Vancouver, February 28, 2022 – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) (“Rokmaster” or the “Company”) is pleased to provide a summary of the past year of activities at its flagship high-grade orogenic gold and polymetallic Revel Ridge Project in southeastern British Columbia, Canada.
2021 Year in Review
Rokmaster president and chief executive officer John Mirko commented: “The past year has been transformative for Rokmaster both at the project and corporate levels. On the corporate side, Rokmaster raised over $14 Million between year-end 2020 and February 2022. These funds have been used to advance integrated exploration programs culminating in the drilling of over 30,000 metres of diamond drill core in 87 surface and underground diamond drillholes resulting in significant expansion of the gold equivalent mineral resource estimate (Rokmaster News Release Dec. 1, 2021) and enhancement in process metallurgy (Rokmaster News Release Jan. 27, 2022). Increased metal recoveries from the Main Zone are a major milestone significantly de-risking the Revel Ridge Project. Rokmaster’s advances in developing a realistic, repeatable, and economic metallurgical process for the deposit removes the single largest economic hurdle to its development and provides a strong opportunity to its shareholders.”
Below is a summary of Rokmaster’s achievements in 2020/2021 and goals for 2022:
Drilling and Exploration Programs
Rokmaster discovered and advanced several important new zones and expanded known zones through prospecting, geological mapping, sampling, and drilling, as documented in the revised mineral resource estimate (“MRE”) (Rokmaster News Release, Dec.1, 2021). To date, Rokmaster has drilled less than 25% of the known strike length of the Main Zone structure which hosts gold-rich polymetallic sulphides. The Main Zone and related zones remain open in virtually all directions, and the consequent probability is high that drill testing of these targets will result in the expansion of existing mineralized zones. Deeper drilling within the Main Zone has also indicated the potential for significant new mineralized zones containing coarse visible particulate free gold (see press release dated June 7, 2021). Rokmaster is targeting zones containing macroscale gold for further testing.
Rokmaster’s metallurgical test work has markedly improved the process for precious metals recoveries from the polymetallic, gold-rich Revel Ridge mineralized zones through the design and management by Canenco Consulting Corp., and utilizing global leaders in this field; SGS Lakefield, Base Metallurgical Laboratories, and Metso: Outotec Group. Advances in the process metallurgy of the Revel Ridge gold-rich polymetallic ores is related to:
- Decreased gold concentrate mass pull to 27.8% from historical average of 55.5% for an autoclave feed. This decreases the feed tonnage that would enter the pressure oxidation and leach circuits, subsequently decreasing the plant footprint, decreases energy requirements for treatment and decreases overall associated relative capital.
- Although the mass pull has decreased, Rokmaster has upgraded the gold concentrate from 17.9 g/t Au to 28.3 g/t Au.
- Fourteen large diameter HQ metallurgical drillholes have been completed and the initial assay results reported (Rokmaster News Release, Jan. 27,2002). That program objective is to clarify the variations in metallurgical characteristics, including the development of macroscale gold, within the broader Main Mineralized zone.
Positive results from the 2020 and 2021 underground and surface drill programs resulted in a significantly enhanced Revel Ridge resource: Measured and Indicated (“M&I”) mineral resource, in all included zones, 1.36 million gold equivalent (“AuEq”) ounces contained within 6.73 million tonnes with an average grade of 6.27 g/t AuEq. Inferred mineral resource, in all included zones, 1.22 million AuEq ounces contained within 6.00 million tonnes at an average grade of 6.33 g/t AuEq (Rokmaster News Release Dec. 1, 2021).
Over the past year, Rokmaster has raised over $14 Million, has further strengthened its professional team by adding industry veterans Mike Kordysz as Vice President, Business Development and Strategy, Craig Parry as a Senior Advisor, and Stacy Freudigmann, P. Eng., as Senior Metallurgical Consultant
Additionally, Rokmaster has initiated the spin-out of its robust copper and zinc base metal projects, Big Copper and Duncan Lake Zinc, into a new company, 4Metals Exploration Ltd. Rokmaster is excited about this value-creation opportunity, and will continue to focus on exploring and developing its flagship Revel Ridge Project.
2022 Outlook & Objectives
Rokmaster’s 2022 program will focus on three principal areas: (i) gold resource expansion (ii) metallurgical studies, and (iii) enhanced and innovative corporate strategies.
Gold Resource Expansion – Diamond Drilling
Rokmaster intends to further increase the gold equivalent resource in the immediate “mine” area through continued exploration and drilling. Ongoing technical studies are better defining the orientation, extent, and controls on higher-grade mineralized zones. All these targets are accessible with surface and underground drillholes of moderate length, 300 – 700 m. An initial program of 10,000 m of NQ drilling will test targets proximal to the gold mineralized zones defined by the 2021 MRE (see press release dated December 1, 2021).
The surface expression of the Revel Ridge Main Zone has been traced for approximately 2.5 km to the southeast of the Revel Ridge underground workings. In 1991, shallow surface drillholes successfully intersected gold-rich polymetallic mineralized zones on strike to the southeast. No follow-up on these mineralized drillholes has ever been undertaken. These drillholes are within a few hundred m of the 2021 MRE and represent high priority drill targets. Rokmaster intends to dedicate approximately 5,000 m of NQ drilling along this target corridor.
- Metallurgical Programs
Revisions and updates in the Revel Ridge metallurgy will continue to guide the development of an advanced process flowsheet which will favorably impact project costs and economics. The recent metallurgical drill program (3,000 m of HQ core) tests the metallurgical characteristics of the Main Zone mineralization over distances exceeding 700 m of strike and from 890 to 390 m in elevation (Rokmaster News Release of January 27, 2022. The results of these studies will further characterize the potential for positive metallurgical zonation.
- Enhanced and Innovative Corporate Strategies
Revel Ridge is recognized as one of the premier, gold dominant, undeveloped gold deposits in the western cordillera. Rokmaster’s management is confident in its ability to meet all funding requirements for the project over the next several years. A broad range of financing opportunities exist within Rokmaster’s financial toolbox. Management intends to pursue the opportunities which will prove most beneficial to its shareholders, and which will provide the means to drive this exceptional deposit forward.
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 the Company and who acts as Rokmaster’s Qualified Person.
For more information, please contact Mr. John Mirko, CEO of Rokmaster Resources, firstname.lastname@example.org, Ph. 1-604-290-4647. An updated corporate presentation, figures and photos are available on Rokmaster’s website at https://www.rokmaster.com/projects/revel-ridge/
For shareholder information please contact: Mike Kordysz, email@example.com, Ph. +1 (604) 319-3171On Behalf of the Board of Directors of
Rokmaster Resources Corp.
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.
Rokmaster controls a portfolio of three significant exploration and development projects all of which are in southern British Columbia in regions of excellent infrastructure. The three projects include:
Revel Ridge. Rokmaster is currently conducting an underground drill program at the Revel Ridge project located in southeastern British Columbia 35 km’s north of the City of Revelstoke. Revel Ridge is a high-grade gold and polymetallic orogenic sulphide deposit which has been the subject of a PEA Technical Report dated December 8, 2020. 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.