Twitter Facebook LinkedIn YouTube

RokMaster Resources (TSXV: RKR) Announced a Non-Brokered Private Placement

Video Platform Video Management Video Solutions Video Player

The company plans to raise up to $1 million through the offering of up to 20 million units priced at $0.05 per unit.

Additional Information:

Company: RokMaster Resources
Website: http://www.rokmaster.com
Stock Symbol: TSXV: RKR
Date Published: Jul 19, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Rokmaster Resources announced a non-brokered private placement.

The company plans to raise up to $1 million through the offering of up to 20 million units priced at $0.05 per unit.

Each unit consists of one share and one full warrant, with each warrant exercisable at $0.09 for a period of 24 months, subject to an acceleration clause.

The shares are currently trading at $0.05, and with 104 million shares outstanding, the company is capitalized at $5.2 million.

In January, the company completed its acquisition of a 100% interest in the Duncan Lake Zinc-Lead Property located in the Slocan Mining Division in southeast British Columbia, Canada approximately 64 kilometres north of Kaslo.

The property lies within the Kootenay Arc, from which more than 50 million tons of zinc-lead-silver ores have been mined from 10 past producing deposits.

The company’s mineral claims cover approximately 1,600 hectares along the strike extension of Teck Resources’ historical Duncan Mine property and 148 kilometres by road northeast of Teck’s smelter in Trail, British Columbia.

Cominco conducted four phases of exploration work on the property from 1989 to 1997 included coring of approximately 8,300 meters in 12 diamond drill holes.

The work encountered significantly higher grade zinc-lead mineralization than was typically encountered at the Duncan Mine and confirmed that altered and mineralized carbonate strata extends from the Duncan Mine northward more than 2.3 kilometres.

Although additional drilling was recommended for 1998, it was not conducted, possibly due to the steep decline in lead and zinc prices at the time, commencement of Red Dog production and the ongoing takeover of Cominco by Teck.

Rokmaster filed a Technical Report in December 2016, primarily based on information generated by Cominco, which is available on Sedar.

The company has received a Mines Act Permit, good until September 2019, from the British Columbia Ministry of Energy and Mines authorizing exploration activities including surface diamond drilling.

The new drill program includes plans to extend select drill holes on sections A to C directionally to intersect anticline crest areas of thicker mineralization.

New drill holes will test the strike to the north on sections D and E.

Funds raised from this private placement will be used to fund the drilling program and for general working capital.

The company is headed by John Mirko, President & CEO, who has more than 30 years of personal experience in the area.

John is familiar with local mine development and production, having been instrumental in permitting, constructing and operating the MAX Mine, only 60 kilometres away in Trout Lake.

For more information, please visit www.rokmaster.com, contact John Mirko at 604-632-9602 or email info@rokmaster.com. I’m Samantha Deutscher for Investmentpitch Media