Map of IP Survey at Cabin Gold Project
Map of IP Survey at Cabin Gold Project
VANCOUVER, British Columbia, Jan. 25, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4XO) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, Canada. In Q4-2021, Rover tested a ground induced polarized survey (“IP Survey”) over proven high-grade gold zones on the property. The test results indicated a positive correlation between IP Survey chargeability and the sulfide content in the Bugow Iron Formation. High-grade gold at Cabin is associated with elevated-sulfide concentration. The Company followed up the successful test survey, with an extensive ground IP Survey that covered the Beaver Zone, Andrew Zone, and the Camp Target. The Company is pleased to announce that one of the highlights of the IP Survey is a large anomaly that appears to extend the Beaver Zone 200 meters to the southeast (of the final drill hole of the 2021 drill program, CL-21-40), trending towards the high-grade Arrow Zone. On December 7, 2021 the Company released the results of its drilling at the Beaver Zone. Highlights from drilling at the Beaver Zone included 6.4 meters of 4.63 g/t Au (from 42.6m to 49.0m), including 2.6 meters of 7.80 g/t Au. Highlights of 2020 drilling at the Arrow Zone included 32 meters of 13.6 g/t Au.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/af8677ef-97f9-4af4-ae36-0b658b890081
IP Survey Comprehensive Results
The Company is also pleased to be reporting on the discovery of three prominent IP anomalies: (1) the aforementioned Beaver Zone; (2) the Andrew South IP Target, and (3) the Camp IP Target. The dipole-dipole IP Survey comprised 25m station spacing along lines spaced 25 meters apart, with a 40m depth slice of chargeability.
Beaver Zone IP Anomaly
The IP anomaly extending 200 meters to the southeast of drill hole CL-21-40 has never been drilled historically and provides exciting blue sky discovery potential to the project.
Andrew South IP Anomaly
The Andrew South IP anomaly is located approximately 350 meters northeast of the Beaver Zone, close to the southern tip of the Andrew Zone. The IP anomaly appears to indicate the discovery of a new mineralized limb of the Bugow Iron Formation, and a new chargeable zone along that limb, trending from southeast to northwest parallel to both the Beaver Zone and the Andrew Zone. The Andrew South IP Anomaly has never been drilled historically and is another example of blue sky discovery potential at the project.
Camp IP Anomaly
The historic Camp area exists along the primary limb of the Bugow Iron Formation, to the northwest of the Beaver Zone. This new IP anomaly has never been drilled historically, and again provides exciting blue sky discovery potential to the project.
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.
Judson Culter, CEO at Rover Metals, states “we’re thrilled to have made the discovery of three new large IP anomalies at the Cabin Gold project. We’re hoping to test these new targets as part of our Phase 3 Exploration Program planned for Q1 of this year. None of these targets have been drilled historically. The possible extension of the Beaver Zone 200 meters to the southeast, presents us with an opportunity for another high-grade gold discovery.”
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 Q3-2021, and the analysis and reporting of the Phase 2 Exploration work at Cabin Gold continues through to the date of this release.
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Chief Executive Officer and Director
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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 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.
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