Jul 15 2014
Rokmaster Resources Corp. ("Rokmaster" or the "Company")is pleased to announce the discovery of significant new potential of a gold-copper skarn pebble dyke system at the Pinaya Project in Southern Peru. Rokmaster's team of geologists recently completed an assessment and evaluation of historical drill core, trench data, geophysical (IP) data and surface mapping of the known mineralized systems at Pinaya.
A series of steeply dipping gold-copper skarn pebble dykes are believed to cross-cut the Cu-Au porphyry zones and can be traced northwesterly on-strike for over three kilometres. Historical drill hole intercepts of the gold-copper skarn oxide system yielded values of 4.14 g/t Au, 0.26% Cu over 31.0m and 4.9 g/t Au, 0.29% Cu over 25.0m. Rokmaster believes that the same structure exposed at surface at the main gold-oxide skarn pit (open slot-cut) was intersected in historic drill hole PDH-159 (691.5-756.0m) which yielded 0.98 g/t Au with 0.10% Cu over 64.5 metres. Structurally, this is approximately 700m down dip and 450m NNW along strike from the main pit. Mineralization appears to be controlled by high-angle faults that may have truncated the system at depth below the main pit; and it is believed that the 20-30 mere wide structure may continue to the north-northwest. The Company's geologists located further pebble dyke Au-Cu skarn mineralization exposed approximately three kilometres to the north of the main resource area. In addition, the compilation of the geophysical and geochemical data suggests the potential deep-seated parallel northwest trending gold system may lie immediately east of the known mineralized trends. Chargeability-IP anomalies begin to gain intensity at 100-150 metres below surface. The chargeability IP anomaly is also coincident with anomalous gold values from surface trenches. The area of known mineralization and potential new zones covers an area of 1.0 x 4.0 kilometres.
Continued exploration is recommended on these newly discovered trends as well as exploration for the extension of the Western Porphyry Cu-Au Zone. Further diamond drilling is recommended as well as trenching for Pinaya. Preparation of drill hole platforms will be completed shortly as the Company commences with its 3,000 metre diamond drill hole program.
CORPORATE UPDATE
- On June 27, 2014, the Company held both the 2013 and 2014 Annual General Meetings and reports that the shareholders voted in favour to set the number of directors to seven and elected the seven directors nominated by management, to appoint DeVisser Gray LLP as auditors, to authorize the Company's board of directors to fix the auditor's remuneration for the ensuing year, and to pass an ordinary resolution approving the Company's 10% rolling stock option plan.
- The Company also announces that it has granted 250,000 stock options with an exercise price of $0.13 expiring on July 14, 2019 to its manager of corporate development in Peru.
This news release and its technical content has been reviewed and approved by Antonio M. de Quadros Ph.D., P. Eng., a Qualified Person as defined under National Instrument 43-101, and a consulting geologist, and Director of Rokmaster Resources Corp.
On behalf of the Board of Directors of
ROKMASTER RESOURCES CORP.
John Mirko, President & Chief Executive Officer.
Source: http://www.rokmaster.com/