The maiden resource estimate is anticipated to be announced by April 15, 2022.

The decision follows modelling of the silver and gold intercepts throughout the system, which has shown sufficient vein continuity.

The Victor vein system intersects the Murray, Merger and OK vein systems and extends 480m along strike to the eastern border of the Tonopah West project. It is likely that the vein extends at least another 300m onto neighbouring properties.

Drilling undertaken by Blackrock so far has not reached the bottom of the vein, which means the dip extent is currently unknown.

Blackrock Silver's president and chief executive officer, Andrew Pollard, said the Victor vein system will play an important role in the company's maiden resource estimate.

"These vein systems are geologically and historically tied together, with underground workings linking the two areas, of which are in very close proximity," he said. "Over 90 years following the development and production shutdown, it is only fitting that these two areas re-emerge for the next chapter."  

On 24 March, Blackrock Silver traded on the TSX at C$1.29/share, moving 3.2% higher on the day. Its shares surged in recent days to above $1.20 for the first time since August 2020.