The Conversation (0)
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.
Drill Plan View – Andrew Zone (South)
https://www.globenewswire.com/NewsRoom/AttachmentNg/5471528e-1877-4826-a79f-6bcb67ff9103
CL-21-19/20 Cross Sections
CL-21-21/22 Cross Sections
CL-21-23/24/25 Cross Sections
Drill Plan View – Andrew Zone (North)
https://www.globenewswire.com/NewsRoom/AttachmentNg/89c4e560-a35e-4444-9045-a3dbe0be5329
CL-21-26 Cross Section
CL-21-27/28 Cross Sections
CL-21-29 Cross Section
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 (60 th 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.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/
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.
