Roscan Signs Drilling Contract With Geodrill for the Kandiole Project; Provides Update on Exploration Program
Roscan Signs Drilling Contract With Geodrill for the Kandiole Project;
Provides Update on Exploration Program
TORONTO
,
Oct. 31, 2018
/CNW/ -
Roscan Gold Corporation ("Roscan" or the "Company") (TSX-V: ROS)
is pleased to announce that it has signed a
contract with Geodrill Ltd. to commence drilling on, or about,
November 15, 2018
at the Company's 100%-owned Kandiole Project in
West Mali
. A 3,500 metre
Air Core ("AC") drilling program has been designed to test the numerous, high-quality, gold geochemical anomalies previously identified. The program is expected
to be completed prior to
December 31, 2018
.
AC DRILLING PROGRAM
The AC drilling program will include holes of maximum depths of 50 meters and a dip angle of no less than 50 degrees. At present, drilling access roads are being
completed and detailed information on drilling targets will be provided to the market in a future news release prior to the beginning of the program. A map
identifying targets and illustrating the drill plan will also be disseminated.
It is expected that in early 2019, a follow up program of Reverse Circulation ("RC") drilling will be initiated in areas with the most significant AC results.
GEOCHEMICAL SAMPLING PROGRAM
In addition, a crew of 25 personnel, including three senior geologists, are at the site and presently working. The exploration camp has been set up to support the
field crews and equipped to manage all of the data being collected. Three sampling crews are active in the field with soil and termite sampling. The sampling
program has been designed to cover all of the high priority targets and other areas of interest and will result in approximately 75% of the permits covered. It is
expected that this sampling program will identify further drilling targets.
"We were encouraged by the amount and strength of the previously announced Au-in-soil and termite mound anomalies that were identified in an area of existing
gold mines and are excited to begin this initial drill program," stated
Greg Isenor
, Roscan President and CEO. "We plan to release the first tranche of drill results
in early to mid December, along with future plans of the next phase of RC drilling. We are confident in the bright future of Roscan and see this initial drilling
program as the first step to building value for Roscan shareholders," Mr. Isenor continued.
ABOUT ROSCAN
Roscan Gold Corporation is a Canadian gold exploration company focused on the acquisition and exploration of gold properties in West Africa. The Company has
assembled a significant land position of 100%-owned permits in an area of large gold deposits for its Kandiole Project in west Mali.
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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SOURCE
RosCan Gold Corporation
View original content:
http://www.newswire.ca/en/releases/archive/October2018/31/c2980.html
%SEDAR: 00005503E
For further information:
please contact: Greg Isenor, President and Chief Executive Officer, Tel: (902) 832-5555 or (416) 293-8437, Email:
CO: RosCan Gold Corporation
CNW 08:00e 31-OCT-18