Junior explorer Blackrock Gold Corp (CVE:BRC) has closed the previously announced placing and raised $300,000 gross for working capital.
The company issued 6 million units at $0.05 each. Each unit consisted of one share and one half of a share purchase warrant.
Each warrant entitles the holder to acquire one further share for $0.10 each until 23 October 2020.
Last month, the company said it would carry out further surface and technical work this year at its Silver Cloud project in Elko County, Nevada, ahead of any potential drilling programme.
In August this year, it said it would delay drilling at the site until a detailed assessment was complete.
A review of the property's geophysical data has now been conducted by consulting geophysicist Jim Wright.
"After a review of Jim Wright's Report -Silver Cloud Geophysical Analysis-2018 GIS Data Base and the geochemical data collected in May 2018, the company believes more surface technical work is warranted prior to a drill program to optimize success," the company said.
Blackrock shares are at $0.07.