Roscan Gold Makes New Discovery at Moussala North - Intersects 5.39 gpt over 32m from Surface Including 8.93 gpt over 16m
Toronto, Ontario--(Newsfile Corp. - November 9, 2020) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTC Pink: RCGCF) ("Roscan" or the "Company") is pleased to announce that it has identified high-grade gold at Moussala North (Figure 1 and Figure 2), which is a new gold discovery and compliments previous exploration success further North in 2018 and 2019. Hole ACMOU20-206 returned high-grade gold from surface (Table 1) and intersected 5.39 gpt over 32m including 8.93 gpt over 16m.
This new discovery (labeled MO1 in Figure 1) appears to be directly on an approximate 8km trend to the NE from the recent Kandiole North Discovery (KN1) and within the recently defined Kandiole Trend. (News Release 05/10/2020) This new discovery along with series of positive drill results during 2018 and 2019 clearly warrant additional follow-up drilling in the Moussala North Region.
Air Core Holes - Drill Highlights 2020:
- 5.39 gpt gold over 32m from drill hole ACMOU20-206 from 0m
- Including 8.93 gpt gold over 16m from 4m
- 1.90 gpt gold over 10m from drill hole ACMOU20-205 from 18m (END OF HOLE)
- Including 5.41 gpt gold over 2m from 20m
Air Core Holes - Drill Highlights 2019: (News Release 22/07/2019)
- 3.82 gpt gold over 6m from drill hole ACMOU19-10 from 38m
- Including 8.46 gpt gold over 2m from 42m
Air Core Holes - Drill Highlights 2018: (News Release 24/01/2019)
- 35.5 gpt gold over 2m from drill hole ACMOU18-17 from 2m
- 4.89 gpt gold over 8m from drill hole ACMOU18-02 from 16m
- Including 16.6 gpt gold over 2m from 22m
- Including 2.75 gpt gold over 4m from 32m
- 1.62 gpt gold over 6m from drill hole ACMOU18-01 from 24m
Notes: 1: True width yet to be determined, 2: Table 1 - Assay Highlights, 3: No top-cut 4: All holes are 270 degree Azimuth and -50 degree Inclination 5: 2m internal dilution.
Nana Sangmuah, President and CEO, stated, "We are very excited by the ongoing positive exploration results received to date on multiple targets outside our main Mankouke South Discovery, which clearly identifies the significant potential of our entire land package.
Our technical team on the ground is very excited about the Moussala North Discovery which is returning some wide intercepts and high grades like we saw in the early days at Southern Mankouke. With Kandiole North, Walia and now Moussala North we are very encouraged by the progress being made to turn our priority regional targets into discoveries and will follow-up with additional drilling to establish the boundaries of each of these new discoveries. Three (3) significant discoveries in less than 2 months signals the potential of the structural corridor(s) on our prolific land package and points to more news flow in the coming months."
Figure 1: Plan View of Moussala North
To view an enhanced version of Figure 1, please visit:
Figure 2: Plan View of Moussala North Showing Assays
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Figure 3: Cross Section at Moussala North
To view an enhanced version of Figure 3, please visit:
The Company has reviewed and reprocessed historical geophysical data covering our licence portfolio. This work has identified a new structural corridor that can be traced in a NNE direction for over 15km and links the gold mineralisation identified in Kandiole North (KN1 target) with our new discovery intercept in Moussala North and the Seko deposits of Oklo.
At present, we are diamond drilling at Mankouke South, as well as other target areas of the land package, and will update the market with drill results in the near future.
To evaluate our high priority Regional Targets, we are adopting the same procedures as our Mankouke South Discovery, using Air Core drilling to first test the termite anomalies. When significant results are returned, such as seen at Southern Mankouke and now at Moussala North, additional follow up AC fence drilling will be done to define strike and grade consistency of mineralization. RC and DD are subsequently initiated to determine depth potential.
Drilling Contract and Analytical Protocol
The drilling contracts were awarded to Target Drilling SARL and Geodrill who both employ multi-purpose (AC/RC/DD) rig and AC rigs at the Kandiole Project. The AC drilling is mainly focused on drilling exploration targets. Roscan applied industry-standard QA/QC procedures to the program. Certified reference materials, blanks and field duplicates are inserted at appropriate intervals.
The samples are sent for preparation to Bureau Veritas Mineral Laboratories in Bamako, Mali and assayed at their analytical facilities in Bamako and in Abidjan, Ivory Coast with fire assay with atomic absorption finish and by gravimetric finish for grades above 10 gpt Au.
Table 1: Drillhole Dataset at Moussala North
|Hole ID||From (m)||To (m)||Interval (m)||gpt Au||Comment|
Table 2: Drillhole Dataset at Collars, Azimuth and Dip
|Hole ID||X Collar||Y Collar||Section||AZM||DIP|
Qualified Person (QP) and NI 43-101 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
Tel: (416) 572-2295
Greg Isenor, P.Geo
Tel: (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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