Rover Announces Drill Targets for Phase 2 Exploration at Cabin Lake Gold Project, NT, Canada - Seite 2

Figure 1 – Phase 2 Exploration Drill Targets

Beaver Zone
At the Beaver Zone, historic hole 88-61 reported a thick, >5m zone with >30% pyrite, reporting gold assays of 5m averaging 3.0 g/t Au, and 15m averaging 1.1 g/t Au. Nearby historic holes 87-49 and 88-63 show continuity of the >30% sulfide zone over a length of >20 meters, indicating the potential for a second gold mineralized shoot/zone.

Figure 2 – Beaver Zone Drill Target

Andrew South Zone
At the Andrew South Zone, historic hole 87-45 intersected another thick (>5m) interval where continuous 30% pyrite content is described in the drill logs with gold assays reporting 5.4m averaging 2.8 g/t Au. Step-out historic hole 87-56 intersected two sulfide rich zones (both limbs around the hinge zone of the tightly folded, sulfidized iron formation) returning an anomalous, but continuous low-grade gold interval, of 15m at 0.9 g/t Au.

Figure 3 – Andrew South Zone Drill Target

Other Zones
There are other zones on the property with strong potential for gold mineralization based on the review of historic drill logs that describe sulfidization in the iron formation that is coincident with the trace of the Bugow Iron Formation (>15km in length). The iron formation was delineated and reinterpreted from recent airborne magnetic airborne surveys, particularly in the northernmost end of the property (V-Showing, 0.22 oz/ton Au over 7 feet in a trench) and along the fold hinge immediately north of the Andrew North Zone.

Judson Culter, CEO at Rover Metals, states “we are excited to get back to exploration at the Cabin Lake Gold Project. LiDAR is the perfect next step for the project and will be another valuable tool for enabling our technical team to pinpoint the drill collar locations for the Beaver and Andrew South Zones. We have already identified the first drill collar locations for the Beaver Zone, and we are waiting on the snow to melt, so that we can mobilize for exploration.”

Rover’s technical team, led by Raul Sanabria, will continue to work on updates to the company’s website in the coming weeks. Near-term updates will include interpretation of the LiDAR imagery. The Company believes that the Cabin Lake Gold Project shares many comparable geological features with other Northwest Territories Archean load gold deposits which commonly have a statistical one-to-eight horizontal-to-vertical aspect ratio for mineralization at depth and an association with banded iron formation.