Mr. Andrew Pollard of Blackrock reports
BLACKROCK SILVER'S PARTNER, TEARLACH, COMPLETES CORE PROGRAM WITH SIGNIFICANT LITHIUM ZONES REPORTED IN ALL DRILLHOLES AT TONOPAH NORTH
Blackrock Silver Corp. partner Tearlach Resources Ltd. has provided assay results for three new core stepout drill holes (GAB-013, 016 and 019) at the company's Tonopah North lithium project in Tonopah, Nev. These newly reported holes intersected broad lithium-mineralized zones with many intervals exceeding 1,000 parts per million and grades up to 1,300 ppm. With all results received and reported from the phase 1, 11 core drill hole program, Tearlach intersected significant grade and thickness of lithium mineralization in every drill hole. Assays show higher than expected lithium values as compared with the original discovery drilling and have established an expanded mineralized blanket covering an area 2.6 kilometres by 2.8 kilometres or 7.3 square kilometres. Based on Tearlach's results, the zone appears to be open to the north, south and west.
Andrew Pollard, president and chief executive officer of Blackrock, commented: "With each drill hole from our partner-funded phase 1 core program hitting broad, thick zones of mineralization across a 7.3-square-kilometre area, the results signal significant tonnage potential, with a grade profile that is in line with other more advanced projects on the Tonopah lithium belt, including the adjacent TLC deposit (owned by American Lithium Corp). The project has come a long way since the initial discovery was made less than one year ago by Blackrock, and we're excited for Tearlach to get geologic modelling of the data under way on this largely open system. With both silver and lithium to play crucial roles within the emerging green economy, the company's landholdings in Tonopah, complete with one of the highest-grade undeveloped silver/gold resources in the world, in addition to the adjacent lithium discovery quickly being advanced, uniquely position Blackrock as a potential domestic provider of these critical metals."
The following data were reported for the Gabriel project in the May 17, 2023, news release issued by Tearlach.
Highlights
The attached table is a compilation of all phase 1 core drill holes. Each hole intersected a zone of lithium mineralization, at a cut-off grade of 400 parts per million (ppm). Primary intercept grades range between 535 and 802 ppm and interval lengths between 27.1 (8.4 metres) and 146.6 feet (44.7 m). The phase 1 program has been drilled within a general area of 8,530 feet (2.6 km) by 9,190 feet (2.8 km).
CONSOLIDATED LITHIUM RESULTS FOR TONOPAH NORTH (GABRIEL)
USING A 400 PPM LI CUT-OFF
Gabriel phase 1 consolidated lithium results
From To Interval From To Interval Li
Hole ID (ft) (ft) (ft) (m) (m) (m) (ppm)
GAB-004 118.2 145.3 27.1 36.0 44.3 8.3 703
Including 142.9 145.3 2.4 43.6 44.3 0.7 1,060
GAB-005 251.4 345.6 94.2 76.6 105.3 28.7 541
Including 258.5 276.1 17.6 78.8 84.2 5.4 860
Including 274.2 276.1 1.9 83.6 84.2 0.6 1,390
GAB-006 80.5 119.4 38.9 24.5 36.4 11.9 401
GAB-006 164.1 242.0 77.9 50.0 73.8 23.7 707
Including 182.6 220.0 37.4 55.7 67.1 11.4 939
Including 191.5 217.0 25.5 58.4 66.1 7.8 1,018
Including 199.2 204.5 5.3 60.7 62.3 1.6 1,220
GAB-008 206.0 333.0 127.0 62.8 101.5 38.7 574
Including 314.2 318.5 4.3 95.8 97.1 1.3 1,310
GAB-009 24.0 170.6 146.6 7.3 52.0 44.7 662
Including 134.4 170.6 36.2 41.0 52.0 11.0 879
Including 147.4 154.4 7.0 44.9 47.1 2.1 1,030
GAB-012 184.0 315.0 131.0 56.1 96.0 39.9 658
Including 281.7 315.0 33.3 85.9 96.0 10.1 1,196
Including 287.6 296.5 8.9 87.7 90.4 2.7 1,460
GAB-013 133.2 249.1 115.9 40.6 75.9 35.3 645
Including 214.0 249.1 35.1 65.2 75.9 10.7 914
Including 221.8 228.1 6.3 67.6 69.5 1.9 1,300
GAB-016 76.0 164.0 88.0 23.2 50.0 26.8 495
Including 87.0 94.0 7.0 26.5 28.7 2.1 830
GAB-017 149.8 192.0 42.2 45.7 58.5 12.9 695
Including 171.7 173.5 1.8 52.3 52.9 0.5 1,410
GAB-018 119.8 180.2 60.4 36.5 54.9 18.4 535
GAB-018 239.0 300.0 61.0 72.8 91.4 18.6 802
Including 287.0 292.0 5.0 87.5 89.0 1.5 1,340
GAB-019 271.2 333.0 61.8 82.7 101.5 18.8 549
GAB-019 354.2 401.9 47.7 108.0 122.5 14.5 729
Including 374.3 401.9 27.6 114.1 122.5 8.4 879
Including 398.0 401.9 3.9 121.3 122.5 1.2 1,100
Lithium mineralization has consistently been intersected in the lower portion of the Siebert formation. A second zone of mineralization has also been intersected in some holes, present in the upper portion of the Siebert. The lithium mineralization is hosted in a claystone-siltstone-sandstone-conglomerate sedimentary sequence.
Faults, with a normal sense of offset, have been mapped on the Gabriel surface. Fault-broken zones, gouge and cataclasites have also been logged in the core. The location and orientation of these structures will be assessed during the coming three-dimensional (3-D) geologic modelling project.
Every twin core hole drilled in the phase 1 program returned intercept values higher (range of 36 to 85 per cent) than the corresponding Blackrock Silver (BRS) TN22 reverse-circulation rotary hole. Based on Tearlach's expertise, a total of 603 TN22 drill hole pulps have been collected and submitted for lithium reassay.
Full details of the results outlined in this news release can be seen in the Tearlach release, inclusive of quality assurance/quality control procedures and approval by a qualified person (as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects).
Blackrock and Tearlach are parties to an option agreement dated Jan. 10, 2023, wherein, among other things, Blackrock has granted Tearlach an option to acquire, in two stages, up to a 70-per-cent interest in the lithium minerals in certain unpatented mining claims forming a portion of Gabriel. Upon incurring exploration expenditures of $5-million (U.S.) within three years, Tearlach will have earned a 51-per-cent interest in Gabriel, and upon incurring cumulative exploration expenditures of $15-million (U.S.) and completion of a feasibility study within five years, Tearlach will have earned a 70-per-cent interest. Pursuant to the option agreement, Tearlach has the exploration rights from surface to 650 feet (200 metres) below the topographic surface to explore for lithium. Blackrock retains the rights to all other minerals including gold and silver at Gabriel.
About Blackrock Silver Corp.
Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration company driven to add shareholder value via the drill bit. With 2.97 million tonnes grading 446 grams per tonne silver equivalent (1) at its Tonopah West project, and a new bonanza-grade gold discovery at Silver Cloud, the company has a proven record of exploration success. In addition to its gold and silver project portfolio, the company is credited with a lithium discovery, the Tonopah North project, which is under option to a major lithium exploration group. Anchored by a seasoned board, the company is focused on its 100-per-cent-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.
(1) Technical information relating to the Tonopah West project is based on and derived from the National Instrument 43-101 report prepared for Blackrock entitled "Technical Report and Estimate of Mineral Resources for the Tonopah West Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA" effective April 28, 2022. The technical report outlines 2.97 million tonnes at a block diluted grade of 208 grams per tonne (g/t) silver (Ag) and 2.5 g/t gold (Au) for a total inferred mineral resource of 19,902,000 ounces Ag and 238,000 ounces Au, or 446 g/t silver equivalent (AgEq) for 42.6 million oz AgEq. AgEq equivalent grade is based on silver and gold prices of $20 (U.S.)/ounce and $1,750 (U.S.)/ounce, respectively, and recoveries for silver and gold of 87 per cent and 95 per cent.
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