Roscan Gold Announces Positive Drill Results, Including First Diamond Drill Hole Intersection of 3.18gpt over 88m
Roscan Gold Announces Positive Drill Results, Including
First Diamond Drill Hole Intersection of 3.18gpt over 88m
Toronto, Ontario--(Newsfile Corp. - February 27, 2020) -
Roscan Gold Corporation (TSXV: ROS) (FSE:2OJ)
("Roscan" or
the "Company")
is pleased to announce positive drill results for the first 50 holes totaling 2,773 metres (m) of its Exploration
Program (Mankouke South Target) at its 100% owned Kandiole Gold Project ("
Project
") in west Mali, West Africa.
The drill program proves extension at depth with the recent 2 Diamond Drill Holes (Figure 2) and wide intersections (Figure 2,
Figure 3 and Figure 4) at Mankouke South Target. Encouraged by these results, high grades (Table 1), and strike extension
(Figure 1), Roscan plans to triple its current drill program to 30,000m and add a second drill.
Highlights:
3.18 gpt gold over 88.0m from drill hole DDMan-20-20 from 4.7m
;
Including 17.10 gpt gold over 1.0m from 8.7m
Including 23.30 gpt gold over 3.0m from 27.7m
Including 12.40 gpt gold over 7.0m from 38.7m
4.18 gpt gold over 40.0m from drill hole DDMan-20-21 from 62.3m
;
Including 8.49 gpt gold over 11.0m from 66.3m
Including 5.54 gpt gold over 5.0m from 89.3m
8.68 gpt gold over 39.0m from drill hole ACMan-20-312 from 6.0m;
Including 19.10 gpt gold over 16.0m from 8.0m
Including 62.90 gpt gold over 3.0m from 18.0m
12.10 gpt gold over 20.0m from drill hole ACMan-20-314 from 22.0m
;
Including 70.80 gpt gold over 3.0m from 26.0m
3.71 gpt gold over 48.0m from drill hole ACMan-20-288 from 2.0m;
Including 8.15 gpt gold over 10.0m from 30.0m
2.41 gpt gold over 49.0m from drill hole ACMan-20-289 from surface; and
Including 15.10 gpt gold over 3.0m from 8.0m
3.63 gpt gold over 15.0m from drill hole ACMan-20-290 from surface;
Including 34.60 gpt gold over 1.0m from 12.0m
Notes: 1: True width yet to be determined, 2: Table 1 - Assay Highlights, 3: 0.5gpt used as cut-off and 4: No top-cut
5. Holes have a dip of -50° and azimuth of 270°
Nana Sangmuah, President and CEO, stated, "These drilling results showed the consistency of mineralization along a major
trend across our property and highlight the depth, grade and width potential.
To date, all 6 Sections over 500m drilled have
intercepted high-grade mineralization - this high success rate also indicates the potential for the expansion of the target.
Roscan is progressing with an updated aggressive drill program that plans to triple the current drill program to 30,000m and
add a second drill. Our 2020 exploration program is off to a great start and we feel very encouraged by the initial results which
prompted our decision to add an additional drill to expand our drill program."
Figure 1:
Plan View delineating strike length and high grades at Mankouke South
To view an enhanced version of this graphic, please visit:
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Figure 2:
Section 1 - Depicting Depth and Width Continuity, & AC Drilling vs Diamond Drilling
To view an enhanced version of this graphic, please visit:
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Diamond Drilling (DD) confirmed both depth and width potential of mineralization on previously drilled fence 1375850N
2019 AC Drillhole ACMAN19-167 returned an average grade of 4.55gpt over the entire 50m hole and the twinned
Diamond Drillhole, DDMan20-20, in 2020, returned 4.46gpt over the first 50m. This gave us confidence in our AC drilling
to delineate our targets before deeper diamond drilling
Figure 3:
Section 2 - Depicting Depth and Width Continuity, with high grades
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Figure 4:
Section 3 - Depicting Depth and Width Continuity, with high grades at end of holes
To view an enhanced version of this graphic, please visit:
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Mankouke South
remains open to the North with new high-grade drill results
Positive drilling results indicate potential for additional gold deposits and mobilization of an additional drill will commence
shortly
We are currently conducting 3 dimensional modeling exercises of these holes to confirm our Geological Model
Regional Exploration Program
Other Kandiole Area ongoing exploration includes:
Ground geophysical orientation surveys at Mankouke South and Mankouke Central have been completed and we
are waiting for the interpretation before deep diamond drilling commences
Bulldozer has cleared the Kandiole West Target for exploration works. This zone is located approximately 8km East
of Fekola Mine (B2Gold)
Termite Mound Sampling is ongoing with 316 samples on a 100m x 50m grid over the Mankouke South Extension
and 200m x 50m grid over the Kandiole North area
The gold mineralization at Mankouke South is associated with quartz veining and/or disseminated and stringer pyrite hosted in
brecciated and locally sheared greywackes and mudstones underlain by interbedded limestones and mudstones of the Kofi
Formation about 25km east of the Fekola mine (B2Gold Corp.). This mineralization is structurally aligned with the Siribaya
deposits to the South (IAMGOLD Corp.), Roscan's Mankouke Central prospect along the 7km long Mankouke Corridor Target,
and our neighbors to the North (Oklo Resources Ltd.). Saprolitic alteration is approximately 100m deep based on our geological
interpretation at this time.
Drilling Contract and Analytical Protocol
The drilling contract was awarded to Target Drilling SARL who employ KL900-1 multi-purpose (AC/RC/DD) rig. Drill holes for
which results are reported were drilled from January 18 to February 11, 2020.
All drill samples are sent for preparation to Bureau Veritas Mineral Laboratories in Bamako, Mali and transported by Bureau
Veritas to their analytical facility in Abidjan, Ivory Coast for fire assay with atomic absorption finish and by gravimetric finish for
grades above 10 gpt Au. Roscan applied industry-standard QA/QC procedures to the program. Certified reference materials,
blanks and field duplicates are inserted at appropriate intervals.
Some highlighted results (July 22, 2019) from Southern Mankouke Discovery are shown below:
4.50 gpt gold over 16.0 metres from drill hole ACMan-19-167;
5.86 gpt gold over 26.0 metres from drill hole ACMan-19-167;
3.00 gpt gold over 10.0 metres from drill hole ACMan-19-168;
3.74 gpt gold over 30.0 metres from drill hole ACMan-19-168; and
6.13 gpt gold over 6.0 metres from drill hole ACMan-19-166.
Hole ID
Line #
From
To
Interval (m)
gpt Au
Comment
DDMAN20-
20
1375850
4.7
92.7
88
3.18
including
8.7
9.7
1
17.10
and
27.7
30.7
3
23.30
and
38.7
45.7
7
12.40
DDMAN20-
21
1375850
62.3
102.3
40
4.18
including
66.3
77.3
11
8.49
and
89.3
94.3
5
5.54
ACMAN20-
287
1375800
4.0
21.0
17
1.39
AND
41.0
50.0
9
1.31
Hole ended in
mineralization
ACMAN20-
288
1375800
2.0
50.0
48
3.71
Hole ended in
mineralization
including
30.0
40.0
10
8.15
ACMAN20-
289
1375800
0.0
49.0
49
2.41
including
8.0
11.0
3
15.10
ACMAN20-
290
1375800
0.0
15.0
15
3.63
including
12.0
13.0
1
34.60
AND
37.0
50.0
13
1.56
Hole ended in
mineralization
ACMAN20-
291
1375800
6.0
11.0
5
1.98
ACMAN20-
296
1375700
8.0
18.0
10
1.42
AND
23.0
44.0
21
1.10
ACMAN20-
297
1375700
29.0
49.0
20
1.06
ACMAN20-
298
1375700
0.0
36.0
36
2.09
including
28.0
35.0
7
4.82
ACMAN20-
306
1375600
33.0
47.0
14
2.76
including
35.0
37.0
2
11.50
ACMAN20-
309
1375900
41.0
47.0
6
1.34
ACMAN20-
311
1375900
5.0
20.0
15
1.45
AND
28.0
47.0
19
1.24
ACMAN20-
312
1375900
6.0
45.0
39
8.68
including
8.0
24.0
16
19.10
including
18.0
21.0
3
62.90
ACMAN20-
313
1375900
0.0
17.0
17
1.74
ACMAN20-
314
1375900
2.0
15.0
13
1.00
AND
22.0
42.0
20
12.10
including
26.0
29.0
3
70.80
ACMAN20-
315
1375900
2.0
21.0
19
1.52
ACMAN20-
316
1376000
0.0
11.0
11
1.06
ACMAN20-
317
1376000
34.0
41.0
7
1.23
ACMAN20-
318
1376000
25.0
33.0
8
1.22
ACMAN20-
319
1376000
11.0
48.0
37
3.27
including
22.0
26.0
4
9.35
and
33.0
37.0
4
7.68
ACMAN20-
320
1376000
3.0
43.0
40
1.52
including
29.0
32.0
3
7.46
ACMAN20-
327
1376100
20.0
50.0
30
1.50
Hole ended in
mineralization
including
44.0
45.0
1
12.40
ACMAN20-
328
1376100
30.0
34.0
4
4.85
including
33.0
34.0
1
14.80
Table 1: Drillhole Highlights for Initial 2020 Exploration Drilling
Qualified Person (QP) and NI43-101 Disclosure;
Greg Isenor, P. Geo., Executive Vice-Chairman for the Company, is the designated Qualified Person for this news release within
the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained
herein is accurate and approves of the written disclosure of same.
About Roscan
Roscan Gold Corporation is a Canadian gold exploration company focused on the exploration and acquisition of gold properties
in West Africa. The Company has assembled a significant land position of 100%-owned permits in an area of producing gold
mines (including B2 Gold's Fekola Mine which lies in a contiguous property to the west of Kandiole), and major gold deposits,
located both north and south of its Kandiole Project in West Mali.
For further information, please contact:
Andrew J. Ramcharan
Executive Vice President - Corporate Development and Investor Relations
Tel: (416) 572-2295
Email:
Greg Isenor
Executive Vice-Chairman
Tel: (902) 832-5555
Email:
Forward Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information
is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks,
uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those
expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from
such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations
in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the
mineral exploration and development industry, including those risks set out in the Company's management's discussion and
analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on
the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary
governmental and regulatory approvals will be received as and when expected. Although the Company believes that the
assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue
reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise
any forward-looking information, other than as required by applicable securities laws.
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