Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF)
(“
Rover Metals” or the “
Company”)
further to its release of October 26, 2020, Rover Metals is pleased
to announce that all fire assays from its summer-fall 2020
exploration program at Cabin Lake have now been received.
Summer-Fall 2020
Cabin Lake Exploration ProgramNine diamond drill
holes were completed at the 100% owned Cabin Lake Gold Project in
early October 2020. The drill program was designed to confirm and
hopefully expand the historic high-grade gold intersects at the
southern Bugow zone, in both a parallel direction to historic holes
(twinned holes) and oblique to the historic azimuths. Oblique holes
were proposed to test the possible influence of a regional
deformation corridor, intersecting the Bugow Iron formation, and
responsible for gold deposition, therefore providing a better
understanding of the structural and mineralizing controls, and to
try to reproduce these mineralized zones (shoots) in other sectors
of the property where the Bugow Iron Formation is intersected and
the same conditions repeat. The October 26, 2020 release discussed
the results from holes CL-20-01 and CL-20-03. This release
discusses (1) the drill program as a whole (all results); (2) the
significance of the new, previously unreleased holes, as they
relate to both the historical holes and the new intersection of
hole CL-20-01 (discovery of a potential ore body); and (3) an
amendment to length and average grades of previously released
CL-20-03 (to slightly shorten the interval reported to adjust for
economic grades). See Table 1 below for a summary of assay
highlights.
Drill hole
CL-20-01 was drilled oblique (45 degrees
to bedding) to historic drill hole 86-28 in an attempt to confirm
the historic high-grade intersect (14.98 g/t Au continuous average
over 12.1m) and also to test the influence of shearing affecting
the Bugow Iron formation in both sulfidization and gold deposition.
Hole CL-20-01 intersected the amphibolitic iron formation at a
depth of 24.29m, where the upper contact appears sheared, deformed
and intensely sulfidized. The iron formation is also flooded with
quartz veining, likely related to a deformation/shearing event, and
more than probable, related to the gold mineralization. Later
narrow pegmatite bodies intrude both the host rock and the
mineralized zones, thus explaining the dilutive low to nil gold
values between high-grade gold intervals. The continuous long gold
mineralized interval extends from 24.63m to 46.64m for a total of
22.0m averaging 7.94 gpt Au (all averages reported in this release
are weighted). The 22.0 meter interval includes 2.78m averaging
18.50g/t Au. See Hole C-20-08, as well as Figure 1 – Drill Plan
View, below below for discussion of the intersection between holes
CL20-01 and CL-20-08.
Drill hole
CL-20-03 was planned with the intent of
validating and verifying both of the historic intersects of holes
86-10 and 86-11, as well as to intersect the historic Bugow Iron
formation in between these historic holes after applying deviation
corrections in the historic database. Hole CL-20-03 intersected a
long interval of continuous gold mineralization from the upper
sheared contact of the historic Bugow Iron formation at a depth of
41.199m to 54.84m, for a total of 13.7m averaging 6.97 g/t Au. The
13.7m intersect has a larger sub interval of continuous gold
mineralization of 11.5m averaging 7.96 g/t Au.
Drill hole
CL-20-05 was drilled oblique (45 degrees
to bedding) to historic drill hole 86-26, and at a similar
orientation to new hole CL-20-01 in an attempt to confirm the
historic high-grade intersect 12.54 g/t Au over 4.1m and also to
test the influence of shearing affecting the Bugow iron formation
in both sulfidization and gold deposition. New hole CL-20-05
intersected the sheared and sulphidized amphibolitic iron formation
at a depth of 45.53m. The continuous gold mineralized interval
extends from 45.53m to 55.2m for a total of 9.67m with a weighted
average of 4.15 g/t Au. The 9.67m interval includes a higher-grade
interval of 8.97 g/t Au over 3.11m (from 45.53m to 48.64m).
Drill hole CL-20-06 was drilled
along strike of CL-20-03. This hole was collared on section to
intersect with historic holes 86-29 and 86-24, both of which had
returned poor to nil historic gold assays. New hole CL-20-06 was a
success and a new discovery. It was drilled closer to surface than
the historic hole and intersected a silicified and sheared
sulphidic iron formation from 13.01m to 20.5m that graded a
continuous average of 7.55 g/t Au over 7.49m. The 7.49m interval
included 9.98 g/t over 5.57m (13.1m to 18.6m), and 13.78 g/t over
2.82m (13.1m to 15.9m). The 7.49m
intersection is significant because it shows that there are
significant mineralized
gold shoots that were missed during the
historic drill campaigns, and it
supports the new hypothesis that the high grade
gold at the Bugow zone
occurs closer to surface then previously
interpreted.
Drill hole CL-20-07 stepped-out
to the south of new hole CL-20-06 and intersected and confirmed
gold values drilled in historic hole 86-14. A variably silicified
and sheared iron formation was intersected from 28.0m to 52.93m.
New hole CL-20-07 returned higher grades than historically reported
bringing an continuous average interval of 7.05 g/t Au over 4.98m
(from 28.6m to 33.6m).
Drill hole CL-20-08
suggests the potential
discovery of continuous high-grade gold
ore body (see “Figure 1 – Drill Plan View” below).
New hole CL-20-08 was drilled oblique to historic drill holes 86-12
(15.77 g/t over 8.02m) and targeted the shear zone intersected by
new hole CL-20-01 (see above). CL-20-08 intersected gold
mineralized iron formation at a depth of 18.04m. The continuous
gold mineralized interval extends from 18.04m to 32m averaging
13.66 g/t Au over
31.9m. The 31.9m
interval includes 29.9m of continuous 14.45 g/t gold. Hole
CL-20-08 supports the interpretation that
gold mineralization associated with shearing
in the iron formation is
continuous between the section collared at
CL-20-01 and CL-20-08, and boosts the overall
average of continuous gold intersected by
CL-20-01.
Drill holes CL-20-02,
CL-20-04, and CL-20-09
did not return significant gold values. However, these drill holes
continued through the iron formation and are helping to provide a
better understanding of the structures that control the gold
mineralization reported above.
Figure 1 –
Drill Plan View
Judson Culter, CEO at Rover Metals, states “we
are excited to get back to drilling at Cabin Lake, and the above
featured Bugow zone, as soon as Q1-2020. Our preliminary geological
modelling suggests that the ‘DDH 86-28 to CL-20-01 to CL-20-08 to
DDH86-19’ quadrant at Bugow is a conceptual high-grade ore body
that needs to be drill tested at depth. The continuity of gold
mineralization in Holes CL-20-01 and CL-20-08 shows us that gold is
associated with sheared intervals of the iron formation and is not
stratiform to bedding. The Summer 2020 drill confirmation of our
exploration approach generates new targets not only within the
Bugow zone, but also within the other historic showings on the
property (the Beaver Zone, Andrew South Zone, and the Andrew North
zone). We also now have opened the door to several greenfields
targets on the project.”
Rover’s technical team, led by Raul Sanabria,
will continue to work on updates to the company’s website in the
coming days. Updates will include more technical cross-sections and
3D modelling of all drill results at the Bugow zone to date. The
Company intends to share the assay certificates and the raw drill
data on its website as well, along with geological comparables for
Northwest Territories archean load gold deposits that have
statistically had a one-to-eight horizontal-to-vertical ratio for
mineralization at depth.
Table 1.
Summary of Assay Results
CL-20-01 |
From(m) |
To(m) |
Interval(m) |
Sample ID |
Au ppm |
24.63 |
24.93 |
0.30 |
V745603 |
1.45 |
24.93 |
25.40 |
0.47 |
V745604 |
5.38 |
25.40 |
25.90 |
0.50 |
V745606 |
11.50 |
25.90 |
26.27 |
0.37 |
V745607 |
16.20 |
26.27 |
26.71 |
0.44 |
V745608 |
1.88 |
26.71 |
27.38 |
0.67 |
V745609 |
3.18 |
27.38 |
28.00 |
0.62 |
V745610 |
0.05 |
28.00 |
29.01 |
1.01 |
V745611 |
2.54 |
29.01 |
29.31 |
0.30 |
V745612 |
11.40 |
29.31 |
29.35 |
0.04 |
V745613 |
8.36 |
29.35 |
29.76 |
0.41 |
V745614 |
5.75 |
29.76 |
30.40 |
0.64 |
V745615 |
5.21 |
30.40 |
30.90 |
0.50 |
V745616 |
5.06 |
30.90 |
31.35 |
0.45 |
V745618 |
20.50 |
31.35 |
31.88 |
0.53 |
V745619 |
11.30 |
31.88 |
32.46 |
0.58 |
V745620 |
9.40 |
32.46 |
32.59 |
0.13 |
V745621 |
0.65 |
32.59 |
32.87 |
0.28 |
V745622 |
2.26 |
32.87 |
34.00 |
1.13 |
V745623 |
10.20 |
34.00 |
34.40 |
0.40 |
V745624 |
12.80 |
34.40 |
34.90 |
0.50 |
V745625 |
4.52 |
34.90 |
35.43 |
0.53 |
V745626 |
4.86 |
35.43 |
35.93 |
0.50 |
V745627 |
4.32 |
35.93 |
36.43 |
0.50 |
V745629 |
1.18 |
36.43 |
37.00 |
0.57 |
V745630 |
3.55 |
37.00 |
37.50 |
0.50 |
V745631 |
13.60 |
37.50 |
38.04 |
0.54 |
V745632 |
13.20 |
38.04 |
38.54 |
0.50 |
V745633 |
9.56 |
38.54 |
39.04 |
0.50 |
V745634 |
6.51 |
39.04 |
39.65 |
0.61 |
V745635 |
4.83 |
39.65 |
40.10 |
0.45 |
V745636 |
3.88 |
40.10 |
40.70 |
0.60 |
V745638 |
6.58 |
40.70 |
41.20 |
0.50 |
V745639 |
4.81 |
41.20 |
41.70 |
0.50 |
V745640 |
7.14 |
41.70 |
42.20 |
0.50 |
V745641 |
12.40 |
42.20 |
42.70 |
0.50 |
V745642 |
18.70 |
42.70 |
43.05 |
0.35 |
V745643 |
27.30 |
43.05 |
43.28 |
0.23 |
V745644 |
1.35 |
43.28 |
43.86 |
0.58 |
V745645 |
20.80 |
43.86 |
44.48 |
0.62 |
V745646 |
22.50 |
44.48 |
44.89 |
0.41 |
V745647 |
0.55 |
44.89 |
45.72 |
0.83 |
V745648 |
4.55 |
45.72 |
46.24 |
0.52 |
V745649 |
3.65 |
46.24 |
46.64 |
0.40 |
V745650 |
2.19 |
|
|
|
|
|
|
|
|
|
|
CL-20-03 |
From(m) |
To(m) |
Interval(m) |
Sample ID |
Au ppm |
41.19 |
42.06 |
0.87 |
V745769 |
1.29 |
42.06 |
42.53 |
0.47 |
V745770 |
4.72 |
42.53 |
43.00 |
0.47 |
V745771 |
23.6 |
43.00 |
43.46 |
0.46 |
V745772 |
11.6 |
43.46 |
43.99 |
0.53 |
V745773 |
3.35 |
43.99 |
44.35 |
0.36 |
V745774 |
3.06 |
44.35 |
44.97 |
0.62 |
V745775 |
1.72 |
44.97 |
45.44 |
0.47 |
V745776 |
2.12 |
45.44 |
45.95 |
0.51 |
V745777 |
4.99 |
45.95 |
46.48 |
0.53 |
V745778 |
8.41 |
46.48 |
46.94 |
0.46 |
V745779 |
23.3 |
46.94 |
47.44 |
0.50 |
V745781 |
23.5 |
47.44 |
47.97 |
0.53 |
V745782 |
5.45 |
47.97 |
48.57 |
0.60 |
V745783 |
18.1 |
48.57 |
49.00 |
0.43 |
V745784 |
16.9 |
49.00 |
49.65 |
0.65 |
V745785 |
10.8 |
49.65 |
49.95 |
0.30 |
V745786 |
5.13 |
49.95 |
50.45 |
0.50 |
V745787 |
3.86 |
50.45 |
50.95 |
0.50 |
V745788 |
0.086 |
50.95 |
51.45 |
0.50 |
V745789 |
0.048 |
51.45 |
52.10 |
0.65 |
V745790 |
0.64 |
52.10 |
52.60 |
0.50 |
V745791 |
6.28 |
52.60 |
53.07 |
0.47 |
V745792 |
1.82 |
53.07 |
53.55 |
0.48 |
V745794 |
5.1 |
53.55 |
54.50 |
0.95 |
V745795 |
1.83 |
54.50 |
54.84 |
0.34 |
V745796 |
2.32 |
CL-20-05 |
From(m) |
To(m) |
Interval(m) |
Sample ID |
Au ppm |
45.53 |
46.22 |
0.69 |
Y030060 |
31.50 |
46.22 |
46.68 |
0.46 |
Y030061 |
0.08 |
46.68 |
47.18 |
0.50 |
Y030063 |
1.18 |
47.18 |
47.76 |
0.58 |
Y030064 |
1.84 |
47.76 |
48.18 |
0.42 |
Y030065 |
5.04 |
48.18 |
48.64 |
0.46 |
Y030066 |
5.09 |
48.64 |
49.08 |
0.44 |
Y030067 |
0.19 |
49.08 |
49.64 |
0.56 |
Y030068 |
0.67 |
49.64 |
50.24 |
0.60 |
Y030069 |
0.40 |
50.24 |
50.74 |
0.50 |
Y030104 |
0.95 |
50.74 |
51.34 |
0.60 |
Y030105 |
0.73 |
51.34 |
51.84 |
0.50 |
Y030106 |
1.85 |
51.84 |
52.37 |
0.53 |
Y030070 |
2.87 |
52.37 |
52.87 |
0.50 |
Y030071 |
0.37 |
52.87 |
53.17 |
0.30 |
Y030072 |
0.32 |
53.17 |
54.00 |
0.83 |
Y030073 |
1.40 |
54.00 |
54.49 |
0.49 |
Y030074 |
5.99 |
54.49 |
54.70 |
0.21 |
Y030075 |
0.50 |
54.70 |
55.20 |
0.50 |
Y030076 |
7.36 |
CL-20-06 |
From (m) |
To (m) |
Interval(m) |
Sample ID |
Au ppm |
13.05 |
13.55 |
0.50 |
Y031107 |
16.90 |
13.55 |
13.85 |
0.30 |
Y031109 |
43.40 |
13.85 |
14.25 |
0.40 |
Y031110 |
2.42 |
14.25 |
15.00 |
0.75 |
Y031111 |
4.01 |
15.00 |
15.24 |
0.24 |
Y031112 |
14.50 |
15.24 |
15.54 |
0.30 |
Y031113 |
6.92 |
15.54 |
15.87 |
0.33 |
Y031114 |
23.80 |
15.87 |
16.40 |
0.53 |
Y031116 |
1.49 |
16.40 |
16.85 |
0.45 |
Y031117 |
1.87 |
16.85 |
17.64 |
0.79 |
Y031118 |
5.13 |
17.64 |
18.14 |
0.50 |
Y031119 |
16.20 |
18.14 |
18.62 |
0.48 |
Y031120 |
6.15 |
18.62 |
19.00 |
0.38 |
Y031121 |
0.67 |
CL-20-07 |
From(m) |
To(m) |
Interval(m) |
Sample ID |
Au ppm |
28.60 |
29.14 |
0.54 |
Y031132 |
8.08 |
29.14 |
29.64 |
0.50 |
Y031133 |
30.70 |
29.64 |
30.14 |
0.50 |
Y031135 |
2.25 |
30.14 |
31.15 |
1.01 |
Y031136 |
2.26 |
31.15 |
32.17 |
1.02 |
Y031137 |
0.12 |
32.17 |
32.96 |
0.79 |
Y031138 |
8.64 |
32.96 |
33.58 |
0.62 |
Y031139 |
8.11 |
CL-20-08 |
From(m) |
To(m) |
Interval(m) |
Sample ID |
Au ppm |
17.49 |
18.04 |
0.55 |
Y031167 |
2.58 |
18.04 |
18.57 |
0.53 |
Y031169 |
26.90 |
18.57 |
19.30 |
0.73 |
Y031170 |
13.60 |
19.30 |
19.94 |
0.64 |
Y031172 |
6.54 |
19.94 |
20.60 |
0.66 |
Y031173 |
18.20 |
20.60 |
20.90 |
0.30 |
Y031174 |
25.10 |
20.90 |
21.53 |
0.63 |
Y031175 |
28.00 |
21.53 |
22.00 |
0.47 |
Y031176 |
25.50 |
22.00 |
22.50 |
0.50 |
Y031177 |
20.80 |
22.50 |
22.94 |
0.44 |
Y031178 |
13.50 |
22.94 |
23.58 |
0.64 |
Y031180 |
7.44 |
23.58 |
23.88 |
0.30 |
Y031181 |
37.90 |
23.88 |
24.60 |
0.72 |
Y031182 |
13.20 |
24.60 |
25.00 |
0.40 |
Y031183 |
11.60 |
25.00 |
25.48 |
0.48 |
Y031184 |
31.10 |
25.48 |
25.81 |
0.33 |
Y031185 |
26.30 |
25.81 |
26.31 |
0.50 |
Y031186 |
17.00 |
26.31 |
26.84 |
0.53 |
Y031187 |
3.84 |
26.84 |
27.36 |
0.52 |
Y031188 |
5.14 |
27.36 |
28.10 |
0.74 |
Y031189 |
7.25 |
28.10 |
28.55 |
0.45 |
Y031190 |
11.60 |
28.55 |
29.09 |
0.54 |
Y031191 |
4.92 |
29.09 |
29.72 |
0.63 |
Y031192 |
12.10 |
29.72 |
30.38 |
0.66 |
Y031194 |
18.60 |
30.38 |
30.93 |
0.55 |
Y031195 |
14.70 |
|
CL-20-08 (continued) |
From(m) |
To(m) |
Interval(m) |
Sample ID |
Au ppm |
30.93 |
31.49 |
0.56 |
Y031196 |
8.36 |
31.49 |
32.01 |
0.52 |
Y031197 |
27.50 |
32.01 |
32.51 |
0.50 |
Y031198 |
20.60 |
32.51 |
33.00 |
0.49 |
Y031200 |
16.30 |
33.00 |
33.53 |
0.53 |
Y031501 |
2.46 |
33.53 |
34.13 |
0.60 |
Y031502 |
0.83 |
34.13 |
34.53 |
0.40 |
Y031503 |
1.52 |
34.53 |
35.06 |
0.53 |
Y031504 |
16.50 |
35.06 |
35.56 |
0.50 |
Y031505 |
21.40 |
35.56 |
36.00 |
0.44 |
Y031506 |
11.00 |
36.00 |
36.58 |
0.58 |
Y031507 |
15.20 |
36.58 |
37.22 |
0.64 |
Y031510 |
13.80 |
37.22 |
37.76 |
0.54 |
Y031511 |
5.45 |
37.76 |
38.48 |
0.72 |
Y031512 |
4.13 |
38.48 |
39.05 |
0.57 |
Y031513 |
9.00 |
39.05 |
39.65 |
0.60 |
Y031514 |
12.50 |
39.65 |
40.00 |
0.35 |
Y031515 |
9.50 |
40.00 |
40.50 |
0.50 |
Y031516 |
26.30 |
40.50 |
41.04 |
0.54 |
Y031517 |
19.30 |
41.04 |
41.50 |
0.46 |
Y031518 |
22.00 |
41.50 |
42.10 |
0.60 |
Y031519 |
11.80 |
42.10 |
43.15 |
1.05 |
Y031520 |
2.25 |
43.15 |
43.60 |
0.45 |
Y031521 |
0.35 |
43.60 |
44.02 |
0.42 |
Y031522 |
6.89 |
44.02 |
44.65 |
0.63 |
Y031523 |
20.70 |
44.65 |
45.17 |
0.52 |
Y031524 |
17.90 |
45.17 |
45.75 |
0.58 |
Y031526 |
21.90 |
45.75 |
46.23 |
0.48 |
Y031527 |
20.00 |
46.23 |
46.73 |
0.50 |
Y031528 |
6.29 |
46.73 |
47.29 |
0.56 |
Y031529 |
31.90 |
47.29 |
47.93 |
0.64 |
Y031530 |
22.40 |
47.93 |
48.45 |
0.52 |
Y031531 |
1.81 |
48.45 |
48.90 |
0.45 |
Y031532 |
1.94 |
Technical Information
Drill core is cut with half sent to AGAT
Laboratories Inc. (AGAT) for drying and crushing to -2 mm, with a
1.00 kg split pulverized to -75 µm (200#). AGAT is an ISO 17025
accredited laboratory. A 50 g charge is Fire Assayed and analyzed
using an AAS finish for Gold. Samples above 10.00 g/t Au are
analyzed by Fire Assay with a gravimetric finish and selected
samples with visible gold or high-grade mineralization are assayed
by Metallic Screen Fire Assay on a 1.00 kg sample.
True thicknesses of the intervals reported
herein reported have not been calculated, therefore, all intervals
are reported as drill core intervals and should be considered
apparent thicknesses. All historic and 2020 program gold grade
averages are reported at weighted 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 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
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 RELEASE.
Rover Critical Minerals (TSXV:ROVR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Rover Critical Minerals (TSXV:ROVR)
Historical Stock Chart
From Jul 2023 to Jul 2024