Roscan Gold Intersects 5.35gpt Gold over 53m in DDH-79 at Southern Mankouke and 3.99gpt over 17m in Fresh Rock in DDH-77

Toronto, Ontario--(Newsfile Corp. - November 23, 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 16 holes totaling 3,241 meters (m) at its Southern Mankouke Discovery. DDMan-20-79 (Figure 1 and Figure 2) intersected 5.35 gpt over 53m from 126.5m, including 12.5 gpt over 12m. Additionally, hole DDMan-20-77 intersected 3.99 gpt over 17m from 166.3m in Fresh Rock (Figure 3).

This very important discovery at Southern Mankouke has a strong magnetic signature and we plan to conduct a detailed interpretation of the recently completed air borne geophysical survey to assist in further drilling. Additional drilling will be required to further outline this strong hydrothermal system now with the confidence in the existence of a "root" source. The "structural corridor" in this area has become more evident as we continue drilling.

Drilling has intercepted un-oxidized material in at least seven holes (DDMan20-25, 41,52,54,61, and 77) in 2020. These fresh rock-sulphide intercepts clearly demonstrate an association of gold with disseminated pyrite, minor arsenopyrite and hydrothermal alteration which includes sericite-silica- dolomite/ankerite-albite-magnetite and quartz veining (mainly veinlets). The style of alteration encountered is typical of other gold deposits found in the region including Sadiola, Loulo Deposits and Fekola.

Drilling Highlights:

Southern Mankouke - Diamond Drill Holes

  • 5.35 gpt gold over 53m from drill hole DDMAN20-79 from 126.5m
    • Including 7.78 gpt gold over 5m from 128.5m
    • And 12.5 gpt gold over 12m from 157.5m
    • And 2.52 gpt gold over 47m from drill hole DDMAN20-79 from 45.5m
      • Including 10.3 gpt gold over 6m from 72.5m
  • 2.84 gpt gold over 40m from drill hole DDMAN20-70 from 114.5m
    • Including 6.23 gpt gold over 4m from 121.5m
    • And 7.06 gpt gold over 8m from 144.5m
  • 13.9 gpt gold over 6m from drill hole DDMAN20-81 from 53.5m
    • Including 36.7 gpt gold over 2m from 56.5m
  • 3.99 gpt gold over 17m from drill hole DDMAN20-77 from 166.3m
    • Including 8.43 gpt gold over 4m from 168.3m
    • And 2.40 gpt gold over 18m from drill hole DDMAN20-77 from 80.5m
      • Including 9.60 gpt gold over 2m from 83.5m
  • 3.52 gpt gold over 12m from drill hole DDMAN20-72 from 112.5m
    • Including 9.94 gpt gold over 3m from 116.5m
  • 34.0 gpt gold over 1m from drill hole DDMAN20-76 from 135.5m
  • 1.97 gpt gold over 11m from drill hole DDMAN20-64 from 61.5m
    • Including 7.83 gpt gold over 2m from 70.5m
  • 3.34 gpt gold over 6m from drill hole DDMAN20-69 from 57.5m
    • Including 16.3 gpt gold over 1m from 62.5m

Notes: 1: True width yet to be determined, 2: Table 1 - Assay Highlights, 3: 0.5gpt used as cut-off with 4m internal dilution for drill holes, and 2m internal dilution for regional drill holes, 4: No top-cut.

Nana Sangmuah, President and CEO, stated, "These positive results further confirm the continuity of the mineralization at Southern Mankouke and we are pleased to have encountered more fresh rock in both old and new intercepts. We remain confident that the feed source of the hydrothermal alterations should culminate in tracing a big system analogous to some of the known large deposits in the region with similar lithological controls.

"We remain focused on testing the full potential of our tenement package in order to yield more discoveries and expand on the success at Southern Mankouke (Figure 2). Drilling in 2020 continues to unlock the potential of our highly prospective land package which should lead to more news flow in the coming weeks."

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Figure 1: Plan View of the Southern Mankouke Drilling

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Figure 2: Longitudinal View Depicting Depth and High-Grade Continuity

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Figure 3: Cross Section Depicting the Extension to Vertical Depth - DDMan-20-77

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  • Drill hole DDMan-20-79 intersected one of the highest gram meters to date at Southern Mankouke. This drill hole, when coupled with previously high-grade drill holes, shows the persistent high-grade nature of the deposit. It should be noted that this hole is within the current drill area and drilled at a different azimuth of 340 as shown in the drilling plan.
  • Drill hole DDMan-20-77 intersected fresh rock over an interval of 17m with high-grade gold of 3.99gpt. This hole identifies the potential of the deposit in fresh rock and drilling will continue to clearly understand the extent of the mineralization.
  • Drilling will continue on the Mankouke South West (offset) area as soon as access allows, and a second drill can be moved in. Future drilling to test this area will be assisted by the air borne survey.

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Figure 4: Geophysics Data Showing the Major Structure on Kandiole Project

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  • The structural corridor is very evident with this round of drilling and many cross cutting faults occur which indicates the extension of the mineralization. Our Technical Team has now embarked on detailed exercise of logging and re-logging of all the previous cores to better understand the deposit. It is noted that this exercise has now shown that we are intersecting more fresh rock in earlier drilling than anticipated which is very encouraging.

Geology

The gold mineralization at Mankouke South is located approximately 25km east of the Fekola mine (B2Gold Corp.). Gold mineralization in Mankouke South occurs within hydrothermally altered and sheared metasediments of the Kofi formation which include greywacke, limestone and diamictite.

Drilling has intercepted unoxidized material in at least seven holes (DDMan20-25, 41,52,54,61, and 77). These fresh rock-sulphide intercepts clearly demonstrate an association of gold with disseminated pyrite, minor arsenopyrite and hydrothermal alteration which includes sericite-silica-dolomite/ankerite-albite-magnetite and quartz veining (mainly veinlets). The style of alteration encountered is typical of other gold deposits found in the region including Sadiola, Loulo deposits and Fekola.

The Mankouke South deposit is located within the sheared eastern limb of a fold within hydrothermally altered greywacke-diamictite-carbonate rocks directly above a footwall unit of finely banded and alternating graphitic shale and limestone referred to as the dirty limestone ("DLS"). The DLS unit is easily recognizable in the core and does not, to date, host any gold but forms a distinct footwall marker to the mineralization. The Mankouke South mineralization clearly occurs in the rock package above the DLS and has been enriched, upgraded, and concentrated by subsequent folding and shearing of the fold limbs. This deposit is therefore structurally controlled. The setting appears to be analogous to the Sadiola orebodies mined by IAMGOLD, in particular the FE open pit deposits.

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Figure 5: Drill Core Photo DDMan-20-79 Showing High-Grade Sections Mineralization Style of Deposit

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Figure 6: Drill Core Photo DDMan-20-77 Showing Broadly High-Grade Sections in Fresh Rock

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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 10gpt Au.

Table 1: Drillhole Highlights at Mankouke South (November 23rd, 2020)

Hole IDFrom (m)To (m)Interval (m)gpt AuComment
ALL SAP UNLESS NOTED OTHERWISE
DDMAN20-629.510.510.73
18.519.510.59
DDMAN20-6410.511.511.78
47.551.540.80
61.572.5111.97SR starting 68m
70.572.527.83SR
DDMAN20-6535.547.5121.38
58.563.551.08
DDMAN20-6725.527.522.25
92.593.510.99FRESH QFP
DDMAN20-6957.563.563.34
62.563.5116.3
108.5110.521.64FRESH QFP
118.5123.550.85FRESH QFP
DDMAN20-7035.537.520.84
45.548.530.70
91.592.510.52
95.596.510.94
104.5106.521.20
114.5154.5402.84
121.5125.546.23
144.5152.587.06
DDMAN20-72100.5102.522.41
112.5124.5123.52
116.5119.539.94
125.5142.570.96
151.5152.510.62
DDMAN20-739.520.5110.55
29.530.510.67
DDMAN20-7480.482.422.19
88.493.452.65
148.4149.410.61SR
DDMAN20-7548.556.580.64
70.573.531.88
98.5100.522.76
120.5126.560.60SR to 125m, then FRESH
DDMAN20-76135.5136.5134.0SR
149.5150.510.73FRESH QFP
DDMAN20-7710.526.5161.03
37.538.512.46
80.598.5182.40SR starting 95m
83.585.529.60
138.3139.310.60FRESH
166.3183.3173.99FRESH
168.3172.348.43FRESH
DDMAN20-78190.3191.311.85FRESH
212.3213.310.69FRESH
DDMAN20-794.520.5160.65
26.530.543.74
27.528.5111.9
39.540.511.73
45.592.5472.52
72.578.5610.3
102.5117.5152.23SR starting 109.5
116.5117.5113.9SR
126.5179.5535.35
128.5133.557.78
147.5148.5116.0
157.5169.51212.5
193.5198.551.79
DDMAN20-80NSR
DDMAN20-8146.548.520.69
53.559.5613.9
56.558.5236.7
88.5105.5171.91
103.5104.5116.7SR
112.5121.591.23
120.5121.515.60
132.5144.5122.64
143.5144.5116.0
150.5164.5141.29

 

Table 2: Drillhole ID Mankouke South (November 23rd, 2020)

Hole IDX CollarY CollarSectionAZMDIP
DDMAN20-6226245413764401376440270-50
DDMAN20-6426243713763491376350270-50
DDMAN20-6526250113763491376350270-50
DDMAN20-6726243313762991376300270-50
DDMAN20-6926243113762501376250270-50
DDMAN20-702625921375902137590090-50
DDMAN20-722625711375951137595090-50
DDMAN20-732622761376390137639090-50
DDMAN20-742625381375851137585090-50
DDMAN20-752625751375801137580090-50
DDMAN20-762624901375900137590090-50
DDMAN20-7726280213760501376050270-50
DDMAN20-782624931375903137590090-50
DDMAN20-792627221375867262700340-50
DDMAN20-8026278613758001375800270-50
DDMAN20-8126279513759001375900270-50

 

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, P.Eng
Executive Vice President - Corporate Development & Investor Relations
Tel: (416) 572-2295
Email: aramcharan@Roscan.ca

Greg Isenor, P.Geo
Executive Vice-Chairman
Tel: (902) 221-2329
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.

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