Blackrock Gold Corp. (TSX.V: BRC) ("Blackrock", or the "Company") announced on October 24, 2016, the signing of a Letter of Intent (the "LOI") to earn up to an 80% interest in the Portrero Au-Ag project ("El Portrero"), located 235km NW of the city of Durango, Mexico.
Subsequent to the signing of the LOI, the Company completed a sampling program on El Portrero, and submitted 75 rock samples to ALS Canada Ltd., for assay. The gold and silver values in the rock samples were determined to not be high enough to provide sufficient encouragement to proceed further with El Portero and, as such, the Company has withdrawn from the LOI on El Portrero, and has terminated the agreement, effective immediately.
The Board and management of Blackrock are actively pursuing other projects of interest; further information will be provided when available.
Source: Blackrock Gold
