Royalty Overview

The Tonopah West royalty was acquired by Gold Royalty in August 2021, through the acquisition of Ely Gold Royalties. The 3.0% NSR covers the entire Tonopah West property, including all mineral resources as of the latest technical report. The royalty also covers the current step-out 10,000-meter drilling program and extends over a 1-mile (1.6 kilometer) Area of Interest.

Project Overview

The Tonopah West project is located in the Nye and Esmeralda counties in Nevada, USA, and is wholly owned and operated by Blackrock Silver. It is stated by Blackrock Silver to be the most active silver exploration project in North America having over 120,000 meters of drilling since June 2020.

On June 16, 2022, Blackrock Silver released a maiden mineral resource estimate over the Tonopah West property. The technical report outlines an inferred mineral resource of 42,600,000 Silver Equivalent Ounces and average metal recovery through cyanide-leaching of 95% for Gold and 87% for Silver. The property is currently being developed with an additional 10,000-meter resource expansion and step-out program underway which has yielded promising results so far, expanding the Denver vein one kilometer beyond the initial maiden resource as well as returning encouraging intercepts.