Rokmaster Resources (TSXV: RKR; OTCQB: RKMSF) and Kootenay Resources (TSXV: KTRI) have signed a deal to give Rokmaster the option to acquire Kootenay’s Nechako copper-gold project in central British Columbia.
As part of the deal, Rokmaster will incur $142,000 in exploration work on the Mystery and Coconut-Fox properties by Sept. 18, 2024. It will also issue Kootenay 2 million shares over four years, beginning on the first anniversary day of the agreement.
Rokmaster will also complete 10,000 metres of diamond drilling on any or all of the properties prior to the fourth anniversary date of the agreement, which would give it up to a 60% stake in Nechako.
Once Rokmaster secures the initial 60% interest, Kootenay would grant Rokmaster an exclusive option to acquire the remaining 40% stake, by issuing 5 million Rokmaster common shares to Kootenay within 60 days of acquiring the initial 60% stake.
Upon acquiring 100% of the Nechako project, Rokmaster will grant Kootenay a 1.5% net smelter returns royalty to the Mystery and Coconut group of mining claims.
The Nechako copper-gold project comprises the Fox-Coconut and Mystery properties. The Fox-Coconut property contains volcanic rocks in the west with fractured and silicified rhyolite volcanics which host quartz veins and breccias. The Mystery property contains calc-alkalic porphyry copper-molybdenum mineralization.
To learn more about the Nechako project, visit www.KootenayResources.com.
