Rover Metals Corp. is awarded $85,000 grant from the Northwest Territories Government for historic Cabin Lake gold project
Rover Metals Corp. is awarded $85,000 grant
from the Northwest Territories Government for
historic Cabin Lake gold project
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VANCOUVER
,
Aug. 30, 2018
/
CNW/ -
Rover Metals Corp. (TSXV: ROVR)
("
Rover Metals
" or the
"
Company
") is pleased to announce that on
August 27, 2018
it was awarded an
$85,000
exploration grant from the
Northwest Territories
("NT") Government's Mining Incentive Program
("MIP") for its 100% owned Cabin Lake gold project, totalling 400 hectares and located
approximately 110 km northwest of
Yellowknife, NT
,
Canada
and 40 km northwest of the community
of Behchokǫ̀, NT,
Canada
.
The NT Government's Mining Incentive Program provides funding to exploration companies who
propose new exploration projects in the NT or are already carrying out NT mineral exploration work.
MIP grants are awarded based on a review by technical panel voting committee that consider the
economic impact of exploration projects vis-à-vis planned NT government infrastructure and other
criteria such as innovativeness of exploration approach.
Judson Culter, CEO & Director, states: "
I am extremely pleased that Rover Metals has received
this grant, which further justifies the merits of the Cabin Lake gold project and the quality of the
Rover Metals team. This funding will be used for our September exploration program at Cabin
Lake consisting of a UAS-EM geophysical surveying and soil geochemical sampling.
"
The company will be conducting a multi-stage exploration program commencing in September,
following a revised geological interpretation upon reviewing the recently acquired and very
comprehensive exploration data for Cabin Lake that Rover Metals purchased from North Arrow
Minerals (TSXV: NAR). The purpose of the September program is twofold: firstly, an airborne
magnetic survey will further outline the iron formation which is known to contain gold anomalies; and
secondly, the soil geochemical survey is to delineate additional gold anomalies along the highly
prospective shear corridor and its intersects with satellite iron formations. The previous exploration
work done by Aber Resources (
Grenville Thomas
) in the late 1980's, focused on a specific geologic
model of gold exclusively associated to fold hinges of iron formations, a model that was very robust
and worked well when interpreting other similar deposits, but not fully-adjusted for the Cabin Lake
property.
In order to advance the property, Rover Metals proposes to test new zones that step out from the
classic Iron Formation Gold deposit model and transition it to the shear-hosted gold deposit. Special
emphasis will be put into improving the understanding on the structures controlling gold
mineralization, and soil geochemistry and detailed ground magnetometer surveys will serve the
purpose. The work program would be conducted in two phases. The first phase, which will be
completed in September, will focus on mapping, sampling, structural reconnaissance, ground-based
magnetic survey, to test the surface expression of the new exploration model. The second phase,
beginning in Q1-2019, will include up to 2,000 meters of NQ diamond-core drilling and will test the
continuity of mineralization at depth.
Technical information in this news release has been approved by
Raul Sanabria
, M.Sc., P.Geo., VP,
Exploration Rover Metals Corp. 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
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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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http://www.newswire.ca/en/releases/archive/August2018/30/c4205.html
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For further information:
Judson Culter, Email: [email protected], Phone: (604) 449-5347
CO: Rover Metals Corp.
CNW 14:01e 30-AUG-18