Blackrock Silver Announces Updated Preliminary Economic Assessment for Its Tonopah West Project in Nevada; +10 Year Mine Life Fortified by 90% Increase in Indicated Mineral Resources
Original announcement by tmx on
- Company
- Blackrock Silver Corp.
- Ticker
- BKRRF
- Exchange
- TSX
- Region
- Nevada, United States
- Primary commodity
- Silver
- Secondary commodities
- Gold
- Document categories
- Resource update, Production, Metallurgy
- Extracted
- 2026-09-13 14:42:36 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Blackrock Silver has announced an updated Preliminary Economic Assessment (PEA) for its Tonopah West Project in Nevada, highlighting a 90% increase in indicated mineral resources. The PEA outlines robust economics with an after-tax IRR of 28% and a US$437 million NPV over an 11.2-year mine life, based on conservative metal prices. The project also boasts high metallurgical recoveries of 91.6% for silver and 96.3% for gold, with low All-In Sustaining Costs (AISC) of US$17.44 per silver equivalent ounce.
Reasoning: The updated Preliminary Economic Assessment (PEA) for the Tonopah West Project demonstrates significantly improved project economics and a substantial increase in higher-confidence indicated mineral resources, which substantially de-risks the project and extends its mine life. High metallurgical recoveries further enhance the project's viability.
Positive factors
- Significant 90% increase in indicated mineral resources, de-risking the project.
- Robust project economics with a 28% after-tax IRR and US$437 million NPV at base case prices.
- Long mine life of 11.2 years.
- Low All-In Sustaining Costs (AISC) of US$17.44/oz AgEq.
- High metallurgical recoveries for both silver (91.6%) and gold (96.3%).
- NI 43-101 compliant resource estimate and PEA.
Negative factors
- A significant portion of the total resource remains in the inferred category.
- The PEA is preliminary in nature and includes inferred mineral resources, which are considered too speculative geologically to be classified as mineral reserves.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 25
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The document reports a 90% increase in indicated mineral resources, indicating a significant upgrade in resource confidence.
Evidence · text
“90% Increase in Indicated Mineral Resources”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The indicated silver equivalent ounces increased by 90% from the previous MRE, representing a substantial growth in contained metal.
Evidence · text
“40.2 million ounces of AgEq ... - a 90% increase over the previous mineral resource estimate”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The PEA and MRE were prepared in accordance with National Instrument 43-101 standards.
Evidence · text
“in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (" NI 43-101 ")”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Multiple Qualified Persons are named as responsible for the PEA and MRE, and have verified and approved the contents of the news release.
Evidence · text
“The "Qualified Persons" (as defined by NI 43-101) who were responsible for the PEA and MRE and who have verified and approved the contents of this news release are Robert H. Todd, P.E., of Minetech, Jeffery Bickel, C.P.G (AIPG) of RESPEC, Travis Manning, P.E., QP of Kappes, Cassiday & Associates, Thomas H. Bagan, P.E., MBA, SME-RM, an independent consulting mining engineer and Richard DeLong, QP of Westland Engineering and Environmental Inc.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade of 140 g/t AgEq is clearly stated for the resource estimate.
Evidence · table
“140”
Context: 2,750
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Average recoveries of 91.6% for silver and 96.3% for gold are high for the stated processing route.
Evidence · text
“Life-of-mine metal recovery averages 91.6% for silver and 96.3% for gold.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: A significant portion of the resource, 5.54 million tonnes grading 466 g/t AgEq for 83 million ounces, is in the inferred category.
Evidence · table
“Inferred”
Context: 5,538
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: The resource estimate was prepared to support a Preliminary Economic Assessment.
Evidence · text
“Blackrock Silver Announces Updated Preliminary Economic Assessment for Its Tonopah West Project”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces an updated mineral resource estimate for the project.
Evidence · text
“updated mineral resource estimate prepared by RESPEC Company, LLC”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Extracted facts
Stored fact records: 25. Some facts used in scoring do not have a stored record.
Resource Estimates (23)
indicatedTonopah West Project · goldTonnes: 2750000Grade: 2.25Grade Unit: g/tContained Metal: 199000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:b671b67ace93da540aab
- Deposit or zone
- TOTAL
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2750000
- Grade
- 2.25
- Grade Unit
- g/t
- Contained Metal
- 199000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 454.3
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: This indicated gold resource contributes to the overall positive resource update, providing higher confidence in the project's gold endowment.
Positive factors
- High-confidence indicated resource category.
- Contributes to a significant increase in overall indicated resources.
Evidence · table
“2.25”
Context: 2,750,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · silverTonnes: 2750000Grade: 216.8Grade Unit: g/tContained Metal: 19167000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:b671b67ace93da540aab
- Deposit or zone
- TOTAL
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2750000
- Grade
- 216.8
- Grade Unit
- g/t
- Contained Metal
- 19167000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 454.3
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: This indicated silver resource contributes to the overall positive resource update, providing higher confidence in the project's silver endowment.
Positive factors
- High-confidence indicated resource category.
- Contributes to a significant increase in overall indicated resources.
Evidence · table
“216.8”
Context: 2,750,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · silverTonnes: 2750000Grade: 454.3Grade Unit: g/tContained Metal: 40159000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:be15b57aff3b55967438
- Deposit or zone
- TOTAL
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2750000
- Grade
- 454.3
- Grade Unit
- g/t
- Contained Metal
- 40159000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
- Prior Contained Metal
- 21157895
Metal Equivalent
- Metal Eq. Grade
- 454.3
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The substantial increase in indicated silver equivalent ounces is a key positive outcome of the updated resource estimate, demonstrating significant project de-risking and growth in higher-confidence resources.
Positive factors
- Represents a 90% increase in indicated AgEq ounces over the previous MRE, significantly de-risking the project.
- High-confidence indicated resource category.
Evidence · table
“454.3”
Context: 2,750
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 40159000 against 21157895 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · goldTonnes: 5538000Grade: 2.62Grade Unit: g/tContained Metal: 467000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:601bec83dc4b307aa569
- Deposit or zone
- TOTAL
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5538000
- Grade
- 2.62
- Grade Unit
- g/t
- Contained Metal
- 467000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 465.8
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: This inferred gold resource contributes to the overall project scale, but its lower confidence category means it is more speculative than indicated resources.
Positive factors
- Adds to the overall resource base, indicating future potential.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“2.62”
Context: 5,538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · silverTonnes: 5538000Grade: 188.5Grade Unit: g/tContained Metal: 82944000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:601bec83dc4b307aa569
- Deposit or zone
- TOTAL
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5538000
- Grade
- 188.5
- Grade Unit
- g/t
- Contained Metal
- 82944000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 465.8
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The large inferred silver equivalent resource indicates significant potential for project growth, though its speculative nature requires further drilling to upgrade confidence.
Positive factors
- Significant inferred resource base provides substantial upside potential for future conversion to higher confidence categories.
Negative factors
- Inferred category has lower geological confidence and cannot be used for economic studies alone.
Evidence · table
“188.5”
Context: 5,538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · goldTonnes: 882000Grade: 2.65Grade Unit: g/tContained Metal: 75000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:66e0f09b6fcbe3f61f98
- Deposit or zone
- Victor
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 882000
- Grade
- 2.65
- Grade Unit
- g/t
- Contained Metal
- 75000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 525.2
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The indicated gold resource in the Victor area adds to the project's higher-confidence resource base, supporting the overall positive update.
Positive factors
- High-confidence indicated resource in a key area.
- Contributes to the overall increase in indicated resources.
Evidence · table
“2.65”
Context: 882,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · silverTonnes: 882000Grade: 255.2Grade Unit: g/tContained Metal: 14899000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:66e0f09b6fcbe3f61f98
- Deposit or zone
- Victor
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 882000
- Grade
- 255.2
- Grade Unit
- g/t
- Contained Metal
- 14899000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 525.2
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The high-grade indicated silver equivalent resource in the Victor area is a strong positive, enhancing the project's overall confidence and economic potential.
Positive factors
- High-grade indicated silver equivalent resource in a key area.
- Contributes significantly to the overall increase in indicated resources.
Evidence · table
“255.2”
Context: 882,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · goldTonnes: 1854000Grade: 2.82Grade Unit: g/tContained Metal: 168000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:bad46032ebe214a3cfa3
- Deposit or zone
- Victor
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1854000
- Grade
- 2.82
- Grade Unit
- g/t
- Contained Metal
- 168000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 509.2
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: This inferred gold resource in the Victor area contributes to the project's overall scale, but its lower confidence category means it is more speculative.
Positive factors
- Adds to the overall resource base, indicating future potential in the Victor area.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“2.82”
Context: 1,854,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · silverTonnes: 1854000Grade: 221.7Grade Unit: g/tContained Metal: 30354000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:bad46032ebe214a3cfa3
- Deposit or zone
- Victor
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1854000
- Grade
- 221.7
- Grade Unit
- g/t
- Contained Metal
- 30354000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 509.2
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The large inferred silver equivalent resource in the Victor area indicates significant potential for project growth, though further work is needed to upgrade its confidence.
Positive factors
- Significant inferred silver equivalent resource in the Victor area provides substantial upside potential.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“221.7”
Context: 1,854,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · goldTonnes: 263000Grade: 1.79Grade Unit: g/tContained Metal: 15000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:7ae8dcbfea4785093e21
- Deposit or zone
- DPB North
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 263000
- Grade
- 1.79
- Grade Unit
- g/t
- Contained Metal
- 15000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 339.4
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The indicated gold resource in the DPB North area adds to the project's higher-confidence resource base, supporting the overall positive update.
Positive factors
- High-confidence indicated resource in the DPB North area.
- Contributes to the overall increase in indicated resources.
Evidence · table
“1.79”
Context: 263,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · silverTonnes: 263000Grade: 146.1Grade Unit: g/tContained Metal: 2865000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:7ae8dcbfea4785093e21
- Deposit or zone
- DPB North
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 263000
- Grade
- 146.1
- Grade Unit
- g/t
- Contained Metal
- 2865000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 339.4
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The high-grade indicated silver equivalent resource in the DPB North area is a strong positive, enhancing the project's overall confidence and economic potential.
Positive factors
- High-grade indicated silver equivalent resource in the DPB North area.
- Contributes significantly to the overall increase in indicated resources.
Evidence · table
“146.1”
Context: 263,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · goldTonnes: 1686000Grade: 2.68Grade Unit: g/tContained Metal: 145000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:c43880c894cb880d3f4d
- Deposit or zone
- DPB North
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1686000
- Grade
- 2.68
- Grade Unit
- g/t
- Contained Metal
- 145000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 482.9
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: This inferred gold resource in the DPB North area contributes to the project's overall scale, but its lower confidence category means it is more speculative.
Positive factors
- Adds to the overall resource base, indicating future potential in the DPB North area.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“2.68”
Context: 1,686,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · silverTonnes: 1686000Grade: 193.9Grade Unit: g/tContained Metal: 26180000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:c43880c894cb880d3f4d
- Deposit or zone
- DPB North
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1686000
- Grade
- 193.9
- Grade Unit
- g/t
- Contained Metal
- 26180000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 482.9
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The large inferred silver equivalent resource in the DPB North area indicates significant potential for project growth, though further work is needed to upgrade confidence.
Positive factors
- Significant inferred silver equivalent resource in the DPB North area provides substantial upside potential.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“193.9”
Context: 1,686,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · goldTonnes: 1281000Grade: 2.12Grade Unit: g/tContained Metal: 87000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:229729563fa42ffe648c
- Deposit or zone
- DPB South
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1281000
- Grade
- 2.12
- Grade Unit
- g/t
- Contained Metal
- 87000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 442
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The indicated gold resource in the DPB South area adds to the project's higher-confidence resource base, supporting the overall positive update.
Positive factors
- High-confidence indicated resource in the DPB South area.
- Contributes to the overall increase in indicated resources.
Evidence · table
“2.12”
Context: 1,281,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · silverTonnes: 1281000Grade: 213.3Grade Unit: g/tContained Metal: 18209000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:229729563fa42ffe648c
- Deposit or zone
- DPB South
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1281000
- Grade
- 213.3
- Grade Unit
- g/t
- Contained Metal
- 18209000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 442
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The high-grade indicated silver equivalent resource in the DPB South area is a strong positive, enhancing the project's overall confidence and economic potential.
Positive factors
- High-grade indicated silver equivalent resource in the DPB South area.
- Contributes significantly to the overall increase in indicated resources.
Evidence · table
“213.3”
Context: 1,281,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · goldTonnes: 485000Grade: 2.02Grade Unit: g/tContained Metal: 31000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:e6b844dab2ea8be5bd3e
- Deposit or zone
- DPB South
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 485000
- Grade
- 2.02
- Grade Unit
- g/t
- Contained Metal
- 31000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 305.5
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: This inferred gold resource in the DPB South area contributes to the project's overall scale, but its lower confidence category means it is more speculative.
Positive factors
- Adds to the overall resource base, indicating future potential in the DPB South area.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“2.02”
Context: 485,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · silverTonnes: 485000Grade: 87.5Grade Unit: g/tContained Metal: 4763000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:e6b844dab2ea8be5bd3e
- Deposit or zone
- DPB South
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 485000
- Grade
- 87.5
- Grade Unit
- g/t
- Contained Metal
- 4763000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 305.5
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The inferred silver equivalent resource in the DPB South area indicates potential for project growth, though further work is needed to upgrade its confidence.
Positive factors
- Inferred silver equivalent resource in the DPB South area provides upside potential.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“87.5”
Context: 485,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · goldTonnes: 323000Grade: 2.03Grade Unit: g/tContained Metal: 21000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:bedf06e9f76dbb9c3e70
- Deposit or zone
- NW Step Out
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 323000
- Grade
- 2.03
- Grade Unit
- g/t
- Contained Metal
- 21000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 402.8
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The indicated gold resource in the new NW Step Out area adds to the project's higher-confidence resource base and demonstrates potential for expansion.
Positive factors
- High-confidence indicated resource in the NW Step Out area.
- Represents a new extension of vein zones.
Evidence · table
“2.03”
Context: 323,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedTonopah West Project · silverTonnes: 323000Grade: 183.4Grade Unit: g/tContained Metal: 4186000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:bedf06e9f76dbb9c3e70
- Deposit or zone
- NW Step Out
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 323000
- Grade
- 183.4
- Grade Unit
- g/t
- Contained Metal
- 4186000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 402.8
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The indicated silver equivalent resource in the NW Step Out area is a positive for future growth, though its exclusion from the current mine plan limits immediate economic impact.
Positive factors
- High-grade indicated silver equivalent resource in the new NW Step Out area.
- Represents a new extension of vein zones, indicating growth potential.
Negative factors
- Resources from this area are excluded from the current PEA mine plan.
Evidence · table
“183.4”
Context: 323,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · goldTonnes: 622000Grade: 1.67Grade Unit: g/tContained Metal: 33000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:ed4c9e75064d9b305712
- Deposit or zone
- NW Step Out
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 622000
- Grade
- 1.67
- Grade Unit
- g/t
- Contained Metal
- 33000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 327
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: This inferred gold resource in the NW Step Out area contributes to the project's overall scale, but its lower confidence and exclusion from the mine plan limit immediate impact.
Positive factors
- Adds to the overall resource base, indicating future potential in the NW Step Out area.
Negative factors
- Inferred category has lower geological confidence.
- Resources from this area are excluded from the current PEA mine plan.
Evidence · table
“1.67”
Context: 622,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · silverTonnes: 622000Grade: 146.7Grade Unit: g/tContained Metal: 6538000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:ed4c9e75064d9b305712
- Deposit or zone
- NW Step Out
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 622000
- Grade
- 146.7
- Grade Unit
- g/t
- Contained Metal
- 6538000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 327
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The inferred silver equivalent resource in the NW Step Out area indicates potential for project growth, though its exclusion from the mine plan and lower confidence limit immediate impact.
Positive factors
- Inferred silver equivalent resource in the NW Step Out area provides upside potential for future growth.
Negative factors
- Inferred category has lower geological confidence.
- Resources from this area are excluded from the current PEA mine plan.
Evidence · table
“146.7”
Context: 622,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · goldTonnes: 891000Grade: 3.1Grade Unit: g/tContained Metal: 89000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:09f76975e68fbabfe0df
- Deposit or zone
- East Extension
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 891000
- Grade
- 3.1
- Grade Unit
- g/t
- Contained Metal
- 89000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 527.3
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: This inferred gold resource in the East Extension area contributes to the project's overall scale, but its lower confidence category means it is more speculative.
Positive factors
- Adds to the overall resource base, indicating future potential in the East Extension area.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“3.10”
Context: 891,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredTonopah West Project · silverTonnes: 891000Grade: 193Grade Unit: g/tContained Metal: 15109000Contained Unit: ozView all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Resource scope
- Estimate type
- resource
- Effective date
- 2026-01-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jeffrey Bickel
- Resource group id
- resource:09f76975e68fbabfe0df
- Deposit or zone
- East Extension
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 891000
- Grade
- 193
- Grade Unit
- g/t
- Contained Metal
- 15109000
- Contained Unit
- oz
- Cutoff Grade
- 140
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-01-04
Metal Equivalent
- Metal Eq. Grade
- 527.3
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The large inferred silver equivalent resource in the East Extension area indicates significant potential for project growth, though further work is needed to upgrade confidence.
Positive factors
- Significant inferred silver equivalent resource in the East Extension area provides substantial upside potential.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“193.0”
Context: 891,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Metallurgical Results (2)
agitated cyanide leachingTonopah West Project · goldRecovery: 96.3 %View all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Test Work
- Program Status
- detailed
- Test Type
- agitated cyanide leaching
- Processing Route
- 3-stage crushing, milling, agitated cyanide leaching, Merrill-Crowe zinc precipitation, precipitate smelting
Recovery
- Recovery
- 96.3 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- Kappes, Cassiday and Associates
- Consultant
- Travis Manning
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The high gold recovery achieved through a conventional processing route is a strong positive, supporting the project's economic viability.
Positive factors
- Very high gold recovery (96.3%) indicates efficient processing.
- Conventional and proven processing route.
Evidence · text
“Life-of-mine metal recovery averages 91.6% for silver and 96.3% for gold.”
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 96.3% is at or above the exceptional band (95%)
agitated cyanide leachingTonopah West Project · silverRecovery: 91.6 %View all detailsHide details
Identity
- Project
- Tonopah West Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada, United States
- Ticker
- BKRRF
Test Work
- Program Status
- detailed
- Test Type
- agitated cyanide leaching
- Processing Route
- 3-stage crushing, milling, agitated cyanide leaching, Merrill-Crowe zinc precipitation, precipitate smelting
Recovery
- Recovery
- 91.6 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- Kappes, Cassiday and Associates
- Consultant
- Travis Manning
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-31T00:00:00.000Z
Reasoning: The high silver recovery achieved through a conventional processing route is a strong positive, supporting the project's economic viability.
Positive factors
- High silver recovery (91.6%) indicates efficient processing.
- Conventional and proven processing route.
Evidence · text
“Life-of-mine metal recovery averages 91.6% for silver and 96.3% for gold.”
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 91.6% is at or above the exceptional band (90%)
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.