Rover Metals drills 6.4 metres of 4.63 g/t gold at Cabin project, Northwest Territories
Rover Metals Corp. [ROVR-TSXV; ROVMF-OTCQB] provided an update on its phase 2 exploration program at its 100%-owned Cabin gold project 110 km northwest of Yellowknfe, Northwest Territories, Canada. The focus of the Phase 2 Exploration Program was to discover and delineate new gold zones along the Bugow Iron Formation, the controlling structure for gold at the Cabin Gold Project.
The company achieved expansion of the economic gold grades at the historic Beaver Zone. The Beaver Zone is roughly 400 metres northwest of the Arrow Zone, which was the focus of exploration efforts in 2020. In November 2020, the Arrow Zone was delineated as a near surface, 120-metre high-grade ore shoot, open at depth. The Beaver Zone, currently defined as approximately 90 metres in near surface length, is showing potential to extend south-east into the high-grade Arrow Zone, as well as being open to the northwest, and at depth.
Rover reported multiple near-surface intercepts of economic gold grades at the Beaver Zone. Highlights of Phase 2 drilling include new drill hole CL-21-10 which reported 6.4 metres of 4.63 g/t gold (from 42.6 to 49.0m), including 2.6 metres of 7.80 g/t gold; new drill hole CL-21-15 which reported 5.8 metres of 2.13 g/t gold (from 50.0 to 55.8m); new drill hole CL-21-39 which reported 4.6 metres of 2.21 g/t gold (from 11.0 to 15.6m); and new drill hole CL-21-40 which reported 4.5 metres of 0.84 g/t gold (from 13.8 to 18.3m).
The results both confirm and expand upon historical drilling at Beaver in the 1980s, and returned higher grades than historical results.
The company’s working hypothesis is that there is a conceptual ore shoot at Beaver trending, and dipping to the northwest in a similar fashion and direction as the Arrow Zone, 400 metres southeast of Beaver. Rover began an IP ground survey November 28, 2021, across the Beaver and Arrow Zones to assist in 3D modelling of the gold mineralization for the delineation of the Phase 3 drill targets for Q1-2022.
Judson Culter, CEO, stated: “We are very pleased to have the workings of a new medium-to-high grade ore shoot at Beaver. The goal of the Phase 2 Program at Cabin was to open-up the 15 km of near surface iron formation at the project, and to delineate additional zones for a deeper Phase 3 drill program in Q1-2022. We believe that in addition to our success in the Beaver Zone we are poised for significant expansion of gold mineralization at the historic Andrew Zone as well. Based on the initial sampling results received from the Andrew Zone, we have sent more samples to the lab as we believe the mineralized intervals are longer than what initially sampled in the field at the start of the program.”