VANCOUVER, British Columbia, May 03, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce the start of its Phase 1 Exploration Program at its 100% owned Tobin Gold Project, Winnemucca, NV, USA. Rover has engaged a renowned Carlin gold geologist to assist in the planning of the Phase 1 program.
Tobin Gold Project
In February 2022, Rover acquired a 100% interest in the Tobin Gold Project (“Tobin”), which is comprised of 68 claims within BLM land, for a total of 1,405 acres (or 569 hectares). Tobin is a Carlin-style gold system set in Mesozoic rocks. The project is located about 40 km from the operating Phoenix Gold Mine, which is owned by Nevada Gold Mines, a joint venture between Newmont and Barrick. Tobin is also located about 60 km from i-80 Gold’s Lone Tree Gold Mine, 50 kms from SSR’s Marigold Mine and is in close proximity to other proven gold deposits owned by i-80 Gold, SSR Mining, and Kinross. See property map below for more details.
The property sits in the historical Mt. Tobin mercury district within an area of widespread silicification and banded chalcedony veins over an area of several square kilometers. Both structural and strata bound jasperoids are present in the adjoining Triassic and Paleozoic carbonate and fine-grained clastic sediments along the range-front structure as well as higher in the range. The prospect area was identified during a BLEG stream sediment sampling program. Follow up rock chip sampling along and above the range front confirmed that there are multiple structures carrying mineralization. Gold values run as high as 2.3 g/t Au, with many samples having gold content between 200 ppb Au and 1000 ppb Au. Pathfinder elements run as high as 200 ppm Sb, 1100 ppm As and 29 ppm Hg. Mineralization at the Tobin Project appears to be localized along two subparallel trends. The first is the range-front fault, and the second is structural zone located several tens of meters above the valley that trends somewhat obliquely to the range-front. To date, the better mineralized rocks were largely collected from this second structure located higher on the mountain front.
Proximity Map – Tobin Gold Project
Judson Culter, CEO at Rover Metals, states, “The Tobin Gold Project is our first low-cost gold exploration project. We believe that future drill programs will be reverse circulation (“RC”) drill programs. Tobin is located in the mining friendly jurisdiction of Nevada, in the Battle Mountain region, which has seen significant consolidation in the past several years.”
Rover has SEDAR filed its Annual 2021 Comparative Financial Statements and Management Discussion and Analysis (“MD&A”) for the years ended December 31, 2021 and December 31, 2020. The 2021 MD&A lays out management’s performance and significant milestones accomplished in 2021.
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.
Rover is a precious metals exploration company specialized in North American (Canada and U.S.) precious metal resources, which is currently advancing the gold potential of its existing projects. The Company owns five gold projects. Phase 3 Exploration at its Cabin Gold Project, in the Northwest Territories of Canada (60th parallel), is also currently underway as of the date of this release. Additionally, the Company is awaiting news from the Phase 2 Exploration Program at its Up Town Gold Project, in the Northwest Territories of Canada (60th parallel).
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ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and Director
For further information, please contact:
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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 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.
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