VANCOUVER, Sept. 28, 2017 /CNW/ - Rokmaster Resources Corp. ("Rokmaster" or the "Company") is pleased to announce that it has acquired by way of a Property Purchase Agreement (the "Acquisition"), a 100% interest in 11 mineral claims (the "Property") totaling 620 hectares south of and adjacent to, its Duncan Lake Zinc Project. The Property forms part of the Company's Duncan South Area which now covers over 12km of important southerly extensions of both limbs of the Duncan Anticline, where it comes to surface. Documented historical mineral occurrences located on the Property include the No. 1, No. 2, No. 3 and VIN Zones. A persistent zone of zinc-lead mineralization up to 3m thick, 30m high and exposed for 90m along strike in an old adit is reported to average 6.36% zinc and 2.46% lead across 1.13m width over the entire length of the zone.* Prospecting for silver and gold enriched silicified zones in the hanging wall of the zinc-lead zone has commenced along a 5km portion of the trend north of the No. 1 Zone.
Terms of the Acquisition include a share payment of 450,000 shares of the Company's stock and a 2.5% Net Smelter Return Royalty ("NSR") in favor of the arms-length seller. The NSR is subject to a buy-back provision providing the Company with the exclusive option, at any time if it so chooses, to purchase 1% NSR upon payment of $500,000 and the remaining balance of 1.5% NSR upon payment of an additional $500,000. The Acquisition is subject to the approval of the TSX Venture Exchange.
The Company is also pleased to announce it will be exhibiting from November 8 to 9, 2017 at the Minerals South Convention to be held at the Heritage Inn Convention Centre located in Cranbrook, B.C., Canada. Immediately after the convention, Rokmaster will be hosting a tour of its Duncan Lake Zinc Project on November 10, 2017. Parties interested in participating shall meet at the Cooper Creek Gas Station at 1:00 PM where transportation of those without a 4X4 vehicle will be provided. Please RSVP your attendance before October 31, 2017 by email to firstname.lastname@example.org or by phone at (604) 632-9602.
*(Duncan No.1. MINFILE No. 082K SE019, "Berens River Mines Annual Report, 1952")
R.A. (Bob) Lane, M. Sc., P. Geo., a consulting geologist, is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mining Projects and has reviewed and approved of the technical disclosure in this news release.
On behalf of the Board of Directors of
ROKMASTER RESOURCES CORP.
John Mirko, President & Chief Executive Officer
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) nor any other regulatory authority accepts responsibility for the adequacy or accuracy of this release.
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.
These press releases may also interest you