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Revel Ridge Results Demonstrate Significant Expansion Potential

·12 min read

TSXV: RKR
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VANCOUVER, BC, Nov. 10, 2020 /CNW/ - Rokmaster Resources Corp. ("Rokmaster" or the "Company") is pleased to provide an update on initial results from the first portion of its summer exploration program, Phase I underground diamond drilling & PEA, at its Revel Ridge polymetallic gold-silver project located 35 km's by road north of Revelstoke, British Columbia, Canada ("Revel Ridge" or the "Project").

With recent results from the revised and expanded geological and prospecting programs and the ongoing diamond drill program, Rokmaster feels it is well positioned to further expand both the RRMZ gold rich resource, the RRYZ silver rich resource and related gold-silver targets over 7 km's of prospective structure, e.g. the A&E Zone.

Surface Geological Mapping and Prospecting Results - Summer 2020 Program

Rokmaster reports it has imported the initial results of the 2020 reconnaissance scale geological mapping, prospecting program and integrated re-discovered archival soil geochemical data and surface drilling data into the revised geological database. Additional results are forthcoming. These data have been used to construct a revised structural and lithological model for the Revel Ridge Main Zone ("RRMZ") (Au-Ag-Zn-Pb) and the adjacent Revel Ridge Yellowjacket Zone ("RRYZ") (Ag-Zn-Pb) which clearly demonstrate the potential for significant expansion of both mineralized zones, see
Figure 1. Resource estimates for these have been previously released by Rokmaster but for reference are included here as Table 1. These data suggest:

  • The deformation zone that hosts the RRMZ gold mineralization has been traced with good continuity for a minimum of 1,700 m to the northwest of the RRMZ 830 level portal. 1,500 m of the strike length of this zone, traced to the northwest across McKinnon Creek, proximal to the existing resource, has not been drill tested.

  • Archival, 1991, **soil geochemical data indicate that much of northwestern strike length of the RRMZ has a definitive gold, silver, and lead geochemical signature over a strike length of approximately 700 m. Termination of this soil geochemical anomaly coincides with the boundaries of the 1991 soil grid. No drill testing has ever been undertaken in this area. The soil geochemical data may also outline the presence of a second gold mineralized zone forming in the hanging wall of the northwestern extension of the RRMZ.

  • Geological mapping and integration of archival **drill data onto this map, strongly indicates that the carbonate stratigraphy which hosts the silver rich Yellowjacket Zone continues for at least 1000 m to the northwest of the last three drillholes historically collared on this zone, DDH 97-01, 02 and 03. Two of the drillholes cored (by Weymin Mining Corporation) in 1997, 97-02 and 97-03 intersected significant Ag + Zn + Pb values. DDH 97-02 intersected 4.78 m (from 75.72 m to 80.50 m) of 63.06 g/t Ag, 14.92% Zn and 2.88% Pb, DDH 97-03 intersected 4.48 m (from 82.54 m to 87.02 m) of 52.71 g/t Ag,11.1% Zn and 2.43% Pb. All widths are drill indicated as the available data does not permit the calculation of true widths.

  • Results from the first phase of Rokmaster's 2020 reconnaissance rock sampling program also highlighted the exploration potential at the A&E trend, 5 km north, northwest of the RRMZ. The 2020 sampling program identified exposures of gold-silver-lead-zinc mineralization along a 1,700 m strike length on trend with A&E. Occurrences which form the A&E trend are hosted in interbedded limestone and argillaceous phyllite units stratigraphically located between the Hamill Group quartzites and Badshot Formation limestone. Massive sulphide mineralization containing arsenopyrite, pyrite, sphalerite and galena, including gold rich quartz-arsenopyrite veins are associated with contact zones between the phyllite and limestone. See Figure 2. The A&E Zone has three historic adits and numerous trenches. *The first adit was driven in 1929, with two more completed between 1962-1967. The A&E Zone is strongly gold enriched and has historically been traced along a 400 m strike length. Strike extensions of the mineralized trend to the northwest and southeast are largely obscured by glacial tills or talus boulder fields. Highlights of this sampling program are compiled on Table 2. The A&E Zone area has significant exploration potential and exhibits the similar continuity of sulphide mineralization and structural style to RRMZ mineralization.

Table 1 On February 25, 2020, Rokmaster filed a Technical Report on SEDAR entitled "Updated Technical Report on the Revel Ridge Property (formerly J&L Property), Revelstoke Mining Division, British Columbia, Canada" dated January 29, 2020, authored by Eugine Puritch, P.Eng, FEC, CET; Fred Brown, P.Geo.; Alfred Hayden, P.Eng.; Jarita Barry, P.Geo. And Richard Routledge, P.Geo., of P&E Mining Consultants Inc. Results are shown in 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 = thousand of ounces

1)

Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral resources can be materially affected by environmental permitting, legal, title, taxation, socio-political, marketing and 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, however there is no certainty an upgrade to the Inferred Mineral Resource will occur or what proportion would be upgraded to an Indicated Mineral Resource.

3)

The Mineral Resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum ("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 average metal prices of: Pb $0.96/lb, Zn $1.24/lb, Au $1,331.00/oz and Ag $15.95/oz,


Exchange rate of $US 0.76 = CDN$ 1.00


Process recoveries of Pb 74%, Zn 75%, Au 91% and Ag 80%


Smelter payables of Pb 95%, Zn 85%, Au 96% and Ag 91%


Refining charges of Au $US10/oz and Ag US$ 0.50/oz


Concentrate freight charges of $65/T and Smelter base treatment charge of US$185/T


Mass pull of 5%, 8% concentrate moisture content


Main Zone NSR = (Pb% x $21.16) + (Zn% x $22.01) + (Ag g/T x $0.52) + (Au g/T x $49.36) -$20.68


Yellowjacket Zone NSR = (Pb% x $19.58) + (Zn% x $22.93) + (Ag g/T x $0.48) + (Au g/T x $48.82) - $20.68

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 + (Ag g/t x 0.011) + (Pb % 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 (PEA).

7)

Above parameters derived from the 2012 PEA and other similar benchmarked projects.

***Table 2 (see Figure 2)

Sample ID

Gold g/t

Silver g/t

Zinc %

Lead %

Description

B836056

<0.05

3.8

1.21

0.61

2.0 m chip - dolomitic limestone with narrow sphalerite bands.

B836058

0.07

10.5

1.47

0.66

0.5 m chip - rusty argillite west of first contact.

B836059

<0.05

45.7

0.01

0.31

siliceous carbonates - grab of mineralized pods from 5x20 m outcrop exposure.

B836074

5.60

173

0.72

6.65

0.3 m chip from vein - A&E Adit #3, qtz-aspy vein at limestone contact.

B836075

0.67

7.8

1.28

0.08

composite grab across 1.5 m. A&E Adit 3 stringers in footwall phyllite.

B836102

6.57

311

9.53

7.02

composite grab from upper adit dump. Semi-massive pyrite, arsenopyrite. Sporadic copper oxides.

B836110

<0.05

4.6

0.02

0.11

1.0 m composite chip, sericitic phyllite plus quartz.

B836203

0.31

99

18.33

4.55

1.0 m chip in old working across zone. Phyllite with massive galena, pyrite and black sulfides.

B836207

0.05

8.9

0.00

0.03

massive fine grain sulfides – grab.

The reader is cautioned that grab samples are typically constrained to visibly mineralized areas and may not be representative of all mineralized rock.

*** All rock samples were dried, crushed to 70% passing 2 mm, then split 250 g, pulverized to 85% passing 75um at MSALABS (an Accredited Laboratory, ISO 9001:2015 Certified) in Langley, BC. A portion of the resulting pulps were then assayed by multi-element ICP-130 by 4-acid Ore Grade ICP-AES and FAS 111 fire assay. For quality control purposes two Granite Blanks and five Standard Blanks were inserted and sample No's B836116, B836210, B836103 and B836207 were duplicated. Sample rejects and leftover pulps will be securely stored at the project site.

Drilling

Diamond drilling is progressing around the clock and is currently coring the 11th hole in the 2020 program, DDH RR20-11. The first 11 drillholes collared underground have tested the RRMZ and the RRYZ along strike, in the up-dip and down dip directions.

Rokmaster currently has 286 drill core samples from the first 10 bore holes in for analysis and assay results will be released when received and compiled.

PEA

Completion of the PEA (Preliminary Economic Assessment) is currently waiting on final gold concentrate pricing feedback from our metallurgical consultants, concentrate brokers and advisors, prior to finalizing the economic parameters of the PEA.

Revel Ridge 2021 Work Program

Permitting of 58 diamond surface drill sites is in progress and will facilitate an early start to our 2021 surface diamond drilling program testing more than 7 km's of structural trend including several stacked parallel zones. At the same time, drilling may continue from underground drill stations on both the RRMZ and RRYZ zones.

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 Mark Rebagliati, P. Eng., FEC, who is independent of Rokmaster.

About Rokmaster

Rokmaster Resources Corp. is an emerging gold-silver and base metal developer with district scale assets in one of the world's most politically stable mining jurisdictions, British Columbia, Canada.

Rokmaster's primary assets, all located in British Columbia, consist of: The Revel Ridge polymetallic gold-silver Project, currently in the PEA and resource expansion phase; and the Duncan Lake Zinc-Lead Project and the Big Copper Project, which are both exploration projects.

On behalf of the Board of Directors,

"John Mirko"
John Mirko, President and Chief Executive Officer.

*(Weicker, Robert F. (1991): Report on 1991 Summer Exploration Program J&L Property, Revelstoke, British Columbia. EMPR Assessment Report #22004.)

**Data for the archival soil geochemical surveys was reported by Weicker, Robert F., Equinox Resources Ltd., Assessment Report, dated November, 1991 and the drill hole data cited as reported (internal company report) by Klatt, Harvey M. and Makepeace, David K., Weymin Mining Corporation, dated June, 1998 have not been independently verified by a Qualified Person, however it is believed to be reliable.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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: 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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