Rokmaster Resources (RKR.V): Announces Plan To Spin Out Copper And Zinc Projects
VANCOUVER, BC, Jan. 26, 2022 /CNW/ – Rokmaster Resources Corp. (TSXV: RKR) (OTCQB: RKMSF) (FSE: 1RR1) (“Rokmaster” or the “Company”) is pleased to announce that its Board of Directors has unanimously approved in principle the transfer of its interests in the Big Copper and Duncan Lake Zinc Projects (the “Exploration Properties“) located in British Columbia, Canada to 4Metals Exploration Ltd. (“4Metals” or “SpinCo“), a wholly owned subsidiary of Rokmaster, followed by a pro rata distribution of the common shares of SpinCo (the “SpinCo Shares“) to the shareholders of Rokmaster (the “Spinout“).
Upon the completion of the Spinout, Rokmaster shareholders will own shares in: (i) 4Metals, which will focus on: (a) the Big Copper Project, a high-grade copper-silver occurrence hosted in mid-Proterozoic rocks in which Rokmaster holds a 55% interest; and (b) the 100%-owned Duncan Lake Zinc Project, which is a series of carbonate hosted zinc-lead-silver deposits located near Duncan Lake in southern British Columbia; and (ii) Rokmaster, which will continue to advance the Revel Ridge Polymetallic Gold Project, also in British Columbia.
John Mirko, Rokmaster’s President and CEO stated, “Further to our news releases of November 24, 2021 on the Big Copper Project and December 20, 2021 on the Duncan Lake Zinc Project, we believe that the Spinout will unlock and increase shareholder value by allowing the capital markets to attribute value to these two exploration properties independently of the Revel Ridge Project. The Spinout will also provide Rokmaster shareholders the opportunity to realize the growth and potential associated with the recent resurgence in copper, zinc and silver prices and the significant increase in investment in exploration projects similar to those hosted by such exploration properties.”
The Spinout will be subject to shareholder, court, TSX Venture Exchange and other regulatory approvals, as applicable. Shareholders are cautioned that there can be no assurances that the Spinout will be completed as described in this news release or at all.
About the Big Copper Property
Rokmaster holds a 55% interest in the Big Copper Property in the Creston area of Southern British Columbia. Big Copper is a high-grade copper-silver occurrence hosted in mid-Proterozoic rocks. Copper-silver mineralization has been traced for 4 km along strike and is exposed in a series of adits and trenches over approximately 400 to 500 m of vertical relief. Big Copper likely belongs to a class of stratabound replacement copper-silver deposits hosted within mid – Proterozoic quartzitic sedimentary rocks. The Company believes that the style and stratigraphic setting of mineralization at Big Copper may be analogous to similar stratabound silver-copper deposits in NW Montana, such as the Troy Mine and Hecla’s Montanore Mine.
About the Duncan Lake Zinc Property
The Duncan Lake Zinc Property is a series of carbonate hosted silver-lead-zinc deposits located near Duncan Lake in southern British Columbia. The Duncan Lake deposits are hosted within a Cambrian age Badshot Limestone which also hosts Ag-Pb-Zn mineralization at Teck’s recently producing Pend D’Oreille mine, as well as past producers including the Blue Bell Mine, Reeves MacDonald, Jersey-Emerald and HB mines. Mineralization at Duncan Lake forms in the crest and limbs of the regional scale Duncan Lake Anticline, where strong lead-zinc +/- silver mineralization has been traced by surface and underground drilling for approximately 2,500 m. At Duncan Lake, Rokmaster will be targeting > 30 Mt of >10% Pb+Zn. Historical background and a geological synthesis of the Duncan Lake deposit is provided in a technical report prepared by R.A. (Bob) Lane and titled “Technical Report on the Duncan Lake Zinc-Lead Project, Slocan Mining Division, Southeast British Columbia, Canada” dated July 20, 2018.
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.
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: (a) the ability to successfully spinout the Exploration Properties; (b) Rokmaster shareholders realizing value of the Exploration Properties through direct ownership in 4Metals; (c) receipt of the requisite shareholder, court, regulatory, and stock exchange approval, and successful completion of the Spinout; and (d) the following additional factors: 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.
