Cabin Gold Group of Projects

Cabin Gold Project

Cabin Gold is located 40km north of the city of Behchoko, and Highway NT-3.  There is a permitted winter road that connects Highway NT3 and Yellowknife directly to the project, over Russell 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, and optioned part of the project to Cominco for exploration drilling. In 1986 Aber Resources (Diavik diamond mine founder) acquired the project. Aber Resources completed significant work on the project and defined the Bugow Iron Formation as the primary host for gold at the project. In 1987 Aber Resources optioned off part of the project for exploration to Freeport McMoran, while Aber Resources continued to drill the Arrow Zone (formerly the Cabin Lake Zone) reporting a historic resource at the Arrow Zone of 91,000 tons at 0.30 oz/t Au (average grade of 8.5 g/t Au). Aber Resources also documented several other historic zones on the project (the Beaver Zone, the Andrew South Zone, the Andrew North Zone, and the Camp Zone to name a few – see map of Bugow Iron Formation below) based on the work performed by Cominco and Freeport McMoran. Rover Metals acquired the project in 2018, and in the same year completed an airborne geophysics magnetic study on the Bugow Iron Formation extending its defined near-surface length to over 15km. In H2-2020 Rover Metals commenced a Phase I Diamond Drill Exploration Program at the historic Arrow Zone, which included the discovery and definition of a near-surface high-grade ore shoot open at depth, highlights of which included drill hole CL-20-08 which reported 32 meters of 13.6 g/t Au.

Bugow Iron Formation

Cabin Gold Project | Phase 1 Exploration Drilling H2-2020 at Arrow Zone

Arrow Zone

The company’s Corporate Presentation and FactSheet contain technical details of the Summer-Fall 2020 Drill Program. Highlights are summarized as follows: