Blackrock Gold Corp.: Silver Cloud Target and Drill Program Update

Press Release Highlights

  • Selected Timberline Drilling as the contractor for the 2000-metre Silver Cloud core drilling program slated to begin in mid-September;
  • Permitted and bonded for success with up to 10,000 metres of drilling in the Silver Cloud mine vein zone, and up to 5,000 meters within the NE target area;
  • Planned drilling will initially target the Silver Cloud Main vein and an associated sub-parallel hangingwall vein where past high-grade gold intercepts were encountered;
  • Identified potentially five east-west veins and two porphyry intrusives by modelling the historic drillholes in Leapfrog; and
  • Collected 342 soil samples and started a detailed mapping program on the NE target area.

Vancouver, British Columbia--(Newsfile Corp. - September 3, 2019) - Blackrock Gold Corp. (TSXV: BRC) (the "Issuer") through its U.S. subsidiary, Blackrock Gold Corp. ("BRC"), announces the selection of its drill contractor for the upcoming Silver Cloud core drilling program in Nevada. Timberline Drilling Inc. has been selected to complete the 2,000 metre core program. The drill is slated to arrive on-site in September, and all necessary activities to accommodate the drill are in progress. Hecla's nearby Hollister mine has agreed to allow Blackrock access water from the mine for drilling.

In addition, the Company secured bonding through Arch Insurance company with no collateral down and a 2 percent per annum finance charge for the bond. The total bond was estimated at USD$25,000. The cost of the surety bond to the Company is approximately USD$500 per annum until the disturbed areas are reclaimed or the bond is increased as a result of a successful drill program. The current permit and associated bond allow for 10,000 metres of drilling in the Silver Cloud mine vein zone, and up to 5,000 meters within the NE target area.

At the Silver Cloud mine, drilling is targeting the Main vein and a sub-parallel hangingwall vein located immediately to the south. Leapfrog modeling of historic drillholes using logged lithology and gold assay data show potential for five veins within the Silver Cloud vein zone. The veins are identified relative to their position from the Main vein. Hanging wall veins (HW) 1 through 3 are located to the south of the Main vein and show gold values ranging between 1.0 to 2.6 g/t over thicknesses of 1.5 to 3 metres. One footwall vein (FW) has been identified to the north of the Main vein with slightly higher gold grades (3.2 g/t Au) as intersected with the HW veins. It is important to note that only drillholes SCT-6 (1.5m grading 157.7 g/t Au and 1.5m grading 9.26 g/t Au), SCT-8 (0.7m grading 7.7 g/t Au), and SCP-15 (12.2 m grading 5.53 g/t Au including 1.5m grading 12.5 g/t Au) intersected the Main vein at the critical 1,500m elevation. Drill intercepts within 200 metres of the 1,500 metre elevation have gold values ranging between 3 g/t and 158 g/t gold.

In addition to the veins, two porphyry intrusives have been identified. The first is closely associated to the mineralization returned from Placer Dome's SCP-15. The porphyry appears to be syn-mineral and has an elongated axis in the east-west direction along with a larger intrusive mass as defined by drilling located to the north of SCP-15. The second porphyry intrusive is dike-like and has a north-northwest orientation located near the Silver Cloud mine. The dike appears to be post mineral.

Also of note is a potential structural intersection located where the Main vein and HW 1 intersect with the basement rocks. The target is one kilometre deep but may deserve a test if the Silver Cloud drilling returns positive results.

In the NE target area, the Company completed a follow-up soil survey and has initiated detailed geologic mapping. Mr. Pete Dilles is completing the mapping. A total of 342 soil samples were collected and results are pending.

Blackrock's exploration activities at the Silver Cloud project are being conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock Gold Corp. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Blackrock Gold Corp.

Blackrock is a junior gold-focused exploration company that is on a quest to make an economic discovery. Anchored by a seasoned Board, the Company is focused on its Silver Cloud property, a low-sulphidation epithermal gold & silver project located along on the established Northern Nevada Rift gold trend in north-central Nevada.

For further information, please contact:

Andrew Pollard, Chief Executive Officer
Blackrock Gold Corp.
Phone: 604 817-6044
Email: andrew@blackrockgoldcorp.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor it's Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.

Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to the ability of the Company to attract financing and the general market conditions of the industry in which the Company operates and the other factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR.

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47436

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