Rover Metals Announces Infill and Delineation of the Historic Beaver Zone, at Cabin Gold, NT, Canada

Tuesday, December 7, 2021 6:00 AM PST
GLOBENEWSWIRE

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) -- Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, 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 is pleased to announce that it has been able to achieve expansion of the economic gold grades at the historic Beaver Zone. The Beaver Zone is situated roughly 400 meters northwest of the Arrow Zone, which was the focus of the Company’s exploration efforts in 2020. In November 2020, the Arrow Zone was delineated as a near surface, 120-meter high-grade ore shoot, open at depth. The Beaver Zone, currently defined as approximately 90 meters 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.

Beaver Zone ExpansionThe Company is reporting 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 meters of 4.63 g/t Au (from 42.6m to 49.0m), including 2.6 meters of 7.80 g/t Au; new drill hole CL-21-15 which reported 5.8 meters of 2.13 g/t Au (from 50.0m to 55.8m); new drill hole CL-21-39 which reported 4.6 meters of 2.21 g/t Au (from 11.0m to 15.6m); and new drill hole CL-21-40 which reported 4.5 meters of 0.84 g/t Au (from 13.8m to 18.3m). The results, both confirm and expand upon, historical drilling at Beaver in the 1980s, and have returned higher grades than historical results. The historical drill holes and new holes can be referenced in the drill plan for the Beaver Zone below. A table of significant Beaver Zone drill results greater than 0.5 g/t Au listed by hole and interval can be found at the bottom of this release.

Drill Plan View – Beaver Zone

CL-21-10/11 Cross SectionsCL-21-13/14 Cross SectionsCL-21-15 Cross SectionCL-21-16 Cross SectionCL-21-39/40 Cross Sections

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, which lies 400 meters to the southeast of Beaver. The Company commenced an IP ground survey on November 28th, 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.

Map of Beaver Zone and Arrow Zone IP Survey Lines

Judson Culter, CEO at Rover Metals, states: “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. A map of the Bugow Iron Formation, showing the current understanding and interpretation of the delineated zones as well as new 2021 IP anomaly discoveries can be found below.”

Map of the Bugow Iron Formation

Tables of Significant Drill Results

Hole IDEasting83z11Northing83z11Elevation (m)Total DepthDipAzimuth
CL-21-10559060700577017674-45230
CL-21-115590617005770176146-65230
CL-21-12559062700576917693.75-55195
CL-21-13559020700580017562-45230
CL-21-14559020700580017595-65230
CL-21-15559020700580017583-45190
CL-21-16559020700580017580-45260
CL-21-39559067700575517753-45230
CL-21-40559067700575517777-55250

Hole IDSample IDFrom (m)To (m)Interval (m)Au (g/t)
CL-21-10V74921242.643.10.51.17
CL-21-10V74921343.143.60.51.62
CL-21-10V74921443.644.10.50.95
CL-21-10V74921544.144.60.52.88
CL-21-10V74921644.645.10.57.32
CL-21-10V74921845.145.60.56.51
CL-21-10V74921945.645.90.322.40
CL-21-10V74921745.946.40.55.40
CL-21-10V74922146.446.70.38.33
CL-21-10V74922246.747.20.51.43
CL-21-10V74922347.247.70.50.42
CL-21-10V74922447.748.20.51.45
CL-21-10V74922548.249.00.87.30

Hole IDSample IDFrom (m)To (m)Interval (m)Au (g/t)
CL-21-13V74942141.5741.970.400.51
CL-21-13V74942241.9742.380.410.20
CL-21-13V74942342.3842.750.373.39
CL-21-13V74942442.7543.090.340.31
CL-21-13V74942543.0943.590.500.04
CL-21-13V74942643.5944.000.411.78
CL-21-13V74942744.0044.530.530.76

Hole IDSample IDFrom (m)To (m)Interval (m)Au (g/t)
CL-21-14V74946770.7071.000.300.62
CL-21-14V74946871.0071.430.430.51
CL-21-14V74946971.4371.810.381.52
CL-21-14V74947071.8172.160.350.41
CL-21-14V74947172.1672.560.401.59
CL-21-14V74947272.5672.90.345.48

Hole IDSample IDFrom (m)To (m)Interval (m)Au (g/t)
CL-21-15V74950750.0050.500.500.70
CL-21-15V74950850.5051.030.531.10
CL-21-15V74950951.0351.480.450.41
CL-21-15V74951051.4852.160.680.39
CL-21-15V74951152.1652.870.715.05
CL-21-15V74951252.8753.230.369.64
CL-21-15V74951353.2353.630.404.29
CL-21-15V74951453.6353.970.341.54
CL-21-15V74951553.9754.290.320.45
CL-21-15V74951654.2954.620.332.79
CL-21-15V74951754.6255.360.740.21
CL-21-15V74951855.3655.750.390.83

Hole IDSample IDFrom (m)To (m)Interval (m)Au (g/t)
CL-21-39V74841811.0011.900.901.39
CL-21-39V74841911.9012.200.300.96
CL-21-39V74842012.2012.940.740.61
CL-21-39V74842112.9413.360.421.13
CL-21-39V74842213.3614.000.647.96
CL-21-39V74842314.0014.520.522.72
CL-21-39V74842414.5215.000.481.60
CL-21-39V74842515.0015.620.620.74

Hole IDSample IDFrom (m)To (m)Interval (m)Au (g/t)
CL-21-40V74839243.5343.830.304.09
CL-21-40V74839343.8344.290.463.17
CL-21-40V74839444.2944.570.281.71
CL-21-40V74839544.5745.100.531.03
CL-21-40V74839645.1045.470.371.43
CL-21-40V74839745.4745.930.462.99
CL-21-40V74839845.9346.600.670.25
CL-21-40V74839946.6047.150.550.69

Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.

About Rover MetalsRover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in the summer of 2021, and Phase 2 Exploration work continues at Cabin Gold through to the date of this release.

You can follow Rover on its social media channels:

Twitter: https://twitter.com/rovermetalsLinkedIn: https://www.linkedin.com/company/rover-metals/Facebook: https://www.facebook.com/RoverMetals/for daily company updates and industry news, andYouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor corporate videos.Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director

For further information, please contact: Email: [email protected]Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking InformationThis 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 be 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65eb889b-c20a-41f7-a720-8d6868e69274

Beaver Zone - Drill Plan View

Beaver Zone - Drill Plan View
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