Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF)
(“
Rover Metals” or the “
Company”)
further to its releases of September 15, 2020, September 21, 2020,
and October 5, 2020, the Company has now concluded its fall
drilling exploration program at its 100% owned Cabin Lake gold
project.
Fall 2020 Cabin Lake
Exploration ProgramRover Metals has now completed nine (9)
diamond drill holes at the historic Cabin Lake Bugow iron formation
gold zone. The Fall 2020 program achieved the Company’s goals of
intersecting the sheared sulfidized upper contact of the Bugow iron
formation that historically reported the high-gold values. Drilling
with HQ core size was of great assistance in better identifying
structures, cross-cutting relationships of different mineralizing
stages, as well as alteration. The intent of this release is to
discuss the logging of the last two holes of the program as well as
to provide certain other updates.
Hole CL-20-08 was drilled
oblique to both the iron formation and the inferred shear corridor.
Hole CL-20-08 had the highest level of influence, of all nine
holes, from the shear zones (see pictures/links below) by means of
quartz flooding as parallel veinlets crosscutting bedding
(sulfidized) of the Bugow iron formation. Sulfide content in hole
CL-20-08 exceeds 40% in a large intersect that starts at 18.04m and
ends at 46.0m.
Hole CL-20-08: Quartz veinlets part of the
deformation corridor crosscutting bedding (sulfidized) of the Bugow
IF
Hole CL-20-08: Intense sulfide replacement and
quartz flooding in the target zone of the Bugow Iron Formation
Hole CL-20-08: Strong selective sulfide
replacements of the Bugow Iron Formation, cross cut by quartz
veinlets part of the deformation zone, also carrying sulfides
(pyrite)
https://rovermetals.com/landingpages/cabinlake2020-3.html
Hole CL-20-09 tested a deep
zone of the Bugow iron formation outside of the historic gold zone,
targeting the historic hole 90-70 where an intersect of 7.99 g/t Au
over 0.5m (from 154.5 to 155m) was reported. New hole CL-20-09 was
directed at a shallow angle towards the iron formation aimed to get
the biggest possible section of the shear corridor before, and in
the iron formation, as well as reaching the target historic zone.
Hole CL-20-09 was successful in intersecting the upper contact of
the Bugow iron formation at 115.95m and continuously following it
to 181m, with several sulfidized zones encountered (see
picture/link below).
Hole CL-20-09: Coarse sulfide patch at 148.30m in
hole CL-20-09 at the equivalent depth of target zone in historic
hole 90-70
https://rovermetals.com/landingpages/cabinlake2020-4.html
Drilling AssaysThe Company has been able to
secure arrangements to receive timely assays of its samples from
the nine holes drilled in the Fall 2020 Cabin Lake Exploration
Program. The Company anticipates releasing the assays for its first
three holes next week, and releasing the assays from the remainder
of the program in early November.
October 14, 2020 New Orleans Investor
ConferenceThe Company will be discussing the preliminary
results of the Fall 2020 exploration program at the upcoming New
Orleans Investor Conference. Please register for the virtual
conference to book a one-on-one meeting with the Company’s CEO.
Judson Culter, CEO at Rover Metals, states “The
New Orleans Investor Conference virtual booth will be hosted by
myself and Raul Sanabria, the Company’s Technical Advisor for the
recent drilling at Cabin Lake. We look forward to discussing the
Company’s interpretation of the logging of the drill core as it
relates to the historical gold mineral resource estimate in the
Cabin Lake Bugow zone.”
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 MetalsRover Metals
is a precious metals exploration company specialized in North
American precious metal resources, that is currently advancing the
gold potential of its existing projects.
You can follow Rover Metals 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, andYouTube:
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: Judson Culter Email:
judson@rovermetals.com Phone: (604) 449-5347
Statement Regarding Forward-Looking
InformationThis 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 RELEASE.
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