Rokmaster Resources (TSXV: RKR; OTC: RKMSF) has updated the resource estimate for its Revel Ridge polymetallic deposit 35 km northeast of Revelstoke, B.C.
The measured and indicated resources contain 1.4 million oz. of gold-equivalent in 6.7 million tonnes averaging 6.27 g/t gold-equivalent. Grades are 3.69 g/t gold, 50 g/t silver, 1.93% lead, and 3.68% zinc. Contained precious metals are 800,000 oz. gold and 4 million oz. silver.
The inferred resource is 6 million tonnes grading 4.7 g/t gold (906,000 contained oz.), 37 g/t silver (7.1 million contained oz.), plus1.19% lead and 2.2% zinc.
The database on which the new estimate is based includes data from 68,693 metres of surface and underground drilling. The database also has information on 223 underground chip samples. Both drill hole and chip sample data have been composited over 1-metre intervals. The mineralized system remains open.
Rokmaster produced a preliminary economic assessment for Revel Ridge earlier this year. The after-tax net present value with a 5% discount was estimated to be $423 million and the internal rate of return at 29.5%. Average annual production would be 89,000 oz. of gold, 690,000 oz. of silver, 37.5 million lb. zinc and 21.2 million lb. of lead. The life of mine all-in sustaining costs net of by-products would be US$560/oz. of gold produced.
A project presentation is posted on www.Rokmaster.com.