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VANCOUVER, Oct. 29, 2018 /CNW/ - Rover Metals Corp.
(TSXV: ROVR) ("Rover Metals" or the "Company") is
pleased to announce results of its soil geochemical survey on its
100% owned Cabin Lake Gold Project, NT, Canada.
Rover Metals' Fall 2018 Exploration Program at its Cabin Lake
Gold Project has focused on revisiting the historic gold zone
occurrences over the gold-rich iron formation to better understand
the system, geology, structure and mineralization. The Fall 2018
Exploration Program has combined a detailed Total Magnetic Field
UAS Survey with a Soil Geochemistry Survey. The second phase of the
Cabin Lake Gold Project exploration program will consist of diamond
drilling scheduled for the upcoming winter months.
The results from the Geochemical Survey, even at the ultra-trace
level, reveal strong coincident gold anomalies around and on known
historic gold mineralization areas, particularly over the Camp and
Andrew South Zones. The survey also shows a new additional
well-defined anomalous zone in the south-east zone of the
property.
The interpretation of the results from field reconnaissance, the
magnetic survey and the preliminary soil sampling analysis supports
the hypothesis of a gold bearing system in the form of a shear
corridor intersecting a series of folded iron formations, with gold
preferentially being deposited within sulphidized sections of the
iron formations in such zones. Rover Metals' interpretation
supported by the new gold in-soil anomalies, also supports the
hypothesis that there is a much more extensive gold system than
initially discovered by Aber Resources' historic exploration
drilling in the late 1980's which only focused on one folded
section of the Bugow Iron Formation. Rover Metals has identified
repetitive targets within these northeast-southeast shear
corridors. The Company believes the Cabin Lake system is similar in
kind and style to the historic Lupin Gold Mine in Nunavut, Canada, and to some extent to the
Musselwhite Gold Mine in Ontario,
Canada.
Keith Minty, President of
Rover Metals, states "We just tested our initial thesis on
the shear zones and Iron Formation intersections within the Cabin
Lake property and the correlations exceed our expectations in
defining a new gold anomaly in a previously untested area. We are
continuing to analyse the data from Fall 2018 Exploration Program.
In the future, we plan to use the same geochemistry testing
protocols on the remaining areas of the Cabin Lake Group Project
(i.e. inclusive of the Camp Lake and Slemon
Lake claims) to identify and further expand the known gold
anomalies."
About the Geochemistry Survey
The program consisted of 485 samples covering an area of
approximately 1,150 meters x 600 meters (69 hectares) following
lines north-south oriented and spaced 50 meters between each other.
Sample stations were placed every 25 meters within the lines.
Samples were taken using auger tools below the topsoil wherever
possible. Even though the region is known to be locally covered
with glacial till, the surveyed area was selected by its outcrop
exposures on known mineralized zones for comparison and reference
over other possible zones within the property boundaries.
The Geochemistry Survey also reveal coincident anomalies of
pathfinder elements to this style of gold mineralization such as
Arsenic, Sulphur (%) and Copper on top of the magnetic anomalies
following the Bugow Iron formation.
Aurora Geosciences Ltd. from Yellowknife, NT, Canada, was commissioned to perform the
geophysical and geochemical work. Soil samples were collected under
the direct supervision of Raul
Sanabria, P.Geo,, VP of Exploration at Rover Metals and
Company project QP, following a tight chain of custody from the
collection site to ALS preparation facility in Yellowknife, NT. Assays were performed at ALS
Laboratories in Vancouver, British
Columbia. Certified blank and standard samples were inserted
at regular batch intervals for accuracy and verification.
Technical information in this news release has been approved by
Raul Sanabria, M.Sc., P.Geo., VP of
Exploration at Rover Metals Corp. and a Qualified Person for the
purposes of National Instrument 43-101.
About Rover Metals
Rover Metals is a natural
resource exploration company specialized in Canadian precious metal
resources that is currently focused on the Northwest Territories of Canada, one of the most mining friendly
jurisdictions in North
America.
ON BEHALF OF THE BOARD OF DIRECTORS
"Judson
Culter"
Chief Executive Officer and Director
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
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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,
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SOURCE Rover Metals Corp.