- Rover Metals (ROVR) has completed Phase 2 exploration drilling at its Up Town Gold Project in northern Canada
- The Up Town Gold project is located on the outskirts of city limits of the city of Yellowknife in Northwest Territories
- The Vancouver-based exploration company optioned a 75-per-cent interest in the project to Arctic Fox Minerals Corp
- Results from the Phase 2 Drill Program are expected in the first quarter of 2022
- The 3,227 hectare property hosts ten high-grade gold occurrences
- Rover Metals is down 7.14 per cent, trading at $0.065 at 9:39 am ET
Rover Metals (ROVR) has completed Phase 2 exploration drilling at its Up Town Gold Project in northern Canada.
The Up Town Gold project is located on the outskirts of city limits of the city of Yellowknife in Northwest Territories.
The Vancouver-based exploration company optioned a 75-per-cent interest in the project to Arctic Fox Minerals Corp.
Arctic Fox is seeking a public listing of its shares on the Canadian Securities Exchange.
The Up Town Gold Project is an Archean lode-gold prospect adjoining the historic 7.2 million ounces Giant Mine gold deposit in Yellowknif and Gold Terra Resources’ Yellowknife City Gold Project.
The 3,227 hectare property hosts ten high-grade gold occurrences.
Most work to date has been conducted at the Rod Zone and Fox South Zone. The Rod Zone was drilled to a shallow depth in the 1960’s and mined on a small scale in 1979 by previous owners.
Recent historic surface sampling at the Rod Vein returned grab samples up to 318 grams of gold per tonne. Drilling by Rover in 2017 at the Rod Zone returned significant gold intersections in all of three holes drilled.
“We are expecting results from the Phase 2 Drill Program at Up Town Gold in Q1-2022, and we are wishing Arctic Fox the best of luck with their proposed listing on CSE,” said Rover Metals CEO Judson Culter.
Historic property scale geochemical and geophysical surveys defined several structural corridors localizing the principal gold showings. Mineralization at the Up Town Gold property is granitoid-hosted and belongs to the class of Archean granitoid-hosted lode gold deposits.
Rover Metals is down 7.14 per cent, trading at $0.065 at 9:39 am ET.