Blackrock Silver Corp.
Despite its name, gold is Blackrock Silver's leading metal: in the 2026 updated preliminary economic assessment for its 100%-owned Tonopah West silver-gold project in Nevada, gold earns about 54% of life-of-mine revenue (US$1,341M against US$1,129M from silver, at US$2,700/oz gold and US$31/oz silver). The study outlines an 11.2-year underground mine on a resource whose indicated portion holds 199,000 oz of gold and 19.2 Moz of silver. The company received its first of three key permits in 2026, with full permitting targeted by mid-2027.
Lifecycle Milestones
Not in place: mill, tailings facility. Not yet determined: grid power.
Jurisdiction (40%)9/10
Nevada: Fraser PPI 2025 is 100.00 of 100 (rank 1 of 68), which maps to 9 on this site's scale. Nevada is a top global mining jurisdiction with strong rule of law and established permitting pathways.
Infrastructure (40%)4.3/10
No confirmed mill, confirmed road access, and no confirmed tailings facility at Tonopah West Project, Nevada, USA; grid power not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Round Mountain (Kinross Gold Corporation), 69 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:4.4/10
Nearest producing mine: Round Mountain (Kinross Gold Corporation), 69 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:6/10
Stage: Preliminary Economic Assessment
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
United States: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Certified Professional Geologist and NI 43-101 Qualified Person with 34+ years in international exploration and mining across the Western US, Mexico, and Central/South America. Was General Manager of Exploration (US & Latin America) for Placer Dome, where his team's work contributed to the Turquoise Ridge, Pipeline, and Pueblo Viejo deposits later becoming mines. Founded Rye Patch Gold Corp. in 2006 and served as its President/CEO/Director from 2010-2018, later leading the acquisition and rapid start-up of the Florida Canyon mine in Nevada. Has raised over $300M in project financing across his career.
Mining company builder with nearly two decades of industry experience, joined Blackrock Silver as President & CEO in 2019. Has since raised over $100 million to fund the company and advanced the Tonopah West project in Nevada from discovery to a Preliminary Economic Assessment in four years, including a drilling program exceeding 150,000 metres. Continues to oversee updated resource estimates and PEAs at Tonopah West, positioning it as one of the leading silver development assets globally.
Chartered Professional Accountant (CA designation 2008; Chartered Director Certification 2017) with a Bachelor of Business Administration from Simon Fraser University. Since 2011 has served as Director, CFO, or Controller for multiple publicly traded technology, manufacturing, and resources companies, including Group Controller at Rye Patch Gold and a financial reporting/SOX specialist role at Golden Queen Mining, where he helped the company transition from exploration to full gold/silver production. Currently CFO of Blackrock Silver.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Eric Sprott, the best-known financier in junior precious metals, is the story here and he has been adding. A September 2024 placement took him from 9.8% to 15.0% (25,131,819 to 40,756,819 shares), and he then led a C$15 million financing that closed on 8 January 2026 with a further C$7.0 million subscription at C$1.10. Two successive early-warning disclosures showing a position being increased is about as clear as conviction gets. There is no offsetting corroboration though -- no silver producer holds equity, institutional ownership is only 11.5%, and the two ETFs on the register (Global X SIL and Sprott SLVR) are rules-based rather than discretionary.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Blackrock Silver is advancing its 100%-owned Tonopah West silver-gold project in Nevada, planned as an underground mine. Despite the company's name, gold leads the project's economics: the March 2026 updated preliminary economic assessment earns US$1,341M of its US$2,469M life-of-mine gross revenue from about 496,500 payable oz of gold and US$1,129M from 36.4 Moz of payable silver, so gold is about 54%. In contained gold, indicated resources are 199,000 oz (2,750 kt at 2.25 g/t Au), with no measured category, plus 467,000 oz inferred, in an estimate effective 4 January 2026 at a 140 g/t silver-equivalent cut-off; the same indicated material holds 19,167,000 oz of silver at 216.8 g/t. The study shows an after-tax NPV5% of US$437M and a 28% IRR at US$2,700/oz gold and US$31/oz silver, with initial capital of US$190.4M, an 11.2-year mine life averaging 7.1 Moz of silver equivalent a year, and an all-in sustaining cost of US$17.44 per silver-equivalent ounce, about US$1,519 per gold-equivalent ounce at the study's prices. The first of three key permits was issued on 3 March 2026, and the company is targeting full permitting by mid-2027.