Roscan Gold Intersects High-Grade Gold in Fresh Rock and 5.16gpt over 65m at Mankouke South; Provides Positive Update on Kandiole
Toronto, Ontario--(Newsfile Corp. - June 22, 2020) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTC Pink: RCGCF) ("Roscan" or the "Company") is pleased to announce positive diamond drill results (Figure 1) from an additional 10 holes totaling 1,855 metres (m) at its Mankouke South Target. Drill hole DDMan-20-41 (Figure 4) intersected a high-grade interval in fresh rock of 14m @ 1.79gpt gold (Figure 2).
The regional upside potential of the Kandiole Project, outside Mankouke South, is considerable with 7 key targets. Initial drilling at Kandiole prospect (Figure 7), provides strong impetus for testing near surface and deep mineralization during the next few months. Exciting results at Kandiole included drill hole ACKAN20-39 which intersected 4m @ 11.3gpt gold.
- 5.16 gpt gold over 65.0m from drill hole DDMan-20-34 from 93.2m;
- Including 12.6 gpt gold over 7.0m from 103.2m
- Including 15.1 gpt gold over 5.0m from 138.2m
- 4.03 gpt gold over 28.5m from drill hole DDMan-20-34 from 23.7m
- 3.73 gpt gold over 36.0m from drill hole DDMan-20-41 from 148.0m;
- Including 14.7 gpt gold over 4.5m from 155.5m
- 2.28 gpt gold over 23.0m from drill hole DDMan-20-32 from 130.2m;
- 1.74gpt gold over 40.0m from drill hole DDMan-20-40 from 41.0m.
Regional AC Drilling
- 5.51gpt gold over 2.0m from drill hole ACKAO-20-82 from 10.0m;
- 11.3 gpt gold over 4.0m from drill hole ACKAN-20-39 from 14.0m;
- 4.57 gpt gold over 2.0m from drill hole ACKAN-20-60 from 2.0m.
Notes: 1: True width yet to be determined, 2: Table 1&2 - Assay Highlights, 3: 0.5gpt used as cut-off with 4m internal dilution for drill holes at Mankouke South and 2m internal dilution for regional drill holes, 4: No top-cut and 5. Holes have a dip of -50° and azimuth of 270° except for holes DDMAN20-32 and DDMAN20-40 drilled with an azimuth of 090°
Nana Sangmuah, President and CEO, stated, "These first high-grade gold results in fresh rock are very encouraging and point to a deeper feed source for the mineralization at Southern Mankouke. While still early days this often is a trademark of the larger deposits in the district. One of our highest gram meter intersected to date is Drillhole DDMan-20-34 (Figure 3) which highlights the high-grade potential at Mankouke South where we currently have 2 drill rigs. In addition, we have extended the vertical depth at Southern Mankouke to 165m in drillhole DDMan-20-41. (Note: This is not the true width of the mineralized intersection.)
On the regional front, our near-surface drilling continues to extend the lateral footprint of mineralization at the Kandiole Target. These latest results definitely warrant follow up and we will commence a high resolution Airborne Survey which would give indications of any major structural controls. We intend to systematically explore approximately 20km of Siribaya Mankouke Seko (SMC) Corridor after consolidating the corridor post the Komet acquisition."
Figure 1: Plan View delineating Strike Length and High Grades at Mankouke South
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Figure 2: Longitudinal View of Mankouke South - Depicting Depth Continuity (165m) and Intersection of Fresh Rock
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Figure 3: Cross Section depicting Depth and High Grade Continuity - DDMan-20-34
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Figure 4: Cross Section depicting the intersection in Fresh Rock - DDMan-20-41
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- Drill hole DDMan-20-34 intersected one the highest gram meter thus far of 5.14gpt over 65m at Southern Mankouke. This drill hole when coupled with previously high grade drill holes shows the persistent high grade nature of the deposit.
- Drill hole DDMan-20-41 intersected a high grade interval of 14m @ 1.79gpt in fresh rock at Mankouke South which shows the gold mineralization extends at depth in the fresh rock.
The gold mineralization at Mankouke South is associated with quartz veining (Figure 5 & Figure 6) and/or disseminated and stringer pyrite hosted in brecciated, silicified and locally sheared greywackes and mudstones underlain by interbedded limestones and mudstones of the Kofi Formation. Mankouke South is located approximately 25km east of the Fekola mine (B2Gold Corp.).
Figure 5: Drill Core Photo DDMan-20-41 showing high grade sections in Fresh Rock. Showing hydrothermal breccia with locally preserved greywacke and argillite clasts, intermittent albite alteration, strong silicification, quartz stockwork and 5% disseminated pyrite (minor stringer pyrite)
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Figure 6: Drill Core Photo DDMan-20-34 showing broadly high grade sections.
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Regional Exploration Update:
With the Komet Acquisition, Roscan will consolidated a land package comprising of ~20km strike length on the Siribaya-Mankouke-Seko Corridor, a major structural trend that is approximately 5km wide in certain areas. Exploration of this corridor has confirmed the occurrence of mineralization in Mankouke South, Central Mankouke, Kandiole, Kabaya, Disse and Walia. Kabaya already has a historical estimate that warrants following up with incremental drilling.
The initial drilling at Kandiole (Figure 7) has proven our hypothesis of gold mineralization and will be following up on some of the high grades after the Airborne Survey. Table 2 below shows some of the encouraging intercepts and hence our immediate attention to follow-up with detailed assessment.
This Airborne Survey will be detailed, high resolution, helicopter borne, time domain electromagnetic, magnetic and radiometric survey over the entire property. The helicopter survey will utilize a low survey altitude of 40m and close line spacing every 100m. The high resolution survey will be undertaken at the end of the rainy season. The survey is designed to provide a geological and structural framework to our existing gold targets, identify new ones, and gold bearing structural corridors. Following completion of the survey, which will be done by Nrg's xcite™ Airborne Electromagnetic (AEM) system, a more comprehensive target generation exercise will be undertaken and will involve integration of the new geophysical data with all existing geology and grade information for further detailed and refined drill testing.
Figure 7: Plan View of Kandiole Exploration Targets with gold grades
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- The regional exploration upside of Roscan's overall land package is compelling and early results included 4m @ 11.3gpt confirm the prospectively and the need for more drilling near surface and at deeper intervals in coming months.
At Kandiole, many of the termite anomalies tested are related to gold in oxides including a potential corridor of high interest that includes an intersection grading 11.7gpt gold over 4m. Also, gold in transported laterite, with the exception of an anomalous trend in the central part of the permit, will be followed-up with the Airborne Survey to better define these anomalies.
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 exploration targets.
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 10gpt Au. Roscan applied industry-standard QA/QC procedures to the program. Certified reference materials, blanks and field duplicates are inserted at appropriate intervals.
|Hold ID||Section Line||From||To||Interval (m)||gpt Au|
Table 1: Drillhole Highlights at Mankouke South (June 22nd, 2020)
|Hold ID||Section Line||From||To||Interval (m)||gpt Au|
Table 2: Drillhole Highlights at Kandiole (June 22nd, 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.
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, P.Eng
Executive Vice President - Corporate Development and Investor Relations
Tel: (416) 572-2295
Greg Isenor, P.Geo
Tel: (902) 902-221-2329
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.
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