- Rover (ROVR) has announced a C$200,000 non-brokered flow-through financing and concurrent closing
- Mining investor, Tookie Angus, purchased the financing in its entirety, adding to his existing position in the company
- The company will use the proceeds for phase 3 winter exploration on its Cabin Gold Project beginning in Q1 2022
- Rover Metals is a mineral exploration company specialized in North American precious metal resources
- Rover (ROVR) is up by 8.33 per cent and is currently trading at $0.065 per share
Rover (ROVR) has announced a C$200,000 non-brokered flow-through financing and concurrent closing.
Each unit is comprised of one common share priced at $0.08 per share and one-half of one common share purchase warrant.
The warrants have an exercise price of $0.12 per share over a two-year period.
The financing is fully subscribed – including 2,500,000 common shares and 1,250,000 common share purchase warrants – and will close on today’s date.
Mining investor, Tookie Angus, purchased the financing in its entirety, adding to his existing position in the company.
Rover will use the proceeds for phase 3 winter exploration on its Cabin Gold Project beginning in Q1 2022. Starting this month, the company will build ice drill pads on Cabin Lake for follow-up drilling at the Arrow Zone.
A standout intersection from the Arrow Zone, which remains open at depth, yielded 32 m of continuous gold averaging 13.6 g/t gold. The zone’s historic resource estimate stands at 100,000 tons at 0.30 Oz/ton gold, which Rover intends to confirm toward an NI 43-101 mineral resource estimate.
Next week, the company will provide an update on the timing of release dates for results from its phase 2 summer exploration program, which sought to discover and define new, near-surface gold-bearing zones along the Bugow Iron Formation.
The Bugow Iron Formation, the controlling structure for the gold mineralization on the property, is over 15 km in length, at or near surface.
Rover Metals is a mineral exploration company specialized in North American precious metal resources. It’s currently advancing the gold potential of projects in the Northwest Territories.
Rover (ROVR) is up by 8.33 per cent and is currently trading at $0.065 per share as of 10:21 am ET.
