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Rover Metals provides update on its Northwest Territories Gold Projects
Rover Metals provides update on its Northwest Territories Gold Projects Canada New...
About this update from Stockworks Gold Inc.
[{"type":"text","content":"\n\n\n\nRover Metals provides update on its Northwest Territories Gold Projects\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 20, 2020\n\n\n\nVANCOUVER, Feb. 20, 2020 /CNW/ - Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (\"Rover Metals\" or the \"Company\") is pleased to announce that that it has entered into an amending agreement (the \"Amending Agreement\") with Silver Range Resources Ltd.  (\"Silver Range\") and Panarc Resources Ltd., amending the terms of Rover's option (the \"Option Agreement\") to acquire a 100% interest in the Up Town Gold Property (the \"Property\"), in Yellowknife, Northwest Territories, of Canada.\nThe Amending Agreement provides for, among other things, an extension of the timeframes within which Rover Metals must incur certain expenditures on the Property and an extension of the timeframe for the final payment required to be made by Rover Metals to Silver Range.\nPursuant to the Amending Agreement, the Company has extended the deadlines needed to exercise the First Option (as defined in the Option Agreement) and acquire a 75% undivided interest in the Property as follows: \nthe final payment of $120,000 has been extended from February 28, 2020 to March 16, 2021; andthe exploration expenditures requirement of $1,250,000 has been extended from February 28, 2020 to March 16, 2021A copy of the Amending Agreement will be available for viewing on the Company's profile on the SEDAR website at www.sedar.com.\nAbout Up Town GoldThe Up Town Gold project is located on the outskirts of city limits of the city of Yellowknife. The Up Town Gold project is an Archean lode-gold prospect adjoining the historic 8.1 million ounce (16.1 g/t Au) Giant Mine gold deposit in Yellowknife, Northwest Territories and Gold Terra Resources' (TSXV: YGT) Yellowknife City Gold Project. The 3,227 hectare property hosts ten high-grade gold occurrences. Most work has been conducted at the Rod Vein which was drilled to a shallow depth in the 1960's and mined on a small scale in 1979 by previous owners.  Recent historic surface samp...