Roscan Gold Discovers New High-grade Zone 150m West of Mankouke South Intersecting 4.78gpt over 24m near Surface; Extends Vertical Depth to 220m at Mankouke South and Intersects 2.36gpt over 30m in Fresh Rock

Toronto, Ontario--(Newsfile Corp. - March 8, 2021) -  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 8 holes totaling 2,797 meters (m) at its Southern Mankouke Discovery. DDMan-20-89 intersected 4.78gpt over 24m from 7.5m including 32.9gpt over 2m which is a New Discovery Zone 150M West of the Main Mankouke South Discovery Area. This hole appears to outline another parallel system to Mankouke South and highlights the potential to expand the resource footprint to the west. The new discovery area lies directly on trend to the strong geomagnetic signature of Mankouke West, our KN1 discovery area and Kabaya, further to the NE. This new discovery reinforces the importance of our recent acquisition of the Mankouke West land package which will be a core focus of our 2021 target prioritization work.

In addition to our new discovery, recent drilling encountered multiple significant intercepts in Fresh Rock deeper in the Southern Mankouke Zone. DDMan-20-86 (Figure 1 and Figure 2) intersected 2.36 gpt over 30m from 162.5m. DDMan-20-85 (Figure 1 and Figure 2) intersected 6.01gpt over 7m from 154.3m including 18.0gpt over 2m from 158.3m with the deepest part of the hole intersecting 1.2gpt over 18M from 263.3 to 281.3m increasing the true vertical depth of our Mankouke discovery to 220m and remains open at depth (Figure 3). During the rainy season due to seasonal access issues, we had only 1 rig on Southern Mankouke but now plan to move a second diamond drilling rig to into the area to further expand upon this new discovery zone.

Drilling Highlights: - Diamond Drill Holes

  • 4.78 gpt gold over 24m from drill hole DDMAN21-89 from 7.5m
    • Including 18.1 gpt gold over 1m from 23.5m
      • And 32.9 gpt gold over 2m from 28.5m
  • 2.36 gpt gold over 30m from drill hole DDMAN21-86 from 162.5m
  • 6.01 gpt gold over 7m from drill hole DDMAN20-85 from 154.3m
    • Including 18.0 gpt gold over 2m from 158.3m
    • 1.2gpt gold over 18m from 263.3m

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 4: No top-cut.

Nana Sangmuah, President and CEO, stated, "Hole 89 is an exciting new discovery for Roscan and has the potential to be another high-grade zone which runs parallel to Mankouke South. This new zone confirms our geological thesis of multiple parallel zones that are close to surface, high-grade and can quickly add ounces and scale to the Kandiole project. Hole 89 also emphasizes the value and potential associated with our Western Mankouke land package where a strong geomagnetic signature, coupled with the results of Hole 89, have us quite eager to begin exploration on that land package.

We were extremely pleased to intersect gold mineralization in all 8 holes, reflecting a 100% success rate, while increasing the depth and footprint of our flagship target. What is equally compelling is the continuous intersections of Fresh Rock at Southern Mankouke highlighted by hole 86, which encountered our best gram meter intercept to date in the fresh rock. With several holes now having intercepted gold mineralization in the fresh rock our confidence continues to increase that the feed source of the deposit should culminate in tracing a big system analogous to some of the known large deposits in the region.

As we await the final interpretation of our high-resolution geophysics survey, we remain focused on testing the full potential of our large tenement package, in order to yield more discoveries and expand on the success at Southern Mankouke (Figure 2). With 5 distinct discoveries made in the last 14 months (Southern Mankouke, Kabaya, Kandiole North, Moussala and Wallia), we are very pleased to potentially add a 6th new focus area with this Western Step Out discovery to Mankouke South. Drilling in 2021 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: Cross Section Depicting the Extension to Vertical Depth to 220m - DDMan-20-85

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Figure 3: Geophysics data showing the major structure on Hole DDMAN-21-89

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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.

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 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 gold intersection of 4.78 gpt gold over 24 metres in DDMAN 21 -89 again points out the extensive near surface oxide gold mineralization along this structural corridor.

  • These fresh rock-sulphide intercepts clearly demonstrate an association of gold mineralization with sericite-silica- dolomite/ankerite-albite-magnetite and quartz veining. The style of alteration encountered is typical of other gold deposits found in the region including Sadiola, Loulo Deposits and Fekola.
  • The structural corridor is very evident with this round of drilling and many cross-cutting faults occur, which indicates the extension of the Southern Mankouke mineralization towards the West. The recent acquisition of the Mankouke West permit will allow for drill testing of these extensions as we enlarge the current potential resource footprint.

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Figure 4: Drill Core Photo DDMan-20-85 showing high grade sections mineralization in Fresh Rock

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Figure 5: Drill Core Photo DDMan-21-86 showing broadly high-grade Sections in Fresh Rock

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Figure 6: Drill Core Photo DDMan-21-89 showing broadly high grade of 32.9gpt

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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 (March 08, 2021)

Hole IDFrom (m)To (m)Interval (m)gpt AuComment





Saprolite unless otherwise noted
DDMAN20-8275.577.520.62

88.595.570.82

101.5102.511.27SR

121.5122.511.41SR

185.8186.810.74SR
DDMAN20-8334.535.510.55

143.5144.510.79
DDMAN20-84128.0132.040.53SR

191.0192.013.92FRESH
DDMAN20-85154.3161.376.01FRESH

158.3160.3218.0FRESH

176.3180.341.60FRESH

242.3255.3130.82FRESH

263.3281.3181.20FRESH
DDMAN21-86162.5192.5302.36FRESH QFP

198.5207.590.77FRESH QFP
DDMAN21-87296.1297.118.61FRESH QFP

365.1366.110.63FRESH QFP

450.1457.170.84FRESH QFP
DDMAN21-88225.5228.531.37FRESH QFP

238.5241.531.13FRESH QFP

276.5277.511.33FRESH QFP
DDMAN21-897.531.5244.78

23.524.5118.1

28.530.5232.9

Results Pending



 

Table 2: Drillhole ID Mankouke South (March 08, 2021)

Hole IDX CollarY CollarZ CollarSectionAZMDIP
DDMAN20-8226283013759491791375950270-50
DDMAN20-8326518213895501791389550270-50
DDMAN20-8426285213760511751376050270-50







DDMAN20-852623811375749205137575090-50
DDMAN21-862624561375900177137590090-60
DDMAN21-872623001375950179137595090-50
DDMAN21-882624041375900176137590090-50
DDMAN21-892622761375751172137575090-50

 

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.

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