Blackrock Silver Engages Westland Engineering and Environmental Services to Drive Permits Required for Underground Decline and Test Mining at Tonopah West
Blackrock Silver Engages Westland
Engineering and Environmental Services to
Drive Permits Required for Underground
Decline and Test Mining at Tonopah West
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2025) -
Blackrock Silver Corp.
(TSXV:BRC) (OTCQX: BKRRF) (FSE: AHZ0)
("
Blackrock
" or the "
Company
") announces that it has
selected Westland Engineering and Environmental Services Inc. ("
Westland
") to guide the Company
through the permitting process with the aim of receiving the necessary permits to develop an exploration
decline, complete test mining and extract a bulk sample from the Company's 100%-owned Tonopah
West project ("
Tonopah West
" or the "
Project
") located on private land in Nye and Esmeralda
counties, Nevada, United States.
Situated on private land, patented claims and fee lands, adjacent to the town of Tonopah, the Company's
Preliminary Economic Assessment ("
PEA
")
1
on Tonopah West indicates the potential for it to be one of
the top American silver producers, with the potential to jog domestic production by up to 15% annually
2
.
With the project development residing on patented mining claims, it offers an opportunity for the
Company to fast-track the required federal, state and county permits to allow the Company to proceed
with de-risking of the Project by breaking ground on an underground platform for access, development,
and ultimately, mining.
Andrew Pollard, the Company's President and Chief Executive Officer, stated, "The launch of permitting
initiatives marks a major milestone for the Company-just four years after our initial discovery-as we
advance toward our goal of becoming one of America's leading domestic silver producers. Our
environmental consultants will oversee critical baseline data collection, while our team finalizes
engineering designs. Our objective is to receive the necessary approvals and permits to break ground
on an exploration decline in 2027. In parallel, we've expanded our drilling programs by an additional
15,000 metres, positioning us to release a mineral resource update in Q3 2025. This update will
incorporate results from our M&I Conversion Program, aimed at de-risking ounces and maximizing
economic potential in the early years of anticipated production at Tonopah West as outlined in the PEA.
Furthermore, an updated preliminary economic assessment on Tonopah West is expected by Q2 2026,
incorporating an additional mineral resource update from the Resource Expansion Program, which is
designed to extend mine life and maximize capital investment."
The initial mine design contemplated in the PEA
is the starting point to access the shallowest and
highest-grade stopes from the Bermuda-Merten vein group (collectively, "
DPB South
") at an average
undiluted grade of 981 g/t silver equivalent (AgEq)
3
.
The Company, through the services of Westland,
intends to secure the required baseline data, and obtain the necessary associated permits and
government approvals in order to break ground on an exploration decline to commence underground
development at Tonopah West.
Once underground, the Company intends to continue to drill the DPB South veins and work toward test
mining and extracting a bulk sample at Tonopah West.
Figure 1 sets out the activities the Company
intends to undertake to achieve the aforementioned goals:
Figure 1: Tonopah West project timeline
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/241237_figure_1.jpg
In concert with the permitting process at Tonopah West, the Company intends to complete its in-fill
drilling program consisting of approximately sixty-two drillholes within the shallow southern portion of the
DPB resource area with a goal to convert up to 1.5-million tonnes of material from inferred mineral
resources to measured and indicated mineral resources (the "
M&I Conversion Program
") and aims to
prepare an updated NI 43-101 compliant mineral resource on Tonopah West in the third quarter of 2025.
Following completion of the M&I Conversion Program and the updated mineral resource, the Company
intends to complete an updated mineral resource incorporating results from its ongoing exploration
program which is targeting expansion potential across a one kilometre trend of vein corridor linking the
DBP and the NW step out resource areas (the "
Resource Expansion Program
") at Tonopah West
and prepare an updated preliminary economic assessment on Tonopah West by the second quarter of
2026.
The Company believes that the above noted activities will provide the information needed for approvals
for the underground development and test mining at Tonopah West.
Qualified Persons
Blackrock's exploration activities at Tonopah West are conducted and supervised by Mr. William
Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist
#11041, is a Qualified Person as defined under NI 43-101. He has reviewed and approved the contents
of this news release.
About Blackrock Silver Corp.
Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration
and development company driven to add shareholder value. Anchored by a seasoned Board of
Directors, the 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.
Additional information on Blackrock Silver Corp. can be found on its website at
www.blackrocksilver.com
and by reviewing its profile on SEDAR at
www.sedarplus.ca
.
Cautionary Note Regarding Forward-Looking Statements and Information
This news release contains "forward-looking statements" and "forward-looking information" (collectively,
"
forward-looking statements
") within the meaning of Canadian and United States securities
legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical fact, are forward-looking statements. Forward-looking statements in
this news release relate to, among other things: the Company's strategic plans; the economic potential of
Tonopah West; the required permits and permitting process at Tonopah West, including the receipt of
the permits necessary to develop an exploration decline, complete test mining and extract a bulk sample
from Tonopah West, and the activities the Company intends to undertake in connection with the
foregoing; the timing of completion of the Company's drill programs at Tonopah West, including the M&I
Conversion Program and the Resource Expansion Program, and the anticipated objectives and results
therefrom; the timing of completion of updated mineral resource estimates and an updated preliminary
economic assessment on Tonopah West; the Company's objective of obtaining the necessary approvals
and permits and breaking ground on an exploration decline at Tonopah West in 2027; the Company's
de-risking initiatives at Tonopah West; estimates of mineral resource quantities and qualities; estimates
of mineralization from drilling; geological information projected from sampling results; and the potential
quantities and grades of the target zones.
These forward-looking statements reflect the Company's current views with respect to future events and
are necessarily based upon a number of assumptions that, while considered reasonable by the
Company, are inherently subject to significant operational, business, economic and regulatory
uncertainties and contingencies. These assumptions include, 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; performance of available laboratory and other related
services; future operating costs; the historical basis for current estimates of potential quantities and
grades of target zones; the availability of skilled labour and no labour related disruptions at any of the
Company's operations; no unplanned delays or interruptions in scheduled activities; all necessary
permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to
secure and maintain title and ownership to properties and the surface rights necessary for operations;
and the Company's ability to comply with environmental, health and safety laws. The foregoing list of
assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results and developments to differ materially from
those expressed or implied by such forward-looking statements contained in this news release and the
Company has made assumptions and estimates based on or related to many of these factors. Such
factors include, without limitation: 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; project costs overruns or unanticipated costs and expenses;
availability of funds; failure to delineate potential quantities and grades of the target zones based on
historical data; general market and industry conditions; and those factors identified under the caption
"Risks Factors" in the Company's most recent Annual Information Form.
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 forward-looking statements, which
speak only as of the date the statements were made. The Company undertakes no obligation to update
or revise any forward-looking statements included in this news release if these beliefs, estimates and
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.
For Further Information, Contact:
Andrew Pollard
President and Chief Executive Officer
(604) 817-6044
1
Technical information relating to Tonopah West is based on and derived from the National Instrument 43-101 -
Standards of Disclosure for Mineral
Projects
("
NI 43-101
") technical report prepared for Blackrock entitled "
Preliminary Economic Assessment of Mineral Resources, Tonopah West
Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA
" with an effective date of September 4, 2024 and dated October 11, 2024 (the
"
Technical Report
"), available under the Company's SEDAR+ profile at
www.sedarplus.ca
.
2
Based on Silver production in the United Stated of 32 million ounces in 2023 as set out in the World Silver Survey 2024 published by The Silver
Institute.
3
AgEq grades calculated using $23/oz silver and $1,900/oz gold, and metals recoveries of 87% silver and 95% gold
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