Rover Metals Corp. Concludes Acquisition of the Cabin Lake Property, NT, Canada
Rover Metals Corp. Concludes Acquisition of
the Cabin Lake Property, NT, Canada
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UNITED STATES
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VANCOUVER
,
Aug. 13, 2018
/CNW/ -
Rover Metals Corp. (TSXV: ROVR)
("
Rover Metals
" or the
"
Company
") is pleased to announce on
August 9, 2018
it completed its acquisition of the historic
Cabin Lake property (the "Cabin Lake Property") from Silver Range Resources (TSXV: SNG).
Pursuant to the acquisition, Silver Range Resources has retained a 2% net smelter royalty, buyable
down to 0.5%.
Historically, the Cabin Lake project was incubated, and explored by
Grenville Thomas
through his
legacy company, Aber Resources, in the late 1980's. Rover Metals acquired over 10,000 meters of
historical exploration data from North Arrow Minerals (TSXV: NAR) in March of this year. The Cabin
Lake property is located 110 kilometres northwest of
Yellowknife
and 38 kilometres north of
Behchoko in the Tlicho Traditional Territory, central
Northwest Territories
. The property hosts high-
grade gold in iron formation within Archean metasedimentary rocks. Historic work by Cominco Ltd.,
Freeport McMoRan Gold Company, and Aber Resources Ltd. centred on a steeply east-plunging
package of folded sulphidized iron formation containing pyrite, pyrrhotite, chalcopyrite and
arsenopyrite. Three historic resources are reported on the property in the NWT Minerals Database
(NORMIN 085OSW0001). On the south limb of the fold, Aber Resources Ltd. reported a resource
of 100,000 tons at 0.30 ounces per ton gold in their annual report while on the north limb of the fold,
Energy Mines and Resource Canada Mineral Bulletin MR223 records a mineral inventory of 43,900
tonnes at 4.39 grams per tonne gold in the Bugow Zone and 18,100 tonnes grading 7.89 grams per
tonne gold in the Andrew North Zone.mThe reader is cautioned that these resources are historic in
nature, do not comply with National Instrument 43-101 and have not been verified by Rover Metals.
Rover Metals also owns 100% interests in both the Slemon Lake and Camp Lake projects which are
located approximately 10 km and 20 km away, respectively, from the Cabin Lake Property.
On
July 24, 2018
Rover Metals announced that it has received a five-year land use permit (the "Land
Use Permit") from the Wek'eezhii Land and Water Board and the Mackenzie Valley Land and Water
Board. The Land Use Permit incudes the historic Cabin Lake project, the historic Slemon Lake
project, and the historic Camp Lake project, collectively, the "Cabin Lake Group of Properties."
Technical information in this news release has been approved by
Mike Power
, M.Sc., P.Geo.,
President and CEO of Silver Range Resources Ltd. and a Qualified Person for the purposes of
National Instrument 43-101.
About Rover
Rover Metals is a natural resource exploration company specialized in Canadian precious
metal resources and is currently focused on the
Northwest Territories
of
Canada
.
ON BEHALF OF THE BOARD OF DIRECTORS
"Judson Culter"
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.
SOURCE
Rover Metals Corp.
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For further information:
Judson Culter, Email: [email protected], Phone: (604) 449-5347
CO: Rover Metals Corp.
CNW 10:57e 13-AUG-18