(TSXV): RKR
(Frankfurt): 1RR
(OTC:Pink):
RKMSF
VANCOUVER, Feb. 25, 2020 /CNW/ - Rokmaster Resources Corp.
("Rokmaster" or the "Company") is pleased to announce
that further to its news release of December
30, 2019, it has received regulatory approval to pay, and
has now paid, the first option payment of $200,000 due under its Option Agreement dated
December 23, 2019 with Huakan International Mining Inc.
("Huakan") and Huakan's shareholders pursuant to which
Huakan granted to Rokmaster an option to acquire a 100% interest in
the Revel Ridge (formerly the J&L) Property (the "Revel
Ridge Project").
Revel Ridge Project - Updated Mineral Resource Estimate and
Technical Report
In connection with Rokmaster's submission to the TSX Venture
Exchange, an updated Mineral Resource Estimate for the Revel Ridge
Project was prepared (effective date: January 29, 2020) for the Main and Hanging Wall
Zones. Such zones are now estimated to contain 1,134,000
Measured and Indicated gold equivalent ounces ("AuEq"), with
1,012,000 Inferred gold equivalent ounces in the Main, Hanging Wall
and Footwall Zones. The Indicated Mineral Resource Estimate for the
separate Yellowjacket silver-zinc rich zone is now 771,000 tonnes
containing 9.93% zinc, 2.6% lead and 62.6 grams per tonne silver.
Please see the Table below:
REVEL RIDGE
2020 MINERAL RESOURCE ESTIMATE(1-7)
|
|
Class
|
Tonnes
(000's)
|
Au (g/t)
|
Au oz
(000's)
|
Ag (g/t)
|
Ag oz
(000's)
|
Pb (%)
|
Zn
(%)
|
AuEq
(g/t)
|
AuEq oz
(000's)
|
Main Zone
|
Measured
|
1,352
|
6.13
|
266
|
62.8
|
2,730
|
2.19
|
4.09
|
9.14
|
397
|
Indicated
|
2,848
|
5.33
|
488
|
49.0
|
4,487
|
1.72
|
3.11
|
7.56
|
692
|
Measured
& Indicated
|
4,200
|
5.59
|
755
|
53.4
|
7,216
|
1.87
|
3.43
|
8.07
|
1,089
|
Inferred
|
4,562
|
4.36
|
639
|
61.8
|
9,064
|
1.88
|
2.59
|
6.55
|
961
|
Hanging
Wall
Zone
|
Indicated
|
298
|
0.91
|
9
|
55.3
|
530
|
2.50
|
5.72
|
4.70
|
45
|
Inferred
|
38
|
0.22
|
0
|
75.0
|
92
|
3.08
|
5.44
|
4.34
|
5
|
Footwall
Zone
|
Inferred
|
342
|
3.91
|
43
|
25.3
|
277
|
0.53
|
0.48
|
4.20
|
46
|
Yellow-
jacket Zone
|
Indicated
|
771
|
0.09
|
2
|
62.6
|
1,552
|
2.60
|
9.93
|
NA
|
NA
|
Inferred
|
23
|
0.11
|
0
|
55.4
|
41
|
2.65
|
7.68
|
NA
|
NA
|
|
|
|
Note: k=
thousands, koz = thousands of ounces
|
|
|
1)
|
Mineral Resources
which are not Mineral Reserves do not have demonstrated economic
viability. The estimate of Mineral Resources may be materially
affected by environmental, permitting, legal, title, taxation,
socio-political, marketing, or other
relevant issues.
|
|
|
2)
|
The Inferred
Mineral Resource in this estimate has a lower level of confidence
than that applied to an Indicated Mineral Resource and must not be
converted to a Mineral Reserve. It is reasonably expected that the
majority of the Inferred Mineral Resource could be upgraded to an
Indicated Mineral Resource with
continued exploration.
|
|
|
3)
|
The Mineral
Resources in this estimate were calculated using the Canadian
Institute of Mining, Metallurgy and Petroleum ("CIM"), CIM
Standards on Mineral Resources and Reserves, Definitions and
Guidelines prepared by the CIM Standing Committee on Reserve
Definitions and adopted by CIM Council.
|
|
|
4)
|
The following
parameters were used to derive the NSR block model cut-off values
used to define the Mineral Resource:
|
|
- December 31, 2019 US$ two-year trailing
avg. metal prices: Pb $0.96/lb, Zn $1.24/lb,
Au $1,331.00/oz, Ag $15.95/oz
- Exchange rate of US$0.76 =
CDN$1.00
- Process recoveries of Pb 74%, Zn 75%, Au
91%, Ag 80%
- Smelter payables of Pb 95%, Zn 85%, Au
96%, Ag 91%
- Refining charges of Au US$10/oz, Ag
US$0.50/oz
- Concentrate freight charges of C$65/t and
Smelter treatment charge of US185/t
- Mass pull of 5% and 8% concentrate
moisture content
|
|
|
|
|
|
|
5)
|
NSR cut-off of CDN$110 per tonne was derived from $75/t mining, $25/t processing, $10/t G&A.
|
|
|
6)
|
AuEq= Au g/t + (Ag
g/t x 0.011) + (Pb % x 0.422) + (Zn % x 0.455). This
formula incorporates Ag, Pb and Zn metallurgical recoveries,
smelter payables and refining charges that were reflected in the
2012 Preliminary Economic Assessment
|
|
|
7)
|
Above parameters
derived from 2012 Preliminary Economic Assessment and other similar
benchmarked projects
|
For additional information, please refer to the technical report
titled: "Updated Technical Report on the Revel Ridge Property
(Formerly J&L Property), Revelstoke Mining Division,
British Columbia, Canada" dated
February 25, 2020 with an effective
date of January 29, 2020, which the
Company has concurrently filed on SEDAR.
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 Eugene
Puritch, P. Eng., FEC, CET, president of P&E Mining
Consultants Inc., who is independent of Rokmaster, supervised the
preparation of the information that forms the basis for the
technical information in this news release.
On behalf of the Board of Directors of
ROKMASTER
RESOURCES CORP.
"John Mirko"
John
Mirko, President & Chief Executive Officer
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) nor any other
regulatory authority accepts responsibility for the adequacy or
accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
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. Information inferred from the
interpretation of drilling results may also be deemed to be
forward-looking statements, as it constitutes a prediction of what
might be found to be present when and if a project is actually
developed. 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;; 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; risks
related to the Armex litigation; 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.