LOI Page - Rover Metals Corp.
TSXV: ROVR

Properties

General Description

The Cabin Lake group of gold exploration properties are located 110 km northwest of Yellowknife, at the north end of Russell Lake, and 60 km southeast of Fortune Minerals Nicho project and close to the new Tlicho All Season Road. The Cabin Lake group of properties consist of three areas: Cabin Lake, Camp Lake, and Slemon Lake.



Cabin Lake

The property was first prospected in 1939. In 1946, Andrew Yellowknife Mines Limited tested seven zones by drilling 39 holes totaling 2,267 meters. In 1962, ownership of the claims was transferred to Rio Algom Limited. From 1982-1984, Highwood Resources Limited performed geophysical and geological mapping. In 1985-1987 Cominco continued the exploration work by performing geological mapping in sampled old trenches, magnetic surveys and drilling program. Navigator Exploration Corporation acquired a 100% interest in the 1,305 acre property from Aber Resources Limited in February 2000. In May 2004, Navigator Exploration Corp. and Strongbow Resources Inc. merged to become Strongbow Exploration Inc. and in May 2007, Strongbow Resources Inc.‘s spinout company, North Arrow Minerals Inc. became the property owner. North Arrow Minerals Inc. dropped the claim and was re-staked by DEMCo Ltd. in September 2013. DEMCo allowed the claim to lapse and the claim. Silver Range Resources staked the claim in mid 2016 and performed a sampling program. The check samples returned assaying up to 13.2 g/t Au with 5 of 15 samples collected returning assays greater than 5 g/t Au. Past exploration concentrated on the fold limbs and the inferred fold nose remains a highly prospective untested target based on data available in the public domain.

Archean sedimentary sequence of interbedded greywacke and argillite underlay the claims. This sequence has been metamorphosed to cordierite and/or andalusite grade. Within the sediments are interbedded amphibolitic iron formation and garnetiferous schist. In the northern part of the claim group, granite intrudes the sedimentary package. South of Cabin Lake, small granitic pluton intrudes the sediments. Pegmatitic, granitic - felsic porphyry and mafic dykes intrude the metasedimentary rocks. Proterozoic diabase dykes intrude all Archean lithologies.

First phase isoclinal folds (F1) are northwesterly-oriented, refolded by a second (northeasterly) phase, and possibly a third (northeasterly) phase (F2, F3). The most prominent cleavage is northwesterly trending, oriented from 5° to 15° clockwise from bedding and is axial planar to minor folds that post-date F1.

An east-trending regional metamorphic isograd to the south of the property marks the boundary between low-grade rocks to the south and medium-grade (cordierite-andalusite-bearing) rocks to the north.

Gold is associated with amphibolite (silicate facies) iron formation beds that vary in width from several centimeters to over 10 meters and are discontinuous along strike. Several distinct iron formation units have been identified on the property. Amphibolitic iron formation locally contains siliceous nodules, garnets, and up to 25% sulphides. Pyrite, pyrrhotite, and arsenopyrite, the main sulphides, vary from semi-massive laminated or bedded, to disseminated.

The potential tonnage and grade reported has been obtained from internal reports of Aber Resources and Freeport MacMoran (1987). They had been categorized as “Mineral Inventory” for 70,000 tons grading 0.3 opt Au. The cut off grades, QA/QC protocols and calculation methods are unknown to Rover Metals, and there is no reason to believe the non-accuracy of the results. Further drilling twinning some of the historical holes will suffice to validate the historical data. The company is not treating this resource estimate as current that conforms with 2.4(g) of NI 43-101. Source: “Beavon, R.V. (1987). Progress report on the Bugow Property, Russell Lake, NWT. Aber Resources Ltd.



Slemon Lake

Slemon Lake is located 125 kilometers northwest of Yellowknife and 4 kilometers northeast of Slemon Lake. Exploration first began in the area in 1939. There were two historic small exploration adits. The north shaft averaged 7.2 g/t Au across 0.98 meters and had a depth of 4.6 meters. The south shaft had a depth of 8 meters, and averaged 63.1 g/t Au over 0.24 meters. There has been a total of 44 diamond drill holes totaling 1,546 meters drilled to date and this has successfully determined that the veins extend to at least a depth of 45 meters, with a maximum reported strike length of 30 meters.

The property is located in the Russell Lake - Slemon Lake sub-domain of the Archean Yellowknife Supergroup. The Slemon Lake deposit/showing occurs within quartz veins in sheared greywackes and slates, and in quartz stockworks and breccias, associated with quartz porphyry sills, which have intruded the sediments. So far, these areas seem to be of limited extent, however, gold values over 102 g/t have been reported.

The quartz veins strike variably, but generally in a northwest direction, and dip sub-horizontally to near vertical in several areas. The stockwork/breccia zones strike variably, with the zone reported to be approximately 45 meters in diameter. The stockwork has been interpreted, by Noranda geologists, to be within iron formation.



Camp Lake

Camp Lake is located on the East side of Snare River approximately 131 kilometers northwest of Yellowknife. The area was first staked in 1938. Historic work was completed by American Yellowknife Gold Mines in 1945, which included a 20-hole (614 meter) drill program. Snare River Mines was formed to develop the property. In 1954, Tarbell Mines purchased the assets, which included the Camp Lake claims. Subsequently, Anglo United Development Corporation, in 1965, drilled a total of 44 holes totaling 4,370 meters.

In 1995 Hawkeye Gold International carried out geological mapping and geophysical surveys were carried out (AR 083831). During 1997, a 179 line-km airborne magnetic and EM survey, geological mapping, and prospecting were completed.

The deposit lies on the southwest margin of the Slave Geological Province, also located within a few kilometers of the boundary between the Bear and Slave geological provinces. A series of tightly folded and faulted sediments dominate the Slave province. Plutons, ranging in composition from gabbro to granite (along with dykes of mafic to felsic composition) intrude these sediments. Volcanic rocks, again of mafic to felsic composition, are common throughout the area.

The Camp Lake deposit is divided into two areas. The northern area is made up of three distinct zones, while the southern area is one zone. The major rock types in the deposit area are metasediments, mainly coarse grained to argillitic greywackes, with minor intrusive plugs, and dykes. Foliation is reported to be roughly parallel to bedding in a northwesterly direction and dipping 60 to 70 degrees east. Small faults run northeasterly, and dip approximately 50 degrees, with small horizontal displacements. Shear zones, when present, are roughly parallel to bedding. Quartz veining is significant in the shear zones, however they are generally narrow, with limited strike extension.

Mineralization is in general restricted to the quartz veins in shears, and consists of pyrite, arsenopyrite, galena, and minor sphalerite. Silicification with minor carbonatization, and sericitization are the predominant forms of alteration within the shears and in proximity to them.

Technical information for Cabin Lake, Slemon Lake, and Camp Lake has been approved by Raul Sanabria, P.Geo., Vice-President Exploration of Rover Metals Corp. and the Qualified Person for the purposes of National Instrument 43-101.