Rokmaster Resources CEO Jon Mirko joined INN at PDAC to discuss his company’s two BC projects: Revel Ridge gold and Duncan Lake zinc.
Rokmaster Resources CEO John Mirko Update on Duncan Lake and Revel Ridge Projects in BCwww.youtube.com
Rokmaster Resources (TSXV:RKR,OTC Pink:RKMSF,FWB:1RR) CEO John Mirko joined the Investing News Network at the 2020 Prospectors & Developers Association of Canada conference to discuss his company’s two BC projects, the Revel Ridge gold project and the Duncan Lake zinc project.
Mirko has over 30 years of experience working in the Kootenays, where both the Duncan Lake and Revel Ridge projects are located. His familiarity with the projects dates back to 1982, when he first examined Duncan Lake when looking for silver and gold adjacent to the historic Cominco workings.
Rokmaster optioned the Revel Ridge property in 2019 from a private Chinese company that had not done exploration work on the property since 2012. “They hadn’t spent any money on it since then and they still owned it. They spent about $30 million on it and decided not to move forward. They were hoping somebody would take it off their hands,” said Mirko.
Previous metallurgical issues had held back the economic viability of the project; however, as the price of gold dipped down in 2012, the previous owner committed to running one final drill program, which nearly doubled the gold equivalent ounces on the property.
According to Mirko, the drill results in 2012 provided the potential for new mine economics. “They had a great geological team, they found another million ounces. Instead of under a million, it was over 2 million ounces on the property. Now the metallurgical issues are not an issue anymore. If you want some fancy equipment to go and recover it you can spend $100 million, but you could never spread that cost over only 500,000 ounces. Which was what previous operators had been trying to do for years.”
Moving forward, Mirko and his team intend to leverage recent financings to continue to fund exploration of the Revel Ridge property. The company recently closed $700,000 worth of financing and intends to put that towards establishing a new preliminary economic assessment (PEA) on the Revel Ridge property.
“We’re going to do an update on an existing PEA from 2012 when it was 1 million ounces. Now we will go to 2 million ounces in this PEA without drilling one more hole,” said Mirko. “After the PEA is in our hands, we intend to raise C$5 million at $0.25 to C$0.35 and then we plan to go drilling. We’re going to keep adding to that resource because that’s going to drive everything — the design of the mine, how much money we can spend on the plant and whether we chase offshore smelters or not.”
As Rokmaster’s projects move closer to production, the company intends to work with local communities to ensure all stakeholders are consulted with. “We need to be real. This is the modern age. You don’t do stuff on the back of an envelope anymore,” said Mirko. “You’ve got to make sure that you’re not going to cause any pollution, you’re not going to have a safety issue and you’re not going to have an issue with the local communities, aboriginal or otherwise. It’s important that the local people know what you’re doing. You don’t want to have somebody misunderstand what you’re trying to accomplish there.”
For a more comprehensive update from Rokmaster CEO John Mirko, watch the video above.
This interview is sponsored by Rokmaster Resources (TSXV:RKR,OTC Pink:RKMSF,FWB:1RR). This interview provides information that was sourced by the Investing News Network (INN) and approved by Rokmaster Resources in order to help investors learn more about the company. Rokmaster Resources is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
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This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.