Rover Metals Announces Phase 2 Exploration Drilling to Commence at Up Town Gold Project, NWT, Canada
September 14 2021 - 9:00AM
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 ProgramThe 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.
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:
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https://www.linkedin.com/company/rover-metals/
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and
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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.comPhone: +1 (778) 754-2617
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Information
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