Rokmaster Provides 2021 Summary and 2022 Outlook
Rokmaster Provides 2021 Summary and 2022
Outlook
VANCOUVER, BC
,
Feb. 28, 2022
/CNW/ - 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 2021
. 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.
Metallurgical Advancements
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.
Resource Expansion
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
).
Corporate Milestones
Over the past year, Rokmaster has raised over
$14 Million
, has further strengthened its professional
team by adding industry veterans Mark 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.
i.
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.
ii.
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.
Qualified Persons
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.
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 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.
SOURCE
Rokmaster Resources Corp.
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For further information:
Please contact Mr. John Mirko, CEO of Rokmaster Resources,
[email protected], 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 protected], Ph. +1 (604)
319-3171On Behalf of the Board of Directors of Rokmaster Resources Corp.
CO: Rokmaster Resources Corp.
CNW 05:00e 28-FEB-22