OTC Pink: RKMSF
VANCOUVER, Nov. 14, 2018 /CNW/ - Rokmaster Resources Corp. (the "Company") is pleased to announce that results have been tabulated and interpreted from a recently completed geochemical soil sample survey, taken over a 4.5km long section of the Duncan anticline.
A total of 188 soil samples were obtained from the property in July 2018. The sampling program was designed to further test favorable target horizons for silver-lead-zinc mineralization within the Duncan Anticline. Sampling was conducted along contour lines and along short grid lines that cross the favorable geology for a distance of 3.1km.
Soil samples were sent to MS Analytical Labs, an ISOMEK accredited laboratory with ISO 9001 certification, located in Langley, BC. The samples were analyzed for 39 elements by the lab's Ultra-Trace level IMS-117 method with ICP-MS analysis.
Soil sampling returned significant elevated results for silver, lead, and zinc. These results roughly define a trend of elevated metal values in soil within the southern and northern extents of sampling. In particular, contour sampling that was completed to the south returned high lead and zinc values over a sampling distance of 1.3km, with values typically in the 1000 to 5000 parts per million (ppm) range, and including values over 10,000 ppm for lead and zinc (the laboratory upper limit for those elements).
To the north, seven grid lines of approximately 300 metres length were sampled. Elevated lead and zinc values were returned from two or more adjacent soil samples on six of these lines, indicating a zone width of approximately 75 to 150 metres over the 700 metres of sampled length.
Silver values returned from soil sampling were mostly in the order of 0.01 to 1 ppm, with several samples returning higher values up to 2.21 ppm associated with the higher lead and zinc values.
The soil sampling further outlines mineralized zones that were previously documented by workers of the property. In particular, the southern contour line extends across mineralized zones No.1 and No.2, whereas the northern grid sampling extends across mineralized zone No.3.
The results of the 2018 soil sampling program are highly encouraging and continue to produce targets for further work.
Maps of the soil sample survey and rock sampling, with assay and geochemical results plotted, will soon be posted on the Company website.
An excavator trenching and channel sampling program is being planned and permitted for the target anomalies.
Non-Brokered Private Placement
The Company announces that it intends to complete a non-brokered private placement (the "Private Placement") for proceeds of up to $900,000 through the issuance of 9,000,000 units at a price of $0.10 per unit (the "Units'). Each unit is comprised of one common share of the Company and one-half (1/2) non-transferable common share purchase warrant. Each whole Warrant will entitle the holder to purchase one additional share (a "Warrant Share") of the Company for a period of 18 months from the date of closing of the Private Placement at a price of $0.18 per Warrant Share. The Warrants will be subject to an accelerated expiry date, which comes into effect when the trading price of the Company's common shares close at or above $0.30 per share during any 10 consecutive trading day period on the TSX Venture Exchange commencing four months plus one day after the date of issuance. In such an event, the Company will give an expiry acceleration notice (the "Notice") to the Warrant holders and the expiry date of the Warrants will be 30 days from the date of Notice.
The Private Placement and any finder's fees paid in connection with the Private Placement are subject to TSX Venture Exchange approval. Furthermore and should the Private Placement be oversubscribed, the Company reserves the right to accept additional funds, subject to regulatory approval.
The Company may complete a portion of the Private Placement pursuant to the conditions described in Multilateral CSA Notice 45-318 - Prospectus Exemption for Certain Distributions through an Investment Dealer ("CSA 45-318") and the corresponding instruments, orders and rules implementing CSA 45-318 in the participating jurisdictions (collectively with CSA 45-318, the "Investment Dealer Exemption"). In addition to conducting the Financing pursuant to the Investment Dealer Exemption, the Company will also accept subscriptions for units where other prospectus exemptions are available, including from accredited investors. In accordance with the Investment Dealer Exemption, the Company advises that, as at the date hereof, there is no material fact or material change in respect of the Company that has not been generally disclosed. The Company further advises that there is no minimum number of units being offered pursuant to the Private Placement.
Marketing and Communications
The Company is pleased to announce it has retained Billington Publications Inc. ("Billington") to provide communications and grow market awareness aimed at building the profile of Rokmaster among existing and potential shareholders. Billington will also arrange and disseminate independent research articles, with each article being reviewed and approved by the Company. The Company will maintain editorial control to ensure published material is consistent between articles and the Company's public disclosure filings on SEDAR. Billington is an arm's length consulting service provider to the Company for an indefinite term and will be paid a contract fee of $10,000.00 per month, on a month to month basis. To the knowledge of the Company, Billington does not own any of the Company's securities.
About Rokmaster Resources Corp.
Rokmaster is a Vancouver-based mineral exploration company with 100% ownership of the Duncan Lake zinc-lead-silver Project in the prospective Kootenay Region of British Columbia, Canada. For additional information on the Company and its properties, please visit the Company's website to review maps, photos and other information, www.rokmaster.com or call (604) 632-9602.
The technical information contained in this news release was reviewed and approved by Perry Grunenberg, BSc., P. Geo., a consultant to the Company and a qualified person for the purposes of National Instrument 43-101.
On behalf of the Board of Directors of
ROKMASTER RESOURCES CORP.
President & Chief Executive Officer
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. Information inferred from the interpretation of drilling results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. 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.
For further information: John Mirko, 604-632-9602