Blackrock Silver Corp. (BRC.V)

AP e-mail reply to me:
andrew@blackrockgoldcorp
May 2 at 8:04 PM
To: 'Christopher Campbell'
Hi Christopher,

To what end? I’m one of the largest shareholders in the company and we’ve just delivered one of the most robust, safe-haven resources in the entire industry. Would’ve loved to see firmer market today but we’re not here to day trade; we’re here to fundamentally advance and de-risk the project.

On this initial pass Victor ended up delivering the highest ounces, clearly surpassing our expectations given the slightly higher grades, and vein thicknesses there. We see significant upside potential at DPB to add tonnes; the rigid stope parametres and economic assumptions saw tonnes fall off as originally targeted, though further drilling, especially to better define the high-grade shoots, and in those areas that that were “on the cusp”, leaves room for substantial upside. With veins, there’s no middle ground; tonnes either make the cut, or they fall off entirely. Unfortunately last 2-3 batches of DPB infill holes came in quite a bit skinnier than initial drilling.

We had MDA put this through the wringer, taking a skeptics view to every single aspect of the model as we wanted it to be absolutely bullet-proof in terms of establishing initial numbers. We’ve looked at every significant UG resource in the silver space over the past few years and this is amongst the most conservative yet; it’s been constrained six ways from Sunday and at that, it’s wildly robust as the grade is more than 2x the cut-off. These numbers are conservative and they hold up to scrutiny.

We’ve used significantly higher cut-off grades and cost assumptions than our peers. We used ID-cubed for the blocks, and took it one step further, presenting the resource entirely within a stope (rigid minimum vein widths of 1.5m); whereas most resources for projects of this stage require a fair bit of faith and provide for a lot of wiggle room, there are no “shades of grey” in ours. That also speaks to upside as we focus on drilling out key areas and bringing cost assumptions/cutoff grade down.

Analysts/corporates will like it and see immediate upside in our numbers. The full technical report spells out everything in greater detail, including sensitivity analysis using lower cut-off (which obviously adds tonnage) and that’ll be filed shortly.

That said, using our 42.6m ounces in the base case, we closed Friday valued at roughly $3.35/oz. Today we closed at $2.58/ounce. Given peer comps for high-grade silver stories, especially safe-haven ones, I’d say fair value is somewhere in between that.

Our closing price today is where we were at the end of February and we’re now backstopped by some of the highest grade undeveloped silver ounces in the ground.

Andrew
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That was his reply to a comment i sent.

His words, most detailed explanation/reply i think i've seen & did like this part --- " Analysts/corporates will like it and see immediate upside in our numbers. The full technical report spells out everything in greater detail, including sensitivity analysis using lower cut-off (which obviously adds tonnage) and that’ll be filed shortly".

There was around 110k metres drilled & MRE only used 65k.
Fill be very interesting.

Still looking forward to 1.2 miles to the NW & Lithium assays, glta!!

Vancouver, British Columbia--(Newsfile Corp. - February 24, 2022) - Blackrock Silver Corp. (TSXV: BRC) (the "Company") is pleased to announce a non-brokered private placement (the "Offering") with Eric Sprott as the sole investor. The Offering consists of 5,681,819 common shares of the Company (the "Shares") at a price of C$0.88 per Share for gross proceeds of C$5,000,000.72.
The Offering is scheduled to close on or about March 3, 2022, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Shares to be issued under the Offering will have a hold period of four months and one day from the date of closing. The net proceeds of the Offering will be used by the Company for exploration of the Company's portfolio of gold and silver projects in Nevada, and for general working capital.
The Company has agreed to issue 227,272 Shares as a finders' fee to Research Capital Corporation, which is equal to 4% of the number of Shares placed on the Offering. The finder's fee is subject to regulatory approval and the finder's Shares will have a hold period of four months and one day from the date of closing.

I think they are focused more so on selling to a large mining company rather than ever getting in to the mining business personally and that's fine. Today's presentation was great and very encouraging. 450-600 million tons was mentioned in todays broadcast. Andrew hints at that way more than he does pricing the cost of mining equipment. Just hoping we 1. get a fantastic maiden resource number. 2. list on a major exchange without a reverse split to get the share price up enough to qualify. And more importantly for listing on a big exchange, so that large institutions, analyst and possible buyers give us the visibility it takes to do those things. Funds and analyst rarely ever pay attention to anything that trades less than 2.00-5 a share.

Li potential:
"To help confirm the margin of the Tonopah caldera, four drillholes are planned along an east-west fence; however, the Siebert Formation is exposed at the surface, and American Lithium Corp’s, TLC, lithium deposit is located approximately 3 kilometres to the northwest of Blackrock’s claim position within the Siebert Formation. The lithium is hosted within the middle and lower members of the Siebert formation. Four drillholes (Sites C, D, E and F) will serve a dual purpose of identifying the margin of the Tonopah caldera as well as testing the Siebert Formation for lithium concentrations" Distance apart: only 1.8 miles. Read page 11, bottom left corner in blue, from AL's corpoate presentation.

It's clear Blackrock's Li potential, has been very much overlooked. Continue to confirm similarities & either sell claims, or retain them &sign a tolling / processing agreement with AL.
No fully mining/processing build-out.

AL claims are 3 km's NW from BRC. Our NW step-out was 2 km's.
Glta!!

The Story on this Jr. Miner is noteworthy. This district had a number of claims lie dormant for decades until more samples were sent to the labs in the last two years by Blackrock. The results are due to be released about April 15 according to company press releases. Across the highway in Tonapah Nevada is also Summa silver. Rick Rule says that the best place to open a mine is near a mine. Nevada is known to be very friendly towards mining operations. (The Silver State). Able to operate year round in a town with infrastructure. Silver at or near a 5 year high. They may be placing themselves in the path of a bigger producer as a merger or acquisition target, as is normal in mining. The CEO has numerous youtube video interviews out recently. (Search Blackrock silver). An early investor in this company is successful mining investor Eric Sprott. This could make the basis for some very rewarding due diligence . I know what I will be doing early in the week! Watch the silver price this week.......

I went to Tonopah on a coordinated bus tour with $BRC.V and $SSVR.V at the beginning of April. I'm sure that all of you who participate on this board are already aware, but here are some basics about the project. The veins were discovered and mined in the early 1900s. From 1902 to 1930 about 175m oz of Silver and 2m oz of Gold were extracted from the earth. The miners ground to a halt following 1930 only on account of falling silver prices, which fell from $2/ oz to below $0.50/ oz. It did not stop because it was depleted of Silver. The miners followed the veins as deep as 1500 ft deep. The Town of Tonopah peaked at about 30,000 people in the 1920s, now sitting at about 2,500 people. $BRC.V and $SSVR.V now aggressively drill the ground to quantify the remaining known resource, in as many as 10 known veins today.
The CEOs have done well in promoting this story. Now its up to them to prove the resource with the MRE coming out any day now.