VANCOUVER, British Columbia, May 31, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to provide an infrastructure update for its Cabin Gold Project and its Up Town Gold Project, located at the 60th parallel of the Northwest Territories of Canada.
NWT Infrastructure Initiatives The Government of Canada has moved one step closer to funding the expansion of the Taltson Hydro dam into the city of Yellowknife, NWT. In a recent interview with the CBC, the federal infrastructure minister provides an update on the project. One of the many benefits of bringing additional green power into the city of Yellowknife includes a more cost-effective source of power for the future mines being developed near the city. Green energy is also amongst the ESG initiatives that major gold producers are looking for when it comes to taking an interest in development-stage gold projects.
The expansion of the Taltson Hydro dam into the city of Yellowknife also has the potential to free up hydro at both the Strutt and Snare hydro facilities which are located close to Rover’s Cabin Gold, Slemon Gold, and Camp Gold Projects.
Mineral resource exploration, and the development of mines in the Northwest Territories, remains a priority of all levels of government (not just at the federal level). In 2021, Rover received two exploration grants from the territorial government to assist with advancing exploration at its Cabin Gold Project. Also in 2021, the federally funded Tlicho All Season Road (“TASR”) opened to the public. TASR connects the cities of Yellowknife and Hay River, via Highway NT3, to Rover’s Cabin Gold Project, Fortune Minerals’ NICO Project, and Nighthawk Gold’s Indin Lake Gold Project.
Collaboration between the government and the mining industry will continue to grow economic prospects for Northern Canada and will work towards the reinforcement of Canada’s northern sovereignty. As much of the world begins to look for more ethically sourced natural resources, companies like Rover Metals are investing heavily into exploration to build the mines of the future.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Canada%253BProvinces_and_territories_of_Canada%253BGovernment_of_Canada%253BNorthwest_Territories%253BGold%253BYellowknife%253BCompany%253BVancouver%253BExploration%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%25225be403c1-59e4-385c-9bc8-6c6aa5f27790%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Q1-2022 Financial Package Rover is pleased to report that it has SEDAR filed its March 31, 2022 Financial Statements and Management Discussion and Analysis (“MD&A”). The MD&A includes management’s milestone for the first three months of the year.
Grant of Stock Options The Company has granted 500,000 incentive stock options to a new consultant of the Company. The options have a five-year life, and an exercise price of $0.06 per share. The options have been granted from the Company’s 10% rolling stock option plan, approved by its shareholders at its August 2021 Annual General Meeting.
About Rover Metals Rover is a precious metals exploration company specialized in North American (Canada and U.S.) precious metal resources, which is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel), and north-central Nevada, USA. The Company owns five gold projects. Phase 3 Exploration at its Cabin Gold Project, 60th Parallel, NT, Canada, commenced in March 2022 and continues through to the date of this release. Phase 1 Exploration at its Tobin Gold Project commenced in May 2022 and continues through to the date of this release. Lastly, the Company, is also awaiting news from the Phase 2 Exploration Program at its Up Town Gold Project, in the Northwest Territories of Canada (60th parallel).
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
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.
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.
VANCOUVER, British Columbia, Jan. 13, 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. The focus of the Phase 2 Exploration Program was to discover and delineate new gold mineralized zones along the Bugow Iron Formation, the controlling structure for gold at the Cabin Gold Project. The Company is pleased to announce that its exploration program has been able to confirm and expand the historic gold grades at the Andrew South, Andrew Middle, and Andrew North Targets. The expansion includes an increase to the historical average gold grades reported across all of these historic targets. Rover has grouped the north, middle and south bounds of Andrew into a new single Andrew Zone, which extends 800 meters from south to north at surface. The map of the Bugow Iron Formation on the Company’s website has been updated to show the location of the new Andrew Zone. The south end of the Andrew Zone is situated roughly 500 meters northeast of the Beaver Zone. The Beaver Zone was featured in the Company’s December 7, 2021, release. The Company has now reported on the discovery of three medium-to-high grade mineralized gold zones at Cabin: the Arrow, Beaver, and Andrew Zones, all open at depth, and along strike.
Andrew Zone Expansion
Andrew South
The Company is reporting multiple near-surface medium-to-high grade gold at the newly defined Andrew Zone which extends 800 meters from south to north along the Bugow Iron Formation. Highlights of Phase 2 drilling at Andrew South include: new drill hole CL-21-21 which reported 2.9m of 5.09 g/t Au (from 70.65m to 76.8m), including 2.2m of 6.42 g/t Au and deeper in hole CL-21-21, reporting 4.7m of 3.38 g/t Au (from 88.80m to 94.00m). As of the date of this release, the Company has sent in additional samples for assaying from hole CL-21-21, as the gold mineralization is recognized to extend past the sulfide intervals of the drill core, which is a first for the project. The new assays, once received, will be part of a future updating release, and could extend the reported high-grade gold intervals at the southern part of Andrew. Additional highlights at Andrew include: new hole CL-21-24 which reported 3.9m of 2.91 g/t Au (from 51.00m to 55.12m); new hole CL-21-19 which reported 3.1m of 2.57 g/t Au (from 62.2m to 65.3m) and deeper in hole CL-21-19 reporting 1m of 2.06 g/t Au (from 93.3m to 94.3m); new hole CL-21-20 which reported 0.4m of 6.11 g/t Au (from 90.8m to 91.2m); and new hole CL-21-25 which reported 2.3m of 2.61 g/t Au (from 68.0m to 70.5m). As noted below, in the drill result tables, there are multiple well mineralized drill intercepts at the south part of the Andrew Zone that are reported in additional new holes (see CL-21-22, CL-21-22, CL-21-23 in the tables below). As of the date of this release, the Company has also sent additional samples from hole CL-21-25 to the lab for assaying.
Andrew North Highlights from drilling at the northern part of the Andrew Zone include new hole CL-21-27 which reported 4.3m of 4.14 g/t Au (from 17.8m to 22.8m); new hole CL-21-29 which reported 3.0m of 3.2 g/t Au (from 37.6m to 40.8m) and multiple additional medium-to-high grade gold intercepts at deeper depth from this same hole, as reported in the drill result tables below. As of the date of this release, the Company has sent additional samples to the lab from hole CL-21-29. Additional highlights include new hole CL-21-28 which reported 3.2m of 1.19 g/t Au (from 38.8m to 42.8m).
The results, both confirm and expand upon, 1980s historical drilling at Andrew, and have returned higher grades than historical results. The historical drill holes and new holes from Andrew South and Andrew North can be referenced in the drill plan views below. A table of significant Andrew Zone drill assay results, greater than 0.5 g/t Au, listed by hole and interval, can be found near the end of this release. For purposes of the calculations of the highlighted intervals in this release, Rover considers results above 0.50 g/t Au to be of significance.
The Company’s working hypothesis is that the near surface Andrew Zone extends 800 meters, from south to north. There was significant drilling along the middle of the Andrew Zone in the 1940s. Unfortunately, none of the historical drill records have survived. The Company tested its hypothesis during its Phase 2 Exploration Program, by drilling two drill holes in the centre of the Andrew Zone. As of the date of this release, the Company has sent additional samples from both hole CL-21-30 and CL-21-31 to the lab for assaying as the gold mineralization is recognized to extend past the sulphide intervals in the drill core. The results from Andrew middle will form part of an updating release.
Judson Culter, CEO at Rover Metals, states “We are very pleased to have made the discovery of a third significant zone at the Cabin Gold project. In total, there is over 1,000 meters of surface strike length, that is open along strike (Beaver) and at depth (Arrow, Beaver and Andrew), across all defined zones on the project (Arrow, Beaver and Andrew). We expect the 2022 Phase 3 Exploration Program at the Cabin Gold project to focus on the highest grade gold areas of these zones.”
Tables of Significant Drill Results
Hole
Easting
Northing
Elev
Total Depth
Dip
Azimuth
Zone
CL-21-19
559,189.00
7,006,213.00
181.7
100
-45
230
Andrew South
CL-21-20
559,189.00
7,006,213.00
181.7
152
-60
230
Andrew South
CL-21-21
559,189.00
7,006,213.00
181.7
130
-45
190
Andrew South
CL-21-22
559,170.00
7,006,165.00
181.7
104
-45
190
Andrew South
CL-21-23
559,170.00
7,006,165.00
181.7
53
-45
230
Andrew South
CL-21-24
559,170.00
7,006,165.00
181.7
59
-65
230
Andrew South
CL-21-25
559,202.00
7,006,198.00
181.5
101
-45
220
Andrew South
CL-21-26
558,606.00
7,006,655.00
188.8
47
-45
85
Andrew North
CL-21-29
558,606.00
7,006,655.00
188.8
50
-50
10
Andrew North
CL-21-27
558,606.00
7,006,655.00
188.8
34
-45
55
Andrew North
CL-21-28
558,606.00
7,006,655.00
188.8
47
-60
55
Andrew North
CL-21-30
558,999.00
7,006,228.00
185.5
47
-45
220
Andrew Middle
CL-21-31
558,999.00
7,006,228.00
185.5
26
-45
260
Andrew Middle
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-19
V748041
62.20
62.76
0.56
6.24
Andrew South
CL-21-19
V748042
62.76
63.00
0.24
1.1
Andrew South
CL-21-19
V748043
63.00
63.29
0.29
0.88
Andrew South
CL-21-19
V748044
63.29
63.59
0.3
1.96
Andrew South
CL-21-19
V748045
63.59
64.00
0.41
4.19
Andrew South
CL-21-19
V748046
64.00
64.35
0.35
2.73
Andrew South
CL-21-19
V748047
64.35
64.68
0.33
0.37
Andrew South
CL-21-19
V748048
64.68
64.98
0.3
0.94
Andrew South
CL-21-19
V748049
64.98
65.32
0.34
1.02
Andrew South
CL-21-19
V748058
93.32
93.64
0.32
0.71
Andrew South
CL-21-19
V748059
93.64
94.00
0.36
3.67
Andrew South
CL-21-19
V748060
94.00
94.3
0.30
1.56
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-20
V748067
90.86
91.26
0.4
6.11
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-21
V748071
70.65
70.98
0.33
0.76
Andrew South
CL-21-21
V748072
70.98
71.3
0.32
0.35
Andrew South
CL-21-21
V748073
71.3
71.61
0.31
6.98
Andrew South
CL-21-21
V748074
71.61
72.03
0.42
3.89
Andrew South
CL-21-21
V748075
75.31
75.61
0.30
17.6
Andrew South
CL-21-21
V748076
75.61
76.00
0.39
10.4
Andrew South
CL-21-21
V748077
76.00
76.42
0.42
2.23
Andrew South
CL-21-21
V748078
76.42
76.8
0.38
0.48
Andrew South
CL-21-21
V748087
92.23
92.93
0.70
2.78
Andrew South
CL-21-21
V748088
92.93
93.33
0.40
1.77
Andrew South
CL-21-21
V748089
93.33
94.00
0.67
2.67
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-22
V748090
42.4
42.88
0.48
0.84
Andrew South
CL-21-22
V748091
42.88
43.18
0.3
0.39
Andrew South
CL-21-22
V748092
43.18
43.61
0.43
1.16
Andrew South
CL-21-22
V748093
43.61
44.10
0.49
1.43
Andrew South
CL-21-22
V748094
44.10
44.40
0.30
0.95
Andrew South
CL-21-22
V748095
44.40
44.67
0.27
1.8
Andrew South
CL-21-22
V748096
44.67
45.01
0.34
0.57
Andrew South
CL-21-22
V748097
45.01
45.36
0.35
1.94
Andrew South
CL-21-22
V748098
45.36
45.71
0.35
0.43
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-23
V748117
41.98
42.44
0.46
0.89
Andrew South
CL-21-23
V748118
42.44
42.75
0.31
0.52
Andrew South
CL-21-23
V748119
42.75
43.15
0.40
0.80
Andrew South
CL-21-23
V748120
43.15
43.90
0.75
1.05
Andrew South
CL-21-23
V748121
43.90
44.30
0.40
1.88
Andrew South
CL-21-23
V748123
44.30
44.62
0.32
0.52
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-24
V748102
51.00
51.50
0.50
2.77
Andrew South
CL-21-24
V748103
51.50
52.01
0.51
0.15
Andrew South
CL-21-24
V748104
52.01
52.76
0.75
1.57
Andrew South
CL-21-24
V748105
52.76
53.10
0.34
3.63
Andrew South
CL-21-24
V748106
53.10
53.41
0.31
5.16
Andrew South
CL-21-24
V748107
53.41
53.80
0.39
1.79
Andrew South
CL-21-24
V748108
53.80
54.20
0.40
3.57
Andrew South
CL-21-24
V748109
54.45
54.77
0.32
6.11
Andrew South
CL-21-24
V748110
54.77
55.12
0.35
4.93
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-25
V748125
53.00
53.45
0.45
1.64
Andrew South
CL-21-25
V748126
63.95
64.25
0.30
0.73
Andrew South
CL-21-25
V748127
65.42
65.88
0.46
1.72
Andrew South
CL-21-25
V748128
65.88
66.18
0.30
0.22
Andrew South
CL-21-25
V748129
66.18
66.58
0.40
2.16
Andrew South
CL-21-25
V748130
67.09
67.39
0.30
4.01
Andrew South
CL-21-25
V748131
67.39
67.76
0.37
0.41
Andrew South
CL-21-25
V748132
68
68.35
0.35
0.50
Andrew South
CL-21-25
V748133
68.35
68.68
0.33
0.64
Andrew South
CL-21-25
V748134
68.68
68.98
0.30
1.59
Andrew South
CL-21-25
V748135
68.98
69.68
0.70
4.27
Andrew South
CL-21-25
V748136
69.82
70.12
0.30
1.07
Andrew South
CL-21-25
V748137
70.12
70.46
0.34
5.55
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-26
V748185
28.0
28.8
0.80
1.85
Andrew North
CL-21-26
V748186
28.8
29.47
0.67
0.52
Andrew North
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-27
V748139
17.83
18.20
0.37
0.57
Andrew North
CL-21-27
V748140
18.2
18.52
0.32
6.32
Andrew North
CL-21-27
V748141
18.52
18.83
0.31
2.44
Andrew North
CL-21-27
V748142
18.83
19.11
0.28
9.2
Andrew North
CL-21-27
V748143
19.11
19.47
0.36
4.1
Andrew North
CL-21-27
V748144
19.47
19.79
0.32
1.64
Andrew North
CL-21-27
V748145
20.00
20.33
0.33
1.06
Andrew North
CL-21-27
V748146
20.33
20.75
0.42
14.65
Andrew North
CL-21-27
V748147
20.75
21.03
0.28
1.81
Andrew North
CL-21-27
V748148
21.25
21.61
0.36
0.78
Andrew North
CL-21-27
V748149
21.92
22.40
0.48
3.48
Andrew North
CL-21-27
V748150
22.40
22.84
0.44
2.64
Andrew North
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-28
V748176
38.81
39.25
0.44
0.93
Andrew North
CL-21-28
V748177
39.25
39.82
0.57
0.27
Andrew North
CL-21-28
V748178
40.60
41.00
0.40
2.97
Andrew North
CL-21-28
V748179
41.00
41.59
0.59
1.05
Andrew North
CL-21-28
V748180
41.59
41.97
0.38
0.31
Andrew North
CL-21-28
V748181
41.97
42.36
0.39
2.63
Andrew North
CL-21-28
V748182
42.36
42.79
0.43
0.71
Andrew North
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-29
V748153
37.60
38.00
0.40
2.72
Andrew North
CL-21-29
V748154
38.00
38.40
0.40
4.75
Andrew North
CL-21-29
V748155
38.4
38.70
0.30
1.18
Andrew North
CL-21-29
V748156
38.70
39.10
0.40
4.83
Andrew North
CL-21-29
V748158
39.37
39.71
0.34
1.31
Andrew North
CL-21-29
V748159
39.71
40.09
0.38
5.61
Andrew North
CL-21-29
V748160
40.09
40.39
0.30
4.43
Andrew North
CL-21-29
V748161
40.39
40.82
0.43
0.60
Andrew North
CL-21-29
V748162
41.70
42.01
0.31
1.48
Andrew North
CL-21-29
V748165
42.97
43.37
0.40
0.92
Andrew North
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.
Stock Option Grant to Advisor The Company has made a stock option grant of 350,000 stock options to Robert Schafer, an advisor to the Company. The stock options have an exercise price of $0.06, vest monthly over 12 months, and have a four-year useful life. Mr. Schafer has nearly 40 years of experience in the mineral industry, working in the international sector with both major and junior mining companies. He is founder and Managing Director of Eagle Mines Management, a globally active private natural resources corporation. He has held executive and senior management positions with Hunter Dickinson Inc., Kinross Gold Corp., and BHP Minerals over the past 20 years. Throughout his career Mr. Schafer has worked internationally, with notable experience in the far east of Russia, Southern Africa, South America and Australia.
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 the analysis and reporting of the Phase 2 Exploration work at Cabin Gold continues through to the date of this release.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
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.
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.
