Blackrock Silver Gets Two Swings for the Fences
It’s been a couple of years since I was seriously covering Blackrock. Back then it was Blackrock Gold but when they began hitting bonanza grade silver at Tonopah it made more sense to change the name. But they are swinging for the fences with both gold and silver and it looks as if they have hit two homers.
The shares have had more ups and downs than a bride’s nighty on her honeymoon. The first time I wrote about them they had 36 million shares selling for $.125. A year later, they had made it all the way up to $.23 a share. They did hit silver big time and in three short months the stock had moved to $1.61 for a 600% move. You need only one or two of those in your lifetime to retire and live in the style in which you would like to become accustomed to.
Once again the stock is absurdly cheap. I think it offers the same potential again. The company has already delivered a 43-101 resource at Tonopah West of 42.65 million ounces AgEq at a grade of 446 g/t AgEq. That was released in May of 2022.
Since then the company has added 25,000 meters of drilling. They are working up a new 43-101 with an estimated release in the October to November timeframe. With 25,000 meters of high-grade silver drilling, obviously it will make a serious addition to their resource.
At today’s price of silver at similar silver deposits Blackrock is getting about $1 an ounce for silver in the ground as are others. In 2008-2011 comparable deposits were getting $3 an ounce so BRC could triple just based on investors putting a higher value on silver or with the increase in the number of ounces or both together.
Many years ago in my very first visit to an underground mine; I was taken on a tour of the Ken Snyder Gold mine in Nevada. It is located NW of Elko Nevada. In the early 2000 decade Ken Snyder/Midas was producing gold at an all up cost of about $250 an ounce. Hecla now owns the Midas mine along with the nearby Hollister mine.
But I made mention of Blackrock getting two swings at that plate. Since Andrew Pollard took over a failing company in 2019 he has kept two balls in the air. Early on his main focus was on the Silver Cloud project that the company picked up from famed Nevada prospector Carl Pescio. Carl had fifty-six mining projects in Nevada in his control. He vended fifty-five of them into Allied Nevada that later grew to a $4 billion market cap.
But the jewel in his crown was the Silver Cloud gold project nestled right in-between the Hollister Mine and the Midas Mine. He believed and Andrew Pollard also thought that Silver Cloud was another potential Midas deposit with +1 ounce gold material. Blackrock drilled Silver Cloud for years with only sniffs of gold before drilling a Midas grade hole last year showing 70 grams of gold and 600 grams of silver over 1.5 meters.
I’ve been to see Silver Cloud years ago with Carl Pescio. He has always believed the project had Ken Snyder/Midas potential. There was a big mercury mine on Silver Cloud and signs of mercury everywhere. Mercury of course is a giant pathfinder for gold. But the Ken Snyder/Midas mine was in volcanics with no outcrop and there has always been a big debate about the orientation of where the meter or so but ultra high grade veins could be found.
BRC spent years and millions drilling Silver Cloud and only found sniffs. They literally were on the last hole of the 2022 drill program when they hit the 70 g/t 1.5 meter intercept. That proves the potential. Now all they have to do is extend the strike length and punch some more $4800 USD intercepts.
The potential is there and this is the put up or shut up drill program. One or two similar assay results and the stock price will explode. I think they have it and I have bought more shares in the open market. I love cheap stocks that everyone ignores.
Blackrock is an advertiser. I have participated in several private placements so naturally I am biased. Do your own due diligence.
Blackrock Silver Corp