Roscan Outlines Potential Exploration Upside on Areas Within and Outside Current Resources
Roscan Outlines Potential Exploration Upside
on Areas Within and Outside Current
Resources
Toronto, Ontario--(Newsfile Corp. - June 8, 2022) -
Roscan Gold Corporation
(TSXV: ROS) (FSE:
2OJ) (OTCQB: RCGCF)
("Roscan" or the "Company")
is pleased to present its ongoing exploration
activities and potential resource growth beyond the recently announced first mineral resource estimate
("MRE").
The ongoing exploration activities have been
focused on two key areas: 1) The expansion of the
maiden
resource
within the MRE areas, which it is estimated to currently comprise a potential additional
resource in the
range of 8Mt at 1.0 g/t Au to 30Mt at 0.8 g/t Au and; 2) outside the MRE, which has seen
substantial positive exploration results but has not yet been captured in the reported MRE.
Key Highlights:
17,890 meters (m) out of the 20,000 m
ongoing drilling program have been completed beyond the
drilling data included in the MRE. 8,050 m are infill drilling in the resources areas focuses under the
1,500 USD
pit shell and 5,500 m of step out drilling program in the vicinity of the resource zones
(figures 5,6 and 7).
Drilling prioritization to favor areas of immediate upside potential such as the Exploration Target
areas at Mankouke South, Kabaya and Kandiole KN1 resource areas, including the oxide and
sulphide mineralization, their satellites and extensions.
Additional areas of prioritization outside the MRE area includes the discoveries at Disse and
Walia, and Mankouke West along with the strong potential of Bantanko East and Segondo West
and several other targets in in the Siribaya-Mankouke-Seko structural corridor.
Further potential to increase the resource estimates with LeachWELL assay process:
Only 18% of current drilling has now been assayed by LeachWELL which thus far has shown
substantial improvements in areas tested; increasing between 10% and 40 %.
Roscan plans to expand the use of LeachWELL on its existing resource base and to use it
extensively for all future drilling.
Nana Sangmuah, President & CEO, stated
,
"We are extremely
excited by our MRE that suggests a
stand-alone potential operation with over a million ounces delineated in the indicated category at a
very conservative gold price of $1500/oz.
We are even more excited by the growth potential to be unlocked with over 5,500 meters of drilling
completed in our expanded
resource target areas and newer discoveries like Disse. Our goal is to
continue to explore and to convert these potential growth areas into additional ounces in constrained
pits in the coming months."
Exploration Target - Potential Resource Growth
As reported on Roscan's MRE press release, the grade-tonnage model used to define the mineral
resource included estimates in areas with low confidence that do not meet the company's criteria for
defining a mineral resource. The ongoing exploration activities undertaken by the Company include
additional drilling in these areas and designed to
bring
additional tonnages and gold grades that were
not included in the
reported MRE's pit shells.
Table 1 below demonstrate the reported Exploration Target using a cut-off grade of 0.3 g/t Au for the
Upper Tonnage Range of the estimates and 0.5 g/t for the Lower Tonnage Range estimates. The 0.3 g/t
report includes lower confidence estimates than those for the 0.5 g/t cut-off.
Table 1: Exploration Target
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/4821/126805_table1.jpg
(*) Upper range from 0.3/0.42 cut-off includes lowest confidence estimates
(**) Lower range from 0.5/0.5 cut-off
Note: the disclosure of the aforementioned "Exploration Target" as a range of quantities and grades are conceptual in nature and there has not
been sufficient exploration to define a mineral resource. It is uncertain if future exploration will result in the target being delineated as a mineral
resource.
Mankouke Area
In section below, additional ounces are expected in the Mankouke MS1, under the resource 1,500 USD
pit shell (Figure 1). The hole DDMan21-104b on this section has already returned 2.02 g/t over 25
meters from 329.3 m (Roscan Press Release July 6, 2021). Infill drilling on this area is underway with 4
DD holes, totalizing 1,350 m.
`
Figure 1: Mankouke South Section 1375700 with block model 5m x 5mx 5m
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4821/126805_a55f5f61246c1921_002full.jpg
Kabaya Area
The Kabaya ongoing drilling program with 20 RC holes for 3,200 m is focused below the 1,500 USD pit
shell (Figure 2), where previous drilling outside the MRE has already returned 1.46 g/t over 31 m from
drill hole RCDBS22-0061 from 117m (Roscan Press Release March 23
rd
, 2022). The gold
mineralization expected is outside the current resource estimate and the block model is already
interpolated.
Figure 2: Kabaya Section 13789400 with block model 5m x 5mx 5m
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4821/126805_a55f5f61246c1921_003full.jpg
Kandiole Area
At Kandiole, the potential additional ounces outlined in the Exploration Target are mostly sourced from
the deeper zone underneath the 1,500 USD
pit shell (Figure 3), where some DD holes have already
demonstrated the gold mineralization extension. The current drilling program contemplates 7 RC and 10
DD holes totalizing 3,500m.
Figure 3: Kandiole 1 Section 1386595 with block model 5m x 5mx 5m
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4821/126805_a55f5f61246c1921_004full.jpg
Growth Opportunities from Areas Not Yet Captured in the Interim MRE and outside the
reported Exploration Targets
The current drilling program also includes several areas outside of the MRE and outside the defined
exploration targets, such as Disse, Walia, Mankouke West, Bantanko East and Segundo West.
At Disse, the high grade (7.29 g/t over 6 m from drill hole RCDBS21-0049 - Roscan Press Release
February 23
rd
, 2022) gold mineralization continues to be explored with possible expansion toward the
West.
Walia, in the NW corner of the Dabia South permit, is another key target to develop with a gold strike
length of 2 km from the previous reconnaissance Air Core holes results in the saprolite. At Bantanko
East and Segondo West, the assays are pending from the infill termite mound geochemistry to confirm
and delineate the targets for follow-up drilling.
In Mankouke West, the pending saprolite gold results from the Air Core fence lines (84 holes 5,620 m)
should provide a good indication to define mineralization not far from the Mankouke South resource
area. Several other targets on the large Roscan land package, both on the main Siribaya-Mankouke-
Seko structural corridor, as well as additional targets off this key corridor, remain to be explored at
different levels, from grassroots stage to development targets.
In order to complete the geochemistry survey, the termite mound sample collection has covered the NE
corner of the Dabia South permit and the West part of Segondo South permits, two non-explored zones.
Figure 4 sets out Roscan's exploration prioritization target pyramid and regional locations.
Figure 4: Roscan's Mineral Resource Areas and Growth Opportunities in Areas
Not Yet Captured in the Interim MRE
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/4821/126805_a55f5f61246c1921_005full.jpg
Figure 5: Mankouke South Upside resource targets
To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/4821/126805_a55f5f61246c1921_006full.jpg
To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/4821/126805_a55f5f61246c1921_007full.jpg
Figure 6: Kabaya KB3 Upside resources toward the South and open at depth
To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/4821/126805_a55f5f61246c1921_008full.jpg
Figure 7: Kandiole KN1 Ongoing drilling program, gold mineralization in the fresh rock
To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/4821/126805_figure7.jpg
Potential Upside Using LeachWELL Analytical Method
Roscan's has compared the analytical methods between 50g Fire Assay and the larger samples using
one-kilogram LeachWELL with atomic absorption finish including tail analysis. The results showed that
the grade of mineralized samples with an initial fire assay grade of less than 1.5 g/t Au increased, on