Monday, July 12, 2021 3:40:23 PM
First Majestic Silver (NYSE:AG) (TSX:FRI) has announced a C$ 1.3 million investment in Blackrock Silver, an exploration company with a portfolio of gold and silver properties in Nevada. First Majestic currently has three silver mines in Mexico and a recently acquired goldmine in Nevada. The investment agreement involves the private placement of 2,666,666 units. The offering is scheduled for closing on June 8, 2021, subject to conditions such as receipt of the necessary approvals including the approval of the TSX venture exchange. The offering will be subject to a hold of four months and a day from the date of closing.
Blackrock Silver (TSXV:BRC) (OTC:BKRRF) announced more high-grade gold and silver intercepts from its core and RC drilling program on its Tonopah West project in Nevada. The company has completed 53,000 meters of drilling in less than a year and identified ten high-grade veins of between 400 meters and up to 1.5 kilometers in the strike. On the Merton vein, the company has discovered two distinct high-grade zones. This vein is part of the company's DPB target that forms the basis of the company's maiden resource estimate planned for delivery by the end of the year. The company's impressive exploration results give investors "a lot to look forward to in the near term."
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