Rokmaster Resources Corp. has acquired by way of a Property Purchase Agreement (the Acquisition), a 100% interest in 11 mineral claims (the Property) totalling 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 12 km 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 mineralisation up to 3 m thick, 30 m high and exposed for 90 m along strike in an old adit is reported to average 6.36% zinc and 2.46% lead across 1.13 m 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 5 km 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 favour 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 CAN$500 000 and the remaining balance of 1.5% NSR upon payment of an additional CAN$500 000. The acquisition is subject to the approval of the TSX Venture Exchange.
The company will also 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 10 November, 2017.
Read the article online at: https://www.globalminingreview.com/mining/02102017/rokmaster-acquires-multiple-zinc-lead-silver-properties/