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
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.
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SOURCE Rover Metals Corp.
For further information: Judson Culter, Email: [email protected], Phone: (604) 449-5347