Blackrock Gold Corp (CVE:BRC) has said it will change its name to Blackrock Silver Corp to better reflect the silver dominant nature of its flagship Tonopah West silver-gold project in the Walker Lane trend in Nevada.
In a statement Monday, the company said the name change will be effective from March 17 and its common shares will continue to trade under the symbol “BRC”.
Blackrock said there is no consolidation of its share capital in connection with the name change. As a result, shareholders are not required to exchange their existing share certificates for new certificates bearing the company’s new name.
“With four drill rigs at site working towards delivering a maiden resource estimate at Tonopah West in 2021, it is evident that within the silver space we have something incredibly unique on our hands,” said Blackrock CEO Andrew Pollard in a statement. “While most think of Nevada as having a massive gold endowment, to this day Nevada is still known as the ‘Silver State.’ The Tonopah silver district, second to only the Comstock Lode in terms of historic production, is a large part of that reason.”
He added: “’The Queen of the Silver Camps’, as it came to be known, produced 174 million ounces of silver and 1.8 million ounces of gold from approximately 7.5 million tonnes of material, establishing it as one of the most significant silver-gold districts in North America, both in terms of size and grade.1 Our Tonopah West project represents the consolidation of the western half of this prolific district.”
Pollard noted that the Fraser Institute recently named Nevada as the top mining jurisdiction in the world based on investment attractiveness.
“Mexico and Peru, which are the world’s largest producers of silver by a wide margin, ranked 42 and 34 respectively on the same survey, highlighting just how attractive Nevada is within the global framework,” he said. “The 100 to 1 silver-gold ratio found in the Tonopah silver district makes it a clear standout within a sector where the majority of production comes as a byproduct of base metals mines, which, as they’re tied predominantly to other metals, are unable to scale up output to meet any increased demand for silver.”
Pollard added: “By changing our name to better reflect the nature of our flagship asset, we hope to broaden our investor appeal amongst those looking for pure exposure to both high-grade silver & gold in America.”
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Story by ProactiveInvestors
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