Rover Metals Announces Infill and Delineation of the New Andrew Zone at Cabin Gold, NT, Canada
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4XO) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, Canada. The focus of the Phase 2 Exploration Program was to discover and delineate new gold mineralized zones along the Bugow Iron Formation, the controlling structure for gold at the Cabin Gold Project. The Company is pleased to announce that its exploration program has been able to confirm and expand the historic gold grades at the Andrew South, Andrew Middle, and Andrew North Targets. The expansion includes an increase to the historical average gold grades reported across all of these historic targets. Rover has grouped the north, middle and south bounds of Andrew into a new single Andrew Zone, which extends 800 meters from south to north at surface. The map of the Bugow Iron Formation on the Company’s website has been updated to show the location of the new Andrew Zone. The south end of the Andrew Zone is situated roughly 500 meters northeast of the Beaver Zone. The Beaver Zone was featured in the Company’s December 7, 2021, release. The Company has now reported on the discovery of three medium-to-high grade mineralized gold zones at Cabin: the Arrow, Beaver, and Andrew Zones, all open at depth, and along strike.
Andrew Zone Expansion
Andrew South
The Company is reporting multiple near-surface medium-to-high grade gold at the newly defined Andrew Zone which extends 800 meters from south to north along the Bugow Iron Formation. Highlights of Phase 2 drilling at Andrew South include: new drill hole CL-21-21 which reported 2.9m of 5.09 g/t Au (from 70.65m to 76.8m), including 2.2m of 6.42 g/t Au and deeper in hole CL-21-21, reporting 4.7m of 3.38 g/t Au (from 88.80m to 94.00m). As of the date of this release, the Company has sent in additional samples for assaying from hole CL-21-21, as the gold mineralization is recognized to extend past the sulfide intervals of the drill core, which is a first for the project. The new assays, once received, will be part of a future updating release, and could extend the reported high-grade gold intervals at the southern part of Andrew. Additional highlights at Andrew include: new hole CL-21-24 which reported 3.9m of 2.91 g/t Au (from 51.00m to 55.12m); new hole CL-21-19 which reported 3.1m of 2.57 g/t Au (from 62.2m to 65.3m) and deeper in hole CL-21-19 reporting 1m of 2.06 g/t Au (from 93.3m to 94.3m); new hole CL-21-20 which reported 0.4m of 6.11 g/t Au (from 90.8m to 91.2m); and new hole CL-21-25 which reported 2.3m of 2.61 g/t Au (from 68.0m to 70.5m). As noted below, in the drill result tables, there are multiple well mineralized drill intercepts at the south part of the Andrew Zone that are reported in additional new holes (see CL-21-22, CL-21-22, CL-21-23 in the tables below). As of the date of this release, the Company has also sent additional samples from hole CL-21-25 to the lab for assaying.
Andrew North
Highlights from drilling at the northern part of the Andrew Zone include new hole CL-21-27 which reported 4.3m of 4.14 g/t Au (from 17.8m to 22.8m); new hole CL-21-29 which reported 3.0m of 3.2 g/t Au (from 37.6m to 40.8m) and multiple additional medium-to-high grade gold intercepts at deeper depth from this same hole, as reported in the drill result tables below. As of the date of this release, the Company has sent additional samples to the lab from hole CL-21-29. Additional highlights include new hole CL-21-28 which reported 3.2m of 1.19 g/t Au (from 38.8m to 42.8m).
The results, both confirm and expand upon, 1980s historical drilling at Andrew, and have returned higher grades than historical results. The historical drill holes and new holes from Andrew South and Andrew North can be referenced in the drill plan views below. A table of significant Andrew Zone drill assay results, greater than 0.5 g/t Au, listed by hole and interval, can be found near the end of this release. For purposes of the calculations of the highlighted intervals in this release, Rover considers results above 0.50 g/t Au to be of significance.
Drill Plan View – Andrew Zone (South)
CL-21-19/20 Cross Sections
CL-21-21/22 Cross Sections
CL-21-23/24/25 Cross Sections
Drill Plan View – Andrew Zone (North)
CL-21-26 Cross Section
CL-21-27/28 Cross Sections
CL-21-29 Cross Section
The Company’s working hypothesis is that the near surface Andrew Zone extends 800 meters, from south to north. There was significant drilling along the middle of the Andrew Zone in the 1940s. Unfortunately, none of the historical drill records have survived. The Company tested its hypothesis during its Phase 2 Exploration Program, by drilling two drill holes in the centre of the Andrew Zone. As of the date of this release, the Company has sent additional samples from both hole CL-21-30 and CL-21-31 to the lab for assaying as the gold mineralization is recognized to extend past the sulphide intervals in the drill core. The results from Andrew middle will form part of an updating release.
Judson Culter, CEO at Rover Metals, states “We are very pleased to have made the discovery of a third significant zone at the Cabin Gold project. In total, there is over 1,000 meters of surface strike length, that is open along strike (Beaver) and at depth (Arrow, Beaver and Andrew), across all defined zones on the project (Arrow, Beaver and Andrew). We expect the 2022 Phase 3 Exploration Program at the Cabin Gold project to focus on the highest grade gold areas of these zones.”
Tables of Significant Drill Results
Hole | Easting | Northing | Elev | Total Depth | Dip | Azimuth | Zone |
CL-21-19 | 559,189.00 | 7,006,213.00 | 181.7 | 100 | -45 | 230 | Andrew South |
CL-21-20 | 559,189.00 | 7,006,213.00 | 181.7 | 152 | -60 | 230 | Andrew South |
CL-21-21 | 559,189.00 | 7,006,213.00 | 181.7 | 130 | -45 | 190 | Andrew South |
CL-21-22 | 559,170.00 | 7,006,165.00 | 181.7 | 104 | -45 | 190 | Andrew South |
CL-21-23 | 559,170.00 | 7,006,165.00 | 181.7 | 53 | -45 | 230 | Andrew South |
CL-21-24 | 559,170.00 | 7,006,165.00 | 181.7 | 59 | -65 | 230 | Andrew South |
CL-21-25 | 559,202.00 | 7,006,198.00 | 181.5 | 101 | -45 | 220 | Andrew South |
CL-21-26 | 558,606.00 | 7,006,655.00 | 188.8 | 47 | -45 | 85 | Andrew North |
CL-21-29 | 558,606.00 | 7,006,655.00 | 188.8 | 50 | -50 | 10 | Andrew North |
CL-21-27 | 558,606.00 | 7,006,655.00 | 188.8 | 34 | -45 | 55 | Andrew North |
CL-21-28 | 558,606.00 | 7,006,655.00 | 188.8 | 47 | -60 | 55 | Andrew North |
CL-21-30 | 558,999.00 | 7,006,228.00 | 185.5 | 47 | -45 | 220 | Andrew Middle |
CL-21-31 | 558,999.00 | 7,006,228.00 | 185.5 | 26 | -45 | 260 | Andrew Middle |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-19 | V748041 | 62.20 | 62.76 | 0.56 | 6.24 | Andrew South |
CL-21-19 | V748042 | 62.76 | 63.00 | 0.24 | 1.1 | Andrew South |
CL-21-19 | V748043 | 63.00 | 63.29 | 0.29 | 0.88 | Andrew South |
CL-21-19 | V748044 | 63.29 | 63.59 | 0.3 | 1.96 | Andrew South |
CL-21-19 | V748045 | 63.59 | 64.00 | 0.41 | 4.19 | Andrew South |
CL-21-19 | V748046 | 64.00 | 64.35 | 0.35 | 2.73 | Andrew South |
CL-21-19 | V748047 | 64.35 | 64.68 | 0.33 | 0.37 | Andrew South |
CL-21-19 | V748048 | 64.68 | 64.98 | 0.3 | 0.94 | Andrew South |
CL-21-19 | V748049 | 64.98 | 65.32 | 0.34 | 1.02 | Andrew South |
CL-21-19 | V748058 | 93.32 | 93.64 | 0.32 | 0.71 | Andrew South |
CL-21-19 | V748059 | 93.64 | 94.00 | 0.36 | 3.67 | Andrew South |
CL-21-19 | V748060 | 94.00 | 94.3 | 0.30 | 1.56 | Andrew South |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-20 | V748067 | 90.86 | 91.26 | 0.4 | 6.11 | Andrew South |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-21 | V748071 | 70.65 | 70.98 | 0.33 | 0.76 | Andrew South |
CL-21-21 | V748072 | 70.98 | 71.3 | 0.32 | 0.35 | Andrew South |
CL-21-21 | V748073 | 71.3 | 71.61 | 0.31 | 6.98 | Andrew South |
CL-21-21 | V748074 | 71.61 | 72.03 | 0.42 | 3.89 | Andrew South |
CL-21-21 | V748075 | 75.31 | 75.61 | 0.30 | 17.6 | Andrew South |
CL-21-21 | V748076 | 75.61 | 76.00 | 0.39 | 10.4 | Andrew South |
CL-21-21 | V748077 | 76.00 | 76.42 | 0.42 | 2.23 | Andrew South |
CL-21-21 | V748078 | 76.42 | 76.8 | 0.38 | 0.48 | Andrew South |
CL-21-21 | V748087 | 92.23 | 92.93 | 0.70 | 2.78 | Andrew South |
CL-21-21 | V748088 | 92.93 | 93.33 | 0.40 | 1.77 | Andrew South |
CL-21-21 | V748089 | 93.33 | 94.00 | 0.67 | 2.67 | Andrew South |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-22 | V748090 | 42.4 | 42.88 | 0.48 | 0.84 | Andrew South |
CL-21-22 | V748091 | 42.88 | 43.18 | 0.3 | 0.39 | Andrew South |
CL-21-22 | V748092 | 43.18 | 43.61 | 0.43 | 1.16 | Andrew South |
CL-21-22 | V748093 | 43.61 | 44.10 | 0.49 | 1.43 | Andrew South |
CL-21-22 | V748094 | 44.10 | 44.40 | 0.30 | 0.95 | Andrew South |
CL-21-22 | V748095 | 44.40 | 44.67 | 0.27 | 1.8 | Andrew South |
CL-21-22 | V748096 | 44.67 | 45.01 | 0.34 | 0.57 | Andrew South |
CL-21-22 | V748097 | 45.01 | 45.36 | 0.35 | 1.94 | Andrew South |
CL-21-22 | V748098 | 45.36 | 45.71 | 0.35 | 0.43 | Andrew South |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-23 | V748117 | 41.98 | 42.44 | 0.46 | 0.89 | Andrew South |
CL-21-23 | V748118 | 42.44 | 42.75 | 0.31 | 0.52 | Andrew South |
CL-21-23 | V748119 | 42.75 | 43.15 | 0.40 | 0.80 | Andrew South |
CL-21-23 | V748120 | 43.15 | 43.90 | 0.75 | 1.05 | Andrew South |
CL-21-23 | V748121 | 43.90 | 44.30 | 0.40 | 1.88 | Andrew South |
CL-21-23 | V748123 | 44.30 | 44.62 | 0.32 | 0.52 | Andrew South |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-24 | V748102 | 51.00 | 51.50 | 0.50 | 2.77 | Andrew South |
CL-21-24 | V748103 | 51.50 | 52.01 | 0.51 | 0.15 | Andrew South |
CL-21-24 | V748104 | 52.01 | 52.76 | 0.75 | 1.57 | Andrew South |
CL-21-24 | V748105 | 52.76 | 53.10 | 0.34 | 3.63 | Andrew South |
CL-21-24 | V748106 | 53.10 | 53.41 | 0.31 | 5.16 | Andrew South |
CL-21-24 | V748107 | 53.41 | 53.80 | 0.39 | 1.79 | Andrew South |
CL-21-24 | V748108 | 53.80 | 54.20 | 0.40 | 3.57 | Andrew South |
CL-21-24 | V748109 | 54.45 | 54.77 | 0.32 | 6.11 | Andrew South |
CL-21-24 | V748110 | 54.77 | 55.12 | 0.35 | 4.93 | Andrew South |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-25 | V748125 | 53.00 | 53.45 | 0.45 | 1.64 | Andrew South |
CL-21-25 | V748126 | 63.95 | 64.25 | 0.30 | 0.73 | Andrew South |
CL-21-25 | V748127 | 65.42 | 65.88 | 0.46 | 1.72 | Andrew South |
CL-21-25 | V748128 | 65.88 | 66.18 | 0.30 | 0.22 | Andrew South |
CL-21-25 | V748129 | 66.18 | 66.58 | 0.40 | 2.16 | Andrew South |
CL-21-25 | V748130 | 67.09 | 67.39 | 0.30 | 4.01 | Andrew South |
CL-21-25 | V748131 | 67.39 | 67.76 | 0.37 | 0.41 | Andrew South |
CL-21-25 | V748132 | 68 | 68.35 | 0.35 | 0.50 | Andrew South |
CL-21-25 | V748133 | 68.35 | 68.68 | 0.33 | 0.64 | Andrew South |
CL-21-25 | V748134 | 68.68 | 68.98 | 0.30 | 1.59 | Andrew South |
CL-21-25 | V748135 | 68.98 | 69.68 | 0.70 | 4.27 | Andrew South |
CL-21-25 | V748136 | 69.82 | 70.12 | 0.30 | 1.07 | Andrew South |
CL-21-25 | V748137 | 70.12 | 70.46 | 0.34 | 5.55 | Andrew South |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-26 | V748185 | 28.0 | 28.8 | 0.80 | 1.85 | Andrew North |
CL-21-26 | V748186 | 28.8 | 29.47 | 0.67 | 0.52 | Andrew North |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-27 | V748139 | 17.83 | 18.20 | 0.37 | 0.57 | Andrew North |
CL-21-27 | V748140 | 18.2 | 18.52 | 0.32 | 6.32 | Andrew North |
CL-21-27 | V748141 | 18.52 | 18.83 | 0.31 | 2.44 | Andrew North |
CL-21-27 | V748142 | 18.83 | 19.11 | 0.28 | 9.2 | Andrew North |
CL-21-27 | V748143 | 19.11 | 19.47 | 0.36 | 4.1 | Andrew North |
CL-21-27 | V748144 | 19.47 | 19.79 | 0.32 | 1.64 | Andrew North |
CL-21-27 | V748145 | 20.00 | 20.33 | 0.33 | 1.06 | Andrew North |
CL-21-27 | V748146 | 20.33 | 20.75 | 0.42 | 14.65 | Andrew North |
CL-21-27 | V748147 | 20.75 | 21.03 | 0.28 | 1.81 | Andrew North |
CL-21-27 | V748148 | 21.25 | 21.61 | 0.36 | 0.78 | Andrew North |
CL-21-27 | V748149 | 21.92 | 22.40 | 0.48 | 3.48 | Andrew North |
CL-21-27 | V748150 | 22.40 | 22.84 | 0.44 | 2.64 | Andrew North |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-28 | V748176 | 38.81 | 39.25 | 0.44 | 0.93 | Andrew North |
CL-21-28 | V748177 | 39.25 | 39.82 | 0.57 | 0.27 | Andrew North |
CL-21-28 | V748178 | 40.60 | 41.00 | 0.40 | 2.97 | Andrew North |
CL-21-28 | V748179 | 41.00 | 41.59 | 0.59 | 1.05 | Andrew North |
CL-21-28 | V748180 | 41.59 | 41.97 | 0.38 | 0.31 | Andrew North |
CL-21-28 | V748181 | 41.97 | 42.36 | 0.39 | 2.63 | Andrew North |
CL-21-28 | V748182 | 42.36 | 42.79 | 0.43 | 0.71 | Andrew North |
Hole | Sample ID | From | To | Interval | Au g/t | Zone |
CL-21-29 | V748153 | 37.60 | 38.00 | 0.40 | 2.72 | Andrew North |
CL-21-29 | V748154 | 38.00 | 38.40 | 0.40 | 4.75 | Andrew North |
CL-21-29 | V748155 | 38.4 | 38.70 | 0.30 | 1.18 | Andrew North |
CL-21-29 | V748156 | 38.70 | 39.10 | 0.40 | 4.83 | Andrew North |
CL-21-29 | V748158 | 39.37 | 39.71 | 0.34 | 1.31 | Andrew North |
CL-21-29 | V748159 | 39.71 | 40.09 | 0.38 | 5.61 | Andrew North |
CL-21-29 | V748160 | 40.09 | 40.39 | 0.30 | 4.43 | Andrew North |
CL-21-29 | V748161 | 40.39 | 40.82 | 0.43 | 0.60 | Andrew North |
CL-21-29 | V748162 | 41.70 | 42.01 | 0.31 | 1.48 | Andrew North |
CL-21-29 | V748165 | 42.97 | 43.37 | 0.40 | 0.92 | Andrew North |
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.
Stock Option Grant to Advisor
The Company has made a stock option grant of 350,000 stock options to Robert Schafer, an advisor to the Company. The stock options have an exercise price of $0.06, vest monthly over 12 months, and have a four-year useful life. Mr. Schafer has nearly 40 years of experience in the mineral industry, working in the international sector with both major and junior mining companies. He is founder and Managing Director of Eagle Mines Management, a globally active private natural resources corporation. He has held executive and senior management positions with Hunter Dickinson Inc., Kinross Gold Corp., and BHP Minerals over the past 20 years. Throughout his career Mr. Schafer has worked internationally, with notable experience in the far east of Russia, Southern Africa, South America and Australia.
About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in the summer of 2021, and the analysis and reporting of the Phase 2 Exploration work at Cabin Gold continues through to the date of this release.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetalsLinkedIn: https://www.linkedin.com/company/rover-metals/Facebook: https://www.facebook.com/RoverMetals/for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor corporate videos.
Website:https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617
- Published in Mining, News Home, Rover Metals
Rover Metals Announces $100,000 Government Exploration Grant for Cabin Gold Project, NT, Canada
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) is pleased to announce that it has received a $100,000 exploration grant for its Cabin Gold Project, NT, Canada from the Government of the Northwest Territories’ Mining Incentive Program (“MIP”). MIP received additional 2021 funding from the Canadian Northern Economic Development Agency (CanNor) under its mandate to ensure that mineral resource exploration and development continues to flourish in the north.
About the Cabin Gold Project
In September 2020, Rover kicked-off its first exploration drilling program at the historic Cabin Gold Project. The exploration program included both confirmation and expansion drilling of historical high grade gold drill intercepts in the “Arrow Zone” area of the historic Bugow Iron Formation. The Bugow Iron Formation is the controlling structure for the gold mineralization on the property and is over 15 km in length. On November 24, 2020, the Company reported an intersection of 32 meters of continuous gold averaging 13.6 grams per ton Au from the Arrow Zone. Rover’s 2020 expansion drilling included the discovery of what it believes to be a primary gold bearing ore shoot at the Arrow Zone. The Arrow Zone remains open at depth, underneath Cabin Lake, and is only accessible for expansion drilling in the winter months. Rover’s 2020 drill program was the initial step towards confirming and expanding the historic 100,000 tons at 0.30 Oz/ton Au* historic resource estimate, reported for the Arrow Zone, towards a NI 43-101 compliant mineral resource estimate. The Arrow Zone will see expansion drilling commencing in Q1-2022.
In July 2021, Rover commenced a Phase 2 Exploration Program at the Cabin Gold Project. The goal of the Phase 2 Exploration Program was the discovery and definition of new, near surface, gold bearing zones along the Bugow Iron Formation. As released on December 6, 2021, the Company has delineated a second medium-to-high grade zone at the Beaver Zone, highlights which included 6.4 meters of 4.63 g/t Au (from 42.6m to 49.0m), including 2.6 meters of 7.80 g/t Au. The Beaver Zone will see expansion drilling commencing in Q1-2022.
(*) As per Section 2.4 of NI 43-101, Aber Resources Ltd. reported a mineral inventory (that does not compare to the current CIM Definitions Standards mineral resource categories) of 100,000 tons at 0.30 ounces per ton gold at the Cabin Lake Gold Zone on the north limb of the folded Bugow Iron Formation in their 1986 and 1987 annual reports. The parameters used for the resource calculation are unknown. These results are relevant as to delineate a larger zone of gold mineralization at the Cabin Lake Gold Zone, but further drilling is needed to bring the mineral inventory up to CIM Definition Standards. The reader is cautioned that a Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources and Rover Metals is not treating the historical estimates as current mineral resources.
Judson Culter, CEO at Rover Metals, states “adding $100,000 to our working capital sets us up for success in Q1-2022 as we focus on expansion drilling at the highest-grade gold zones on the Cabin Gold Project. Receiving tailwinds like these from government really make us feel excited about the future of this project.”
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.
About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in the summer of 2021, and Phase 2 Exploration work continues at Cabin Gold through to the date of this release.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetalsLinkedIn: https://www.linkedin.com/company/rover-metals/Facebook: https://www.facebook.com/RoverMetals/ for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber for corporate videos.
Website:https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617
- Published in Mining, News Home, Rover Metals
Rover Metals Announces Infill and Delineation of the Historic Beaver Zone, at Cabin Gold, NT, Canada
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, Canada. The focus of the Phase 2 Exploration Program was to discover and delineate new gold zones along the Bugow Iron Formation, the controlling structure for gold at the Cabin Gold Project. The Company is pleased to announce that it has been able to achieve expansion of the economic gold grades at the historic Beaver Zone. The Beaver Zone is situated roughly 400 meters northwest of the Arrow Zone, which was the focus of the Company’s exploration efforts in 2020. In November 2020, the Arrow Zone was delineated as a near surface, 120-meter high-grade ore shoot, open at depth. The Beaver Zone, currently defined as approximately 90 meters in near surface length, is showing potential to extend south-east into the high-grade Arrow Zone, as well as being open to the northwest, and at depth.
Beaver Zone Expansion
The Company is reporting multiple near-surface intercepts of economic gold grades at the Beaver Zone. Highlights of Phase 2 drilling include: new drill hole CL-21-10 which reported 6.4 meters of 4.63 g/t Au (from 42.6m to 49.0m), including 2.6 meters of 7.80 g/t Au; new drill hole CL-21-15 which reported 5.8 meters of 2.13 g/t Au (from 50.0m to 55.8m); new drill hole CL-21-39 which reported 4.6 meters of 2.21 g/t Au (from 11.0m to 15.6m); and new drill hole CL-21-40 which reported 4.5 meters of 0.84 g/t Au (from 13.8m to 18.3m). The results, both confirm and expand upon, historical drilling at Beaver in the 1980s, and have returned higher grades than historical results. The historical drill holes and new holes can be referenced in the drill plan for the Beaver Zone below. A table of significant Beaver Zone drill results greater than 0.5 g/t Au listed by hole and interval can be found at the bottom of this release.
CL-21-10/11 Cross Sections
CL-21-13/14 Cross Sections
CL-21-15 Cross Section
CL-21-16 Cross Section
CL-21-39/40 Cross Sections
The Company’s working hypothesis is that there is a conceptual ore shoot at Beaver trending, and dipping to the northwest in a similar fashion and direction as the Arrow Zone, which lies 400 meters to the southeast of Beaver. The Company commenced an IP ground survey on November 28th, 2021, across the Beaver and Arrow Zones to assist in 3D modelling of the gold mineralization for the delineation of the Phase 3 drill targets for Q1-2022.
Map of Beaver Zone and Arrow Zone IP Survey Lines
Judson Culter, CEO at Rover Metals, states: “We are very pleased to have the workings of a new medium-to-high grade ore shoot at Beaver. The goal of the Phase 2 Program at Cabin was to open-up the 15 km of near surface iron formation at the project, and to delineate additional zones for a deeper Phase 3 drill program in Q1-2022. We believe that in addition to our success in the Beaver Zone we are poised for significant expansion of gold mineralization at the historic Andrew Zone as well. Based on the initial sampling results received from the Andrew Zone, we have sent more samples to the lab as we believe the mineralized intervals are longer than what initially sampled in the field at the start of the program. A map of the Bugow Iron Formation, showing the current understanding and interpretation of the delineated zones as well as new 2021 IP anomaly discoveries can be found below.”
Map of the Bugow Iron Formation
Tables of Significant Drill Results
Hole ID | Easting83z11 | Northing83z11 | Elevation (m) | Total Depth | Dip | Azimuth |
CL-21-10 | 559060 | 7005770 | 176 | 74 | -45 | 230 |
CL-21-11 | 559061 | 7005770 | 176 | 146 | -65 | 230 |
CL-21-12 | 559062 | 7005769 | 176 | 93.75 | -55 | 195 |
CL-21-13 | 559020 | 7005800 | 175 | 62 | -45 | 230 |
CL-21-14 | 559020 | 7005800 | 175 | 95 | -65 | 230 |
CL-21-15 | 559020 | 7005800 | 175 | 83 | -45 | 190 |
CL-21-16 | 559020 | 7005800 | 175 | 80 | -45 | 260 |
CL-21-39 | 559067 | 7005755 | 177 | 53 | -45 | 230 |
CL-21-40 | 559067 | 7005755 | 177 | 77 | -55 | 250 |
Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
CL-21-10 | V749212 | 42.6 | 43.1 | 0.5 | 1.17 |
CL-21-10 | V749213 | 43.1 | 43.6 | 0.5 | 1.62 |
CL-21-10 | V749214 | 43.6 | 44.1 | 0.5 | 0.95 |
CL-21-10 | V749215 | 44.1 | 44.6 | 0.5 | 2.88 |
CL-21-10 | V749216 | 44.6 | 45.1 | 0.5 | 7.32 |
CL-21-10 | V749218 | 45.1 | 45.6 | 0.5 | 6.51 |
CL-21-10 | V749219 | 45.6 | 45.9 | 0.3 | 22.40 |
CL-21-10 | V749217 | 45.9 | 46.4 | 0.5 | 5.40 |
CL-21-10 | V749221 | 46.4 | 46.7 | 0.3 | 8.33 |
CL-21-10 | V749222 | 46.7 | 47.2 | 0.5 | 1.43 |
CL-21-10 | V749223 | 47.2 | 47.7 | 0.5 | 0.42 |
CL-21-10 | V749224 | 47.7 | 48.2 | 0.5 | 1.45 |
CL-21-10 | V749225 | 48.2 | 49.0 | 0.8 | 7.30 |
Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
CL-21-13 | V749421 | 41.57 | 41.97 | 0.40 | 0.51 |
CL-21-13 | V749422 | 41.97 | 42.38 | 0.41 | 0.20 |
CL-21-13 | V749423 | 42.38 | 42.75 | 0.37 | 3.39 |
CL-21-13 | V749424 | 42.75 | 43.09 | 0.34 | 0.31 |
CL-21-13 | V749425 | 43.09 | 43.59 | 0.50 | 0.04 |
CL-21-13 | V749426 | 43.59 | 44.00 | 0.41 | 1.78 |
CL-21-13 | V749427 | 44.00 | 44.53 | 0.53 | 0.76 |
Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
CL-21-14 | V749467 | 70.70 | 71.00 | 0.30 | 0.62 |
CL-21-14 | V749468 | 71.00 | 71.43 | 0.43 | 0.51 |
CL-21-14 | V749469 | 71.43 | 71.81 | 0.38 | 1.52 |
CL-21-14 | V749470 | 71.81 | 72.16 | 0.35 | 0.41 |
CL-21-14 | V749471 | 72.16 | 72.56 | 0.40 | 1.59 |
CL-21-14 | V749472 | 72.56 | 72.9 | 0.34 | 5.48 |
Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
CL-21-15 | V749507 | 50.00 | 50.50 | 0.50 | 0.70 |
CL-21-15 | V749508 | 50.50 | 51.03 | 0.53 | 1.10 |
CL-21-15 | V749509 | 51.03 | 51.48 | 0.45 | 0.41 |
CL-21-15 | V749510 | 51.48 | 52.16 | 0.68 | 0.39 |
CL-21-15 | V749511 | 52.16 | 52.87 | 0.71 | 5.05 |
CL-21-15 | V749512 | 52.87 | 53.23 | 0.36 | 9.64 |
CL-21-15 | V749513 | 53.23 | 53.63 | 0.40 | 4.29 |
CL-21-15 | V749514 | 53.63 | 53.97 | 0.34 | 1.54 |
CL-21-15 | V749515 | 53.97 | 54.29 | 0.32 | 0.45 |
CL-21-15 | V749516 | 54.29 | 54.62 | 0.33 | 2.79 |
CL-21-15 | V749517 | 54.62 | 55.36 | 0.74 | 0.21 |
CL-21-15 | V749518 | 55.36 | 55.75 | 0.39 | 0.83 |
Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
CL-21-39 | V748418 | 11.00 | 11.90 | 0.90 | 1.39 |
CL-21-39 | V748419 | 11.90 | 12.20 | 0.30 | 0.96 |
CL-21-39 | V748420 | 12.20 | 12.94 | 0.74 | 0.61 |
CL-21-39 | V748421 | 12.94 | 13.36 | 0.42 | 1.13 |
CL-21-39 | V748422 | 13.36 | 14.00 | 0.64 | 7.96 |
CL-21-39 | V748423 | 14.00 | 14.52 | 0.52 | 2.72 |
CL-21-39 | V748424 | 14.52 | 15.00 | 0.48 | 1.60 |
CL-21-39 | V748425 | 15.00 | 15.62 | 0.62 | 0.74 |
Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
CL-21-40 | V748392 | 43.53 | 43.83 | 0.30 | 4.09 |
CL-21-40 | V748393 | 43.83 | 44.29 | 0.46 | 3.17 |
CL-21-40 | V748394 | 44.29 | 44.57 | 0.28 | 1.71 |
CL-21-40 | V748395 | 44.57 | 45.10 | 0.53 | 1.03 |
CL-21-40 | V748396 | 45.10 | 45.47 | 0.37 | 1.43 |
CL-21-40 | V748397 | 45.47 | 45.93 | 0.46 | 2.99 |
CL-21-40 | V748398 | 45.93 | 46.60 | 0.67 | 0.25 |
CL-21-40 | V748399 | 46.60 | 47.15 | 0.55 | 0.69 |
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.
About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in the summer of 2021, and Phase 2 Exploration work continues at Cabin Gold through to the date of this release.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetalsLinkedIn: https://www.linkedin.com/company/rover-metals/Facebook: https://www.facebook.com/RoverMetals/for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor corporate videos.
Website:https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements be prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65eb889b-c20a-41f7-a720-8d6868e69274
- Published in Mining, News Home, Rover Metals
Rover Metals Announces Phase 2 Exploration Drilling Now Complete at Up Town Gold Project, NWT, Canada
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) is pleased to announce that Phase 2 Exploration Drilling is now complete at the Up Town Gold project, NWT, Canada (60th parallel). The Company optioned a 75% interest (“Option Agreement”) in the project to Arctic Fox Minerals Corp. (“Arctic Fox”) (formerly Melius Capital Corp). Arctic Fox is seeking a public listing of its shares on the Canadian Securities Exchange (the “CSE”).
Up Town Gold Project
The Up Town Gold project is located on the outskirts of city limits of the city of Yellowknife. The Up Town Gold project is an Archean lode-gold prospect adjoining the historic 7.2 million ounces1 (0.564 ounces per tonne Au or 16 g/t Au) Giant Mine gold deposit in Yellowknife, Northwest Territories and Gold Terra Resources’ (TSXV: YGT) Yellowknife City Gold Project. The 3,227 hectare property hosts ten high-grade gold occurrences. Most work to date has been conducted at the Rod Zone and Fox South Zone. The Rod Zone was drilled to a shallow depth in the 1960’s and mined on a small scale in 1979 by previous owners. Recent historic surface sampling at the Rod Vein returned grab samples up to 318 g/t Au and channel samples up to 1.20 m @ 17.27 g/t Au2. Drilling by Rover in 2017 at the Rod Zone returned significant gold intersections in all of three holes drilled with best results of 5.4 m @ 4.28 g/t Au including 0.9 m @ 22.10 g/t Au (Rover Metals Press Release dated October 4, 2017). At the Fox South Zone, a different style of wide, disseminated, shear zone hosted mineralization returned historic surface samples up to 30.3 g/t Au. Rover drilled the Fox South Zone in 2017 with best results of 7.1 m @ 0.62 g/t Au including 0.3 m @ 5.12 g/t Au.
1. | Silke, R. 2009. The Operational History of Mines in the Northwest Territories, Canada. Tables 3,4,5,and 6 from pages 266, 269, and 270. |
2. | The Up Town Gold property contains eight principal showings documented in the NWT mineral showing database (NORMIN). |
Phase 2 Exploration Drill Program
Artic Fox returned to the Fox South Zone, drilling multiple holes collared along the existing defined strike of the shear zone (that was the focus of the drilling completed in Q3-2017 by Rover). Successful results from these holes would increase the Fox South Zone by an additional 125 meters along strike to the south. Two new targets were also drilled during the program. The R45 Target, which is located south of Baker Lake and is a silicified shear that was historically trenched for 60 meters. Also, the Baker West Target, a 300-meter-long shear located near the western shore of Baker Lake.
Drilling was also completed at the historic No.22 Vein, located south of the Rod Zone. Surface sampling complete in 1965 returned 2.74 oz./T over 2.5 feet (94 g/t Au over 0.76 meters)3. In 2015, a chip sample collected near the vein returned 37.2 g/t Au over 0.2 meters4.
3. | Schiller, E.A. and Hornbrook, EH., (1965), Mineral Industry of the District of Mackenzie 1963. Geological Survey of Canada Paper 64‐22. |
4. | Power, M., (2016), Exploration Program at the Up Town Gold Project; Assessment Report submitted for Claims UTG 1-6 (K15961-K15966) |
Historic property scale geochemical and geophysical surveys defined several structural corridors localizing the principal gold showings. Mineralization at the Up Town Gold property is granitoid-hosted and belongs to the class of Archean granitoid-hosted lode gold deposits. Prominent examples include Woodcutters Goldfields in Australia; Buzwagi in Tanzania; Renabie, Cote Lake, Hammond Reef and Hasaga in Ontario; and several mines in the Bourlamarque Batholith in Quebec.
Judson Culter, CEO at Rover Metals, states “We are expecting results from the Phase 2 Drill Program at Up Town Gold in Q1-2022, and we are wishing Arctic Fox the best of luck with their proposed listing on CSE.”
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and Arctic Fox and a Qualified Person for the purposes of National Instrument 43-101.
Advisor Agreements
The Company has received approval from the TSXV to issue common shares to two of its advisors as payment settlement for their services. Robert Schafer’s advisory services of $7,500, for the period of July 1, 2021 to September 30, 2021, will be paid through the issuance of 113,242 common shares as full payment settlement. The shares will bear a four-month regulatory hold period from the date of issuance. Abingdon Capital’s advisory services of $7,500, for the period of July 1, 2021 to September 30, 2021, will be paid through the issuance of 113,242 common shares as full payment settlement. The shares will bear a four-month regulatory hold period from the date of issuance.
About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in the summer of 2021, and exploration work continues at Cabin Gold through to the date of this release.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetalsLinkedIn: https://www.linkedin.com/company/rover-metals/Facebook: https://www.facebook.com/RoverMetals/for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor corporate videos.
Website:https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617
- Published in Mining, News Home, Rover Metals
Rover Provides Update on Timing of Phase 2 Exploration Results at Cabin Gold Project, NT, Canada
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (“Rover” or the “Company”) has received an update from ALS Canada and expects to be fully reported on the results of its Summer 2021 Phase 2 Drill Program, at its Cabin Gold Project, by the end of November. The Company anticipates issuing a news release on the results in early December.
About the Cabin Gold Project
In September 2020, Rover kicked-off its first exploration drilling program at the historic Cabin Gold Project. The exploration program included both confirmation and expansion drilling of historical high grade gold drill intercepts in the “Arrow Zone” area of the historic Bugow Iron Formation. The Bugow Iron Formation is the controlling structure for the gold mineralization on the property and is over 15 km in at or near surface length. In Q4-2020, the Company reported an intersection of 32 meters of continuous gold averaging 13.6 grams per ton Au from the Arrow Zone. Rover’s 2020 expansion drilling included the discovery of what it believes to be a primary gold bearing ore shoot at the Arrow Zone. The Arrow Zone remains open at depth, underneath Cabin Lake, and is only accessible for expansion drilling in the winter months. Rover’s 2020 drill program was the initial step towards confirming and expanding the historic 100,000 tons at 0.30 Oz/ton Au* historic resource estimate, reported for the Arrow Zone, towards a NI 43-101 compliant mineral resource estimate. The Arrow Zone will see expansion drilling commencing in Q1-2022, as soon as the ice drill pads and ice road to site have been constructed.
In July 2021, Rover commenced a Phase 2 Exploration Program at the Cabin Gold Project. The goal of the Phase 2 Exploration Program was the discovery and definition of new, near surface, gold bearing zones along the Bugow Iron Formation. The Company focussed on five known historic targets areas: (1) the Beaver; (2) the Andrew South; (3) the Andrew North; (4) the Camp South; and (5) Camp North. As of the date hereof, the Company is still waiting on results of its summer exploration program. Any new discoveries will form part of the Company’s Phase 3 Winter Exploration Program slated to begin in Q1-2022.
(*) As per Section 2.4 of NI 43-101, Aber Resources Ltd. reported a mineral inventory (that does not compare to the current CIM Definitions Standards mineral resource categories) of 100,000 tons at 0.30 ounces per ton gold at the Cabin Lake Gold Zone on the north limb of the folded Bugow Iron Formation in their 1986 and 1987 annual reports. The parameters used for the resource calculation are unknown. These results are relevant as to delineate a larger zone of gold mineralization at the Cabin Lake Gold Zone, but further drilling is needed to bring that up to CIM Definition Standards. The reader is cautioned that a Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources and Rover Metals is not treating the historical estimates as current mineral resources.
Technical information in this news release has been approved by Raul Sanabria, M.Sc., P.Geo., Technical Advisor and shareholder of Rover Metals Corp. and a Qualified Person for the purposes of National Instrument 43-101.
About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its Cabin Gold Project in the summer of 2021, and is planning to commence Phase 3 Exploration in Q1-2022.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetalsLinkedIn: https://www.linkedin.com/company/rover-metals/Facebook: https://www.facebook.com/RoverMetals/for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor corporate videos.
Website: https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617
- Published in Mining, News Home, Rover Metals
Rover Announces $0.08 Flow-through Unit Financing and Closing
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (“Rover” or the “Company”) is pleased to announce a non-brokered flow-through unit financing (the “Units”) for $200,000. Each Unit is priced at $0.08 and is comprised of one common share and one-half (1/2) of a common share purchase warrant (the “$0.08 FT Unit Financing”). The warrants have an exercise price of $0.12 per warrant share, and a life of two years. Rover is also pleased to announce that the financing is now fully subscribed and that it has received permission from the Toronto Venture Exchange (the “TSXV”) to close, as of the date hereof. There will be 2,500,000 common shares and 1,250,000 common share purchase warrants issued in connection with this financing. There will be the standard 4-month regulatory hold period for both the common shares and the common share purchase warrants in connection with this financing. No financing fees have been paid in connection with this financing.
Closing of the $0.08 FT Unit Financing
Legendary junior mining investor, Tookie Angus, has purchased 100% of the $0.08 FT Unit Financing allocation, adding to his existing position in the Company.
Use of Proceeds
The use of proceeds of the financing will be for Phase 3 Winter Exploration activities at the Cabin Gold Project. Starting this month, the Company will begin building the ice drill pads on Cabin Lake needed for follow-up drilling at the Arrow Zone. In Q4-2020, the Company reported an intersection of 32 meters of continuous gold averaging 13.6 grams per ton Au from the Arrow Zone. The Arrow Zone remains open at depth, underneath Cabin Lake, and is only accessible for expansion drilling in the winter months. The release of the map location of the ice drill pads will be part of a future updating news release.
Update on Timing of Summer 2021 Phase 2 Exploration Results
COVID-19 logistic delays at the testing laboratories continue to cause delays in the reporting process for junior miners. Rover expects to have a news release out next week with an update on the timing of the release dates of its Summer Phase 2 Exploration Results.
In September 2020, Rover kicked-off its first exploration drilling program at the historic Cabin Gold Project. The exploration program included both confirmation and expansion drilling of historical high grade gold drill intercepts in the “Arrow Zone” area of the historic Bugow Iron Formation. The Bugow Iron Formation is the controlling structure for the gold mineralization on the property and is over 15 km in at or near surface length. Rover’s 2020 expansion drilling included the discovery of what it believes to be a primary gold bearing ore shoot at the Arrow Zone. Rover’s 2020 drill program was the initial step towards confirming and expanding the historic 100,000 tons at 0.30 Oz/ton Au* historic resource estimate, reported for the Arrow Zone, towards a NI 43-101 compliant mineral resource estimate.
In July 2021, Rover commenced a Phase 2 Exploration Program at the Cabin Gold Project. The goal of the Phase 2 Exploration Program was the discovery and definition of new, near surface, gold bearing zones along the Bugow Iron Formation. The Company focussed on five known historic targets areas: (1) the Beaver; (2) the Andrew South; (3) the Andrew North; (4) the Camp South; and (5) Camp North. As of the date hereof, the Company is still waiting on results of its summer exploration program. Any new discoveries will form part of the Company’s Phase 3 Winter Exploration Program slated to begin in Q1-2022.
(*) As per Section 2.4 of NI 43-101, Aber Resources Ltd. reported a mineral inventory (that does not compare to the current CIM Definitions Standards mineral resource categories) of 100,000 tons at 0.30 ounces per ton gold at the Cabin Lake Gold Zone on the north limb of the folded Bugow Iron Formation in their 1986 and 1987 annual reports. The parameters used for the resource calculation are unknown. These results are relevant as to delineate a larger zone of gold mineralization at the Cabin Lake Gold Zone, but further drilling is needed to bring that up to CIM Definition Standards. The reader is cautioned that a Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources and Rover Metals is not treating the historical estimates as current mineral resources.
Technical information in this news release has been approved by Raul Sanabria, M.Sc., P.Geo., Technical Advisor and shareholder of Rover Metals Corp. and a Qualified Person for the purposes of National Instrument 43-101.
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its Cabin Gold Project in the summer of 2021, and is planning to commence Phase 3 Exploration in Q1-2022.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617
- Published in Mining, News Home, Rover Metals
Rover Metals Announces Phase 2 Exploration Drilling to Commence at Up Town Gold Project, NWT, Canada
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) is pleased to announce that Phase 2 Exploration Drilling is set to commence at the Up Town Gold project, NWT, Canada (60th parallel) on September 30, 2021.The Company has optioned a 75% interest in the project to Melius Capital Corp (“Melius Capital”). Melius Capital is seeking a public listing of its shares on the Canadian Securities Exchange (the “CSE”) in Q4-2021, and expects to change its name to Artic Fox Minerals. Eligible shareholders can find more information about the Melius Capital public listing here.
Up Town Gold Project
The Up Town Gold project is located on the outskirts of city limits of the city of Yellowknife. The Up Town Gold project is an Archean lode-gold prospect adjoining the historic 7.2 million ounces1 (0.564 ounces per tonne Au or 16 g/t Au) Giant Mine gold deposit in Yellowknife, Northwest Territories and Gold Terra Resources’ (TSXV: YGT) Yellowknife City Gold Project. The 3,227 hectare property hosts ten high-grade gold occurrences. Most work to date has been conducted at the Rod Vein which was drilled to a shallow depth in the 1960’s and mined on a small scale in 1979 by previous owners. Recent historic surface sampling at the Rod Vein returned grab samples up to 318 g/t Au and channel samples up to 1.20 m @ 17.27 g/t Au2. Drilling by Rover Metals in 2017 at the Rod Vein returned significant gold intersections in all of three holes drilled with best results of 5.4 m @ 4.28 g/t Au including 0.9 m @ 22.10 g/t Au (Rover Metals Press Release dated October 4, 2017). At the Fox South zone, a different style of wide, disseminated, shear zone hosted mineralization returned historic surface samples up to 30.3 g/t Au. Rover tested the Fox South zone with three drill holes in 2017 with best results of 7.1 m @ 0.62 g/t Au including 0.3 m @ 5.12 g/t Au.
Phase 2 Exploration Drill Program
The north-east quadrant of the property, adjoining Gold Terra’s Yellowknife City Gold Project, to the north of the city of Yellowknife, has remained largely unexplored in recent years. The north-east quadrant is now the focus of the Phase 2 Exploration Drill program. Specifically, the No.1 Vein, the J-7 Vein, and the Big Vein have not seen any drilling since the 1960’s. In 1964, the No. 1 Vein reported a historic drill intersection of 34.3 g/t Au over 0.7 meters2. The J-7 Vein reported a drill intersection of 1.33 g/t over 1.77 meters2. Subsequent sampling by Manson Creek in 2012 at J-7 returned 2.1 meters @ 7.99 g/t Au from a chip sample and 6.3 meters @ 3.98 g/t Au (including 1.55 meters @ 15.74 g/t Au) from a sawn channel sample2. The Big Vein reported a 1963 drill intersection of 34.3 g/t Au over 0.7 meters2. Recent geophysics conducted in H1-2021 by Melius Capital has further helped to delineate the drill targets for each of the No.1 Vein, the J-7 Vein and the Big Vein.
- Silke, R. 2009. The Operational History of Mines in the Northwest Territories, Canada. Tables 3,4,5,and 6 from pages 266, 269, and 270.
- The Up Town Gold property contains eight principle showings documented in the NWT mineral showing database (NORMIN).
Historic property scale geochemical and geophysical surveys defined several large-scale structural corridors localizing the principal gold showings and parallel to the Giant Shear Zone in the Yellowknife Greenstone Belt. Mineralization at the Up Town Gold property is granitoid-hosted and belongs to the recently-recognized class of Archean granitoid-hosted lode gold deposits. Prominent examples include Woodcutters Goldfields in Australia; Buzwagi in Tanzania; Renabie, Cote Lake, Hammond Reef and Hasaga in Ontario; and several mines in the Bourlamarque Batholith in Quebec.
Judson Culter, CEO at Rover Metals, states “We are excited to see more gold exploration commence in and around Yellowknife Campbell Shear. The Yellowknife jurisdiction has really been heating up with several competing junior miners in the area recently disclosing multi-million-ounce gold resources. Last year, when Newmont optioned off some of its Con Mine claims to Gold Terra, there was a renewed sentiment of future economic growth in the mining sector for the city.”
Technical information in this news release has been approved by Raul Sanabria, M.Sc., P.Geo., Technical Advisor and shareholder of Rover Metals Corp. and a Qualified Person for the purposes of National Instrument 43-101.
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in the summer of 2021, and exploration work continues at Cabin Gold through to the date of this release.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website:https://www.rovermetals.com/
- Published in Mining, News Home, Rover Metals
Rover Metals Announces Cabin Gold Property Exploration Update, NWT, Canada
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) is pleased to announce that the drilling component of its Phase 2 Exploration Program at its 100% owned Cabin Gold Project, Northwest Territories of Canada (60th parallel), is now complete. The Company drilled 31 NQ diamond drill holes across multiple near-surface targets along the Bugow Iron Formation. The Company has successfully intersected the targeted historic sulfidized zones, as well as some new conceptual targets. The Company plans to release the drill results zone by zone, once the assay results from the lab become available. The last part of the Phase 2 Exploration Program, a Ground IP Geophysics Study, is set to commence at the end of September 2021.
Ground IP Geophysics Study
The Company ran a ground IP test at the end of August and the results have come back favorable both in terms of: (a) identifying sulfidized versus non-sulfidized areas of the Bugow Iron Formation; and also (b) in terms of returning highly sulfidized areas versus lower sulfidized areas. High-grade gold at the Cabin Gold project is associated with highly sulfidized zones of the hosted iron formation. The favorable test results have led to the Company planning a large IP survey, including all of the known gold bearing zones on the project, in addition to some new anomaly targets. A link to the plan view of the IP survey can be found here:
https://www.rovermetals.com/landingpages/cabingold2021-nr-9-9-2021.html
The zones targeted for IP work includes the Arrow Zone that reported 32 meters of 13.6 g/t Au in Q4-2021. A successful IP program at the project will assist the Company in delineating deeper drill targets for a Phase 3 Drill Program in Q1 of 2022.
Regional LiDAR and Airborne Geophysics Work
The Company is also pleased to report that it has now completed a regional LiDAR imaging study as well as a regional airborne magnetic survey. The LiDAR and airborne magnetic campaigns have opened up other iron formations in the region for future exploration, including at the Slemon Gold project. The results of these campaigns will also help the Company in the planning of its Phase 3 Drill Program in Q1 of 2022. Results from the regional LiDAR and airborne magnetic campaigns will be made available in the coming weeks.
Judson Culter, CEO at Rover Metals, states “We are very fortunate to have been able to complete a multi-faceted exploration program at Cabin Gold this summer. The final leg of the exploration will commence at the end of the month, and will set the stage for deeper drilling of all defined gold bearing zones in Q1-2022. The goal of this program was to define at least one new additional zone open at depth. We believe we have accomplished this goal, and the results will be made available in the coming weeks. As it stands, the Arrow Zone discovery that we made in Q4-2020 remains open at depth, and that will be our first drill target for Q1-2022.”
Technical information in this news release has been approved by Raul Sanabria, M.Sc., P.Geo., Technical Advisor and shareholder of Rover Metals Corp. and a Qualified Person for the purposes of National Instrument 43-101.
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its Cabin Gold Project in the summer of 2021.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetalsLinkedIn: https://www.linkedin.com/company/rover-metals/Facebook: https://www.facebook.com/RoverMetals/for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor corporate videos.
Website:https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617
- Published in Mining, News Home, Rover Metals
Rover Provides Update on Phase 2 Exploration at Cabin Gold Project, NT, Canada
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) further to its release of June 8, 2021, announcing the start of its Phase 2 Exploration Program at its 100% owned Cabin Gold Project, Rover has now received its first batch of rush assays for diamond drill hole CL-21-10 and is reporting an average grade of 5.71 g/t Au over 3.4 meters (true width). The Company is still waiting on assays for over 10 meters of hole CL-21-10. The reported grades are 90% higher than historic hole DDH-88-61 that was drilled at a similar location in the Beaver Zone in the 1980s.
Sample # | From | To | Interval (m) | Au g/t |
V749219 | 45.6 | 45.9 | 0.3 | 22.4 |
V749217 | 45.9 | 46.4 | 0.5 | 5.4 |
V749221 | 46.4 | 46.7 | 0.3 | 8.33 |
V749222 | 46.7 | 47.2 | 0.5 | 1.43 |
V749223 | 47.2 | 47.7 | 0.5 | 0.42 |
V749224 | 47.7 | 48.2 | 0.5 | 1.45 |
V749225 | 48.2 | 49 | 0.8 | 7.3 |
The Beaver Zone
The current drill holes at the historic Beaver Zone are 400 meter step-out holes to the Arrow Zone (formerly the Cabin Lake Zone) that reported 32 meters of 13.6 g/t Au in Q4-2020, with >30% sulfides, resulting in the Arrow Zone ore shoot discovery. The preliminary results coming from the Beaver Zone show that high-grade gold continues to be associated with high sulfide values. The Company is also pleased to announce that the core logging of new drill hole CL-21-13 (assays still at lab) has reported >30% sulfides, shearing, and quartz flooding.
Judson Culter, CEO of Rover Metals states, “the Phase 2 Exploration Drill Program was planned to target historic zones on the Cabin Gold property that carried sulfide rich historic results. We’re very pleased that the preliminary results of our program at the historic Beaver Zone are proving that high-sulfides continue to be associated with high-grade gold. The fact that we continue to increase the average gold grades across the property shows the exploration potential of the Cabin Gold Project. Additionally, we’re reporting true width intercepts of 3.4 meters at hole CL-21-10 due to the angle of the sulfide intercepts. It’s still early in the program, and we remain very optimistic on defining an additional zone comparable to the Arrow Zone. The historic Andrew South Zone is also being targeted in this summer’s drill program.
Rover is holding an informative webinar to discuss its exploration program on July 22, 2021 at 11:00am PST (Vancouver time) hosted by RBMG. Please contact Paul Lampoutis plampoutis@rbmilestone.com if you wish to register for this event.”
Technical Information
Drill core is cut with half sent to ALS Global Laboratories (ALS) for crushing to <2 mm with 250 g split pulverized to -75 µm (200#). ALS is an ISO 17025 accredited laboratory. A 30g change is fire assayed and analysed using AAS finish for Gold. Select samples with visible gold or high-grade mineralization are assayed by metallic screen prep and fire assay on a 1 kg sample.
True thickness of the intervals reported herein have not been calculated, therefore, all intervals are reported as drill core intervals and should be considered apparent thicknesses. All historic and 2021 program gold averages are reported at weighed averages.
Technical information in this news release has been approved by Raul Sanabria, M.Sc., P.Geo., Technical Advisor and shareholder of Rover Metals Corp. and a Qualified Person for the purposes of National Instrument 43-101.
About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company has recently re-branded, and has a new corporate logo, and has updated the look and feel of its website, and corporate documents.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
- Published in Mining, News Home, Rover Metals
Rover Announces Closing of $0.10 Unit Financing
Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (“Rover” or the “Company”) further to its release of June 1, 2021, announcing its First Closing, Rover is pleased to announce that is has raised a total of $2,425,000.00 under its non-brokered $0.10 Unit Financing. A total of 24,250,000 units have been issued in connection with this financing. Each Unit is comprised of one common share and one common share purchase warrant. Further to the June 1st First Closing, the Company has raised $1,378,700.00 under this Second and Final Closing (the “Second Units”). Each Second Unit is priced at $0.10 and is comprised of one common share and one common share purchase warrant. The Second Warrants have an exercise price of $0.15 per warrant share, and a life of two years. The Company has paid total cash finder’s fees of $103,602.10 and issued finder’s warrants of 761,221 in connection with this financing. The finder’s warrants bear the same terms as the warrants issued under this financing. The Second Units will bear the minimum four-month regulatory hold period from the date of issuance.
Use of Proceeds
The use of proceeds of the $0.10 Unit Financing will be to finance exploration and exploration drilling at the Company’s 100% owned Cabin Gold Projects. Summer exploration is already underway at all three gold properties: Cabin Gold, Slemon Gold, and Camp Gold.
About the Cabin Gold Projects
On September 8, 2020, Rover kicked-off its first exploration drilling program at the historic Cabin Gold Project. The exploration program included both confirmation and expansion drilling of historical high grade gold drill intercepts in the Bugow “Cabin Lake Gold Zone.” Rover’s expansion drilling included the discovery of what it believes to be a primary gold bearing ore shoot at the Cabin Lake Gold Zone (see Figure 1 below). As released on November 24, 2020, drill hole CL-20-08 intersected 32 meters of continuous gold averaging 13.6 grams per ton Au. The significance of hole CL-20-08 is that economic gold grades start at just 17.5 meters from surface, and the hole has identified a northwest trend and plunge at depth, of the gold mineralization in the ore shoot zone. Hole CL-20-08 also intersected and confirmed historic holes DDH86-12 (15.77 g/t Au over 8.02m) and DDH86-28 (11.74 g/t Au over 16.0m).
Figure 1 – Drill Plan View Featuring Ore Shoot
Rover’s September 2020 drill program was the initial step towards confirming and expanding the historic 100,000 tons at 0.30 Oz/ton Au* historic resource estimate, reported for the Bugow Cabin Lake Gold Zone, towards a NI 43-101 compliant mineral resource estimate. Historic drill intersects reported in the Bugow Cabin Lake Gold Zone also include reported holes DDH 86-13 of 14.23 g/t Au over 6.1m; and DDH 86-10 with 10.84 g/t Au over 10.0m. As released on May 6, 2021, the Company is now drilling at the historic Beaver Zone and Andrew South Zone, as part of its Phase Two Exploration Program.
(*) As per Section 2.4 of NI 43-101, Aber Resources Ltd. reported a mineral inventory (that does not compare to the current CIM Definitions Standards mineral resource categories) of 100,000 tons at 0.30 ounces per ton gold at the Cabin Lake Gold Zone on the north limb of the folded Bugow Iron Formation in their 1986 and 1987 annual reports. The parameters used for the resource calculation are unknown. These results are relevant as to delineate a larger zone of gold mineralization at the Cabin Lake Gold Zone, but further drilling is needed to bring that up to CIM Definition Standards. The reader is cautioned that a Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources and Rover Metals is not treating the historical estimates as current mineral resources.
Technical information in this news release has been approved by Raul Sanabria, M.Sc., P.Geo., Technical Advisor and shareholder of Rover Metals Corp. and a Qualified Person for the purposes of National Instrument 43-101.
About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company has recently re-branded, and has a new corporate logo, and has updated the look and feel of its website, and corporate documents.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetalsLinkedIn: https://www.linkedin.com/company/rover-metals/Facebook: https://www.facebook.com/RoverMetals/for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor corporate videos.
Website: https://www.rovermetals.com/
- Published in Mining, News Home, Rover Metals