- Rover (ROVR) has received a C$100,000 government grant to explore its Cabin Gold Project in the Northwest Territories
- Highlights thus far include 32 m at 13.6 g/t gold, 6.4 m at 4.63 g/t gold, and 2.6 m at 7.80 g/t gold
- It will begin expansion drilling in the Arrow and Beaver zones in Q1 2022
- Rover is an exploration company specialized in North American precious metal resources
- Rover (ROVR) is unchanged trading at $0.05 per share
Rover (ROVR) has received a C$100,000 government grant to explore its Cabin Gold Project in the Northwest Territories.
The company began its first exploration drilling program at the project in September 2020. It has since discovered what it believes to be a primary gold-bearing ore shoot in the Arrow Zone of the Bugow Iron Formation.
On November 24, 2020, it reported an intersection of 32 m averaging 13.6 g/t gold from the Arrow Zone.
The Arrow Zone’s historic resource estimate stands at 100,000 tons at 0.30 Oz/ton gold but has yet to achieve NI 43-101 compliance.
Phase 2 exploration began in July 2021 to discover and define near-surface gold-bearing zones along Bugow.
In December 2021, it delineated a second medium-to-high-grade zone at the Beaver Zone, including 6.4 m of 4.63 g/t gold and 2.6 m of 7.80 g/t gold.
Expansion drilling in the Arrow and Beaver zones will begin in Q1 2022.
“Adding $100,000 to our working capital sets us up for success in Q1 2022 as we focus on expansion drilling at the highest-grade gold zones on the Cabin Gold Project,” said Judson Culter, CEO of Rover Metals. “Receiving tailwinds like these from government really make us feel excited about the future of this project.”
Rover is an exploration company specializing in North American precious metal resources.
Rover (ROVR) is unchanged trading at $0.05 per share as of 11:07 am EST.