Roscan Gold Further Expands Footprint at Mankouke South Intersects 16.0 gpt gold over 8m and 11.88 gpt gold over 6m at MS3
Roscan Gold Further Expands Footprint at
Mankouke South
Intersects 16.0 gpt gold over 8m and 11.88 gpt gold over 6m at
MS3
Toronto, Ontario--(Newsfile Corp. - January 10, 2022) -
Roscan Gold Corporation
(TSXV: ROS)
(FSE: 2OJ) (OTCQB: RCGCF)
("Roscan" or the "Company")
is pleased to announce positive
results (Figure 1) from an additional 2 Air Core (AC) and 14 Reverse Circulation ("RC") and Diamond
Drilling ("DD") holes totaling 2,456 meters (m) at our Southern Mankouke Zone (MS3 targets). MS3
shows potential of a high-grade extension to the East and South, open at depth and to the North and
South.
We have also begun to receive assay results from the 9,000m RC and 2,500m DD drill campaign on the
Mankouke South (MS1) and Kandiole resources targets, which was concluded the end of December
2021 with those results pending assays.
These results are in addition to the outstanding pre-rainy season results, which have identified new
anomalous targets coincident with our completed interpretation of the Versatile Time-domain
Electromagnetic System ("VTEM") geophysical survey. Such interpretation points to the expansion of
our previously known regional footprint and potential for significant resource growth beyond the current
footprint of existing discoveries.
Drilling Highlights:
Mankouke Discovery Zone (MS3)
16.01 gpt
gold over 8m from drill hole
DDMAN21-118
from 54m
Including
26.66 gpt
gold over 4m from 54m
11.88 gpt
gold over 6 m from drill hole
RCMan21-0058
from 19m
Including
48.27 gpt
gold over 1m, from 20m
8.89 gpt
gold over 4m from drill hole
RCDDMan21-123
from 175.5m
3.29 gpt
gold over 10m from drill hole
RCMan21-0056
from 18m
Including
8.01 gpt
gold over 1m from 19m and
11.76 gpt
gold over 1m from 24m
2.85 gpt
gold over 8m from drill hole
RCDDMan21-122
from 41m
Including
4.5 gpt
gold over 5m from 41m
7.61 gpt
gold over 2m from 194.4m
Notes: 1: True width yet to be determined, 2: Table 1 - Assay Highlights, 3: 0.5gpt used as cut-off with
4m internal dilution for drill holes, and 4: No top-cut.
Nana Sangmuah, President and CEO, stated, "
Our flagship discovery, Mankouke South, continues to
deliver results that not only confirms continuity of known mineralized areas with consistency of grades
and widths, but also adds new extensions of mineralization as outlined by the results at MS3, which
indicate a high-grade extension to the East, open at depth and to the North and South. We will follow
up such extensions with additional drilling toward the South to explore the possibility that MS3 might
be linked to main MS1.
As we previously reported, Roscan is in discussions with strategic partners for additional investment of
up to 19.9% of the Company to fast-track unlocking the value proposition on the broader land
package and fund our 2022 drill campaign. These discussions continue to progress well.
As a result of delays encountered at the assay lab, we are now anticipating our maiden resources to
be delivered in the first half of 2022, which will encompass results of the pre-rainy season campaign in
addition to the ongoing drilling campaign, for approximately 21,000 meters. This reinforces our
confidence that the Kandiole project is on track to confirm a stand-alone project status."
Mankouke Discovery Zone (MS3) - Potential High-Grade Extension to the East and South
At the MS3 Discovery Zone, RCDDMan21-118 with 16.01 gpt gold over 8m from 54m and
RCDDMan21-122 and 123 with 2.85 gpt gold over 8m from 41m and 8.89 gpt gold over 4m from
175.5m indicate the potential for a high-grade mineralization extension to the East and the South (Figure
2).
The gold mineralization trend is now recognized over 250 meters north to south and over 150 meters
vertical depth, ending in fresh rock. Additional follow-up drilling has been completed and results are
pending.
With the continuity of the MS3 extension toward the South, some additional holes are necessary to
explore the possibility to link MS1 and MS3.
Figure 1: Plan View of the Mankouke Drilling (MS1, MS2 and MS3)
To view an enhanced version of Figure 1, please visit:
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Figure 2: Cross Section Depicting Depth Extension with DDMan21-118 at MS3 Section 1376175
To view an enhanced version of Figure 2, please visit:
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Figure 3: Cross Section Depicting East Extension at MS3 - DDMan21-122 Section 1376400
To view an enhanced version of Figure 3, please visit:
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Geology
The gold mineralization at Mankouke South is located approximately 25km east of the Fekola mine
(B2Gold Corp.), but also along a prospective major NE-SW structural corridor from Siribaya-Diaka
(IAMGOLD Corporation) to Seko (Oklo Resources Limited). Gold mineralization in Mankouke South
occurs within hydrothermally altered and sheared metasediments of the Kofi formation which include
greywacke, limestone and diamictite but also in the edge of a felsic intrusive cross cutting the
sedimentary package.
The Mankouke South mineralization is located within the sheared eastern limb of a fold directly above a
footwall unit of finely banded and alternating graphitic shale and limestone referred to as the dirty
limestone. The gold mineralization is associated with a strong alteration over several lithologies, mainly
albite, silicification, ankerite and chlorite, with the sulfite occurrences (pyrite, arsenopyrite) but also
fracturing and quartz veins and veinlets. In MS1, as well as MS3, the gold mineralization is often
associated at the felsic intrusion and located in the vicinity of the contact with the clastic meta-sediment
layers (greywacke-sandstone-breccia).
Drilling and Analytical Protocol
Roscan uses Reverse Circulation (RC) to drill until 120-150m and continue if it is necessary with a
Diamond (DDH) type of drilling to reach the target. For this campaign, Geodrill drilled mainly the RC
portion of the holes and Foraco the core to reach the target depth.
The samples are sent for preparation to the ALS Laboratories in Bamako, Mali and assayed at their
analytical facilities to Ouagadougou for 1 kg Bottle Roll with atomic absorption finish including tail
analysis for results more than 0.05ppm.
Corporate Update
Roscan is pleased to report that the Company's ticker symbol in the United States, "RCGCF", has been
upgraded to trade on the OTCQB Venture Markets effective January 2022.
It is anticipated that Roscan' upgraded listing to the OTCQB will provide greater liquidity and a more
seamless trading experience for our U.S. shareholders. With enhanced reporting requirements and
greater transparency required with the OTCQB listing, the upgrade may also provide certain exemptions
from U.S. state securities laws or "blue sky" exemptions which may help to further increase liquidity and
expand investment advisors' ability to research and recommend investment in Roscan Gold.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Roscan on
https://www.otcmarkets.com/stock/RCGCF/overview
.
During the month of December 2021, 7,432,500 warrants were exercised for gross proceeds of C$
1,189,200. This included $360,000 cash injection by our Director, Michael Gentile, who increased his
share ownership to 23,187,500 shares as a result.
Table 1: RCDD hole Highlights at Mankouke MS3 - partial results (January 10, 2022)
To view an enhanced version of Table 1, please visit:
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Table 2: RC hole Highlights at Mankouke MS3 - partial results (January 10, 2022)
To view an enhanced version of Table 2, please visit:
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Table 3: Drillhole ID at Mankouke (January 10, 2022)
To view an enhanced version of Table 3, please visit:
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Qualified Person (QP) and NI43-101 Disclosure
Greg Isenor, P. Geo., Director 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:
Nana Sangmuah
President & CEO
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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