Canada Markets closed
  • S&P/TSX

    18,444.22
    +2.42 (+0.01%)
     
  • S&P 500

    3,585.62
    -54.85 (-1.51%)
     
  • DOW

    28,725.51
    -500.09 (-1.71%)
     
  • CAD/USD

    0.7275
    +0.0043 (+0.5893%)
     
  • CRUDE OIL

    81.96
    +2.47 (+3.11%)
     
  • BTC-CAD

    26,377.58
    -328.81 (-1.23%)
     
  • CMC Crypto 200

    436.58
    -6.85 (-1.54%)
     
  • GOLD FUTURES

    1,676.70
    +4.70 (+0.28%)
     
  • RUSSELL 2000

    1,664.72
    -10.21 (-0.61%)
     
  • 10-Yr Bond

    3.8040
    +0.0570 (+1.52%)
     
  • NASDAQ futures

    11,007.25
    -28.25 (-0.26%)
     
  • VOLATILITY

    31.62
    -0.22 (-0.69%)
     
  • FTSE

    6,893.81
    +12.22 (+0.18%)
     
  • NIKKEI 225

    26,115.33
    +178.12 (+0.69%)
     
  • CAD/EUR

    0.7406
    +0.0031 (+0.42%)
     

Rokmaster Provides Update on the Revel Ridge Project

·9 min read

VANCOUVER, BC, June 21, 2022 /CNW/ - Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or "the Company") is pleased to provide an update of the exploration programs at the Revel Ridge Project ("Revel Ridge" or "the Project").

Rokmaster Resources Corp. Logo (CNW Group/Rokmaster Resources Corp.)
Rokmaster Resources Corp. Logo (CNW Group/Rokmaster Resources Corp.)

The spring 2022 drill program concluded on June 15, 2022 which had a total of 3,246 metres of drilling in ten drillholes, all of which successfully intersected the Revel Ridge deformation zone structure. All drill core samples have been delivered to the laboratory and results will be published as they are compiled. Rokmaster has now completed approximately 34,000 metres of drilling in 95 drillholes since September 2020.

With the recently achieved overall gold recoveries of 96.8% (see June 1st, 2022 News Release), Rokmaster is eager to incorporate its repeatable gold extraction process together with its expanded drill program results towards an updated Preliminary Economic Assessment ("PEA") which is expected to be completed in the fourth quarter of 2022.

Commencing in July 2022, the Company plans to initiate its summer drill program totalling approximately 5,000 metres. This program will test the main deformation zone from surface to the southeast, including the Zinc Creek showing area which occurs along strike approximately 950 m to the southeast, and shares many characteristics of the Revel Ridge Main Zone ("RRMZ") mineralization. The program will also test the RRMZ and Yellowjacket Zones ("RRYZ") to the northwest, down-dip from certain 2021 surface drillholes which returned strong RRMZ and RRYZ intersections.

The current resource at Revel Ridge consists of:

  • Measured & Indicated (M&I): 1.36 million gold equivalent ("AuEq") ounces contained within 6.73 million tonnes with an average grade of 6.27 g/t AuEq.*

  • Inferred (Inf): 1.22 million AuEq ounces contained within 6.00 million tonnes at an average grade of 6.33 g/t AuEq.*

John Mirko, President and CEO of Rokmaster stated:

"Rokmaster's aggressive drill programs continue to target areas well outside of the current Mineral Resource boundaries, with previously revised AuEq values documented in the Measured, Indicated, and Inferred early 2022 Mineral Resource Estimate. Rokmaster previously added significant AuEq ounces in every classification, and with the Revel Ridge Project hosting one of the largest undeveloped orogenic polymetallic-gold deposits in the Western Cordillera, we are optimistic about continued expansion with each successive drill program. The RRMZ currently has a strike length exceeding 3.2 km with a down-dip extent exceeding 1.2 km as defined by diamond drilling. Geological and geochemical data suggests that the Revel Ridge deformation zone, the structure hosting the RRMZ mineralization, has a strike length exceeding 6 km so the potential area to explore is nearly double the current extent of the RRMZ. Given the recent metallurgical test achievements showing overall gold recoveries of 96.8% in the Revel Ridge Main Zone and the continued expansion of known mineralized zones, I'm confident the Revel Ridge Project has been significantly de-risked and is on track to moving Rokmaster closer to achieving its goal of becoming a significant producer."

Corporate Updates

Rokmaster is pleased to report the appointment of Mr. Connor Malek, B.Sc. to the position of Vice President of Exploration for the Company. Mr. Malek has been active in the mineral exploration business for over 12 years. Following two years' experience in remote geochemical sampling and underground and open-pit gold production in Western Australia, Mr. Malek completed a B.Sc. (High Honors) in Geology from the University of Saskatchewan. Mr. Malek then assisted with the expansion of Nexgen Energy's Arrow uranium deposit before starting with a partner at First Geolas Consulting, where he worked for multiple mineral exploration companies while prospecting and developing exploration projects. With extensive experience in the research and exploration of many commodities in multiple geological environments and jurisdictions, Mr. Malek has come to manage numerous prospecting, geochemical sampling, geophysical, and complex drilling programs, specializing in efficient planning, execution and reporting on field work. Connor will continue to work closely with Dr. Jim Oliver on the Company's Revel Ridge Project.

In addition, the Company has granted 5,000,000 incentive stock options to certain directors, officers, consultants and advisors of the Company under the Company's stock option plan. The options are exercisable for a period of 5 years at an exercise price of $0.20 per common share.

On Behalf of the Board of Directors of

Rokmaster Resources Corp.

John Mirko,
President & Chief Executive Officer.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

About Rokmaster

Rokmaster controls a portfolio of three significant exploration and development projects all of which are located in southern British Columbia in regions of excellent infrastructure. The three projects include:

  1. Revel Ridge. Rokmaster is currently updating a PEA and conducting  property wide exploration and drill programs at the Revel Ridge Project located in southeastern British Columbia 35 km's north of the City of Revelstoke. Revel Ridge is host to a high-grade gold and polymetallic orogenic sulphide deposit which has been the subject of a PEA Technical Report dated December 8, 2020 and a Technical Report of an Updated Mineral Resource Estimate on the Revel Ridge Property, dated January 17, 2022.

  2. Big Copper. Rokmaster controls the Big Copper Property in the Kimberley area of southern British Columbia. Big Copper is a high-grade copper-silver occurrence hosted in mid-Proterozoic rocks. Copper-silver mineralization has been traced for 4.5 km along strike and is exposed in a series of adits and trenches over approximately 500 m of vertical relief. Big Copper likely belongs to a class of stratabound replacement copper-silver deposits hosted within mid – Proterozoic quartzitic sediments. The style and stratigraphic setting of mineralization at Big Copper may be analogous to similar stratabound silver-copper deposits in NW Montana, e.g., the Troy Mine (a significant past producer of copper and silver) and Hecla's Montanore pre-development project, with, 112 million tonnes Inferred at 54.8 g/t Ag and 0.7% Cu*. (Hecla, 2020 Annual Report, Pg. 119. www.hecla-mining.com).1Footnote (1). The qualified person has been unable to verify this inferred resource.

  3. Duncan Lake Zinc. Duncan is a carbonate hosted silver-lead-zinc deposit located near Duncan Lake in southern British Columbia. The deposit is hosted within a Cambrian age Badshot Limestone which also hosts Zn-Pb-Ag mineralization at Teck's recently producing Pend Oreille Mine as well as past producers including the Blue Bell Mine, Reeves MacDonald Mine, Jersey Emerald and HB mines. Mineralization at Duncan Lake forms in the crest and limbs of the regional scale Duncan Lake anticline, where strong zinc-lead +/- silver mineralization has been traced by surface and underground drilling for approximately 2,500 m. At Duncan Lake, Rokmaster will be targeting > 30 Mt of 8-10% Zn,+Pb+Ag. Historical background and a geological synthesis of the Duncan Lake deposit is provided in a NI 43-101 report by Lane, B., 2018: Technical Report on the Duncan Lake Project.

Quality Assurance/Quality Control. Dr. Jim Oliver, P. Geo. supervised all aspects of the drilling and sampling undertaken in the 2021 and 2022 underground and surface diamond drill program. All assay samples have been collected from ½ HQ core, sawn with a diamond saw with the sample intervals marked by technical personnel. A full QAQC program using blanks, standards and duplicates was utilized to monitor analytical accuracy and precision. QAQC samples are submitted approximately at every 20th sample, or a minimum of 5% of the total sample stream. Appropriate standards are used to provide quality control information on high grade and medium to low grade samples. A limestone blank is inserted after any sample that has macroscale characteristics of higher-grade mineralization. Duplicate samples are repeat analysis of designated primary sample pulps. The samples were sealed on site and shipped to MSALABS in Langley, British Columbia. MSALABS is an ISO 17025 (Testing and Calibration Laboratory) and an ISO 9001 (Quality Management System) Certified Laboratory. Drill core samples were crushed to 2 mm and a 500-gram sub sample was pulverized with 85% of the sample passing 75 microns. The sub-sample was analysed using a combination of MSALABS FAS211 for Au and ICP–240 (4 acid digestion) for silver, base metals and other trace elements. FAS211 for gold is an ore grade fire assay of a 50 g pulp with an AAS finish with a detection range between 0.01 and 100 ppm). ICP-240 utilizes four acid digestion and provides ore grade analytical data on silver, base metals and 26 other elements.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Eric Titley P.Geo., who is independent of Rokmaster and who acts as Rokmaster's Qualified Person.

*(Technical Report and Updated Mineral Resource Estimate of the Revel Ridge Polymetallic Property Revelstoke Mining Division, British Columbia, Canada, William Stone, Ph.D., P.Geo. Fred Brown, P.Geo. Jarita Barry, P.Geo. David Burga, P.Geo. Eugene Puritch, P.Eng., FEC, CET Stacy Freudigmann, P.Eng. F.Aus.IMM. P&E Mining Consultants Inc. Report 411 Effective Date: November 15, 2021 Signing Date: January 17, 2022 filed on SEDAR.)

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

SOURCE Rokmaster Resources Corp.

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/21/c7724.html