How complete of a rebuild..?? Just re-ringed, or sleeve & piston set? If just re-ringed, they may not be seated/sealed yet, still causing blow by. The only other things I can think of would be, #1. A valve not completely seating, due to a burned valve, or weak valve spring, and compression coming up passed the worn valve guides. That in turn would pressurize the crankcase, via the valve cover/oil return ports. #2 The head is warped, or deflected away from the top of the sleeve enough, the head gasket isn't sealing on the oil return side.
Have you looked in the radiator to see if bubbles appear there..?? Just be careful to watch for after boil if you haven't..!! That much compression loss I'm thinking should show up in the coolant system too, if there are problems with the head, and/or head gasket itself.
If no bubbles in the radiator, believe I'd pull the valve cover, and listen for a compressed air leakage. It'd probably blow some oil on top also. Just don't put your hand over top, use a stick of some sort, and keep your hands away. With near a 18:1 compression ratio, you're dealing with some serious pressure.
If nothing shows on top, I'd guess rings not seated/sealing for some reason.