RENO, Nev., July 28, 2009 (GLOBE NEWSWIRE) -- Blackrock Resources Inc. (OTCBB:BCKR) is pleased to announce that it has engaged a team of geological engineers, mining engineers, and civil engineers to review all of the data supplied by Global Minerals Ltd. on its proposed joint venture to develop and exploit Global Minerals' Front Range Gold Hill mining project located in Gold Hill, Boulder County, Colorado.
Initial review of the data indicates that Company will be able to mine sufficient ore to supply the expanded mill (currently at 50 tons of ore per day) to an increased capacity of up to 200 tons of ore per day. Based upon previous mining results, this increased capacity would appear to allow the Company to generate between 100 to 200 ounces of gold or gold equivalent per day.
About the Front Range, Gold Hill Mining Project
The Front Range Gold Hill property is located about 16 km west of the city of Boulder, Colorado, USA, and consists of 85 patented and 21 unpatented lode claims, totaling approximately 480 acres (about 3/4 square mile). The property lies in the Gold Hill Mining District of Boulder County, and includes eighteen past producing mines. These mines produced gold, silver, and gold-tellurides from narrow quartz veins hosted in Precambrian granites and gneisses. To date, Global Minerals has spent approximately $8,000,000 on developing the mining project and increasing the mining capability of the underground workings.
About Blackrock Resources Inc.
Blackrock Resources Inc. is an independent mineral exploration company engaged in the acquisition, exploration and development of high-quality gold, silver, and copper properties in North and South America. The Company's objective is to seek high quality resource projects with good exploration and production potential. More information can be found about the Company at its website: http://www.blackrockresourcesinc.com
Forward-Looking Statements
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release.