Roscan Gold Corporation

  • ISIN: CA77683B1076
  • Land: .

Nachricht vom 27.02.2020 | 12:00

Roscan Gold Announces Positive Drill Results, Including First Diamond Drill Hole Intersection of 3.18gpt over 88m

DGAP-News: Roscan Gold Corporation / Key word(s): Miscellaneous
27.02.2020 / 12:00
The issuer is solely responsible for the content of this announcement.

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."

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Figure 1: Plan View delineating strike length and high grades at Mankouke South
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Figure 2: Section 1 - Depicting Depth and Width Continuity, & AC Drilling vs Diamond Drilling
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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

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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
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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 IDLine #
FromToInterval (m)gpt AuComment
DDMAN20-201375850
4.792.7883.18


including8.79.7117.10


and27.730.7323.30


and38.745.7712.40








DDMAN20-211375850
62.3102.3404.18


including66.377.3118.49


and89.394.355.54








ACMAN20-2871375800
4.021.0171.39

AND
41.050.091.31Hole ended in mineralization








ACMAN20-2881375800
2.050.0483.71Hole ended in mineralization


including30.040.0108.15








ACMAN20-2891375800
0.049.0492.41


including8.011.0315.10








ACMAN20-2901375800
0.015.0153.63


including12.013.0134.60

AND
37.050.0131.56Hole ended in mineralization








ACMAN20-2911375800
6.011.051.98








ACMAN20-2961375700
8.018.0101.42

AND
23.044.0211.10








ACMAN20-2971375700
29.049.0201.06








ACMAN20-2981375700
0.036.0362.09


including28.035.074.82








ACMAN20-3061375600
33.047.0142.76


including35.037.0211.50








ACMAN20-3091375900
41.047.061.34








ACMAN20-3111375900
5.020.0151.45

AND
28.047.0191.24








ACMAN20-3121375900
6.045.0398.68


including8.024.01619.10


including18.021.0362.90








ACMAN20-3131375900
0.017.0171.74








ACMAN20-3141375900
2.015.0131.00

AND
22.042.02012.10


including26.029.0370.80








ACMAN20-3151375900
2.021.0191.52








ACMAN20-3161376000
0.011.0111.06








ACMAN20-3171376000
34.041.071.23








ACMAN20-3181376000
25.033.081.22








ACMAN20-3191376000
11.048.0373.27


including22.026.049.35


and33.037.047.68








ACMAN20-3201376000
3.043.0401.52


including29.032.037.46








ACMAN20-3271376100
20.050.0301.50Hole ended in mineralization


including44.045.0112.40








ACMAN20-3281376100
30.034.044.85


including33.034.0114.80

 

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: aramcharan@Roscan.ca

Greg Isenor
Executive Vice-Chairman
Tel: (902) 832-5555
Email: gpisenor@Roscan.ca

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/52835

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News Source: Newsfile


27.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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