
Multiple Drillholes Confirm High-Grade Silver and Gold over Significant Widths Along a 500 Metre Trend in Final Assays from Resource Expansion Program
ÂHIGHLIGHTS:
Final Assay Results from the M&I Conversion Program Confirm High-Grade Continuity of Gold and Silver Mineralization over 350 Metres in the M&I Conversion Area
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:
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
Blackrock Silver Corp. is focused on its Nevada portfolio of properties consisting of low-sulphidation epithermal gold & silver projects located along the Northern Nevada Rift in Nevada and the Walker Lane trend in western Nevada. Its Tonopah project represents the Western extension of the famed Tonopah Silver district, and an optimized inferred maiden resource of 2.9 mil tons grading at 446 g/t AgEq for 42.6 mil oz AgEq, making it the highest-grade undeveloped silver projects in the world.
Multiple Drillholes Confirm High-Grade Silver and Gold over Significant Widths Along a 500 Metre Trend in Final Assays from Resource Expansion Program
ÂHIGHLIGHTS:
Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) ("Blackrock" or the "Company") announces the final set of assay results from its Resource Expansion Program (defined below) showing significant width and high-grade silver and gold drill intercepts in step-out drilling at its 100% owned Tonopah West project ("Tonopah West") located in Nye and Esmeralda Counties, Nevada, United States.
ÂBlackrock's resource expansion program at Tonopah West (the "Resource Expansion Program"), which commenced in September 2024, consisted of 18 drillholes totalling 10,802 metres (35,438 feet) of drilling, targeted expansion potential along a one-kilometre northwest trend between the Denver-Paymaster and Bermuda-Merten vein groups ("DPB") south resource area and the Northwest ("NW") Step Out resource area.
ÂThe aim of the Resource Expansion Program is to increase the size of the Tonopah West resource footprint and to allow evaluation and inclusion of the NW Step Out resource in an updated preliminary economic assessment to be completed on Tonopah West. This final batch of assay results from the Resource Expansion Program tracked high-grade gold and silver mineralization across significant widths spanning 500 metres from the existing DPB resource area to the northwest.
ÂAndrew Pollard, the Company's President and Chief Executive Officer, stated: "Final assays from our Resource Expansion Program have confirmed thick, high-grade silver and gold mineralization extending 500 metres beyond the current DPB resource, with standout intercepts including 10.1 metres grading 467 g/t AgEq and 11.6 metres of 327 g/t AgEq. These results reinforce the scale and continuity of the NW vein system and underscore the strong potential to materially expand the resource and extend mine life at Tonopah West. With our geologic model in hand, drill targeting is now underway for the remaining 500-metre gap of vein corridor that aims to fully bridge mineralization to our NW Step Out deposit."
ÂTable 1:Significant Assays from the Resource Expansion Program Above 150 g/t AgEq Cut-Off
ÂDrillhole ID | ÂHole Type | ÂProgram | ÂFrom  (m) |  To (m) | ÂDrill  Interval (m) |  Ag (g/t) | ÂAu (g/t) | ÂAgEq  (g/t) | Â
TXC25-144 | ÂRC/Core | ÂResource Expansion | Â393.04 | Â403.16 | Â10.12 | Â283.2 | Â2.040 | Â467.2 | Â
Including | Â395.78 | Â399.29 | Â3.51 | Â620.2 | Â4.426 | Â1,019.5 | Â||
TXC25-145 | ÂRC/Core | ÂResource Expansion | Â351.13 | Â353.45 | Â2.32 | Â241.8 | Â1.760 | Â400.6 | Â
TXC25-145 | ÂRC/Core | ÂResource Expansion | Â361.37 | Â372.95 | Â11.58 | Â186.1 | Â1.559 | Â326.7 | Â
Including | Â361.37 | Â362.04 | Â0.67 | Â2,007.6 | Â13.928 | Â3,264.1 | Â||
TXC25-145 | ÂRC/Core | ÂResource Expansion | Â379.17 | Â380.03 | Â0.85 | Â166.6 | Â1.491 | Â301.2 | Â
TXC25-152 | ÂRC/Core | ÂResource Expansion | Â454.06 | Â454.58 | Â0.52 | Â45.9 | Â0.611 | Â101.0 | Â
TXC25-153 | ÂRC/Core | ÂResource Expansion | Â439.37 | Â445.10 | Â5.73 | Â95.8 | Â0.672 | Â156.4 | Â
Including | Â444.40 | Â445.10 | Â0.70 | Â437.0 | Â3.180 | Â723.9 | Â||
TXC25-155 | ÂRC/Core | ÂResource Expansion | Â413.86 | Â414.83 | Â0.98 | Â109.7 | Â0.982 | Â198.3 | Â
AgEq = Ag + Au*(Factor); where Factor = (Au Price/Ag Price)*(Au Recovery/Ag Recovery or Factor=($1,900/$23)*(95%/87%)=90.21; True thickness is 50% to 70% of drill interval; Cut-off grade is 150 g/t AgEq; Reverse Circulation (RC)/Core = RC pre-collar with core tail; Core is core from the surface. |
Â
ÂTable 2: Significant Assays From the entire Resource Expansion Program Above 150 g/t AgEq Cut Off highlighting the grade and thickness of the zone over 500 metres
ÂDrillhole ID | ÂHole Type | ÂProgram | ÂFrom (m) |  To (m) | ÂDrill  Interval (m) |  Ag (g/t) | ÂAu (g/t) | ÂAgEq  (g/t) | Â
TXC24-113 | ÂRC/Core | ÂResource Expansion | Â478.08 | Â478.39 | Â0.31 | Â614.0 | Â7.140 | Â1,256.7 | Â
TXC24-113 | ÂRC/Core | ÂResource Expansion | Â503.13 | Â504.66 | Â1.52 | Â116.8 | Â0.904 | Â198.2 | Â
TXC24-113 | ÂRC/Core | ÂResource Expansion | Â538.43 | Â540.11 | Â1.68 | Â364.0 | Â0.033 | Â367.0 | Â
TXC24-114 | ÂRC/Core | ÂResource Expansion | Â394.08 | Â395.63 | Â1.55 | Â93.9 | Â1.553 | Â233.7 | Â
Including | Â394.08 | Â394.41 | Â0.34 | Â288.0 | Â5.270 | Â762.4 | Â||
TXC25-123 | ÂRC/Core | ÂResource Expansion | Â436.87 | Â437.54 | Â0.67 | Â182.0 | Â1.690 | Â334.1 | Â
TXC25-123 | ÂRC/Core | ÂResource Expansion | Â471.83 | Â474.88 | Â3.05 | Â225.4 | Â2.412 | Â442.5 | Â
Including | Â471.83 | Â472.14 | Â0.31 | Â2,223.0 | Â23.467 | Â4,335.3 | Â||
TXC25-124 | ÂRC/Core | ÂResource Expansion | Â370.03 | Â378.62 | Â8.60 | Â121.6 | Â1.233 | Â232.6 | Â
Including | Â371.55 | Â372.31 | Â0.76 | Â778.6 | Â7.854 | Â1,485.6 | Â||
TXC25-124 | ÂRC/Core | ÂResource Expansion | Â407.40 | Â410.26 | Â2.87 | Â176.8 | Â1.785 | Â337.5 | Â
Including | Â407.40 | Â407.76 | Â0.37 | Â1,344.0 | Â13.500 | Â2,559.2 | Â||
TXC25-144 | ÂRC/Core | ÂResource Expansion | Â393.04 | Â403.16 | Â10.12 | Â283.2 | Â2.040 | Â467.2 | Â
Including | Â395.78 | Â399.29 | Â3.51 | Â620.2 | Â4.426 | Â1,019.5 | Â||
TXC25-145 | ÂRC/Core | ÂResource Expansion | Â351.13 | Â353.45 | Â2.32 | Â241.8 | Â1.760 | Â400.6 | Â
TXC25-145 | ÂRC/Core | ÂResource Expansion | Â361.37 | Â372.95 | Â11.58 | Â186.1 | Â1.559 | Â326.7 | Â
Including | Â361.37 | Â362.04 | Â0.67 | Â2,007.6 | Â13.928 | Â3,264.1 | Â||
TXC25-145 | ÂRC/Core | ÂResource Expansion | Â379.17 | Â380.03 | Â0.85 | Â166.6 | Â1.491 | Â301.2 | Â
TXC25-152 | ÂRC/Core | ÂResource Expansion | Â454.06 | Â454.58 | Â0.52 | Â45.9 | Â0.611 | Â101.0 | Â
TXC25-153 | ÂRC/Core | ÂResource Expansion | Â439.37 | Â445.10 | Â5.73 | Â95.8 | Â0.672 | Â156.4 | Â
Including | Â444.40 | Â445.10 | Â0.70 | Â437.0 | Â3.180 | Â723.9 | Â||
TXC25-155 | ÂRC/Core | ÂResource Expansion | Â413.86 | Â414.83 | Â0.98 | Â109.7 | Â0.982 | Â198.3 | Â
AgEq = Ag + Au*(Factor); where Factor = (Au Price/Ag Price)*(Au Recovery/Ag Recovery or Factor=($1,900/$23)*(95%/87%)=90.21; True thickness is 50% to 70% of drill interval; Cut-off grade is 150 g/t AgEq; RC/Core = RC pre-collar with core tail; Core is core from the surface. |
Â
ÂThe NW vein system is located along contacts between lithologic units and forms a wide anastomosing and intersecting network of veins and breccias within the West End Rhyolite package. The veins dip approximately 55 degrees to the northeast and show excellent continuity over approximately 500 metres of strike.
ÂTXC25-124, -144, and TXC25-145 have especially wide zones above the 150 g/t AgEq cut off. TXC25-154 returned an exceptionally wide zone of low-grade over 17.1 metres with 0.154 g/t Au and 25.8 g/t Ag. These drillhole intercepts show the system has strength and ability to mineralize a large volume of rock.
ÂThe position, orientation and character of the NW vein system is consistent with the outer ring structure of the Fraction caldera marked farther south by the Merten vein. The mineralization is open to the northwest and down dip to the northeast giving ample room for additional resource expansion of the Tonopah West silver and gold system.
ÂGeologic cross sections are being constructed to better understand the silver and gold system to the northwest. Targeting is now underway to bridge mineralization on remaining 500 metres of vein corridor to NW Step Out resource area.
 ÂFigure 1: Tonopah West showing NI 43-101 resource location and expansion potential
ÂTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/258053_79e345b1a42359cd_001full.jpg
Figure 2 is a plan map showing the location of all the drillholes in the Resource Expansion Program and highlighting those drillholes reported in this news release.
 ÂFigure 2: Drillhole location map of the Resource Expansion Program showing drillholes reported in this news release.
ÂTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/258053_79e345b1a42359cd_002full.jpg
Figure 3: Northeast-southwest oriented cross section along TXC25-145, looking northwest, showing the anastomosing vein character of the intercepts
ÂTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/258053_79e345b1a42359cd_003full.jpg
Table 3: Tonopah West Drillhole Location Coordinates (based on GPS readings in the field, Datum UTM, NAD 1927, Zone 11)
ÂDrillhole ID | ÂArea | ÂProgram | ÂType | ÂUTM_NAD27 E |  UTM_NAD27 N |  Elevation (m) |  Depth (ft) |  Depth (m) |  Azimuth | ÂDip | Â
TXC24-106 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â476887.1 | Â4214846.1 | Â1746.6 | Â2528.0 | Â770.5 | Â270 | Â-80 | Â
TXC24-107 | ÂNW Step Out | ÂResource Expansion | ÂLost | Â476889.2 | Â4214843.0 | Â1746.9 | Â387.0 | Â118.0 | Â230 | Â-65 | Â
TXC24-108 | ÂNW Step Out | ÂResource Expansion | ÂCore | Â476891.5 | Â4214844.8 | Â1747.3 | Â2340.5 | Â713.4 | Â230 | Â-65 | Â
TXC24-109 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â476911.1 | Â4214747.8 | Â1748.0 | Â2157.0 | Â657.5 | Â270 | Â-80 | Â
TXC24-110 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â476925.9 | Â4214639.9 | Â1744.1 | Â2157.0 | Â657.5 | Â270 | Â-80 | Â
TXC24-111 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477058.8 | Â4214642.7 | Â1747.6 | Â2325.0 | Â708.7 | Â230 | Â-65 | Â
TXC24-112 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477316.7 | Â4214181.8 | Â1751.9 | Â2418.0 | Â737.0 | Â290 | Â-65 | Â
TXC24-113 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477311.2 | Â4214181.0 | Â1751.7 | Â1772.0 | Â540.1 | Â220 | Â-75 | Â
TXC24-114 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477403.8 | Â4214041.9 | Â1757.9 | Â2028.0 | Â618.1 | Â220 | Â-75 | Â
TXC25-123 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477508.7 | Â4214018.0 | Â1767.1 | Â1648.0 | Â502.3 | Â180 | Â-65 | Â
TXC25-124 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477647.0 | Â4213941.2 | Â1763.5 | Â1724.0 | Â525.5 | Â180 | Â-60 | Â
TXC25-143 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477497.8 | Â4213983.1 | Â1766.9 | Â1938.0 | Â590.7 | Â220 | Â-78 | Â
TXC25-144 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477587.9 | Â4213900.1 | Â1766.1 | Â2047.0 | Â623.9 | Â220 | Â-78 | Â
TXC25-145 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477630.4 | Â4213865.9 | Â1764.5 | Â1927.0 | Â587.3 | Â220 | Â-77 | Â
TXC25-152 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477397.8 | Â4214095.5 | Â1755.0 | Â2011.0 | Â613.0 | Â220 | Â-77 | Â
TXC25-153 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477541.2 | Â4213943.8 | Â1763.7 | Â1927.0 | Â587.3 | Â220 | Â-78 | Â
TXC25-154 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477356.1 | Â4214144.1 | Â1754.0 | Â2105.5 | Â641.8 | Â220 | Â-77 | Â
TXC25-155 | ÂNW Step Out | ÂResource Expansion | ÂRC/Core | Â477435.7 | Â4214030.9 | Â1758.0 | Â1998.0 | Â609.0 | Â220 | Â-78 | Â
Â
ÂQuality Assurance/ Quality Control
ÂAll 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.
ÂThe 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.
ÂAll 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.
ÂQualified Persons
ÂBlackrock'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 ("NI 43-101"). He has reviewed and approved the contents of this news release.
ÂAbout Blackrock Silver Corp.
ÂBacked 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.
ÂAdditional 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.
ÂCautionary Note Regarding Forward-Looking Statements and Information
ÂThis 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 timing of completion of the Company's drill program at Tonopah West and the anticipated objectives and results therefrom; mineral resource expansion potential at Tonopah West, including the Company's intention to fully bridge mineralization between the DPB south resource area and the NW Step Out resource area; the completion of an updated preliminary economic assessment on 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.
ÂThese 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.
ÂThe 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.
ÂForward-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.
ÂNeither 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.
ÂFor Further Information, Contact:
ÂAndrew Pollard
President and Chief Executive Officer
(604) 817-6044
info@blackrocksilver.comÂ
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258053
ÂNews Provided by Newsfile via QuoteMedia
Canadian Gold Resources Ltd. (TSXV: CAN) ("Canadian Gold" or the "Company") is pleased to announce that it has received all required permits from the Government of Québec to proceed with a bulk sampling program with plans to test between 5,000 to 10,000 tonnes of mineralized materials at its 100%-owned Lac Arsenault Gold Project, located in the Gaspé region of eastern Québec. The bulk sample is intended for exploration purposes only and is not considered a production decision.
As a condition of the permit, the Company is required to drill three (3) shallow water monitoring wells in the vicinity of the proposed sampling area to identify potential groundwater presence. If water tables are encountered, baseline water quality testing will be conducted both before and after the program. Canadian Gold fully supports this requirement as part of its commitment to responsible exploration and environmental stewardship.
Next Steps
With permits secured, Canadian Gold will now begin preparations for mobilizing personnel and equipment to site. In the coming weeks, the Company will finalize agreements with drilling, excavation, and haulage contractors, complete the required water wells, and install temporary infrastructure to support safe operations near the Baker and Mersereau veins. Once site preparation is complete, material sampling is anticipated to commence and continue for approximately three weeks. The sampled material will be transported to a third-party facility for off-site processing and analysis. Updates will be provided as results become available, including recoveries and implications for future exploration planning.
Management Commentary
Ron Goguen, President & CEO of Canadian Gold, commented:
"Receiving this permit is a major milestone in the advancement of our Lac Arsenault Project. This program is designed to evaluate the technical and geological characteristics of the near-surface mineralization. Historical work conducted by Imperial and Esso Minerals in the 1970s reported a historical estimate of approximately 40,000 tonnes grading 15.43 g/t gold and 197 g/t silver (Stevenson, L., 1975, Geological Report on the Lac Arsenault Property, Esso Minerals Canada). A subsequent 1996 report revised the estimate to 199,580 tonnes grading 9.59 g/t gold, or approximately 61,536 contained ounces (Côté, R., 1996, Lac Arsenault Project Resource Evaluation, Unpublished Internal Report). While these historical estimates do not comply with current CIM standards, they indicate strong historical interest in this high-grade system. Additional core drilling, systematic surface sampling, and database verification will be required to validate the data and assess whether a current resource can be defined."
Clarification on Economic Potential
While Canadian Gold is encouraged by the opportunity to generate technical and metallurgical data from the bulk sample, no economic analysis has been completed, and there are no mineral reserves at Lac Arsenault. Any references to possible revenue from sample processing are entirely speculative and do not demonstrate economic viability. There is no production decision and no feasibility study has been conducted. Should positive results occur, proceeds may be allocated toward working capital, additional exploration, or future shareholder returns, but no production decision or dividend policy has been made at this time. There is no assurance that results will support future exploration or development decisions.
Figure 1 - Aerial view of the Lac Arsenault Project showing the Baker and Mersereau vein system areas. The upcoming bulk sample will be extracted from these zones.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11663/258860_96b60e43f467fb2b_001full.jpg
Historical Resource Estimate Disclosure (NI 43-101 2.4)
The Company refers to the following historical estimates:
These historical estimates were based on underground sampling and trenching using manual polygonal methods. The estimates are relevant as they reflect historical interpretations, but they pre-date NI 43-101 and do not comply with current CIM Definition Standards. A Qualified Person has not completed sufficient work to classify the estimates as current mineral resources or mineral reserves. The Company is not treating the estimates as current, and further verification is required.
To bring these historical estimates into compliance with current CIM standards, the Company anticipates conducting:
The Company believes the planned exploration bulk sample will provide critical geological, grade continuity, and metallurgical information to support this process.
About the Lac Arsenault Project
The Lac Arsenault Project is located in Québec's Gaspé region and hosts multiple high-grade epithermal-style vein systems including the Baker, Mersereau, and Dunning veins. The project lies along the Grand Pabos Fault, a regional structure within the Gaspé-Newfoundland tectonic belt that shares characteristics with other productive gold systems, such as the Cadillac-Larder Lake Fault Zone (Abitibi) and the Cape Ray-Valentine Lake Shear Zone (Newfoundland), which are known to host multi-million-ounce deposits.
Surface Sample Highlights
Baker Vein
Sample ID | Au (g/t) | Ag (g/t) | Pb (%) |
BVA2025-004 | 28.9 | 306 | – |
BVA2025-006 | 22.9 | 399 | 17.8 |
BVA2025-008 | 5.32 | 452 | 25.7 |
Historical* | 32.83 | – | – |
Historical* | 15.43 | 197 | 6.6 |
Mersereau Vein
Sample ID | Au (g/t) | Ag (g/t) | Pb (%) |
MERS-1 | 25.5 | 447 | 18.4 |
Historical* | 39.7 | 77.3 | 0.88 |
Historical* | 13.4 | 109 | 4.69 |
Historical* | 5.16 | 194 | 5.13 |
* Historical results are cited from Stevenson (1975). These assays are not compliant with NI 43-101 and are provided for reference only. Surface samples are selective in nature and may not reflect the average grade or continuity of mineralization.
Note: The 2025 surface sample results shown above were previously disclosed in the Company's news release dated July 9, 2025, which included complete QA/QC protocols and analytical methods in accordance with NI 43-101.
The purpose of the permitted bulk sample is to evaluate grade continuity, test metallurgical recoveries, and gather data to inform future exploration and development decisions. The Company cautions that this bulk sampling initiative is not based on a feasibility study of mineral reserves demonstrating economic or technical viability. As such, the technical and economic outcomes are uncertain, and there is a higher risk of failure. The bulk sample program is exploratory in nature.
About Canadian Gold Resources Ltd.
Canadian Gold Resources Ltd. is a Canadian junior exploration company advancing a portfolio of precious metals projects in Québec. The Company's flagship asset is the Lac Arsenault Project, where a fully permitted bulk sampling program of up to 10,000 tonnes is now ready to get underway. Canadian Gold also holds interests in other highly prospective properties in the Gaspé Peninsula and remains committed to discovery-driven growth.
Qualified Person Statement:
The scientific and technical information in this news release has been reviewed and approved by Mark Smethurst, P.Geo., a Director of Canadian Gold and a Qualified Person as defined under NI 43-101.
For Further Information, Please Contact:
Ron Goguen
President & CEO, Canadian Gold Resources Ltd.
rongoguen@cdngold.com
+1 (506) 383-4274
Investor Relations
investors@cdngold.com
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. These include, but are not limited to, statements regarding exploration plans, the timing and execution of the bulk sample program, and the potential results or economic implications of the program. Forward-looking statements are based on numerous assumptions and subject to known and unknown risks. There is no assurance that the bulk sample will achieve its intended objectives or lead to a compliant resource estimate or economic development. Readers are cautioned not to place undue reliance on such statements. The Company disclaims any obligation to update or revise forward-looking statements except as required by 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.
Sranan Gold Corp. (CSE: SRAN) (FSE: P84) (Tradegate: P84) ("Sranan" or the "Company") invites investors to attend the Company's upcoming live webinar presentation and audience Q&A.
CEO Oscar Louzada will provide an overview of the Company's 29,000-hectare Tapanahony Project in Suriname, where historical drilling and artisanal mining underscore the project's resource potential, and a sufficiently funded drilling campaign is set to commence imminently.
The webinar will be a live, interactive online event where attendees can ask the presenter questions. A recording will be available for those who cannot join the live event.
Event: Presentation and Q&A with Sranan Gold Corp. hosted by Radius Research
Presentation Date & Time: Thursday, July 17, 2025 at 12:00PM Eastern Time / 9:00AM Pacific Time
Webcast Registration Link:Â https://us02web.zoom.us/webinar/register/5217520835419/WN_k-jVtrbsRY2cRugxL6RHSgÂ
This webinar is hosted by Radius Research, part of Market Radius Capital, Inc. and hosted by Martin Gagel, a former top-ranked sell-side technology and special situations analyst.
About Sranan Gold
Sranan Gold Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Suriname. The highly prospective Tapanahony Project is located in the heart of Suriname's modern-day gold rush. Tapanahony covers 29,000 hectares in one of the oldest and largest small-scale mining areas in Suriname. There is significant production from saprolite by local miners along a 4.5-kilometre trend, where several areas of mining have been opened.
Sranan Gold is also exploring its Aida Property consisting of five mineral claims covering an area of 2,335.42 hectares on the Shuswap Highland within the Kamloops Mining Division. For more information, visit sranangold.com.
Information contact
Oscar Louzada, CEO
+31 6 25438975
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
Forward-looking statements
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company's exploration plans and results at its projects. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258809
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.