Rover Provides Update on Timing of Phase 2 Exploration Results at Cabin Gold Project, NT, Canada
November 11 2021 - 9:00AM
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 ProjectIn
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 MetalsRover 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.comPhone: +1 (778) 754-2617
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 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.
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