Rover Drills 32 Meters of Continuous Gold Averaging 13.6 grams per ton at Cabin Lake project, NWT Canada

Rover Metals Corp.
·18-min read

VANCOUVER, British Columbia, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (“Rover Metals” or the “Company”) further to its release of October 26, 2020, Rover Metals is pleased to announce that all fire assays from its summer-fall 2020 exploration program at Cabin Lake have now been received.

Summer-Fall 2020 Cabin Lake Exploration Program
Nine diamond drill holes were completed at the 100% owned Cabin Lake Gold Project in early October 2020. The drill program was designed to confirm and hopefully expand the historic high-grade gold intersects at the southern Bugow zone, in both a parallel direction to historic holes (twinned holes) and oblique to the historic azimuths. Oblique holes were proposed to test the possible influence of a regional deformation corridor, intersecting the Bugow Iron formation, and responsible for gold deposition, therefore providing a better understanding of the structural and mineralizing controls, and to try to reproduce these mineralized zones (shoots) in other sectors of the property where the Bugow Iron Formation is intersected and the same conditions repeat. The October 26, 2020 release discussed the results from holes CL-20-01 and CL-20-03. This release discusses (1) the drill program as a whole (all results); (2) the significance of the new, previously unreleased holes, as they relate to both the historical holes and the new intersection of hole CL-20-01 (discovery of a potential ore body); and (3) an amendment to length and average grades of previously released CL-20-03 (to slightly shorten the interval reported to adjust for economic grades). See Table 1 below for a summary of assay highlights.

Drill hole CL-20-01 was drilled oblique (45 degrees to bedding) to historic drill hole 86-28 in an attempt to confirm the historic high-grade intersect (14.98 g/t Au continuous average over 12.1m) and also to test the influence of shearing affecting the Bugow Iron formation in both sulfidization and gold deposition. Hole CL-20-01 intersected the amphibolitic iron formation at a depth of 24.29m, where the upper contact appears sheared, deformed and intensely sulfidized. The iron formation is also flooded with quartz veining, likely related to a deformation/shearing event, and more than probable, related to the gold mineralization. Later narrow pegmatite bodies intrude both the host rock and the mineralized zones, thus explaining the dilutive low to nil gold values between high-grade gold intervals. The continuous long gold mineralized interval extends from 24.63m to 46.64m for a total of 22.0m averaging 7.94 gpt Au (all averages reported in this release are weighted). The 22.0 meter interval includes 2.78m averaging 18.50g/t Au. See Hole C-20-08, as well as Figure 1 – Drill Plan View, below below for discussion of the intersection between holes CL20-01 and CL-20-08.

Drill hole CL-20-03 was planned with the intent of validating and verifying both of the historic intersects of holes 86-10 and 86-11, as well as to intersect the historic Bugow Iron formation in between these historic holes after applying deviation corrections in the historic database. Hole CL-20-03 intersected a long interval of continuous gold mineralization from the upper sheared contact of the historic Bugow Iron formation at a depth of 41.199m to 54.84m, for a total of 13.7m averaging 6.97 g/t Au. The 13.7m intersect has a larger sub interval of continuous gold mineralization of 11.5m averaging 7.96 g/t Au.

Drill hole CL-20-05 was drilled oblique (45 degrees to bedding) to historic drill hole 86-26, and at a similar orientation to new hole CL-20-01 in an attempt to confirm the historic high-grade intersect 12.54 g/t Au over 4.1m and also to test the influence of shearing affecting the Bugow iron formation in both sulfidization and gold deposition. New hole CL-20-05 intersected the sheared and sulphidized amphibolitic iron formation at a depth of 45.53m. The continuous gold mineralized interval extends from 45.53m to 55.2m for a total of 9.67m with a weighted average of 4.15 g/t Au. The 9.67m interval includes a higher-grade interval of 8.97 g/t Au over 3.11m (from 45.53m to 48.64m).

Drill hole CL-20-06 was drilled along strike of CL-20-03. This hole was collared on section to intersect with historic holes 86-29 and 86-24, both of which had returned poor to nil historic gold assays. New hole CL-20-06 was a success and a new discovery. It was drilled closer to surface than the historic hole and intersected a silicified and sheared sulphidic iron formation from 13.01m to 20.5m that graded a continuous average of 7.55 g/t Au over 7.49m. The 7.49m interval included 9.98 g/t over 5.57m (13.1m to 18.6m), and 13.78 g/t over 2.82m (13.1m to 15.9m). The 7.49m intersection is significant because it shows that there are significant mineralized gold shoots that were missed during the historic drill campaigns, and it supports the new hypothesis that the high grade gold at the Bugow zone occurs closer to surface then previously interpreted.

Drill hole CL-20-07 stepped-out to the south of new hole CL-20-06 and intersected and confirmed gold values drilled in historic hole 86-14. A variably silicified and sheared iron formation was intersected from 28.0m to 52.93m. New hole CL-20-07 returned higher grades than historically reported bringing an continuous average interval of 7.05 g/t Au over 4.98m (from 28.6m to 33.6m).

Drill hole CL-20-08 suggests the potential discovery of continuous high-grade gold ore body (see “Figure 1 – Drill Plan View” below). New hole CL-20-08 was drilled oblique to historic drill holes 86-12 (15.77 g/t over 8.02m) and targeted the shear zone intersected by new hole CL-20-01 (see above). CL-20-08 intersected gold mineralized iron formation at a depth of 18.04m. The continuous gold mineralized interval extends from 18.04m to 32m averaging 13.66 g/t Au over 31.9m. The 31.9m interval includes 29.9m of continuous 14.45 g/t gold. Hole CL-20-08 supports the interpretation that gold mineralization associated with shearing in the iron formation is continuous between the section collared at CL-20-01 and CL-20-08, and boosts the overall average of continuous gold intersected by CL-20-01.

Drill holes CL-20-02, CL-20-04, and CL-20-09 did not return significant gold values. However, these drill holes continued through the iron formation and are helping to provide a better understanding of the structures that control the gold mineralization reported above.

Figure 1 – Drill Plan View

Judson Culter, CEO at Rover Metals, states we are excited to get back to drilling at Cabin Lake, and the above featured Bugow zone, as soon as Q1-2020. Our preliminary geological modelling suggests that theDDH 86-28 to CL-20-01 to CL-20-08 to DDH86-19 quadrant at Bugow is a conceptual high-grade ore body that needs to be drill tested at depth. The continuity of gold mineralization in Holes CL-20-01 and CL-20-08 shows us that gold is associated with sheared intervals of the iron formation and is not stratiform to bedding. The Summer 2020 drill confirmation of our exploration approach generates new targets not only within the Bugow zone, but also within the other historic showings on the property (the Beaver Zone, Andrew South Zone, and the Andrew North zone). We also now have opened the door to several greenfields targets on the project.

Rover’s technical team, led by Raul Sanabria, will continue to work on updates to the company’s website in the coming days. Updates will include more technical cross-sections and 3D modelling of all drill results at the Bugow zone to date. The Company intends to share the assay certificates and the raw drill data on its website as well, along with geological comparables for Northwest Territories archean load gold deposits that have statistically had a one-to-eight horizontal-to-vertical ratio for mineralization at depth.

Table 1. Summary of Assay Results


CL-20-01

From(m)

To(m)

Interval(m)

Sample ID

Au ppm

24.63

24.93

0.30

V745603

1.45

24.93

25.40

0.47

V745604

5.38

25.40

25.90

0.50

V745606

11.50

25.90

26.27

0.37

V745607

16.20

26.27

26.71

0.44

V745608

1.88

26.71

27.38

0.67

V745609

3.18

27.38

28.00

0.62

V745610

0.05

28.00

29.01

1.01

V745611

2.54

29.01

29.31

0.30

V745612

11.40

29.31

29.35

0.04

V745613

8.36

29.35

29.76

0.41

V745614

5.75

29.76

30.40

0.64

V745615

5.21

30.40

30.90

0.50

V745616

5.06

30.90

31.35

0.45

V745618

20.50

31.35

31.88

0.53

V745619

11.30

31.88

32.46

0.58

V745620

9.40

32.46

32.59

0.13

V745621

0.65

32.59

32.87

0.28

V745622

2.26

32.87

34.00

1.13

V745623

10.20

34.00

34.40

0.40

V745624

12.80

34.40

34.90

0.50

V745625

4.52

34.90

35.43

0.53

V745626

4.86

35.43

35.93

0.50

V745627

4.32

35.93

36.43

0.50

V745629

1.18

36.43

37.00

0.57

V745630

3.55

37.00

37.50

0.50

V745631

13.60

37.50

38.04

0.54

V745632

13.20

38.04

38.54

0.50

V745633

9.56

38.54

39.04

0.50

V745634

6.51

39.04

39.65

0.61

V745635

4.83

39.65

40.10

0.45

V745636

3.88

40.10

40.70

0.60

V745638

6.58

40.70

41.20

0.50

V745639

4.81

41.20

41.70

0.50

V745640

7.14

41.70

42.20

0.50

V745641

12.40

42.20

42.70

0.50

V745642

18.70

42.70

43.05

0.35

V745643

27.30

43.05

43.28

0.23

V745644

1.35

43.28

43.86

0.58

V745645

20.80

43.86

44.48

0.62

V745646

22.50

44.48

44.89

0.41

V745647

0.55

44.89

45.72

0.83

V745648

4.55

45.72

46.24

0.52

V745649

3.65

46.24

46.64

0.40

V745650

2.19


CL-20-03

From(m)

To(m)

Interval(m)

Sample ID

Au ppm

41.19

42.06

0.87

V745769

1.29

42.06

42.53

0.47

V745770

4.72

42.53

43.00

0.47

V745771

23.6

43.00

43.46

0.46

V745772

11.6

43.46

43.99

0.53

V745773

3.35

43.99

44.35

0.36

V745774

3.06

44.35

44.97

0.62

V745775

1.72

44.97

45.44

0.47

V745776

2.12

45.44

45.95

0.51

V745777

4.99

45.95

46.48

0.53

V745778

8.41

46.48

46.94

0.46

V745779

23.3

46.94

47.44

0.50

V745781

23.5

47.44

47.97

0.53

V745782

5.45

47.97

48.57

0.60

V745783

18.1

48.57

49.00

0.43

V745784

16.9

49.00

49.65

0.65

V745785

10.8

49.65

49.95

0.30

V745786

5.13

49.95

50.45

0.50

V745787

3.86

50.45

50.95

0.50

V745788

0.086

50.95

51.45

0.50

V745789

0.048

51.45

52.10

0.65

V745790

0.64

52.10

52.60

0.50

V745791

6.28

52.60

53.07

0.47

V745792

1.82

53.07

53.55

0.48

V745794

5.1

53.55

54.50

0.95

V745795

1.83

54.50

54.84

0.34

V745796

2.32



CL-20-05

From(m)

To(m)

Interval(m)

Sample ID

Au ppm

45.53

46.22

0.69

Y030060

31.50

46.22

46.68

0.46

Y030061

0.08

46.68

47.18

0.50

Y030063

1.18

47.18

47.76

0.58

Y030064

1.84

47.76

48.18

0.42

Y030065

5.04

48.18

48.64

0.46

Y030066

5.09

48.64

49.08

0.44

Y030067

0.19

49.08

49.64

0.56

Y030068

0.67

49.64

50.24

0.60

Y030069

0.40

50.24

50.74

0.50

Y030104

0.95

50.74

51.34

0.60

Y030105

0.73

51.34

51.84

0.50

Y030106

1.85

51.84

52.37

0.53

Y030070

2.87

52.37

52.87

0.50

Y030071

0.37

52.87

53.17

0.30

Y030072

0.32

53.17

54.00

0.83

Y030073

1.40

54.00

54.49

0.49

Y030074

5.99

54.49

54.70

0.21

Y030075

0.50

54.70

55.20

0.50

Y030076

7.36


CL-20-06

From (m)

To (m)

Interval(m)

Sample ID

Au ppm

13.05

13.55

0.50

Y031107

16.90

13.55

13.85

0.30

Y031109

43.40

13.85

14.25

0.40

Y031110

2.42

14.25

15.00

0.75

Y031111

4.01

15.00

15.24

0.24

Y031112

14.50

15.24

15.54

0.30

Y031113

6.92

15.54

15.87

0.33

Y031114

23.80

15.87

16.40

0.53

Y031116

1.49

16.40

16.85

0.45

Y031117

1.87

16.85

17.64

0.79

Y031118

5.13

17.64

18.14

0.50

Y031119

16.20

18.14

18.62

0.48

Y031120

6.15

18.62

19.00

0.38

Y031121

0.67


CL-20-07

From(m)

To(m)

Interval(m)

Sample ID

Au ppm

28.60

29.14

0.54

Y031132

8.08

29.14

29.64

0.50

Y031133

30.70

29.64

30.14

0.50

Y031135

2.25

30.14

31.15

1.01

Y031136

2.26

31.15

32.17

1.02

Y031137

0.12

32.17

32.96

0.79

Y031138

8.64

32.96

33.58

0.62

Y031139

8.11


CL-20-08

From(m)

To(m)

Interval(m)

Sample ID

Au ppm

17.49

18.04

0.55

Y031167

2.58

18.04

18.57

0.53

Y031169

26.90

18.57

19.30

0.73

Y031170

13.60

19.30

19.94

0.64

Y031172

6.54

19.94

20.60

0.66

Y031173

18.20

20.60

20.90

0.30

Y031174

25.10

20.90

21.53

0.63

Y031175

28.00

21.53

22.00

0.47

Y031176

25.50

22.00

22.50

0.50

Y031177

20.80

22.50

22.94

0.44

Y031178

13.50

22.94

23.58

0.64

Y031180

7.44

23.58

23.88

0.30

Y031181

37.90

23.88

24.60

0.72

Y031182

13.20

24.60

25.00

0.40

Y031183

11.60

25.00

25.48

0.48

Y031184

31.10

25.48

25.81

0.33

Y031185

26.30

25.81

26.31

0.50

Y031186

17.00

26.31

26.84

0.53

Y031187

3.84

26.84

27.36

0.52

Y031188

5.14

27.36

28.10

0.74

Y031189

7.25

28.10

28.55

0.45

Y031190

11.60

28.55

29.09

0.54

Y031191

4.92

29.09

29.72

0.63

Y031192

12.10

29.72

30.38

0.66

Y031194

18.60

30.38

30.93

0.55

Y031195

14.70

CL-20-08 (continued)

From(m)

To(m)

Interval(m)

Sample ID

Au ppm

30.93

31.49

0.56

Y031196

8.36

31.49

32.01

0.52

Y031197

27.50

32.01

32.51

0.50

Y031198

20.60

32.51

33.00

0.49

Y031200

16.30

33.00

33.53

0.53

Y031501

2.46

33.53

34.13

0.60

Y031502

0.83

34.13

34.53

0.40

Y031503

1.52

34.53

35.06

0.53

Y031504

16.50

35.06

35.56

0.50

Y031505

21.40

35.56

36.00

0.44

Y031506

11.00

36.00

36.58

0.58

Y031507

15.20

36.58

37.22

0.64

Y031510

13.80

37.22

37.76

0.54

Y031511

5.45

37.76

38.48

0.72

Y031512

4.13

38.48

39.05

0.57

Y031513

9.00

39.05

39.65

0.60

Y031514

12.50

39.65

40.00

0.35

Y031515

9.50

40.00

40.50

0.50

Y031516

26.30

40.50

41.04

0.54

Y031517

19.30

41.04

41.50

0.46

Y031518

22.00

41.50

42.10

0.60

Y031519

11.80

42.10

43.15

1.05

Y031520

2.25

43.15

43.60

0.45

Y031521

0.35

43.60

44.02

0.42

Y031522

6.89

44.02

44.65

0.63

Y031523

20.70

44.65

45.17

0.52

Y031524

17.90

45.17

45.75

0.58

Y031526

21.90

45.75

46.23

0.48

Y031527

20.00

46.23

46.73

0.50

Y031528

6.29

46.73

47.29

0.56

Y031529

31.90

47.29

47.93

0.64

Y031530

22.40

47.93

48.45

0.52

Y031531

1.81

48.45

48.90

0.45

Y031532

1.94

Technical Information

Drill core is cut with half sent to AGAT Laboratories Inc. (AGAT) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). AGAT is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample.

True thicknesses of the intervals reported herein reported have not been calculated, therefore, all intervals are reported as drill core intervals and should be considered apparent thicknesses. All historic and 2020 program gold grade averages are reported at weighted averages.

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 Metals is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects.

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Website: https://www.rovermetals.com/

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

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