VANCOUVER, BC, April 12,
2023 /CNW/ - Rokmaster Resources Corp. (TSXV:
RKR) (OTCQB: RKMSF) (FSE: 1RR1) ("Rokmaster" or "the Company") is
pleased to announce that engineering work by Ausenco Services Pty
Ltd. to update the preliminary economic assessment ("PEA") on the
Revel Ridge Project ("Revel Ridge" or "the Project") is advancing
well and that the PEA will also incorporate an updated mineral
resource estimate ("MRE") on the Project.
The Company is also pleased to announce that the 2023 drill
program on Revel Ridge will commence shortly, and will include
multiple drill targets designed to return to areas where the
successful 2022 exploration program defined enhanced mineralization
in the Revel Ridge Main Zone ("RRMZ").
Southeastern Extension
To explore for additional resources using wide step-outs,
Rokmaster will drill to test the area between the down-dip
extension of the 2022 channel sampling and the Zinc Creek Showing
in the 2023 drill program (Figure 1).
Northwestern Extension
A new zone of strong RRMZ (developed on a favourable contact)
was discovered in 2022 after targeting deeper portions of the RRMZ
below drillholes completed earlier in 2021. The new zone is
highlighted by drillholes RR22-102a and RR22-101 in Figure 1.
Drilling is planned to further test this area in the 2023 drill
program.
Depth Extension
The recognition that the RRMZ is fundamentally a unique orogenic
gold system that has significant potential at depth has allowed
Rokmaster to complete broad-spaced drilling to consistently
intersect the RRMZ during previous drill programs. Coarse visible
gold mineralization was discovered in some of the deeper drillholes
completed by Rokmaster, which has important metallurgical and
geological implications (see press release dated June 7, 2021). Drill targets will investigate
deeper regions of the deposit where favourable structural,
lithological, and particulate gold features are indicated.
John Mirko, President and CEO,
comments, "The team soundly advanced the Revel Ridge Project
in 2022 by continuing the strategy of rapid resource expansion. We
aim to maintain this approach with the 2023 drill program set to
begin soon and following on the success of past programs.
The deposit remains open in all directions and Rokmaster will
continue pushing the envelope of the mineralized volume of the RRMZ
with the potential to discover exciting new zones of Yellowjacket
or coarse gold mineralization.
We are looking forward to the results of the updates to the MRE
and the PEA and will release the results as soon as available."
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.
About Rokmaster
Rokmaster's flagship Revel Ridge Project 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 NI 43-101 Mineral Resource Estimate1 on the
Revel Ridge Property, dated January 17,
2022. The 2023 drill program is designed to efficiently
expand the volume of the Revel Ridge Main Zone as defined by the
updated Mineral Resource Estimate, which currently remains open in
all directions:
- Measured & Indicated (M&I): 1.36 million gold
equivalent ("AuEq") Measured & Indicated (M&I) 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.
Footnote 1.
(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.)
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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 vents or results or otherwise.
SOURCE Rokmaster Resources Corp.