A mill comprising crushing-sorting-grinding-gravity-flotation and a POX plant will produce gold-silver dore and zinc and lead concentrates, with annual production of 89,000 ounces of gold, 690,000oz of silver, 37.5 million pounds of zinc and 21.2Mlb of lead, or 124,000oz gold-equivalent for 12 years at an all-in sustaining cost of US$842/oz.

The project would yield an after-tax net present value of C$423 million at a 5% discount rate and a 29.5% internal rate of return based on metal prices of $1,561/oz gold, $20.55/oz silver, $1.07/lb zinc and $0.91/lb lead with a 2.6-year payback following a $396 million initial capital investment.

"After significant metallurgical, marketing and processing studies, this PEA demonstrates that Revel Ridge has a solid future ahead as a high-grade underground polymetallic gold-silver mine, utilising conventional mining and processing equipment to produce a combination of saleable concentrates and gold-silver dore," said Rokmaster Resources chair Michael Cowin.

"By selling zinc and lead-silver concentrates to reliable Canadian and offshore smelters and utilising low risk onsite processing facilities, we are able to keep initial capital costs low and cut marketing risk both short and long term."

The main zone at Revel Ridge hosts a measured and indicated resource of 4.2 million tonnes grading 8.07g/t gold-equivalent for 1.1Moz, and an inferred resource of 4.6Mt grading 6.55g/t for 961,000oz.

Shares in Rokmaster Resources are trading at C32c, valuing the company at $23 million.