Rokmaster ups gold estimate at Revel Ridge, B.C.

Rokmaster ups gold estimate at Revel Ridge, B.C.
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VANCOUVER – Rokmaster Resources Corp. [RKR-TSXV, RKMSF, OTCQB, IRRI-FSE] on Wednesday announced a significant increase in mineral resources at the Revel Ridge polymetallic project in southeastern British Columbia.

The company said the measured and indicated resource in all mineralized zones includes 1.36 million gold equivalent (AuEq) ounces contained within 6.73 million tonnes with an average grade of 6.27 g/t AuEq. On top of that is an inferred resource in all mineralized zones, including 1.22 million AuEq ounces contained within 6.00 million tonnes at an average grade of 6.33 g/t AuEq.

“Our updated mineral resource estimate is another milestone in establishing a potential commercial mining operation at Revel Ridge,’’ said Rokmaster CEO John Mirko. “Rokmaster has added significant gold ounces in every classification, and the system remains open,” he said.

On November 30, 2021, Rokmaster shares closed at 39 cents and currently trade in a 52-week range of 76 cents and 28 cents.

Revel Ridge is located 35 kilometres northeast of Revelstoke and ranks as one of British Columbia’s largest precious metal and polymetallic deposits.

Results of a preliminary economic assessment (PEA) released in December, 2020 demonstrate that Revel Ridge has the potential to become a long life, low-cost, robust polymetallic gold-silver mine with strong project economics with a base case price of US$1,561 an ounce gold. Preproduction capital expenditures are forecast to be $396 million.

The PEA forsees life of mine average annual production of 124,000 ounces of gold equivalent (AuEq) (89,000 ounces of gold, 690,000 ounces of silver 37.5 million pounds of zinc and 21.2 million pounds of lead) over a production lifespan of 12 years.

Those estimates are based on resources in two main areas, including the Main (gold rich) Zone (RRMZ) and the Yellowjacket (RRYZ) zone.

“Over the past 18 months Rokmaster has completed 27,255 metres of core drilling in 79 surface and underground drill holes at Revel Ridge,” said Rokmaster Chairman Michael Cowin. “That effort has resulted in significant organic growth of the mineral deposit, exemplified by the revised AuEq values documented in the measured, indicated and inferred 2021 mineral resource estimate,” Cowin said.

“We’re seeing that we can expand the Revel Ridge mineral resource by increasing the number of drill holes which test it,’’ he said. “In the upcoming months, we intend to further develop our innovative surface and underground exploration programs to strategically expand the mineral resource.’’

The RRMZ was previously estimated to contain a measured and indicated resource of 1.1 million ounces of AuEq at a grade of 8.07 g/t AuEq, and an inferred resource of 961,000 ounces of AuEq gading 6.55 AuEq (excluding Hanging Wall and Footwall Zone resources).

The separate RRYZ was previously estimated to contain an indicated resource of 771,000 tonnes of grade 9.93% zinc, 2.61% lead, 0.09 g/t gold and 62.8 g/t silver.

 

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