Fall 2020 Exploration Concludes at high-grade gold Cabin Lake Project
Rover Metals Corp. (TSXV: ROVR, OTCQB: ROVMF) announced the completion of its Fall 2020 drilling program at the Cabin Lake gold project. The program included nine diamond drill holes, successfully intersecting high-gold value zones in the Bugow iron formation. Notably, hole CL-20-08 exhibited over 40% sulfide content along significant intervals. The company plans to release assay results for the first three holes next week, with remaining assays expected in early November. Additionally, Rover will present its findings at the New Orleans Investor Conference on October 14, 2020.
- Successful completion of nine diamond drill holes at the Cabin Lake gold project.
- Hole CL-20-08 showed over 40% sulfide content, indicating high mineralization potential.
- Timely assay results are expected, with initial results released next week.
- None.
VANCOUVER, British Columbia, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (“Rover Metals” or the “Company”) further to its releases of September 15, 2020, September 21, 2020, and October 5, 2020, the Company has now concluded its fall drilling exploration program at its
Fall 2020 Cabin Lake Exploration Program
Rover Metals has now completed nine (9) diamond drill holes at the historic Cabin Lake Bugow iron formation gold zone. The Fall 2020 program achieved the Company’s goals of intersecting the sheared sulfidized upper contact of the Bugow iron formation that historically reported the high-gold values. Drilling with HQ core size was of great assistance in better identifying structures, cross-cutting relationships of different mineralizing stages, as well as alteration. The intent of this release is to discuss the logging of the last two holes of the program as well as to provide certain other updates.
Hole CL-20-08 was drilled oblique to both the iron formation and the inferred shear corridor. Hole CL-20-08 had the highest level of influence, of all nine holes, from the shear zones (see pictures/links below) by means of quartz flooding as parallel veinlets crosscutting bedding (sulfidized) of the Bugow iron formation. Sulfide content in hole CL-20-08 exceeds
Hole CL-20-08: Quartz veinlets part of the deformation corridor crosscutting bedding (sulfidized) of the Bugow IF
Hole CL-20-08: Intense sulfide replacement and quartz flooding in the target zone of the Bugow Iron Formation
Hole CL-20-08: Strong selective sulfide replacements of the Bugow Iron Formation, cross cut by quartz veinlets part of the deformation zone, also carrying sulfides (pyrite)
https://rovermetals.com/landingpages/cabinlake2020-3.html
Hole CL-20-09 tested a deep zone of the Bugow iron formation outside of the historic gold zone, targeting the historic hole 90-70 where an intersect of 7.99 g/t Au over 0.5m (from 154.5 to 155m) was reported. New hole CL-20-09 was directed at a shallow angle towards the iron formation aimed to get the biggest possible section of the shear corridor before, and in the iron formation, as well as reaching the target historic zone. Hole CL-20-09 was successful in intersecting the upper contact of the Bugow iron formation at 115.95m and continuously following it to 181m, with several sulfidized zones encountered (see picture/link below).
Hole CL-20-09: Coarse sulfide patch at 148.30m in hole CL-20-09 at the equivalent depth of target zone in historic hole 90-70
https://rovermetals.com/landingpages/cabinlake2020-4.html
Drilling Assays
The Company has been able to secure arrangements to receive timely assays of its samples from the nine holes drilled in the Fall 2020 Cabin Lake Exploration Program. The Company anticipates releasing the assays for its first three holes next week, and releasing the assays from the remainder of the program in early November.
October 14, 2020 New Orleans Investor Conference
The Company will be discussing the preliminary results of the Fall 2020 exploration program at the upcoming New Orleans Investor Conference. Please register for the virtual conference to book a one-on-one meeting with the Company’s CEO.
Judson Culter, CEO at Rover Metals, states “The New Orleans Investor Conference virtual booth will be hosted by myself and Raul Sanabria, the Company’s Technical Advisor for the recent drilling at Cabin Lake. We look forward to discussing the Company’s interpretation of the logging of the drill core as it relates to the historical gold mineral resource estimate in the Cabin Lake Bugow zone.”
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
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.
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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