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Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce assay results from the first two (2) of fourteen (14), RC drill holes at the Company’s 100% owned Murchison South gold project, near Payne’s Find, in the gold rich Murchison Mineral Field W.A (see Figure 1). The initial results broadly support the interim mineralisation model developed by Mining Plus, with high-grade mineralisation consistently associated with quartz veins within hornblende gneiss.
HIGHLIGHTS
- RC drilling from the first two (2) holes at the Murchison South gold project has intersected high grade gold, providing initial validation of historical drilling results
- Significant assay results include (down hole widths):
- 25PFRC001 (Hole 1)
41m @ 2.01 g/t from surface; including 15m @ 2.01 g/t from 2m, and
5m @ 10.01 g/t from 36m
- 25PFRC002 (Hole 2)
22m @ 0.70 g/t from 33m; including 10m @ 1.05 g/t from 33m, and
1m @1.61 g/t from 45m
- 25PFRC001 (Hole 1)
- A total of fourteen holes were drilled for 1463m at an average depth of 104m, at the Blue Heaven deposit
- Results from the first two drill holes align with the interim mineralisation analysis completed by Mining Plus, with the holes having intercepted the main rock types and showing a well- defined weathering profile
- Assays from the remaining 12 holes are due next week
Commenting on the results CEO Jeremy Bower said:
“These fantastic initial results give us a great start towards validation of the historic drilling and resource model at our Blue Heaven deposit. We have hit some high-grade shallow gold intervals, which align with the model, which is very encouraging, and we now eagerly await assays from the remaining 12 holes so we can get a complete understanding of our project.”
Figure 1: Murchison South Gold Project showing the Blue Heaven deposit with current and historic drilling.
The drill program comprised 14 RC holes for a total of 1463m at an average depth of 104m and collection of 1588 samples for assay. This announcement relates to the first two (2) drill holes only (Refer to JORC Table 1 Appendix A for full results and collar table from holes 25PFRC001 & 25PFRC002).
Figure 2: Cross Section.
The weathering zone is not intercepted in this cross-section but appears further south from Section 3 (Figure 1). Cross-Section 1 (Figure 2) displays multiple high-grade zones that broadly align with the existing model. Low-grade zones (yellow) envelop the high-grade mineralisation and correlate well with the new drilling.
Once all the drilling results have been received, Mining Plus will have sufficient data to interrogate the results before integrating them into their model. This will guide the next steps in optimizing pit designs at the Blue Heaven deposit and additionally will help determine the number and locations of planned diamond drill holes, which will be the source of sample material for the required metallurgical testing and geotechnical analysis.
Key Next Steps
- Receipt of remaining assay results
- Mining plus continue their independent mining review
- Metallurgical test work
- Negotiations with mining contractors and processors
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
RR1:AU
Murchison South Increases to 67koz Gold Across Two Pits
HIGHLIGHTS
- Pansy Pit: Mining Plus confirms Mineral Resource Estimate (MRE) for the Pansy Pit Deposit at Murchison South:
From Surface 72kt @ 2.5g/t Au for 5,800 oz Gold (Table 1) - Blue Heaven: Mining Plus confirms MRE for the Blue Heaven deposit at Murchison South: From Surface 681kt @ 2.8 g/t Au for 61,300 oz Gold (Table 1) (ASX Announcement 9 April 2025)
- Blue Heaven and Pansy Pit MRE, together total ~67,100 oz Gold
- Pansy Pit MRE is based solely on review by Mining Plus of historical drilling
- Historical drilling was only to 60m, mineralisation open at depth and along strike north and south (Figure 2)
- The Pansy Pit has the potential to be a shallow, open pit mining operation, with mineralisation observed from surface
- Strong Gold Market: Spot gold price of ~A$5,000/oz offers significant upside versus the A$3,500/oz price used in the MRE to model pit shells
- The Pansy Pit sits within granted Mining lease M59/662 and is just over 2km from the Company’s Blue Heaven deposit and on the south side of the Great Northern Highway (Figure 3)
- The Pansy Pit provides evidence of the expansion potential along the Primrose Fault, notably to the south at the Shamrock deposit and to the north at the Pansy North and Jacamar deposits (Figure 3)
The Pansy Pit MRE is shown in Table 1 on page 3.
Figure 1. Pansy Pit rotated and unclipped longsection view looking north with the optimised pit shell in grey, drill traces as black lines and the block model coloured by classification.
Figure 2. Pansy Pit rotated cross section view looking south at ~6,762,078mN +/- 10m with the optimised pit shell in black, drill traces as black lines and the block model coloured by estimated Au grade.
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This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Odessa Minerals: Exploring for Lithium and Rare Earths in Western Australia's Resource-rich Gascoyne Region
Odessa Minerals (ASX:ODE) explores for lithium and rare earths in the Gascoyne Region with a total land package of over 3,000 square kilometres surrounded by some of the most promising projects and most significant lithium discoveries. The company is uniquely positioned to leverage a quickly emerging battery metals market to drive its fully funded lithium and rare earths exploration strategy.
Western Australia's Gascoyne region is currently in the midst of a proverbial gold rush and is now the target of several large mining and exploration companies including Delta Lithium (ASX:DLI), Voltair Strategic Resources (ASX:VSR), Minerals 260 (ASX:MI6) and Reach Resources (ASX:RR1).
Odessa Minerals’ projects in the Gascoyne Region of Western Australia totalling >3,000km2Odessa is still at the beginning of its journey but its value proposition is noteworthy making it an ideal investment alternative for consideration for anyone looking to get involved with lithium and the significant potential of the Gascoyne region.
Company Highlights
- Driven by lithium demand, Western Australia's Gascoyne region — previously under-explored — has become a hot zone of mining exploration and development.
- Some of the region's largest and most successful mining companies have already staked their claims there, including Delta Lithium and Dreadnought Resources.
- Odessa is an exploration company still at the beginning of its development journey, with a low market cap and strong leadership.
- Odessa's land package comprises one of the largest land holdings in the Gascoyne region, with some 3,000 square kilometres of claims divided into three distinct projects, all highly prospective and incredibly promising, located in close proximity and displaying similar geology to several recent lithium pegmatite discoveries in the region.
- Odessa's leadership team are all highly invested in the company. All planned exploration and development work is well-funded for the year.
- Over 56,000 metres strike-length of pegmatites have now been mapped by geology crews on Odessa’s Yinnetharra Lockier Range tenement
- Pegmatites at over 30 metres in width are already mapped
This Odessa Minerals profile is part of a paid investor education campaign.*
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Outcropping Copper Gossan Delivers 33% Cu Assays At Morrissey Hill Project, Yinnetharra
HIGHLIGHTS
- High grade copper‐oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag. (Figure 1).
- Results follow Morrissey Hill assays of up to 2.3% Li2O (ASX Announcement 15 May 2023).
- Mineralisation at the Swallowtail Copper Prospect was mapped over a strike length of at least 150m and remains open in all directions.
- Significant results include:
- 33.2% Cu, 0.2g/t Au and 141.8g/t Ag (23RRRK0039).
- 14.7% Cu, 0.02g/t Au and 55.6g/t Ag (23RRRK0042).
- 4.2% Cu, 0.3g/t Au and 5.7g/t Ag (23RRRK0041).
- 2.3% Cu, 0. 2g/t Au and 5.0g/t Ag (23RRRK0043).
- Historical sampling 3.0km’s west of Swallowtail could potentially extend the strike with historical results returned:
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation.
- Morrissey has never been drilled & geochemical surveys planned to commence next week.
Commenting on the results CEO Jeremy Bower said:
“The Morrissey Hill tenement at our Yinnetharra Project continues to deliver. These are outstanding copper results and in conjunction with the 2.3% Li20 announced earlier this week, it is clear how prospective the ground is. We’re focused on sourcing the critical and battery minerals of the future and copper is an important part of our strategy. Despite several world class copper‐gold and polymetallic base metal deposits in the East Capricorn Orogen, the West Capricorn and Gascoyne has been massively under‐ explored. We see this as a huge opportunity.
Importantly, we are fully funded to complete our field programs and drilling campaigns earmarked for this year. Our focus remains on thorough geochemical assessment of each target and getting drill rigs out to Morrissey Hill as soon as possible. This will mean consistent news flow for our shareholders over the coming months.”
FIGURE 3: Morrissey Hill showing location of the Swallowtail Prospect along Stringer Fault line
FIGURE 4: Regional location of Reach Yinnetharra projects
The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation. Systematic surface geochemical surveys including soils, stream sediment and rock chip sampling are planned to commence immediately. Results from this work will guide follow up programs which if warranted may include electromagnetic geophysical surveys and drill testing of priority targets.
The results were reported from an outcropping quartz‐veined gossan, the Swallowtail Prospect, showing visible malachite (copper‐oxide) over a strike length of approximately 150m. The gossan strikes east‐ west, appears to dip steeply towards the south and remains open in both directions. A single historical sample located some 3.0km’s west of Swallowtail, and within the same structural corridor, also reported high grade copper, gold and silver assays indicating a potential strike length of the target zone in excess of 3km’s (Refer to Figure 3).
Click here for the full ASX Release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Finlay Minerals
Investor Insight
With a strategic foothold in British Columbia’s most prospective mining belts, Finlay Minerals is an emerging copper-gold-silver exploration company with a compelling investment story, backed by a 30-year technical legacy and disciplined approach to discovery.
Overview
Finlay Minerals (TSXV:FYL,OTCQB:FYMNF) is a Vancouver-based mineral exploration company focused on advancing copper, gold and silver projects in British Columbia’s premier mining districts, particularly within the richly mineralized and productive Stikine Terrane. The company’s strategic objective is to discover and develop high-quality porphyry and epithermal deposits through a combination of geological expertise, partner-funded programs, and disciplined capital deployment.
Founders John J. Barakso and Robert Brown at the PIL Property
Finlay’s value proposition is anchored in its 2025 agreements with Freeport-McMoRan – one of the world’s largest copper producers – which is actively funding the advancement of the PIL and ATTY projects in the Toodoggone District. These earn-in agreements provide a non-dilutive path to unlock value from Finlay’s flagship assets, while enabling the company to focus internal resources on regional-scale exploration at its SAY, JJB and Silver Hope properties.
The company benefits from a seasoned technical team with regional expertise and a deep understanding of the geologic architecture of British Columbia. New exploration initiatives, such as those along the Bear Lake Corridor, position Finlay for new discovery potential across multiple fronts. With metal prices trending higher and a favorable operating environment in Canada, Finlay Minerals offers exposure to copper and gold discoveries in one of the safest and most geologically endowed jurisdictions globally.
Company Highlights
- Strategic Alliance with Freeport-McMoRan: Freeport has committed up to $35 million in exploration spending and $4.1 million in cash payments for an 80 percent interest in Finlay’s PIL and ATTY projects, validating their district-scale potential.
- Dominant Land Position in the Toodoggone District: PIL and ATTY provide direct exposure to one of BC’s most active copper-gold corridors, adjacent to Centerra’s Kemess complex and Amarc-Freeport’s AuRORA discovery.
- Unlocking the Bear Lake Corridor: The SAY and JJB properties offer large-scale exploration potential in an underexplored region analogous to major discoveries like American Eagle’s NAK and Amarc’s DUKE.
- Disciplined Exploration Focus: More than 70 percent of all capital raised has gone directly into the ground, demonstrating Finlay’s capital-efficient approach and scientific rigor.
- Proven Leadership Legacy: Founded by renowned geochemist John J. Barakso and led by a technically adept team with deep experience in BC exploration.
Key Projects
PIL
The 100 percent owned PIL property spans 13,374 hectares in the prolific Toodoggone mining district in British Columbia and was staked over 30 years ago by Finlay’s founders. It hosts multiple copper-gold-molybdenum porphyry and gold-silver epithermal targets within the 70 km regional porphyry corridor trend, situated near major deposits including Centerra Gold’s Kemess complex and the Amarc-Freeport AuRORA discovery. Notable targets on the property include PIL South (2.5 x 2.0 km soil geochemical anomaly with supported IP anomaly), Copper Ridge (soil anomaly 1.9 x 1.3 km) and Spruce (rock samples up to 18.4 percent copper). Historical drilling includes 72 holes totaling over 17,000 metres, with new targets emerging from recent geophysical and geochemical work. Past drilling includes intersections like 162.0 m of 0.1 percent copper, 0.05 grams per ton gold and 7.1 g/t silver at PIL South, highlighting the potential for bulk tonnage copper-gold systems.
Finlay has announced an earn-in agreement with Freeport-McMoRan, which may invest up to $25 million in exploration expenditures to earn 80 percent interest over six years, signaling high confidence in the PIL project's tier-1 potential. A broad and systematic exploration plan is in place for the 2025 season, involving surface sampling with updated analysis techniques, mapping and detailed geophysical surveys.
ATTY
Covering 3,875 hectares, the 100 percent owned ATTY property, also in the Toodoggone District, lies directly north of the Kemess East and Underground deposits. It shares similar stratigraphy and alteration patterns and is interpreted to host an extension of the Kemess North trend. The property hosts eight epithermal and porphyry targets, including two main targets, the KEM and Wrich targets, which have been delineated through IP surveys and/or geochemistry, pointing toward porphyry centers. Thirteen holes totaling 3,971 meters have been drilled to date, but the main IP chargeability zone remains untested at depth. With similarities to the upper Kemess East deposit and structural alignment with the adjacent Joy project (Amarc/Freeport), ATTY is considered a high-priority drill target and is fully permitted for 2025. Finlay has announced an earn-in agreement with Freeport-McMoRan, which may invest up to $10 million in exploration expenditures to earn 80 percent interest over six years, signaling high confidence in the ATTY project's tier-1 potential.
SAY
The SAY property is a 100 percent owned, early-stage exploration project covering 26,202 hectares within the underexplored Bear Lake Corridor of the Stikine Terrane. Located 140 km north of Smithers, BC, it is accessible by helicopter with logging roads nearby. The project hosts structurally controlled high-grade copper and silver mineralization at the SPUR Target, which includes the AG Zone, East Breccia and Western Shear. Recent surface sampling returned exceptional grades such as 14.5 percent copper and 850 g/t silver from East Breccia, and 11.2 percent copper and 819 g/t silver from the AG Zone. Copper and silver exposures at the AG Zone have been observed over a 200 by 200 metre area. The mineralization occurs along a 4.3 km ridgeline with strong magnetic signatures, spatially related to local faults, intrusive dykes and breccias. The SHEL target, associated with molybdenum, adds porphyry-style upside. A property-wide mag survey and extensive surface sampling program is planned in 2025 to systematically evaluate the copper potential of the SAY property.
JJB
The fully owned JJB property spans 15,453 hectares and lies 4 km north of SAY within the same Bear Lake Corridor. Named after founder John J. Barakso, this grassroots property is in the early stages of exploration but offers significant blue-sky potential. The property shares the same tectonic setting as NAK and DUKE and will benefit from the technical momentum established at SAY. Logging roads and an airstrip are within 10 km of the JJB claims, providing nearby staging areas for this heli-access project. Systematic geological mapping and sampling, alongside airborne mag surveys, are planned to generate drill targets in the near term.
Silver Hope
The Silver Hope property covers 21,322 hectares surrounding the historic Equity Silver mine in the Skeena Arch. This 100 percent owned asset hosts the Main Trend, a >2 km copper-silver-gold mineralized system extending from the Newmont owned, past-producing, Equity Silver mine. Historical drilling (over 41,000 m) has intersected broad mineralized zones, including 282 m @ 0.23 percent copper, 6.4 g/t silver and 0.01 g/t gold. Other notable intercepts include 133 m @ 0.30 percent copper and 7.6 g/t silver. The West Cu-Mo Porphyry target adds a large-scale copper-molybdenum opportunity to the mix, and the project is fully permitted for drilling.
Management Team
Ilona B. Lindsay – President, CEO and Director
Ilona Lindsay has over 15 years of experience with Finlay and is the daughter of company co-founder John J. Barakso. She has overseen corporate operations, financings and tenure management. Under her leadership, the company has transitioned toward institutional-grade exploration partnerships while maintaining fiscal discipline. She is also a director of the Barakso family companies.
Robert F. Brown – Executive Chairman
A retired professional engineer with over 40 years of experience in porphyry and epithermal systems, Robert Brown co-founded Finlay and played a critical role in identifying and acquiring its land packages. He previously served as VP exploration for Great Panther Mining and worked with LAC Minerals. His technical vision continues to shape the company’s exploration direction.
Wade Barnes – VP Exploration
Wade Barnes is a P.Geo. and Qualified Person (QP) with over 20 years of geological experience in BC. He was co-recipient of the AMEBC H.H. “Spud” Huestis Award for the discovery of Kemess East deposit in the Toodoggone. At Finlay, he leads technical execution and target development across the portfolio.
Susan Flasha – VP Corporate Development
With over two decades of industry experience, including senior roles at Pretium Resources (Brucejack Mine) and Brixton Metals, Susan Flasha brings strong expertise in project evaluation and strategic growth.
Gord Steblin – Chief Financial Officer
A CPA with over 30 years in mining finance, Gord Steblin ensures sound financial governance and supports Finlay’s budgeting, reporting and fundraising activities. He serves as CFO for several other exploration-stage companies.
Blackrock Silver Drills Multiple +1 kg/t AgEq Intercepts and Establishes Grade Continuity over 350 Metres in Final M&I Conversion Assays at Tonopah West
Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) ("Blackrock" or the "Company") announces the final set of high-grade silver and gold drill intercepts from its recently completed M&I Conversion Program (as defined herein) at its 100% owned Tonopah West project ("Tonopah West") located in Nye and Esmeralda Counties, Nevada, United States.
HIGHLIGHTS:
- TXC25-139 cut 9.05 metres grading 367 grams per tonne (g/t) silver equivalent (AgEq) (182.8 g/t silver (Ag) & 2.04 g/t gold (Au)) from 187.5 metres, including 0.82 metres grading 2,886 g/t AgEq (1,411 g/t Ag & 16.13 g/t Au), Ag/Au ratio 90:1;
- TXC25-150 drilled 2.84 metres grading 671.5 AgEq (367 g/t Ag & 3.41 g/t Au) from 162.3 metres, including 0.76 metres grading 1,554 g/t AgEq ( 819 g/t Ag & 8.14 g/t Au);
- TXC25-146 intercepted 1.16 metres of 1,111 g/t AgEq (615 g/t Ag & 5.50 g/t Au) from 189.5 metres;
- Results from the entirety of the M&I Conversion Program have validated the geologic model, successfully establishing continuity of the high-grade shoots bearing robust geometry over 350 metres. The shoots remain open to the Northwest and downdip;
- Significant new zones of near-surface mineralization were encountered during the M&I Conversion Program at higher-than-average grades updip from the existing resource shell;
- Modelling of the M&I Conversion Program drillholes is now underway with an updated mineral resource estimate on Tonopah West on track for Q3, 2025; and
- Assay results for 7 drillholes from the Company's Northwest step out resource expansion area are currently pending. (see February 24, 2025 news release)\
The Company has completed its in-fill drilling program (the "M&I Conversion Program") at Tonopah West which commenced in mid July 2024 and consisted of 62 drillholes totalling 12,580 metres (41,271 feet) within the shallow southern portion of the Bermuda-Merten vein group ("DPB") resource area (the "M&I Conversion Area"). The objective of the M&I Conversion Program is to convert between 1.0 and 1.5-million tonnes of material from inferred mineral resources to measured and indicated mineral resources. The M&I Conversion Area represents the initial years of anticipated production at Tonopah West based on the mine plan laid out in the Company's Preliminary Economic Assessment on Tonopah West (see September 4, 2024 news release).
Andrew Pollard, the Company's President and Chief Executive Officer, stated: "With all assays now received from our M&I Conversion Program, we've validated our geologic model at Tonopah West and confirmed continuous high-grade mineralization over a 350-metre zone. Results from this program featured standout grades that reinforce the Tonopah West project's position as one of the top undeveloped silver assets in the sector. In addition to strengthening confidence in known zones through tighter drill spacing, the program also outlined new near-surface zones of ultra-high-grade gold and silver mineralization, representing meaningful new tonnage potential. These results will be incorporated into an updated mineral resource estimate on Tonopah West anticipated to be completed Q3 2025, aimed at upgrading significant tonnage to the measured and indicated categories to help de-risk the early years of anticipated production."
Table 1: Tonopah West Assay Intercepts using 150 g/t AgEq cut off
| Drillhole ID | Hole Type | Program | From (m) | To (m) | Drill Interval (m) | Ag (g/t) | Au (g/t) | AgEq (g/t)(2)(3) |
| TXC25-139 | RC/Core(1) | M&I Conversion | 187.54 | 196.60 | 9.05 | 182.8 | 2.038 | 366.6 |
| Including | 187.54 | 188.37 | 0.82 | 1,411.0 | 16.133 | 2,866.4 | ||
| TXC25-141 | RC/Core(1) | M&I Conversion | 273.59 | 275.17 | 1.59 | 106.6 | 0.787 | 177.6 |
| TXC25-141 | RC/Core(1) | M&I Conversion | 447.66 | 448.27 | 0.61 | 694.9 | 7.512 | 1,372.5 |
| Including | 447.97 | 448.27 | 0.31 | 1,226.0 | 13.733 | 2,464.9 | ||
| TXC25-142 | RC/Core(1) | M&I Conversion | 347.08 | 347.60 | 0.52 | 5.1 | 1.610 | 150.3 |
| TXC25-142 | RC/Core(1) | M&I Conversion | 361.01 | 361.80 | 0.79 | 597.6 | 4.540 | 1,007.1 |
| Including | 361.01 | 361.37 | 0.37 | 1,122.0 | 8.160 | 1,858.1 | ||
| TXC25-146 | RC/Core(1) | M&I Conversion | 189.50 | 190.65 | 1.16 | 615.0 | 5.497 | 1,110.9 |
| Including | 189.95 | 190.65 | 0.70 | 920.1 | 8.330 | 1,671.6 | ||
| TXC25-147 | RC/Core(1) | M&I Conversion | 148.19 | 151.85 | 3.66 | 176.7 | 1.228 | 287.5 |
| Including | 150.88 | 151.43 | 0.55 | 704.0 | 4.250 | 1,087.4 | ||
| TXC25-147 | RC/Core(1) | M&I Conversion | 182.58 | 183.34 | 0.76 | 277.5 | 5.586 | 781.5 |
| Including | 183.00 | 183.34 | 0.34 | 315.0 | 6.620 | 912.2 | ||
| TXC25-148 | RC/Core(1) | M&I Conversion | 124.66 | 125.43 | 0.76 | 111.0 | 1.270 | 225.6 |
| TXC25-148 | RC/Core(1) | M&I Conversion | 238.35 | 240.49 | 2.13 | 198.1 | 2.383 | 413.1 |
| Including | 238.35 | 238.96 | 0.61 | 512.0 | 5.590 | 1,016.3 | ||
| TXC25-149 | RC/Core(1) | M&I Conversion | 129.36 | 129.97 | 0.61 | 491.0 | 4.570 | 903.3 |
| TXC25-149 | RC/Core(1) | M&I Conversion | 238.35 | 239.57 | 1.22 | 93.7 | 1.919 | 266.8 |
| TXC25-149 | RC/Core(1) | M&I Conversion | 252.59 | 253.59 | 1.01 | 38.2 | 2.157 | 232.8 |
| TXC25-150 | RC/Core(1) | M&I Conversion | 162.37 | 165.20 | 2.84 | 363.6 | 3.413 | 671.5 |
| Including | 163.47 | 164.23 | 0.76 | 818.9 | 8.144 | 1,553.6 | ||
| TXC25-151 | RC/Core(1) | M&I Conversion | 274.47 | 275.42 | 0.95 | 208.7 | 3.149 | 492.8 |
| (1)RC/Core = RC pre-collar with core tail. (2)AgEq = Ag + Au*(Factor); where Factor = (Au Price/Ag Price)*(Au Recovery/Ag Recovery or Factor=($1900/$23)*(95%/87%)=90.21; True thickness is 90 to 100% of interval thickness based on the modelled vein geometries. (3)Cut-off grade is 150 g/t AgEq. |
The geometry of the high-grade silver and gold is sizable with high-grade shoots plunging to the northwest and showing continuity over 350 metres within the M&I Conversion Area. These shoots remain open to the northwest and open down plunge. Multiple high-grade intercepts have been returned pursuant to the M&I Conversion Program. TXC25-139 returned over 9-metres grading 183 g/t silver and 2.04 g/t gold for 367 g/t AgEq. This intercept is immediately adjacent to mineralization found in TXC25-138 (see May 8, 2025 news release) where a composite zone of 11.46 metres of 514 g/t AgEq (290 g/t Ag & 2.48 g/t Au) was encountered. The thickness of this mineralized vein is approaching those seen in the historic mining at the Victor and Ohio mines at Tonopah West where Victor was 24 metres thick and Ohio was 15 metres thick.
The completion of the M&I Conversion Program now allows for modelling of the vein shoots and high-grade gold and silver for an updated mineral resource estimate which is anticipated to be completed this fall. Management of the Company believes the updated mineral resource estimate will show excellent continuity between the high-grade zones and an increase in confidence of the DPB portion of the mineral resource. This information will assist in the design and implementation of an exploration decline, underground test mining and extraction of a bulk sample for metallurgical processing at Tonopah West.
Table 2 shows all of the intercepts above 150 g/t AgEq encountered pursuant to the M&I Conversion Program. Approximately 65% of the drilling returned values above 150 g/t AgEq with the remaining drillholes returning mineralization, albeit below the cutoff. No drillhole in the campaign was completely barren of gold or silver.
Table 2:Significant Assays From The M&I Conversion Program Above 150 g/t AuEq Cutt Off
| Drillhole ID | Hole Type | Program | From (m) | To (m) | Drill Interval (m) | Ag (g/t) | Au (g/t) | AgEq (g/t) (2)(3) |
| TXC24-076 | RC/Core(1) | M&I Conversion | 195.62 | 195.93 | 0.31 | 99.2 | 1.440 | 229.1 |
| TXC24-080 | RC/Core(1) | M&I Conversion | 367.29 | 369.27 | 1.98 | 174.0 | 0.844 | 250.1 |
| TXC24-081 | RC/Core(1) | M&I Conversion | 181.51 | 183.49 | 1.98 | 131.9 | 1.503 | 267.5 |
| TXC24-085 | RC/Core(1) | M&I Conversion | 171.60 | 172.67 | 1.07 | 152.7 | 1.613 | 298.2 |
| TXC24-085 | RC/Core(1) | M&I Conversion | 249.48 | 252.07 | 2.59 | 32.1 | 2.740 | 279.3 |
| TXC24-087 | RC/Core(1) | M&I Conversion | 172.21 | 174.80 | 2.59 | 1,920.9 | 20.262 | 3,748.7 |
| Including | 173.74 | 174.80 | 1.07 | 4,328.3 | 46.506 | 8,523.6 | ||
| TXC24-090 | RC/Core(1) | M&I Conversion | 161.85 | 162.92 | 1.07 | 436.0 | 5.110 | 897.0 |
| TXC24-091 | RC/Core(1) | M&I Conversion | 242.32 | 244.08 | 1.77 | 111.0 | 1.060 | 206.6 |
| TXC24-091 | RC/Core(1) | M&I Conversion | 249.02 | 252.13 | 3.11 | 350.1 | 3.519 | 667.5 |
| Including | 250.55 | 252.13 | 1.59 | 469.5 | 4.931 | 914.3 | ||
| TXC24-092 | RC/Core(1) | M&I Conversion | 141.64 | 142.77 | 1.13 | 534.0 | 6.910 | 1,157.4 |
| TXC24-092 | RC/Core(1) | M&I Conversion | 145.70 | 149.05 | 3.35 | 470.6 | 5.356 | 953.8 |
| Including | 148.32 | 149.05 | 0.73 | 1,706.0 | 19.467 | 3,462.1 | ||
| TXC24-092 | RC/Core(1) | M&I Conversion | 186.02 | 187.30 | 1.28 | 303.0 | 3.660 | 633.2 |
| TXC24-094 | RC/Core(1) | M&I Conversion | 213.67 | 215.80 | 2.13 | 92.3 | 1.530 | 230.3 |
| TXC24-095 | RC/Core(1) | M&I Conversion | 192.94 | 194.62 | 1.68 | 572.7 | 5.379 | 1,057.9 |
| TXC24-095 | RC/Core(1) | M&I Conversion | 195.99 | 197.82 | 1.83 | 147.0 | 2.160 | 341.9 |
| TXC24-095 | RC/Core(1) | M&I Conversion | 238.96 | 240.03 | 1.07 | 343.7 | 3.213 | 633.5 |
| Including | 239.48 | 240.03 | 0.55 | 665.0 | 6.230 | 1,227.0 | ||
| TXC24-095 | RC/Core(1) | M&I Conversion | 242.47 | 247.50 | 5.03 | 461.5 | 3.478 | 775.3 |
| Including | 245.36 | 246.13 | 0.76 | 1,362.0 | 9.810 | 2,247.0 | ||
| TXC24-098 | RC/Core(1) | M&I Conversion | 326.75 | 327.97 | 1.22 | 265.6 | 4.097 | 635.2 |
| Including | 327.66 | 327.97 | 0.30 | 1,034.0 | 16.067 | 2,483.4 | ||
| TXC24-100 | Core | M&I Conversion | 140.97 | 143.23 | 2.26 | 530.3 | 4.085 | 898.8 |
| Including | 141.67 | 142.59 | 0.92 | 943.0 | 7.156 | 1,588.5 | ||
| TXC24-101 | Core | M&I Conversion | 137.56 | 138.84 | 1.28 | 687.2 | 6.656 | 1,287.6 |
| TXC24-101 | Core | M&I Conversion | 169.26 | 169.56 | 0.31 | 181.0 | 2.970 | 448.9 |
| TXC24-101 | Core | M&I Conversion | 255.42 | 256.49 | 1.07 | 66.4 | 1.310 | 184.6 |
| TXC24-102 | Core | M&I Conversion | 152.95 | 153.92 | 0.98 | 628.0 | 4.670 | 1,049.3 |
| Including | 153.32 | 153.92 | 0.61 | 756.0 | 6.280 | 1,322.5 | ||
| TXC24-103 | Core | M&I Conversion | 232.26 | 233.78 | 1.52 | 134.0 | 1.675 | 285.1 |
| Including | 232.26 | 232.56 | 0.31 | 660.0 | 8.230 | 1,402.4 | ||
| TXC24-104 | Core | M&I Conversion | 295.20 | 295.60 | 0.40 | 125.0 | 1.610 | 270.2 |
| TXC24-115 | RC/Core(1) | M&I Conversion | 332.54 | 336.50 | 3.96 | 375.2 | 3.154 | 659.7 |
| Including | 332.54 | 333.91 | 1.37 | 624.8 | 5.066 | 1,081.8 | ||
| TXC24-116 | RC/Core(1) | M&I Conversion | 199.34 | 199.89 | 0.55 | 987.0 | 11.467 | 2,021.4 |
| TXC24-116 | RC/Core(1) | M&I Conversion | 218.12 | 218.69 | 0.58 | 135.0 | 1.440 | 264.9 |
| TXC24-117 | RC/Core(1) | M&I Conversion | 246.46 | 247.04 | 0.58 | 105.0 | 1.460 | 236.7 |
| TXC24-117 | RC/Core(1) | M&I Conversion | 261.21 | 263.23 | 2.01 | 1,141.0 | 7.139 | 1,785.0 |
| Including | 262.83 | 263.23 | 0.40 | 3,712.0 | 26.133 | 6,069.5 | ||
| TXC24-118 | RC/Core(1) | M&I Conversion | 205.98 | 206.35 | 0.37 | 1,610.0 | 15.333 | 2,993.2 |
| TXC24-118 | RC/Core(1) | M&I Conversion | 332.17 | 332.54 | 0.37 | 91.3 | 1.280 | 206.8 |
| TXC24-119 | RC/Core(1) | M&I Conversion | 370.42 | 375.12 | 4.69 | 379.0 | 3.722 | 714.8 |
| Including | 372.16 | 373.38 | 1.22 | 770.5 | 7.757 | 1,470.3 | ||
| TXC24-121 | RC/Core(1) | M&I Conversion | 262.13 | 266.00 | 3.87 | 179.3 | 1.365 | 302.4 |
| TXC24-122 | RC/Core(1) | M&I Conversion | 270.05 | 270.97 | 0.92 | 477.7 | 4.880 | 917.9 |
| Including | 270.66 | 270.97 | 0.31 | 875.0 | 8.880 | 1,676.1 | ||
| TXC24-122 | RC/Core(1) | M&I Conversion | 337.11 | 342.32 | 5.21 | 291.7 | 3.018 | 564.0 |
| Including | 341.59 | 342.32 | 0.73 | 1,834.0 | 18.081 | 3,465.1 | ||
| TXC25-125 | RC/Core(1) | M&I Conversion | 327.97 | 329.31 | 1.34 | 118.2 | 1.336 | 238.7 |
| Including | 328.27 | 328.58 | 0.31 | 432.0 | 4.900 | 874.0 | ||
| TXC25-126 | RC/Core(1) | M&I Conversion | 319.61 | 320.22 | 0.61 | 247.8 | 2.554 | 478.2 |
| Including | 319.92 | 320.22 | 0.31 | 421.0 | 4.380 | 816.1 | ||
| TXC25-128 | RC/Core(1) | M&I Conversion | 300.81 | 302.21 | 1.40 | 244.8 | 2.070 | 431.6 |
| TXC25-128 | RC/Core(1) | M&I Conversion | 348.14 | 348.75 | 0.61 | 300.5 | 3.030 | 573.8 |
| TXC25-128 | RC/Core(1) | M&I Conversion | 427.76 | 428.46 | 0.70 | 129.0 | 1.360 | 251.7 |
| TXC25-129 | RC/Core(1) | M&I Conversion | 307.24 | 308.15 | 0.91 | 155.5 | 1.322 | 274.8 |
| TXC25-129 | RC/Core(1) | M&I Conversion | 344.94 | 345.55 | 0.61 | 237.0 | 2.520 | 464.3 |
| TXC25-131 | RC/Core(1) | M&I Conversion | 319.19 | 319.80 | 0.61 | 292.7 | 2.480 | 516.5 |
| Including | 319.49 | 319.80 | 0.31 | 584.0 | 4.940 | 1,029.6 | ||
| TXC25-132 | RC/Core(1) | M&I Conversion | 437.60 | 438.52 | 0.92 | 125.8 | 1.804 | 288.6 |
| TXC25-138 | RC/Core(1) | M&I Conversion | 230.40 | 234.64 | 4.24 | 378.5 | 3.572 | 700.7 |
| Including | 232.72 | 233.02 | 0.31 | 1,805.0 | 15.267 | 3,182.2 | ||
| TXC25-138 | RC/Core(1) | M&I Conversion | 236.68 | 241.86 | 5.18 | 328.2 | 2.528 | 556.3 |
| Including | 238.35 | 238.66 | 0.31 | 1,987.0 | 15.000 | 3,340.2 | ||
| TXC25-139 | RC/Core(1) | M&I Conversion | 187.54 | 196.60 | 9.05 | 182.8 | 2.038 | 366.6 |
| Including | 187.54 | 188.37 | 0.82 | 1,411.0 | 16.133 | 2,866.4 | ||
| TXC25-140 | RC/Core(1) | M&I Conversion | 362.90 | 363.81 | 0.91 | 335.6 | 3.803 | 678.7 |
| Including | 362.90 | 363.20 | 0.30 | 371.0 | 4.310 | 759.8 | ||
| TXC25-140 | RC/Core1 | M&I Conversion | 378.11 | 380.09 | 1.98 | 96.0 | 1.215 | 205.6 |
| Including | 379.05 | 380.09 | 1.04 | 136.5 | 1.787 | 297.7 | ||
| TXC25-141 | RC/Core(1) | M&I Conversion | 273.59 | 275.17 | 1.59 | 106.6 | 0.787 | 177.6 |
| TXC25-141 | RC/Core(1) | M&I Conversion | 447.66 | 448.27 | 0.61 | 694.9 | 7.512 | 1,372.5 |
| Including | 447.97 | 448.27 | 0.31 | 1,226.0 | 13.733 | 2,464.9 | ||
| TXC25-142 | RC/Core(1) | M&I Conversion | 347.08 | 347.60 | 0.52 | 5.1 | 1.610 | 150.3 |
| TXC25-142 | RC/Core(1) | M&I Conversion | 361.01 | 361.80 | 0.79 | 597.6 | 4.540 | 1,007.1 |
| Including | 361.01 | 361.37 | 0.37 | 1,122.0 | 8.160 | 1,858.1 | ||
| TXC25-146 | RC/Core(1) | M&I Conversion | 189.50 | 190.65 | 1.16 | 615.0 | 5.497 | 1,110.9 |
| Including | 189.95 | 190.65 | 0.70 | 920.1 | 8.330 | 1,671.6 | ||
| TXC25-147 | RC/Core(1) | M&I Conversion | 148.19 | 151.85 | 3.66 | 176.7 | 1.228 | 287.5 |
| Including | 150.88 | 151.43 | 0.55 | 704.0 | 4.250 | 1,087.4 | ||
| TXC25-147 | RC/Core(1) | M&I Conversion | 182.58 | 183.34 | 0.76 | 277.5 | 5.586 | 781.5 |
| Including | 183.00 | 183.34 | 0.34 | 315.0 | 6.620 | 912.2 | ||
| TXC25-148 | RC/Core(1) | M&I Conversion | 124.66 | 125.43 | 0.76 | 111.0 | 1.270 | 225.6 |
| TXC25-148 | RC/Core(1) | M&I Conversion | 238.35 | 240.49 | 2.13 | 198.1 | 2.383 | 413.1 |
| Including | 238.35 | 238.96 | 0.61 | 512.0 | 5.590 | 1,016.3 | ||
| TXC25-149 | RC/Core(1) | M&I Conversion | 129.36 | 129.97 | 0.61 | 491.0 | 4.570 | 903.3 |
| TXC25-149 | RC/Core(1) | M&I Conversion | 238.35 | 239.57 | 1.22 | 93.7 | 1.919 | 266.8 |
| TXC25-149 | RC/Core(1) | M&I Conversion | 252.59 | 253.59 | 1.01 | 38.2 | 2.157 | 232.8 |
| TXC25-150 | RC/Core(1) | M&I Conversion | 162.37 | 165.20 | 2.84 | 363.6 | 3.413 | 671.5 |
| Including | 163.47 | 164.23 | 0.76 | 818.9 | 8.144 | 1,553.6 | ||
| TXC25-151 | RC/Core(1) | M&I Conversion | 274.47 | 275.42 | 0.95 | 208.7 | 3.149 | 492.8 |
| (1)RC/Core = RC pre-collar with core tail. (2)AgEq = Ag + Au*(Factor); where Factor = (Au Price/Ag Price)*(Au Recovery/Ag Recovery or Factor=($1900/$23)*(95%/87%)=90.21; True thickness is 90 to 100% of interval thickness based on the modelled vein geometries. (3)Cut-off grade is 150 g/t AgEq. |
Figure 1: Tonopah West project showing NI43-101 resource location and expansion potential
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/255788_d1bf53a51451fba6_001full.jpg
Figure 2 is a plan map showing the location of all the drillholes completed under the M&I Conversion Program and highlighting those reported in this news release.
Figure 2: Drillhole location map of the M&I Conversion Program showing drillholes reported in this news release.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/255788_d1bf53a51451fba6_002full.jpg
Table 3: Tonopah West Drillhole Location Coordinates (based on GPS readings in the field, Datum UTM, NAD 1927, Zone 11)
| Drillhole ID | Area | Program | Type | UTM_NAD27 E | UTM_NAD27 N | Elevation (m) | Depth (ft) | Depth (m) | Azimuth | Dip |
| TXC25-137 | DPB South | M&I Conversion | RC/Core | 477930.7 | 4213330.8 | 1776.3 | 1028.0 | 313.3 | 180 | -62 |
| TXC25-139 | DPB South | M&I Conversion | RC/Core | 477980.6 | 4213246.5 | 1778.4 | 1061.0 | 323.4 | 180 | -67 |
| TXC25-141 | DPB South | M&I Conversion | RC/Core | 477826.6 | 4213599.2 | 1770.7 | 1647.0 | 502.0 | 180 | -62 |
| TXC25-142 | DPB South | M&I Conversion | RC/Core | 477905.7 | 4213694.6 | 1772.9 | 1717.0 | 523.3 | 180 | -50 |
| TXC25-146 | DPB South | M&I Conversion | RC/Core | 478081.5 | 4213327.2 | 1780.6 | 912.0 | 278.0 | 180 | -60 |
| TXC25-147 | DPB South | M&I Conversion | RC/Core | 478067.5 | 4213281.7 | 1781.7 | 953.5 | 290.6 | 180 | -60 |
| TXC25-148 | DPB South | M&I Conversion | RC/Core | 478073.8 | 4213237.8 | 1781.8 | 979.0 | 298.4 | 180 | -60 |
| TXC25-149 | DPB South | M&I Conversion | RC/Core | 478101.9 | 4213225.4 | 1783.3 | 902.0 | 274.9 | 180 | -60 |
| TXC25-150 | DPB South | M&I Conversion | RC/Core | 478107.8 | 4213270.4 | 1783.1 | 897.5 | 273.6 | 180 | -60 |
| TXC25-151 | DPB South | M&I Conversion | RC/Core | 478104.9 | 4213335.4 | 1781.1 | 943.0 | 287.4 | 180 | -60 |
Quality Assurance/ Quality Control
All sampling is conducted under the supervision of the Company's project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The RC and core samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company's instructions.
The RC samples are lined out at the lab and logged in to AAL's system. The core samples are cut using core saws and personnel at AAL's facility in Sparks, Nevada according to the Company's instructions delivered with each core hole.
All samples are dried, crushed to 85% passing 10 mesh (2mm) and a 250-gram sub-sample split is collected and pulverized to 200 mesh (74 micron) in a ring and puck pulverizer. Then the pulverized material is digested and analyzed for gold using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Over limits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified reference material approximately every 15th to 20th sample.
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 National Instrument 43-101 - Standards of Disclosure for Mineral Projects. 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 anticipated objectives and results from the Company's drill programs at Tonopah West; the incorporation of the results from the M&I Conversion Program in an updated mineral resource estimate on Tonopah West and the anticipated timing of release thereof; 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