Roscan Gold Intersects 3.5gpt over 17m in Fresh Rock at MS3 and 3.31gpt Gold over 16m at MS1 as Sulphide Zone Broadens at Depth

Toronto, Ontario--(Newsfile Corp. - August 17, 2021) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTC Pink: RCGCF) ("Roscan" or the "Company") is pleased to announce positive results (Figure 1) from an additional 17 DD and RC holes totaling 2,956 meters (m) at our Southern Mankouke Zone (MS1 and MS3).

These results continue to confirm that mineralization is open at depth in fresh rock at MS1 with a broader zone. In addition, drilling at MS3 continues to expand the footprint to a mineralization envelope size that is now at 300m E-W, 200m N-S, and 10 to 40m width. More importantly, it appears that a consistent high-grade zone has been traced to a vertical depth of 120m, ended in fresh rock and remains open.

Drilling Highlights:

Mankouke Discovery Zone (MS3)

  • 3.53 gpt gold over 17m from drill hole RCMAN21-55 from 121m

  • 4.06 gpt gold over 5m from drill hole RCMAN21-51 from 67m

▪ and 2.79 gpt gold over 11m from 73m

  • 4.43 gpt gold over 5m from drill hole RCMAN21-48 from 42m

Mankouke Discovery Zone (MS1)

  • 3.31 gpt gold over 16m from drill hole DDMAN21-116 from 258.4m

Including 11.97 gpt gold over 3m from 260.4m
and 1.48 gpt gold over 12m from 284.4m

  • 11.03 gpt gold over 3m from drill hole DDMAN21-114 from 126.5m

▪ and 3.21 gpt gold over 5m from 155.5m

  • 3.43 gpt gold over 9m from drill hole DDMAN21-112 from 141.5m

▪ Including 5.84 gpt gold over 4m from 141.5m

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 4: No top-cut.

Mankouke Discovery Zone (MS3) - Potential High-Grade Extension at Depth to the East

At MS3, the mineralization is close to surface and commences in the saprolite. The gold envelope shows a folded shape with dimensions of 300 m E-W, 200 m N-S, and 10 to 40m width.

The mineralization is open to the West, North, and East, while toward the South, it could be seen as an extension of MS1 displaced by a fault. The East fold limp displays a good consistency with significant high-grade intercepts (DDMan20-59 with 20m @ 3gpt, RCMan21-22B with 17m @ 3.3 gpt and RCMan21-55 with 17m @ 3.53 gpt). There is also a felsic intrusive occurrence that can be traced to a depth of 200m vertical. We note that this unit can also be mineralized as it evidenced at MS1 and has yet to be fully tested in MS3.

Main Mankouke South Zone (MS1) - Mineralization Continues to Open at Depth

At MS1, the last diamond drill holes continue to show good continuity at depth and laterally in the sulfide fresh rock. Drill Hole DDMAN21-116 with 16m @ 3.31 gpt, located 100m North from DDMAN21-104B (with 25m @ 2.02 gpt - see July 6th, 2021 Press Release), shows the wide broadening of the sulphide at depth at consistent high grade, which remains open and has yet to be tested.

The mineralization is strongly associated with the alteration mainly albite-carbonate-silicification, pyrite-arsenopyrite assemblage and often with the occurrences of quartz veins and veinlets network but also fractured rock.

The mineralization envelope fits very well in the alteration halo wireframe. These diamond holes also show that the felsic intrusion played an important role during the mineralization by hydrothermal gold mobilization or remobilization. Gold is in the sedimentary package at the top and limited by the footwall, which is carbonaceous bedded mudstone, in discordance with the gold-bearing folded clastic-limestone sequence.

The gold mineralization is open at depth and laterally, following the felsic intrusive toward the North and the South which fortunately crosses the barren footwall, allowing the mineralization to extend deeper.

Nana Sangmuah, President and CEO, stated,

"We continue to be very excited as the mineralization of our Mankouke South flagship continues to expand, now with the doubling of the MS3 footprint, which remains open to the West-East and at depth.

"At MS1, we are also very pleased by the broadening of the sulphide zone at depth with consistent high-grade intercepts, pointing to the feeder zone opening up at depth.

"We expect a busy 2nd half of 2021 with a further 20,000m of assays to come from our Mankouke West, Mankouke South, Mankouke Centre, Kabaya KB4, Dabia South and Moussala MOU1 targets in addition to delivering our maiden resource estimate by year end."

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Figure 1: Cross Section Depicting Depth Extension with DDMan21-116 at MS1.

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Figure 2: Cross Section Depicting East Extension at MS3 - RCMan21-55.

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Geology

The gold mineralization at Mankouke South is located approximately 25km east of the Fekola mine (B2Gold Corp.), but also along a prospective major NE-SW structural corridor from Siribaya-Diaka (IAMGOLD Corporation) to Seko (Oklo Resources Limited). Gold mineralization in Mankouke South occurs within hydrothermally altered and sheared metasediments of the Kofi formation which include greywacke, limestone and diamictite but also in the edge of a felsic intrusive cross cutting the sedimentary package.

The Mankouke South mineralization is located within the sheared eastern limb of a fold directly above a footwall unit of finely banded and alternating graphitic shale and limestone referred to as the dirty carbonaceous mudstone. The border north of the mineralization corresponds with the edge of a NE-SW conductive zone from the geophysics surveys but MS3 also overlays the beginning of a Nord East conductive lineament. The gold mineralization is associated with a strong alteration over several lithologies, mainly albite, silicification, ankerite and chlorite, with the sulfite occurrences (pyrite, arsenopyrite) but also fracturing and quartz veins and veinlets.

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Figure 3: Drill Core Photo DDMan21-116 showing high-grade sections mineralization in the altered felsic intrusive at MS1.

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Drilling Contract and Analytical Protocol

Roscan uses Air Core (AC), Reverse Circulation (RC) and Diamond (DDH) types of drilling in the Kandiole Projects. The Air Core drilling is mainly applied to drill early exploration targets.

The samples are sent for preparation to the Bureau Veritas Mineral Laboratories in Bamako, Mali and assayed at their analytical facilities for fire assay with atomic absorption finish and by gravimetric finish for grades above 10gpt Au.

Table 1: Drillhole Highlights at Mankouke (August 16th, 2021)

Hole IDFrom (m)To (m)Interval (m)gpt AuComment
DDHMan21-112126.5134.581.40Saprock
including132.5133.513.54Saprock
141.5150.593.42Saprock
including141.5145.545.84Saprock
160.5161.510.66Saprock
168.5169.510.73Saprock
172.5174.520.87Fresh Rock
189.4192.430.57Fresh Rock
DDHMan21-1146.515.590.90Laterite
including8.59.512.16Laterite
including14.515.512.45Mottled zone
21.522.510.52Saprolite
52.553.511.01Saprolite
71.574.532.34Saprolite
79.581.521.07Saprock
97.5102.550.90Saprolite
107.5111.540.54Saprolite
121.5122.511.88Saprolite
126.5129.5311.03Saprolite
136.5142.563.95Saprolite
150.2152.52.30.98Saprolite
155.5160.553.21Saprolite
including155.5156.516.51Saprolite
170.5171.512.04Saprolite
178.5179.510.78Saprolite
DDHMan21-11618.619.613.67Saprolite
243.4246.431.22Fresh Rock
251.4253.421.70Fresh Rock
258.4274.4163.31Fresh Rock
including260.4263.4311.97Fresh Rock
280.4281.412.65Fresh Rock
284.4296.4121.48Fresh Rock
including287.4288.415.39Fresh Rock
DDHMan21-11728.636.681.95Saprolite
including34.635.616.41Saprolite
40.644.640.49Saprolite
341.7347.761.13Fresh Rock
396.7403.770.57Fresh Rock
429.7430.711.00Fresh Rock
RCMan21-3847.048.011.57Saprolite
RCMan21-4317.022.052.19Saprolite
25.026.011.46Saprolite
RCMan21-449.010.010.80Laterite
16.017.010.88Saprolite
57.060.031.83Saprolite
RCMan21-4510.013.030.62Laterite - Saprolite
16.019.031.64Saprolite
including17.018.013.51Saprolite
26.028.023.07Saprolite
RCMan21-471.02.010.54Laterite
12.017.051.16Saprolite
RCMan21-4819.021.022.27Saprolite
32.033.010.65Saprolite
38.041.031.55Saprolite
42.047.054.43Saprolite
52.053.011.07Saprolite
61.065.040.95Saprolite
RCMan21-4917.018.015.04Saprolite
23.024.011.00Saprolite
71.082.0110.80Fresh Rock
including71.072.012.29Fresh Rock
111.0113.021.54Fresh Rock
130.0131.010.85Fresh Rock
RCMan21-5092.093.011.29Fresh Rock
111.0112.013.39Fresh Rock
128.0129.011.32Fresh Rock
RCMan21-5123.024.011.34Saprolite
57.058.010.74Saprolite
63.066.032.08Saprolite
67.072.054.06Saprolite
including68.069.018.75Saprolite
73.084.0112.79Saprolite
including75.076.017.19Saprolite
including83.084.016.00Saprolite
85.091.060.61Saprolite
RCMan21-52103.0104.010.87Fresh Rock
113.0114.010.77Fresh Rock
124.0126.020.88Fresh Rock
RCMan21-5378.079.010.91Fresh Rock
148.0149.010.50Fresh Rock
RCMan21-5441.042.010.75Saprolite
54.055.010.66Saprolite
67.069.021.08Fresh Rock
RCMan21-55108.0110.022.47Fresh Rock
121.0138.0173.53Fresh Rock
including122.0123.0112.00Fresh Rock
including126.0127.018.84Fresh Rock
including131.0132.017.24Fresh Rock

 

Table 2: Drillhole ID at Mankouke (August 16th, 2021)

Hole IDX CollarY CollarZcolarSectionAZMDIPEOH
DDHMan21-110 (*)2620251375751161137575090-5088.3
DDHMan21-111 (*)2621981375801179137580090-50186.2
DDHMan21-1122624941375850187137585090-50260.4
DDHMan21-113 (*)2621711375760167137576090-50155.4
DDHMan21-1142626431376000171137600090-60204.0
DDHMan21-115 (*)2625251376002187137600090-50251.8
DDHMan21-1162623601375850179137585090-50401.4
DDHMan21-1172622281375751173137575090-50470.7
RCMan21-3826247513760501741376050270-50120.0
RCMan21-39 (*)2623501376050205137605090-50106.0
RCMan21-40 (*)26234713760501981376050270-50120.0
RCMan21-41 (*)2622251376050182137605090-50120.0
RCMan21-42 (*)2622571375850197137585090-50100.0
RCMan21-43 (*)2622661375900186137590090-5080.0
RCMan21-442622491376425173137590090-5080.0
RCMan21-452623001376425174137642590-50120.0
RCMan21-46 (*)2622501376425181137642590-50147.0
RCMan21-4726250013764251731376425270-50120.0
RCMan21-482623501376275185137627590-50100.0
RCMan21-492623011376274178137627590-50150.0
RCMan21-502622501376275183137627590-50150.0
RCMan21-512623501376225181137627590-50100.0
RCMan21-522623001376222219137622590-50150.0
RCMan21-532622501376322182137622590-50150.0
RCMan21-542622251376367180137637090-50150.0
RCMan21-5526257413763681771376370270-50150.0

 

(*) Not Significant Results

Qualified Person (QP) and NI43-101 Disclosure

Greg Isenor, P. Geo., Director 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:

Greg Isenor, P.Geo
Director
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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