mineralization remains open to the northwest and internally between Victor
and DPB, and DPB and the Northwest Step Out target, and at depth.
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Table 1: Tonopah West Updated 2023 Mineral Resource Estimate
AgEq
cutoff
g/t (1)
Tonnes Silver
g/t
Gold
g/t
AgEq
g/t (2)
Ounces of
Silver
Ounces
of Gold
Ounce of
Silver
Equivalent(3)
Classification(4)
200 6,119,000 242.6 2.90 508.5 47,738,000 570,000 100,038,000 Inferred
1 AgEq cutoff grade is based a total mining, processing and G&A cost of $119/tonne.
2 Silver Equivalent grade ratio used in this news is b ased on silver and gold prices of $22/ounce and $1,850/ounce,
respectively, and recoveries for silver and gold of 87% and 95%, respectively. AgEq Factor= (Ag Price / Au Price) x
(Ag Rec / Au Rec); g AgEq/t = g Ag/t + (g Au/t / AgEq Factor).
3 Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grade, and
contained metal content.
4 Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty
that all or any part of the mineral resources estimated will be converted into mineral reserves. The quantity and
grade of reported inferred mineral resources in this estimation are uncertain in nature and there has been insufficient
exploration to define these inferred mineral resources as indicated mineral resources. It is uncertain if further
exploration will result in upgrading them to the Indicated mineral resources category.
Table 2: Tonopah West Cut‐off Grade Sensitivity From The Updated 2023 Mineral Resource Estimate
All TP West Mineralization at Various Cutoff Grades
Cutoff
Grade
g AgEq/t
Tonnes
Ave. AgEq
Grade
g AgEq/t
Ave. Ag
Grade
g Ag/t
Ave. Au
Grade g
Au/t
Contained
oz Ag
Contained
oz Au
Contained
oz AgEq
200 6,119,000 508.5 242.6 2.9 47,738,000 570,000 100,038,000
210 5,840,000 523.0 249.0 3.0 46,762,000 560,000 98,200,000
220 5,511,000 541.4 256.8 3.1 45,507,000 549,000 95,926,000
230 5,240,000 557.7 263.9 3.2 44,456,000 539,000 93,964,000
240 5,015,000 572.2 270.3 3.3 43,578,000 530,000 92,266,000
250 4,807,000 586.4 276.5 3.4 42,728,000 522,000 90,625,000
275 4,340,000 621.3 291.6 3.6 40,689,000 501,000 86,686,000
300 3,928,000 656.3 307.0 3.8 38,771,000 480,000 82,886,000
400 2,827,000 777.5 358.1 4.6 32,548,000 415,000 70,659,000
1. The project mineral resources are shown in bold and are comprised of all model blocks with grades greater than or equal to a 200 g
AgEq/tonne cutoff grade.
2. Tabulations at higher cutoffs than used to define the mineral resources represent subsets of the mineral resource.
3. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
4. Rounding as required by reporting guidelines may result in apparent discrepancies between tons, grade, and contained metal
content.
The Technical Report is available for download under the Company's profile on SEDAR+
(www.sedarplus.ca). A copy of the Technical Report is also located on the Company’s website.
The Updated MRE was prepared under the supervision of Mr. Jeffrey Bickel, CPG, an employee
of RESPEC (formerly Mine Development Associates), and he has reviewed and approved the
technical contents relating to the Updated MRE and the Technical Report in this news release.
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About Blackrock Silver Corp.
Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused
exploration company driven to add shareholder value via the drill bit. With 6.12 million tonnes
grading 508.5 g/t silver equivalent at its Tonopah West project, and a new bonanza-grade gold
discovery at its Silver Cloud project, the Company has a proven track record of exploration
success. In addition to its gold and silver project portfolio, the Company is credited with a lithium
discovery, the Tonopah North project, which is under option to a major lithium exploration group.
Anchored by a seasoned Board of Directors, t he Company is focused on its 100% controlled
Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver
mineralization located along the established Northern Nevada Rift in north-central Nevada and the
Walker Lane trend in western Nevada.
For further information, please contact:
Andrew Pollard, President & Chief Executive Officer
Blackrock Silver Corp.
Phone: 604 817-6044
Email: [email protected]
Forward Looking Statements
This news release contains “forward-loo king statements” within the me aning of Canadian securities legislation. Such
forward-looking statements concern, without limitation: estimates of mineral resource quantities and qualities; estimates
of mineralization from drilling; geologica l information projected from sampling re sults; and the potent ial quantities and
grades of the target zones. Such fo rward-looking statements or information are based on a number of assumptions,
which may prove to be incorrect. Assumptions have been m ade regarding, among other things: conditions in general
economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and
amount of capital expenditures; performanc e of available laboratory and other rela ted services; future operating costs;
and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could
differ materially from those anticipated in these forward-looking statements as a result of risk factors, including the ability
of the Company to make payments related to the lease op tion to purchase the Tonopah West project; the timing and
content of work programs; results of exploration activities and development of mineral properties; the interpretation and
uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral
property titles; environmental and other regulatory risks; proj ect costs overruns or unant icipated costs and expenses;
availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; and
general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the
Company’s management on the date the statements are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers
are cautioned not to place undue reliance on these forwar d-looking statements, which s peak only as of the date the
statements were made. The Company unde rtakes no obligation to update or revi se any forward-looking statements
included in this news release if these beliefs, estimates a nd opinions or other circumstances should change, except as
otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.