VANCOUVER, Jan. 14, 2019 /CNW/ - Rover Metals Corp.
(TSXV: ROVR)(OTC Pink Sheets: ROVMF) ("Rover Metals" or the
"Company") is pleased to announce that the Company's technical team
has identified its drill targets for the Cabin Lake Gold Project
(the "Property") based on a combination of (i) its interpretation
of historic workings and (ii) the recently completed geophysical
and geochemical program performed in Q3 and Q4 of 2018.
Judson Culter, CEO at Rover Metals, states: "The 2018 magnetic
survey and soil sampling program results have expanded the
anomalous zones and expanded on the known gold mineralized zones.
Within these zones we have identified the best drill targets for
converting the historic drill results into current NI 43-101
resource standards. The new targets were developed from the
re-interpretation of the historic work programs completed to date,
which included over 7,500 meters of diamond drill data purchased
from North Arrow Minerals – a legacy asset from exploration
drilling completed by Aber Resources (Grenville Thomas) in the late 1980's."
The Company has found and GPS referenced all the historic
blasted trenches and small pits at the Andrew North and South
Zones, as well as those located at the Beaver, Camp and other
locations within the Property. The UAS magnetic survey was key to
providing the desired resolution and contrast on the Bugow Iron
Formation, known host of the Property's gold mineralization. The
2018 ground geochemical soil survey produced multi-element
(Au-Ag-As-S-Cu) anomalies over known mineralization zones and
additional zones coincident with conceptual mineralized
targets.
Three zone were prioritized for the 2019 diamond core drilling
campaign: the Cabin Lake Gold Zone, the Andrew South Hinge Zone and
the Andrew North Hinge Zone.
Cabin Lake Gold Zone
This mineralized zone is the anchor mineralized zone for the
Property. It has a historic non-NI 43-101 compliant resource
estimate of 100,000 tons grading 10 gpt Au. Mineralized zone strike
length is over 100m and to a shallow
depth of 70m from surface. The best
historic mineralized diamond core drill holes reported by Aber
Resources include 15.0g/t Au over 12.1m (in hole DDH86-28); 15.8 g/t Au over
8.02m and 9.6 g/t Au over
1.04m (in hole DDH86-12); and 12.5
g/t Au over 4.1m (in hole DDH86-26),
amongst other encouraging drill intercepts.
Rover Metals will continue to diamond core drill this zone at
different hole geometries, with a larger area diamond drill
core diameter (NQ2 or HQ) in order to both validate the historical
intercepts and continue to expand the mineralized zone along
strike and depth.
Andrew South Hinge Zone
This mineralized zone has been expanded from the
re-interpretation of the historical data. The Bugow Iron formation
surface projections from the UAS magnetic survey clearly
indicates the historic mineralized zone geometry is comprised of
100m long tight fold closure (hinge)
of a synform that wraps along the Bugow Iron Formation and
continues to the northwest. The topography is also recessive on
that flank of the synform and the intensity of the Total Magnetic
response may indicate sulphidization, in a very similar arrangement
as the Cabin Lake Gold Zone. More than 20 historic pits/trenches
have been identified by GPS surveying. The Andrew South zone
has a non-NI 43-101 compliant resource estimated at 43,900 tons
grading 4.39 gpt Au.
A diamond core drill program has been designed follow the hinge
down dip under the historic open cut towards the northwest
following the fold limb in areas or reduced magnetic intensity that
suggest higher sulphide content as replacements of the Iron
Formation as part of the proven geologic model.
Andrew North Hinge Zone
This mineralized zone has been reinterpreted from
historical data. The fold closure (hinge) geometry correspond to an
antiform and it is more open than at the Andrew South. All
trenches/pits have been GPS located. The Andrew North zone has a
non-NI 43-101 compliant resource estimate of 18,100 tons grading
7.89 gpt Au.
A diamond core drilling program has been designed to further
investigate areas of reduced magnetic intensity within the Bugow
Iron formation at the hinge zone coincident with recessive
topography, to test for gold mineralization.
Other zones
Additional shear zones and parallel sets of sulphidized iron
formations have been located in other parts of the Property and a
meaningful exploration program has been designed to perform
prospecting, mapping, and sampling.
Technical information in this news release has been approved by
Raul Sanabria, M.Sc., P.Geo., VP of
Exploration at Rover Metals Corp. and a Qualified Person for the
purposes of National Instrument 43-101.
About Rover Metals
Rover Metals is a natural
resource exploration company specialized in Canadian precious metal
resources that is currently focused on the Northwest Territories of Canada, one of the most mining friendly
jurisdictions in North America.
Rover Metals will have a booth (#911) at the upcoming Vancouver
Resource Investor Conference on January
20-21, 2019 featuring a 3D rendering of its exploration
model for the Cabin Lake Gold Project.
ON BEHALF OF THE BOARD OF DIRECTORS
"Judson
Culter"
Chief Executive Officer and Director
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 will 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
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SOURCE Rover Metals Corp.