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The results from the Geochemical Survey, even at the ultra-trace level, reveal strong coincident gold anomalies around and on known historic gold mineralization areas, particularly over the Camp and Andrew South Zones. The survey also shows a new additional well-defined anomalous zone in the south-east zone of the property.
The interpretation of the results from field reconnaissance, the magnetic survey and the preliminary soil sampling analysis supports the hypothesis of a gold bearing system in the form of a shear corridor intersecting a series of folded iron formations, with gold preferentially being deposited within sulphidized sections of the iron formations in such zones. Rover Metals’ interpretation supported by the new gold in-soil anomalies, also supports the hypothesis that there is a much more extensive gold system than initially discovered by Aber Resources’ historic exploration drilling in the late 1980’s which only focused on one folded section of the Bugow Iron Formation. Rover Metals has identified repetitive targets within these northeast-southeast shear corridors. The Company believes the Cabin Lake system is similar in kind and style to the historic Lupin Gold Mine in Nunavut, Canada, and to some extent to the Musselwhite Gold Mine in Ontario, Canada.
Keith Minty, President of Rover Metals, states “We just tested our initial thesis on the shear zones and Iron Formation intersections within the Cabin Lake property and the correlations exceed our expectations in defining a new gold anomaly in a previously untested area. We are continuing to analyse the data from Fall 2018 Exploration Program. In the future, we plan to use the same geochemistry testing protocols on the remaining areas of the Cabin Lake Group Project (i.e. inclusive of the Camp Lake and Slemon Lake claims) to identify and further expand the known gold anomalies.”
About the Geochemistry Survey
The program consisted of 485 samples covering an area of approximately 1,150 meters x 600 meters (69 hectares) following lines north-south oriented and spaced 50 meters between each other. Sample stations were placed every 25 meters within the lines. Samples were taken using auger tools below the topsoil wherever possible. Even though the region is known to be locally covered with glacial till, the surveyed area was selected by its outcrop exposures on known mineralized zones for comparison and reference over other possible zones within the property boundaries.
The Geochemistry Survey also reveal coincident anomalies of pathfinder elements to this style of gold mineralization such as Arsenic, Sulphur (%) and Copper on top of the magnetic anomalies following the Bugow Iron formation.
Aurora Geosciences Ltd. from Yellowknife, NT, Canada, was commissioned to perform the geophysical and geochemical work. Soil samples were collected under the direct supervision of Raul Sanabria, P.Geo,, VP of Exploration at Rover Metals and Company project QP, following a tight chain of custody from the collection site to ALS preparation facility in Yellowknife, NT. Assays were performed at ALS Laboratories in Vancouver, British Columbia. Certified blank and standard samples were inserted at regular batch intervals for accuracy and verification.
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.
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.
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Proven Probable
