Blackrock Gold Corp (CVE:BRC) announced Tuesday that it has appointed mining executive Andrew Pollard to lead the company as CEO and a member of the board of directors.
Shares of Blackrock jumped 50% higer on the back of the news to trade at C$0.05 on Tuesday.
Pollard has nearly 15 years of experience as a management consultant within the mining industry. He founded the Mining Recruitment Group Ltd, where he amassed a large executive network in the mining and capital markets sectors.
Blackrock also announced that outgoing CEO Greg Schifrin has resigned to pursue other opportunities and surrendered 750,000 stock options granted to him last year at $0.12 per share. In a statement, the junior company thanked Schifrin and wished him the best in his future endeavours.
“My expertise in the resource space is focused on building world-class management teams and experience dictates that quality assets like the Silver Cloud tend to attract quality management teams,” said Pollard in a statement. “My role here is to leverage my extensive network to source and build a management team capable of advancing this project and driving shareholder value."
Blackrock's Silver Cloud gold project is situated within the Northern Nevada Rift, one of the richest gold districts in the world. Previous drilling by Teck and subsequently Placer nearly two decades ago resulted in multiple high-grade gold drill intercepts, which Blackrock is hoping to further explore.
“Despite trying times in the resource space, Nevada remains a hotbed of activity both for discovery and acquisitions,” Pollard said in a statement.
As part of his appointment, Pollard will also receive 750,000 incentive stock options, which are subject to the terms and conditions of the company's stock option plan and the policies of the TSX Venture Exchange. The shares may be exercised at a price of $0.05 per share for a term of five years.
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