VANCOUVER, Feb. 4, 2019 /CNW/ - Rover Metals Corp.
(TSXV: ROVR)(OTCQB: ROVMF) ("Rover Metals" or the
"Company") is pleased to announce that it has developed a 3D
interpretative video model summarizing the gold exploration work
carried out on the Bugow Iron Formation, the known host of the
historic gold mineralization on the Cabin Lake Gold Project
(the "Property"). The 3D interpretative video model has been
uploaded to Company's website for viewing by the public. The 3D
model also includes both the recent geophysical and geochemical
survey data, as well as Rover's updated interpreted structure of
the Bugow Iron Formation.
Judson Culter, CEO at Rover Metals, states: "there is tremendous
blue sky potential for high grade gold discovery given the number
of untested fold areas now identified within the iron formation
vis-à-vis high grade gold discovered in the historical drilling
campaigns in the 1980's." The iron formation overlay can be found
at time stamp 1:11 of the 3D video model.
The Company has found and GPS-referenced all the historic
blasted trenches and small pits at the Andrew North and South
Zones, as well as those located at the Beaver, Camp and other
locations within the Property. The UAS magnetic survey was key to
providing the required high-resolution and contrast on the Bugow
Iron Formation, the known host of the Property's gold
mineralization. The 2018 ground geochemical soil survey produced
multi-element (Au-Ag-As-S-Cu) anomalies over known mineralization
zones and additional zones coincident with conceptual mineralized
targets.
As per Section 2.4 of NI 43-101, Aber Resources Ltd. reported a
mineral inventory (that does not compare to the current CIM
Definitions Standards mineral resource categories) of 100,000 tons
at 0.30 ounces per ton gold at the Cabin Lake Gold zone on the
north limb of the folded Bugow Iron Formation in their 1986 and
1987 annual reports. The parameters used for the resource
calculation are unknown. These results are relevant as to delineate
a larger zone of gold mineralization at the Cabin Lake Gold Zone,
but further drilling is needed to bring that up to CIM Definition
Standards. The reader is cautioned that a qualified person has not
done sufficient work to classify the historical estimates as
current mineral resources and Rover Metals is not treating the
historical estimates as current mineral resources.
Technical information in this news release has been approved by
Raul Sanabria, M.Sc., P.Geo., VP of
Exploration at Rover Metals and the 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 (specifically gold) that is currently focused on the
Northwest Territories of
Canada, one of the most mining
friendly jurisdictions in North
America. The Cabin Lake Group of Gold Projects are
located within 20km of Fortune Minerals' (TSX: FT) NICO Project
gold processor.
Rover Metals' management team will be manning the booth
(#2951) at the upcoming PDAC conference in Toronto, ON, from March
3-6, 2019. We welcome the public to stop by end learn more
about our gold exploration plans for 2019.
You can follow Rover Metals on its social media channels
Twitter: https://twitter.com/rovermetals, LinkedIn:
https://www.linkedin.com/company/rover-metals/, and Facebook:
https://www.facebook.com/RoverMetals/ for daily company updates and
industry news.
DTC eligibility for the Company's U.S. OTCQB Listing is still in
progress and will be announced at a future date.
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
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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SOURCE Rover Metals Corp.