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Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce an update on funding of the CERENERGY(R) sodium-chloride solid-state battery project in Saxony, Germany.

DEBT PROCESS

As previously mentioned, Altech has engaged ten commercial banks and two venture debt funds in the first round of financing discussions, receiving largely positive initial feedback. Based on this feedback, the Company has selected a preferred financial institution- a European bank with a proven track record in providing debt funding for technology-driven projects, particularly those within the innovation sector.

Although the mandate has not yet been formally executed, Altech intends to make an official announcement once this step is complete.

Meanwhile, the bank’s commercial and technical teams have been diligently conducting a comprehensive review of the Cerenergy projects and its technology. The technical due diligence process is critical for ensuring that the project meets the bank’s financing and risk criteria. As part of this process the onsite Altech experts are in detailed discussions with the bank’s representative. The banks have visited Dresden and the Fraunhofer testing facilities and visit Hermsdorf, Germany where the prototype production is located in the coming weeks, which will be a key step in concluding the technical evaluation.

In parallel with these efforts, Altech is progressing discussions for securing a federal government guarantee, which would further strengthen its ability to secure the necessary debt funding for the project. Officials from the Ministry of Finance have already been briefed on the initiative, and the due diligence process for the application is actively underway. This federal guarantee will serve as an underwriter and therewith derisk any debt funding for the project substantially.

EQUITY FUNDING

In parallel with ongoing debt financing efforts, the Group has engaged several equity advisers to assist in securing the equity component of the project’s funding package. As part of this strategy, Altech plans to divest a minority interest in the project to one or two strategic investors. This partial divestment is intended to attract investors who can contribute not only capital, but also strategic value, aligning with the CERENERGY(R) project’s long-term goals of growth and sustainability.

The Group on one hand is specifically targeting large utility companies, data centre operators, investment funds, and corporations that are deeply committed to the green energy transition and on the other hand industrial partners with access and know-how and resources relevant to Cerenergy battery production, implementation or market access. These potential partners are seen as ideal due to their strong alignment with the project’s sustainable energy focus and their ability to provide significant financial support. Progress in equity discussions has been promising, with several Non-Disclosure Agreements (NDAs) signed, enabling deeper engagement with prospective investors. Additionally, draft term sheets have been circulated to interested parties, outlining the key terms and conditions for investment. These documents provide a foundation for negotiations and facilitate more detailed discussions around the equity stake and partnership structure.

The decision to divest part of the project is strategically aimed at easing the Company’s financial burden while bringing in experienced partners who can contribute to the project’s success. By securing both equity and debt financing, Altech aims to finalize the full funding package, ensuring the timely construction and commissioning of the CERENERGY(R) battery plant. Moving forward, the focus will be on advancing these discussions and converting interest into formal commitments, which are critical for the project’s progression.

GRANT APPLICATIONS

Altech has been actively applying for various grants offered by the State of Saxony, Federal Government of Germany, and the European Union. The State of Saxony and Brandenburg, along with the European Union, offer substantial support for renewable energy projects, including grants aimed at converting lignite coal to renewable energy sources. These grants are part of broader efforts to transition regions dependent on fossil fuels toward sustainable energy solutions. Altech’s site, located in these areas, stands to benefit from various funding programs designed to support clean energy projects, including EU grants for energy transformation and innovation. Altech has applied for several of these grants to advance its CERENERGY(R) project, securing essential financial backing for technology development, high-tech industries, expert employment and infrastructure upgrades.

OFFTAKE ARRANGEMENTS

Altech has secured three key Offtake Letters of Intent (LOIs) for 100% of its CERENERGY(R) production.

1. Zweckverband Industriepark Schwarze Pumpe (ZISP): An agreement was signed on 13 September 2024 for ZISP to purchase 30 MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The purchase is contingent on performance tests and battery specifications meeting customer requirements.

2. Referenzkraftwerk Lausitz GmbH (RefLau): A second LOI was executed with RefLau, a joint venture between Enertrag SE and Energiequelle GmbH. RefLau will buy 30 MWh of CERENERGY(R) storage n the first year, increasing to 32 MWh annually for the next four years. Additionally, Altech will purchase green electricity for its planned production plant.

3. Axsol GmbH: A third LOI was signed with Axsol, a leading renewable energy solutions provider. Axsol will exclusively distribute CERENERGY(R) batteries to the Western defense industry, facilitating early market entry and sales. These agreements are crucial for financing and advancing the CERENERGY(R) project.

 

About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

 

 

Source:
Altech Batteries Ltd

 

 

Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

 

 

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Highlights:

 

• Mining operations to restart at the San Agustin Mine in H2, 2025, with initial production expected in Q4

  

• Restart provides confidence for the first significant Heliostar investment into the future of San Agustin, aimed at extending mine life

 

• Drilling will commence immediately in H2, 2025, on oxide expansion targets, followed by sulphide porphyry/breccia exploration

 

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) is pleased to announce the restart of mining operations at San Agustin, located in the state of Durango. Heliostar presently produces gold from residual leaching at the San Agustin Mine. The Company will increase production by mining the mineral reserve, principally in an area the Company describes as the Corner Area. This is a key milestone to unlock increased value from San Agustin.

 

‘Heliostar is pleased to have met its forecast timelines to recommence mining at San Agustin,’ commented Heliostar CEO, Charles Funk. ‘Mining the Corner Area will produce 45,000 ounces of gold from the current reserve. It will generate US$40M in cash flow at a US$3,000 gold price. Heliostar has made this restart commitment, having complied with all the requirements to start mining and having approximately US$30M in cash on our balance sheet to fund the necessary capital.’

 

‘As the largest local employer, this milestone provides job stability and provides for expanded economic opportunities for our nearby communities and throughout the state of Durango. For Heliostar, it marks a shift from residual leaching to active mining, increasing production and improving cash flow through 2026. It also provides the confidence to begin new investment in growth at San Agustin. This will include drilling aimed at converting oxide resources to reserves and testing sulphide targets that share characteristics with deposits such as Peñasquito and Camino Rojo.’

 

Technical Report Summary

 

On January 14, 2025, the Company filed an amended and restated technical report titled ‘San Agustin Operations, Durango State, Mexico, NI 43-101 Technical Report’ prepared by Mr. Todd Wakefield, RM SME, Mine Technical Services, Mr. David Thomas, P.Geo., Mine Technical Services, Mr. Jeffrey Choquette, P.E., Hard Rock Consulting, Mr. Carl Defilippi, RM SME, Kappes Cassiday and Associates and Ms. Dawn Garcia, CPG, Stantec with an effective date of November 30, 2024 (the ‘Technical Report‘).

 

The life-of-mine (LOM) plan set out in the Technical Report indicates that a probable mineral reserve of 68,000 ounces of gold can be exploited over a 1.2 year mine life at an all-in sustaining cost (AISC) of US$1,990/oz Au. The initial capital cost in the Technical Report is estimated at US$4.2M.

 

The Technical Report demonstrates a post-tax NPV_5% of US$35.3M, an IRR of 548% and a payback period of 0.2 years for the upside case at a $3,000/oz gold price.

 

The mineral reserve estimate included in the Technical Report is based on the operation of the existing crusher and conveyor system having a nameplate throughput capacity of about 30,000 tonnes/day and continued operation of the heap leach and carbon-in-column (CIC) process circuit to processing ore from the expanded open pit. The mineral reserve estimate included in the Technical Report is presented below. The expected operating performance and cost forecasts were compiled with the benefit of benchmarking historical performance at San Agustin. This was supplemented with the input of seasoned professionals knowledgeable of the conventional technologies being used at San Agustin, the expected consumption quantities of key supplies, and commercial pricing for goods and services in Mexico.

 

 

Figure 1: View of Corner Area looking to southeast showing the current reserve model and planned pitshell.

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/259590_ccc95ec664b4ea3f_003full.jpg

 

Restart Steps

 

In 2022, the previous operator of the San Agustin mine reached a private surface rights agreement to access a portion of the deposit referred to as the Corner Area. Despite this, mining operations ceased at the mine in late 2023 due to a lack of permit accessible mineral reserves.

 

In July 2025, Heliostar complied with all required applications and received the required approval to undertake this open pit expansion. The relevant application was submitted in Q4, 2024. Further, the Company has also received a variance to its environmental impact assessment (MIA) to increase the height of the San Agustin leachpad from 77 to 88 metres in height. This variation will save approximately US$5M in capital during the mining of the Corner Area due to not having to prepare an extension to the existing leachpad.

 

Heliostar’s restart plan will include selecting civil, drilling and mining contractors, moving of a power transmission line, establishing additional access roads on site and removing and stockpiling the vegetation and topsoil present over the Corner Area. This work is anticipated to be undertaken in Q3 and Q4, allowing for the first stacking of new ore and subsequent new gold production from the Corner Area in Q4, 2025.

 

Oxide Growth Targets

 

The restart of mining at the Corner Area expands the mine life at San Agustin. With the longer production timeline and confidence in the ability to convert resources to gold production, Heliostar will commence a drilling program seeking further mine life extensions.

 

The immediate focus for growth is on near-surface oxide material that could be processed through the existing facilities. The Company recognized several growth targets at the margins of the current pit and at the edge of the Corner Area reserve.

 

Higher-grade oxide results from the priority Corner SW target area include,

 

• Hole 14-SAGRC-196 grading 3.52 grames per tonne (g/t) Gold over 18.3 metres from 32.0 metres downhole

 

• Hole 14-SAGRC-177 grading 0.34 g/t Gold over 15.24 metres from 27.4 metres downhole

 

The targets are the extensions of mineralized corridors defined by grade control drilling and through a comprehensive re-logging and multi-element re-assaying program undertaken by Heliostar geologists in H1, 2025. The higher gold price environment has also increased the potential of certain lower-grade areas that were not previously a focus at San Agustin.

 

 

Figure 2: Plan map of San Agustin showing oxide gold growth targets with drilling and blasthole data shown.

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/259590_ccc95ec664b4ea3f_004full.jpg

 

Sulphide Exploration Targets

 

San Agustin is a very large mineralized system that hosts a significant volume of gold, silver, lead and zinc mineralization immediately beneath and adjacent to the current pit.

 

This mineralization is not amenable to conventional heap leaching, and metallurgical work undertaken by the Company has indicated grades are not high enough for economic extraction at present prices.

 

However, higher-grade results have been returned from within the sulphide domain at San Agustin, including,

 

• Hole SA-133 grading 0.49 g/t Gold, 25 g/t Silver, 0.2% Lead and 1.0% Zinc over 297 metres from 16.5 metres downhole

 

• Hole SA-184 grading 0.60 g/t Gold, 15 g/t Silver, 0.1% Lead and 1.0% Zinc over 196 metres from 172 metres downhole

 

 

Figure 3: Geochemical and Geophysical footprints at San Agustin with the four sulphide targets labelled. 

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/259590_ccc95ec664b4ea3f_005full.jpg

 

Similar to central Mexican, gold-rich polymetallic, intrusive-related deposits, including the Peñasquito and Camino Rojo Mines, also contain higher grade zones of gold and silver mineralization, demonstrating the potential for defining high-grade mineralization within the San Agustin system. Investors are cautioned that mineral deposits on other properties are not indicative of mineral deposits on the Company’s properties.

 

In H1 2025, Heliostar geologists built the most detailed geological model completed to date of the San Agustin deposit. This model proposes that the bulk of the gold and silver mined to date is from an intermediate sulphidation vein system that sits above intrusive related breccias and to the southeast of an interpreted intrusive/breccia centre that is believed to have a porphyry source.

 

This interpretation generated four significant new porphyry/breccia targets beyond the previously drilled mineralization. These four zones are adjacent to and northwest from the San Agustin pit. These targets are supported by geology, alteration vectors, geophysical signatures and significant geochemical footprints. The Company believes they have strong similarities to those at the Peñasquito deposit.

 

Upon completion of the oxide drilling, the Company intends to test these new sulphide targets, looking for high-grade mineralization at San Agustin.

 

Silver Vein Targets

 

 

Figure 4: Silver in rockchips at San Agustin with Consejo Vein target and selected drill hole labelled. 

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/259590_ccc95ec664b4ea3f_006full.jpg

 

In 2021, the previous operator acquired a large claim block from Fresnillo Plc to support an expansion of the open pit. This increased the San Agustin land package to 5,884 hectares. Since this acquisition, no significant regional exploration has been undertaken on these acquired claims.

 

The regional exploration targets at San Agustin include the Consejo vein prospect. Last drilled in 1987, these veins include intercepts such as 1.3 m grading 3,235 g/t silver, 2.85 g/t gold, 15.0% lead and 8.7% zinc (Consejo de Recursos Minerales, 1985). There has been no drilling on these veins since the initial government program 38 years ago. Heliostar will undertake a modern sampling and target generation program focused on these veins and across the broader claim package to define additional drill targets in H2, 2025.

 

Note: A qualified person has not been able to independently verify the assay results in the drill intersections presented here, and Heliostar plans on conducting additional work at San Agustin to establish the grades and widths of targets on the property.

 

San Agustin Reserve Table from Technical Report

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/259590_ccc95ec664b4ea3f_007full.jpg

 

Notes to accompany Mineral Reserves table:

 

1. Mineral Reserves are reported at the point of delivery to the process plant, using the 2014 CIM Definition Standards.

 

2. Mineral Reserves have an effective date of 30 November 2024. The Qualified Person for the estimate is Mr. Jeffrey Choquette, PE, of Hard Rock Consulting, LLC.

  

3. Mineral Reserves are reported within the ultimate reserve pit design. An external dilution factor of 5% and a metal loss of 3% have been factored into the Mineral Reserve estimate.

 

4. Tonnage and grade estimates are in metric units.

 

5. Mineral Reserve tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.

 

Qualified Persons

 

Gregg Bush, P.Eng., Mike Gingles, MBA, Stewart Harris, P.Geo, and Sam Anderson, CPG, the Company’s Qualified Persons, as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, have reviewed the scientific and technical information that forms the basis for this news release and have approved the disclosure herein.

 

About Heliostar Metals Ltd.

 

Heliostar aims to grow to become a mid-tier gold producer. The Company is focused on increasing production and developing new resources at the 100% owned La Colorada and San Agustin mines, and on developing the Ana Paula, Cerro del Gallo and San Antonio deposits in Mexico.

 

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

 

 

 

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Cautionary Statement Regarding Forward-Looking Information

 

This news release includes certain ‘Forward-Looking Statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ under applicable Canadian securities laws. When used in this news release, the words ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘target’, ‘plan’, ‘forecast’, ‘may’, ‘would’, ‘could’, ‘schedule’ and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, the Company’s exploration and development plans including the restart plan at San Augustin the completion of drilling activities and the testing of targets.

 

These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption ‘Risk Factors’ in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

 

This news release includes certain non-International Financial Reporting Standards (IFRS) measures. The Company has included these measures, in addition to conventional measures conforming with IFRS, to provide investors with an improved ability to evaluate the project and provide comparability between projects. The non-IFRS measures, which are generally considered standard measures within the mining industry albeit with non-standard definitions, are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Cash costs (Cash Costs) are a common financial performance measure in the gold mining industry but with no standard meaning under IFRS. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate each project’s economic results in the technical reports and each project’s potential to generate operating earnings and cash flow. All-in Sustaining Costs (AISC) more fully defines the total costs associated with producing precious metals. The AISC is calculated based on guidelines published by the World Gold Council (WGC), which were first issued in 2013. In light of new accounting standards and to support further consistency of application, the WGC published an updated Guidance Note in 2018. Other companies may calculate this measure differently because of differences in underlying principles and policies applied. Differences may also arise due to a different definition of sustaining versus growth capital. Note that in respect of AISC metrics within the technical reports because such economics are disclosed at the project level, corporate general and administrative expenses were not included in the AISC calculations.

 

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259590

 

 

 

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Radiopharm Theranostics (ASX:RAD,OTC:RDPTF, ‘Radiopharm’ or the ‘Company’), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need, is pleased to announce the appointment of Dr Oliver Sartor, MD to the Company’s Scientific Advisory Board (SAB).

 

Dr Sartor is an internationally recognised medical oncologist and scientist specialising in prostate cancer and radiopharmaceutical therapies. He currently serves as Director of Radiopharmaceutical Clinical Trials and Chair of the Genitourinary Cancer Disease Group at the world-renowned Mayo Clinic, in Rochester, Minnesota. He was previously Laborde Professor of Medicine and Urology and Medical Director of Tulane Cancer Center in New Orleans under Tulane University School of Medicine.

 

Dr Sartor has also held senior roles at LSU Health Sciences Center, Dana‑Farber/Harvard Medical School, and as Medical Oncology Co‑Chair of the GU Committee of NRG Oncology.

 

Dr Sartor received his MD with honours from Tulane University School of Medicine in 1982, completed internal medicine residency at Tulane, and a medical oncology fellowship at the National Cancer Institute (NCI).

 

Since 1990 he has focused on prostate cancer clinical research, authoring more than 500 peer‑reviewed publications and leading multiple pivotal Phase 3 trials that resulted in FDA approvals for therapies including samarium‑153 EDTMP, cabazitaxel, radium‑223, and PSMA‑targeted radioligand therapy.

 

‘Dr Sartor brings an unparalleled depth of expertise in both clinical translation and radiopharmaceutical therapies,’ said Riccardo Canevari, Managing Director and CEO of Radiopharm Theranostics. ‘We’re very honoured to welcome him to our SAB. His insight and leadership will be invaluable as we advance our radiopharmaceutical pipeline.’

 

  About Radiopharm Theranostics  

 

 Radiopharm Theranostics is a clinical stage radiotherapeutics company developing a world-class platform of innovative radiopharmaceutical products for diagnostic and therapeutic applications in areas of high unmet medical need. Radiopharm is listed on ASX (RAD) and on NASDAQ (RADX). The company has a pipeline of distinct and highly differentiated platform technologies spanning peptides, small molecules and monoclonal antibodies for use in cancer. The clinical program includes one Phase 2 and three Phase 1 trials in a variety of solid tumor cancers including lung, breast, and brain metastases. Learn more at radiopharmtheranostics.com.

 

  Authorized on behalf of the Radiopharm Theranostics Board of Directors by Executive Chairman Paul Hopper.  

 

  For more information:  

 

  Investors:  
Riccardo Canevari
CEO & Managing Director
P: +1 862 309 0293
E: rc@radiopharmtheranostics.com

 

Anne Marie Fields
Precision AQ
(Formerly Stern IR)
E: annemarie.fields@precisionaq.com

 

  Media:  
Matt Wright
NWR Communications
P: +61 451 896 420
E: matt@nwrcommunications.com.au

 

  Follow Radiopharm Theranostics:  

 

Website – https://radiopharmtheranostics.com/  
Twitter – https://twitter.com/TeamRadiopharm  
Linked In – https://www.linkedin.com/company/radiopharm-theranostics/  
InvestorHub – https://investorhub.radiopharmtheranostics.com/

 

   

 

 

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Scout Drilling Discovered the Extension of the High-grade Merten Vein Creating an Opportunity to Expand the Dpb Resource up to 1,200 Metres to the East

 

SCOUT PROGRAM HIGHLIGHTS:

 

• Assay results from the Company’s reverse circulation Scout Drill Program (see March 31, 2025 news) returned significant gold & silver values in 7 drillholes that successfully expanded the footprint of mineralization up to 1,200 metres from the east of the existing DPB resource toward the historic Ohio mine;

 

• These intercepts cover a new zone of silver and gold interpreted to be the outer ring structure of the Fraction caldera, and are not included in the 2024 resource;

 

• A fully funded 15 drillhole program totalling up to 5,000 metres is underway; and

 

• Results from this program will be incorporated into an updated Mineral Resource Estimate in Q1, 2026.

 

Vancouver, British Columbia–(Newsfile Corp. – July 21, 2025) – Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock‘ or the ‘Company‘) announces commencement of a fully-funded expansion drill program (‘Expansion Program’) to follow up on the successful Scout Drilling campaign that expanded the DPB South zone 1,200 metres in an easterly direction on its 100% owned Tonopah West project located in Nye and Esmeralda Counties, Nevada, United States.

 

The Expansion Program will utilize one Reverse Circulation (RC) drill overseen by Legacy Drilling and two core drill rigs operated by Alloy Drilling to complete 2,450 metres (8,000 ft) of RC precollars and 2,550 metres (8,400 ft) of core tails across 15 drillholes targeting the Eastern Expansion zone between the DPB resource area and the eastern extent of the project. Drilling is anticipated to be completed in October with assay results expected through year end.

 

Andrew Pollard, Blackrock’s President and CEO, stated, ‘With drills now turning on this fully financed program, we’re stepping out across a 1.2-kilometre corridor with strong potential to significantly expand our mineral inventory at Tonopah West. Scout drilling confirmed the eastern extension of the high-grade Merten vein well beyond the current resource boundary, returning standout grades including 2,063 grams per tonne (g/t) silver equivalent (AgEq) (1,198 g/t silver (Ag) and 9.6 g/t gold (Au)) over 1.52 metres, and 952 g/t AgEq (10 g/t Ag and 10.5 g/t Au) over 4.57 metres. This newly defined zone, situated along the outer ring structure of the Fraction caldera, lies entirely outside our 2024 resource and presents an opportunity to quickly and meaningfully grow the scale of the project. Results from this program are expected to underpin a resource update in Q1 2026. The Company remains on track to deliver a separate resource update in Q3 2025 that will incorporate all results from the recently completed M&I conversion program.’

 

As announced on March 31, 2025, the Company discovered the 1,200 metre eastern extension zone representing the continuation of the outer-ring structure or Fraction caldera margin from DPB South to the historic Ohio mine. The Scout Drilling showed the Merten vein extends eastward and is arched and dips southward. This orientation suggests multiple ring structures associated with the Fraction caldera running across Tonopah West. An inner structure hosting the Victor and DPB North (Denver and Paymaster) resources, and an outer, more southern, ring structure hosting DPB South (Merten and Bermuda) and the NW Stepout resources (See Figure 1). The arching geometry of the Merten vein is similar to that described from the historic Ohio vein which was 15 metres thick when mined in the early 1900s¹. Given the geometry and location, the Merten is potentially the extension of the Ohio vein. Table 1 summarizes the Scout Drilling assay results above 150 g/t AgEq.

 

Table 1: Scout Drilling Program results above 150 g/t AgEq

 

 

 

 

TW25-133 returned significant silver and gold with values starting at 309-metres grading 10.46 g/t gold and 10.6 g/t silver over 4.57 metres (952 g/t AgEq), and show mineralization extends along the Merten vein for 540 meters to the east-southeast of the main DPB South resource. With the inclusion of TW25-128 which returned 9.6 g/t gold and 1198 g/t silver over 1.5-metres (2,063 g/t AgEq), the zone could be up to 1,200-metres in length.

 

The mineralized zone traced by these assay results is new and not included in the 2024 resource. These results could have a substantive impact on the future resource estimate.

 

 

Figure 1: Tonopah West expansion potential

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/259346_2ae57e3a248179b3_001full.jpg

 

 

Figure 2: Drillhole location map with cross section line at location 478540E

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/259346_2ae57e3a248179b3_002full.jpg

 

 

Figure 3: Geologic cross section along 478540E

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/259346_2ae57e3a248179b3_003full.jpg

 

Quality Assurance/ Quality Control

 

All sampling is conducted under the supervision of the Company’s project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The RC samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory’s (AAL) flat-bed truck and delivered to AAL’s facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company’s instructions.

 

The RC samples are lined out at the lab and logged into AAL’s system. The samples are dried, crushed to 85% passing 10 mesh (2mm) and a 250-gram sub-sample split is collected and pulverized to 200 mesh (74 micron) in a ring and puck pulverizer. Then the pulverized material is digested and analyzed for gold using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Over limits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified reference material approximately every 15th to 20th sample.

 

Qualified Persons

 

Blackrock’s exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

 

About Blackrock Silver Corp.

 

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

 

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

 

Cautionary Note Regarding Forward-Looking Statements and Information

 

This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company’s strategic plans; the timing of and successful completion of the Company’s Expansion Program at Tonopah West and the anticipated objectives and results therefrom; timing and estimates of mineral resource quantities and qualities; timing of updated resource estimates; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.

 

These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

 

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.

 

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

 

¹ All historic production information from Nevada Bureau of Mines & Geology, Bulletin 51

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259346

 

 

 

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