- Rover Metals announced that the NI 43-101 technical report for the Cabin Lake Gold Project is nearly complete
- The Cabin Lake Gold Project is near Yellowknife, Northwest Territories, in a mining district that hosts an endowment of precious metals, diamonds, critical minerals such as lithium and cobalt, as well as several rare earth elements
- The company anticipates that the report will be available the in the middle of Q1 2024
- Shares of Rover Metals traded between $0.03 to $0.04 between mid-November to mid-December
Rover Metals (TSXV:ROVR) announced that the NI 43-101 technical report for the Cabin Lake Gold Project is nearly complete.
The Cabin Lake Gold Project is near Yellowknife, Northwest Territories, in a mining district that hosts an endowment of precious metals, diamonds, critical minerals such as lithium and cobalt, as well as several rare earth elements. The company anticipates the report will be available the in the middle of Q1 2024.
In a news release, the Vancouver-based junior mining company explained that late-stage brownfields exploration projects in the area promise to bring new infrastructure and investment to the area aided by the Government of Canada’s C$1.5 billion Critical Minerals Infrastructure Fund.
The company’s 100-per-cent-owned Cabin Lake Gold project is being offered for sale under a staged-ownership purchase option, including an up-front cash payment. The company intends to retain a royalty on the project.
On Nov. 24, 2020, Rover reported multiple high-grade gold drill intercepts:
|
Hole ID
|
From
|
To
|
Length
|
Au g/t (weighted)
|
|
CL-20-08
|
17.5m
|
49.4m
|
31.9m
|
13.66 g/t Au
|
|
CL-20-01
|
24.6m
|
46.6m
|
22.0m
|
7.94 g/t Au
|
|
CL-20-03
|
41.2m
|
54.8m
|
13.7m
|
6.97 g/t Au
|
|
CL-20-06
|
13.1m
|
20.5m
|
7.49m
|
7.55 g/t Au
|
In 2021, the team performed extensive geophysical exploration programs including LiDAR and regional airborne magnetic surveys, as well as detailed ground IP geophysics work that identified multiple sulphide anomalies along the Bugow Iron Formation that still have not been drilled.
“The sale of an option for the Cabin Lake Gold project will help bring-in needed working capital for 2024, Judson Culter, CEO of Rover Metals, said in a statement. “Management at Rover is focused on the continued permitting work at its Let’s Go Lithium project, NV, USA. The Company also has identified hard rock pegmatites at its IML Project in the Northwest Territories. In 2024, we will be renewing our efforts to further explore and identify pegmatites at the IML project, including regional exploration in the Yellowknife Pegmatite Province, where the IML project is located. We have received a territorial government grant of C$153,000 for exploration work at the IML Project and we are pursuing federal government funding opportunities for the project as well.”
Rover Metals Corp. specializes in U.S. and Canadian critical minerals projects.
Shares of Rover Metals traded between $0.03 to $0.04 between mid-November to mid-December.
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