Blackrock Silver (TSXV:BRC)’s Nevada subsidiary, Blackrock Gold has entered into an option agreement with Tearlach Resources (TSXV:TEA) and its Nevada subsidiary, Pan Am Lithium, (collectively, Tearlach).
Pursuant to the agreement, Tearlach has been granted the option to acquire, (in two stages) up to a 70% interest in the lithium minerals in certain unpatented mining claims forming a portion of the Blackrock's Tonopah North project in Esmeralda County and Ny/e County, Nevada, upon incurring cumulative exploration expenditures of $20 million (US$15 million) and the completion of a feasibility study within five years.
Tonopah North is an emerging new discovery area where lithium values as high as 1,217 ppm have been intercepted by drilling. The zones of mineralization are up to 56.4 metres thick.
"This deal creates significant value for Blackrock shareholders by pairing our emerging lithium discovery with a world-class lithium technical team while retaining shareholder upside in potential new silver and gold discoveries on our underexplored Tonopah North project,” said Andrew Pollard, president and CEO of Blackrock.
“This transaction allows Blackrock shareholders to gain an interest in an active lithium project while allowing the company to focus its resources on our high-grade precious metal discoveries,” Pollard said.
To learn more, visit www.BlackRockSilver.com.
April 24, 2024
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