Rokmaster Announces Plan to Spin Out Copper and Zinc Projects
ROKMASTER ANNOUNCES PLAN TO SPIN
OUT COPPER AND ZINC PROJECTS
VANCOUVER, BC
,
Jan. 26, 2022
/CNW/ -
Rokmaster Resources Corp. (TSXV: RKR) (OTCQB:
RKMSF) (FSE: 1RR1)
("Rokmaster"
or the
"Company")
is pleased to announce that its Board of
Directors has unanimously approved in principle the transfer of its interests in the Big Copper and
Duncan Lake Zinc Projects (the "
Exploration Properties
") located in
British Columbia, Canada
to
4Metals Exploration Ltd. ("
4Metals
" or "
SpinCo
"), a wholly owned subsidiary of Rokmaster,
followed by a pro rata distribution of the common shares of SpinCo (the "
SpinCo Shares
") to the
shareholders of Rokmaster (the "
Spinout
").
Upon the completion of the Spinout, Rokmaster shareholders will own shares in: (i) 4Metals, which
will focus on: (a) the Big Copper Project, a high-grade copper-silver occurrence hosted in mid-
Proterozoic rocks in which Rokmaster holds a 55% interest; and (b) the 100%-owned Duncan Lake
Zinc Project, which is a series of carbonate hosted zinc-lead-silver deposits located near Duncan
Lake in southern British Columbia; and (ii) Rokmaster, which will continue to advance the Revel
Ridge Polymetallic Gold Project, also in
British Columbia
.
John Mirko
, Rokmaster's President and CEO stated, "Further to our news releases of
November 24,
2021
on the Big Copper Project and
December 20, 2021
on the Duncan Lake Zinc Project, we
believe that the Spinout will unlock and increase shareholder value by allowing the capital markets to
attribute value to these two exploration properties independently of the Revel Ridge Project. The
Spinout will also provide Rokmaster shareholders the opportunity to realize the growth and potential
associated with the recent resurgence in copper, zinc and silver prices and the significant increase in
investment in exploration projects similar to those hosted by such exploration properties."
The Spinout will be subject to shareholder, court, TSX Venture Exchange and other regulatory
approvals, as applicable. Shareholders are cautioned that there can be no assurances that the
Spinout will be completed as described in this news release or at all.
About the Big Copper Property
Rokmaster holds a 55% interest in the Big Copper Property in the
Creston
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 km along strike and is exposed in a series of adits
and trenches over approximately 400 to
500 m
of vertical relief. Big Copper likely belongs to a class
of stratabound replacement copper-silver deposits hosted within mid – Proterozoic quartzitic
sedimentary rocks. The Company believes that the style and stratigraphic setting of mineralization at
Big Copper may be analogous to similar stratabound silver-copper deposits in
NW Montana
, such as
the Troy Mine and
Hecla's
Montanore Mine.
About the Duncan Lake Zinc Property
The Duncan Lake Zinc Property is a series of carbonate hosted silver-lead-zinc deposits located
near Duncan Lake in southern
British Columbia
. The Duncan Lake deposits are hosted within a
Cambrian age Badshot Limestone which also hosts Ag-Pb-Zn mineralization at Teck's recently
producing Pend D'Oreille mine, as well as past producers including the Blue Bell Mine, Reeves
MacDonald, Jersey-Emerald and HB mines. Mineralization at Duncan Lake forms in the crest and
limbs of the regional scale Duncan Lake Anticline, where strong lead-zinc +/- 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 >10% Pb+Zn. Historical background and a geological
synthesis of the Duncan Lake deposit is provided in a technical report prepared by R.A. (
Bob) Lane
and titled "
Technical Report on the Duncan Lake Zinc-Lead Project, Slocan Mining Division,
Southeast British Columbia, Canada
"
dated
July 20
, 2018.
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.
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.
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: (a) the ability to
successfully spinout the Exploration Properties; (b) Rokmaster shareholders realizing value of the
Exploration Properties through direct ownership in 4Metals; (c) receipt of the requisite shareholder,
court, regulatory, and stock exchange approval, and successful completion of the Spinout; and
(d) the following additional factors: 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.
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For further information:
For more information, please contact Mr. John Mirko, CEO of Rokmaster
Resources, [email protected], Ph. 1-604-290-4647 or the Company's website:
www.rokmaster.com; For shareholder information please contact: Mike Kordysz,
[email protected], Ph. +1 (604) 319-3171
CO: Rokmaster Resources Corp.
CNW 06:00e 26-JAN-22