Roscan Gold Intersects 3.20 gpt Gold over 70m and Confirms Depth Continuity to 120m at Mankouke South Target
Roscan Gold Intersects 3.20 gpt Gold over 70m and
Confirms Depth Continuity to 120m at Mankouke South
Target
Toronto, Ontario--(Newsfile Corp. - April 13, 2020) -
Roscan Gold Corporation
(TSXV: ROS) (FSE:2OJ)
("Roscan" or the
"Company")
is pleased to confirm depth continuity in mineralization and positive DDH and RC drill results (Figure 1) from an
additional 20 holes totaling 2,315 metres (m) at its Mankouke South Target, and AC drilling has begun at Kandiole West with the
arrival of the second drill.
The drill program has extended the depth of Southern Mankouke Target from 80m in February 2020 to currently 120m (Figure 2).
Additionally, drillhole
DDMan-20-25 ended in mineralization (40.7gpt over 1.5m)
at
143.7m
depth (Figure 3). The second
drill at Kandiole West began drilling (8km from B2Gold's Fekola Mine) and has completed 50 AC holes, and we are currently
awaiting the first batch of assay results.
Highlights from Mankouke South Target:
3.20 gpt gold over 70.0m from drill hole DDMan-20-27 from 29.2m
;
Including 9.19 gpt gold over 15.0m from 29.2m
5.75 gpt gold over 22.0m from drill hole DDMan-20-26 from 20.2m;
Including 36.5 gpt gold over 3.0m from 24.2m
5.80 gpt gold over 10.0m from drill hole DDMan-20-25 from 21.2m
;
Including 23.0 gpt gold over 2.0m from 29.2m
1.93 gpt gold over 12.0m from drill hole DDMan-20-25 from 122.2m;
18.6 gpt gold over 3.5m from drill hole DDMan-20-25 from 140.2m;
Including 40.7 gpt gold over 1.50m from 142.2m
(Hole ended in mineralization due to drilling issues)
3.66 gpt gold over 25.0m from drill hole DDMan-20-24 from 19.2m;
Including 5.92 gpt gold over 8.0m from 19.2m
1.60 gpt gold over 19.0m from drill hole DDMan-20-24 from 72.2m;
9.69 gpt gold over 7.0m from drill hole RCMan-20-10 from 70.0m;
Including 13.3 gpt gold over 5.0m from 71.0m
5.69 gpt gold over 7.0m from drill hole RCMan-20-10 from 87.0m;
Including 17.4 gpt gold over 2.0m from 87.0m
2.74gpt gold over 26.0m from drill hole RCMan-20-10 from 108.0m;
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, "
Safety remains our top priority and I am happy to advise, that, at this time, we
do not have any cases of the COVID-19 virus. We are very pleased with the rapid exploration success achieved in 2020, and
we now have several high-grade intersections at 80m-120m depth with our deepest hole to date DDMan-20-25 ending in high
grade gold mineralization. The geological potential at our project is clearly being demonstrated and, with this round of drilling,
has confirmed further depth extension.
Based on the current dataset it appears there is a slight northern plunge which is
similar to other deposits in the surrounding area. The second drill at Kandiole West Target is 8km east of the Fekola Mine
."
Figure 1: Plan View delineating high grades at Mankouke South
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4821/54365_052ef4daa4b23ba0_001full.jpg
Figure 2: Longitudinal View of Mankouke South - Depicting Depth Continuity with Diamond Drilling Holes
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4821/54365_052ef4daa4b23ba0_002full.jpg
Figure 3: Cross Section depicting Depth Continuity - DDMan-20-25 (EOH at 143.7m (40.7gpt))
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4821/54365_052ef4daa4b23ba0_003full.jpg
Mankouke South remains open at depth, and we will continue to drill deeper holes
Mankouke South remains open to the North and we will continue to drill to increase strike length with future drilling
We are currently conducting modeling exercises of these holes to better understand our geological model
We have implemented very stringent health measures to mitigate the COVID-19 virus and we continue to work with the
surrounding communities
Exploration has not been impacted to date by COVID-19 virus
Kandiole West (KW) - Regional AC Drilling Exploration Program
Completed 50 AC Holes for 1,719m along 3 fence lines with the second drill
Samples are being sent to the assay laboratory
This zone is located approximately 8km East of Fekola Mine (B2Gold)
Current planned exploration drill program comprises of 122 holes for 6,100m
We have intersected the fresh rock and will be tested in the next phase of drilling
Commenced 2 shifts per day
Bulldozer has cleared the Kandiole West Target for all drilling
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 and is located approximately 25km east of the Fekola mine (B2Gold Corp.). This mineralization is structurally aligned
with the Mankouke South mineralization that occurs in the structural corridor that also hosts 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.).
Drilling Contract and Analytical Protocol
The drilling contract was awarded to Target Drilling SARL who employ KL900-1 multi-purpose (AC/RC/DD) rig at Mankouke
South. The AC drilling contract was awarded to Geodrill and is currently drilling Kandiole West.
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 Line 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.
Hold ID
Line #
From
To
Interval (m)
gpt Au
Comment
RCMAN20-04
1375750
28.0
118.0
90
0.79
RCMAN20-05
1375750
3.0
31.0
28
0.82
and
38.0
76.0
38
1.28
including
41.0
50.0
9
3.13
RCMAN20-06
1375650
62.0
70.0
8
0.63
RCMAN20-10
1375950
5.0
18.0
13
1.53
and
30.0
45.0
15
0.49
and
70.0
77.0
7
9.69
including
71.0
76.0
5
13.3
and
87.0
94.0
7
5.69
including
87.0
89.0
2
17.4
and
108.0
134.0
26
2.74
including
110.0
113.0
3
7.85
and
122.0
124.0
2
9.86
RCMAN20-11
1375950
21.0
43.0
22
2.65
including
22.0
28.0
6
7.86
RCMAN20-12
1376050
96.0
106.0
10
2.03
DDMAN20-22
No significant Interval
DDMAN20-23
No significant Interval
DDMAN20-24
1376000
9.2
14.2
5
1.57
and
19.2
44.2
25
3.66
including
19.2
27.2
8
5.92
and
72.2
91.2
19
1.60
DDMAN20-25
1376000
21.2
31.2
10
5.80
including
29.2
31.2
2
23.0
and
44.2
49.2
5
1.58
and
92.2
100.2
8
0.84
and
122.2
134.2
12
1.93
and
140.2
143.7
3.5
18.6
hole lost in
mineralization
including
142.2
143.7
1.5
40.7
bit change / difficult
ground
DDMAN20-26
1375900
6.2
15.2
9
0.92
and
20.2
42.2
22
5.75
including
24.2
27.2
3
36.5
and
75.2
83.2
8
0.83
DDMAN20-27
1375800
1.2
24.2
23
1.01
and
29.2
99.2
70
3.20
including
29.2
44.2
15
9.19
Table 1: Drillhole Highlights at Mankouke South (Apr. 2020)
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.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/54365