Mr. John Mirko reports
ROKMASTER SIGNS DEFINITIVE AGREEMENT ON THE HANSON PROPERTY
Further to its news release on March 31, 2024, Rokmaster Resources Corp. has signed a definitive agreement for the option to acquire 100 per cent of the Hanson property, which adds to the Nechako project.
The Nechako project now totals 27,178 hectares (271 square kilometres) across three properties located in western-central British Columbia. The Nechako region is an underexplored portion of the productive Stikine terrane, which hosts many past-producing deposits and advanced development projects.
The Hanson property is accessed from extensive logging roads in the 2018 Shovel Lake fire area approximately 20 kilometres north of the past-producing Endako molybdenum mine. The property is situated near a major structural intersection with potential for three distinct periods of mineralizing events: late Jurassic porphyry molybdenum, late Cretaceous porphyry copper/molybdenum and early Eocene porphyry copper/gold. The Hanson property has been subject to multiple exploration programs since 1965. Significant soil molybdenum/copper anomalies at the Buckley and Wilson zones were generated in 1973 by Endako Mines. Shallow drilling of these anomalies, less than 155 metres in each drill hole, was delayed until 1977 to 1978. Since then, rock samples with up 1.37 per cent molybdenum, 1.79 per cent copper and 0.10 gram per tonne gold were collected from the Wilson zone in 2015 and a 2012 airborne magnetic and ZTEM (Z-tipper electromagnetic) survey imaged geophysical anomalies coincident with the older geochemical anomalies with very little follow-up work.
In the northern portion of the Hanson property, a series of trenches, pits and drill holes defined the Cyr zone in 1988 to 1990, with samples returning elevated concentrations of silver, gold, lead and zinc over broad intervals. Mineralization at the Cyr zone is described to be related to a silicified quartz feldspar porphyry unit hosting pervasive disseminated pyrite. Notably, the historical drilling at the Cyr zone did not penetrate deeper than 152.5 metres. Two mineral claims totalling 75.5 hectares covering the western Cyr zone were recently acquired 100 per cent royalty-free. A historical series of shallow drill holes occur in the Cyr zone and on the newly acquired claims.
Fieldwork on the Nechako project has commenced and will be continuing throughout 2025. An exploration permit application has been applied for the Hanson property and the company anticipates approval within the coming year.
John Mirko, president and chief executive officer, commented:
"The Hanson property is a great addition to the Nechako project, where Rokmaster is assembling a strong property position in a region with important historical and operating mines. Similar to the Mystery and Fox-Coconut properties, the Hanson property has great geological potential and holds a wealth of positive historical exploration data to build upon to develop robust targets. Fieldwork has begun on the Nechako project and will continue throughout 2025 to efficiently prepare compelling exploration drilling targets for significant copper/molybdenum/gold/silver mineralization in this favourable district."
Terms of the agreement:
To earn a 100-per-cent interest in the property, the company must complete the following:
- Make an aggregate cash option payment of $210,000 as follows:
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$15,000 upon signing of the agreement;
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$25,000 on or before April 1, 2026;
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$30,000 on or before April 1, 2027;
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$60,000 on or before April 1, 2028;
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$80,000 on or before April 1, 2029;
- Issue an aggregate of 3.6 million Rokmaster shares as follows:
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500,000 shares within 30 days of signing or receipt of regulatory approval;
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500,000 shares on or before April 1, 2026;
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600,000 shares on or before April 1, 2027;
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One million shares or before April 1, 2028;
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One million shares on or before April 1, 2029.
Upon commencement of commercial production on the Hanson property, it will be subject to a 1.5-per-cent net smelter return royalty and one-half of which (0.75 per cent) can be purchased by Rokmaster for $750,000.
Closing of the Hanson property transaction is subject to receipt of all requisite regulatory approvals.
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, PGeo, who is independent of Rokmaster and who acts as Rokmaster's qualified person.
We seek Safe Harbor.
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