Toronto, Ontario. – January 18, 2022 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ; OTCQB:RCGCF) is pleased to announce positive results (Figure 1) from an additional 22 Reverse Circulation (“RC”) and Diamond Drilling (“DD”) holes totaling 4,920 meters (m) at our Southern Mankouke Zone (MS1 targets). MS1 drilling has confirmed additional mineralization outside currently defined areas and has confirmed MS1’s excellent continuity that will be included in the upcoming resource estimate.
The drilling at the MS1 Target in Mankouke South (the main resources target), demonstrates the mineralization continuity at depth and dipping west, which remains open. The host rock is the clastic sedimentary formations which extend from the surface. The mineralization then goes through the felsic intrusive which crosscut the sedimentary layers. The ultra high-grade zone which lies close to surface has also been reinforced by several holes such as RCDDMan21-136, which carried 4.66gpt over 41 meters from 100m, hole RCDDNAB21-131 with 3.18gpt over 26m from 32 meters and 3.67gpt over 21m from 7m, and hole RCDDMan21-124 with 3.08gpt over 24 meters from 19m.
Mankouke Discovery Zone (MS1)
• 4.66 gpt gold over 41m from drill hole RCDDMan21-136 from 98m
including 4.95 gpt gold over 2m from 107
including 6.56 gpt gold over 2 m from 113 m
including 10.48 gpt gold over 12m from 124m
• 3.67 gpt gold over 21m from drill hole RCDDMAN21-131 from 7m
• 3.18 gpt gold over 26m from 32m
including 7.56 gpt gold over 1m from 32m
including 5.01 gpt gold over 5m from 43m
including 4.77 gpt gold over 3m from 52m
• 4.93 gpt gold over 6m from 65m
• 4.45 gpt gold over 3m from 135m
• 1.69 gpt gold over 37m from drill hole RCMan21-0067 from 5m
including 5.14 gpt gold over 6m, from 19m
• 3.88 gpt gold over 3m from 37m
• 2.35 gpt gold over 13m from 83m
including 9.37 gpt over 3m from 84m
• 1.80 gpt gold over 29m from drill hole RCDDMan21-128 from 235.7m
including 12.64 gpt gold over 1m from 259.7m
• 4.23 gpt gold over 10m from drill hole RCDDMan21-124 from 3m
including 7.51 gpt gold over 5m from 6m
• 3.08 gpt gold over 24m from 19m
• 7.18 gpt gold over 11m from 132.4m
Including 17.4 gpt gold over 1m from 135.4m
Including 18.82 gpt gold over 1m from 139.4m
• 1.18 gpt gold over 38m from drill hole RCMan21-0062 from 47m
Including 3.08 gpt gold over 1m from 77m
• 3.24 gpt gold over 13m from drill hole RCDDMAN21-132 from 20 m
including 7.49 gpt gold over 4m from 21m
• 10.19 gpt over 3m from drill hole RCDDMan21-129 from 114m
• 1.44 gpt gold over 19m from drill hole RCDDMan21-138 from 3m
• 3.37 gpt gold over 9m from 67m
Including 8.59 gpt gold over 3m from 67m
• 5.79 gpt gold over 10m from 118m
including 17.15 gpt gold over 1m from 119m
including 17.77 gpt gold over 1m from 122m
• 3.65 gpt gold over 16m from 130m
including 10.61 gpt gold over 4m from 135.7m
• 8.85 gpt gold over 6.3m from 293.7m
including 50.27 gpt gold over 1m from 297.7m
• 2.09 gpt gold over 13m from frill hole RCMan21-0063 from 44m
including 3.66 gpt gold over 5m from 51m
• 4.34 gpt over 4m
including 12.83 gpt over 1m from 69m
• 2.46 gpt gold over 9 m from drill hole RCDDMan21-130 from114m
• 1.07 gpt gold over 16m from 169.8m
• 1.14 gpt gold over 14m from 215.8m
• 1.15 gpt gold over 10m from 235.8m
• 2.72 gpt gold over 7m from drill hole RCMan21-0064 from 82m
including 5.27 gpt gold over 1m from 82m
including 6.81 gpt gold over 1m from 86m
• 1.51 gpt gold over 10m from drill hole RCDDMAN21-133 from 29 m
including 4.73 gpt gold over 1m from 30 m
• 1.03 gpt gold over 10m from drill hole RCDDman21-135 from 6m
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, “These additional results point to the excellent continuity and high-grade potential at our flagship Mankouke South target, which is the core area for establishing an economic stand-alone project at Kandiole.
The excellent high grade and near surface intersections should support a potential low strip high-margin starter pit, which would further bolster project economics. We’d also like to highlight several high-grade intercepts ending in fresh rock to be followed up with deeper drilling.
With approximately 16,000 metres of assay results pending from MS1, MS3, Kandiole, and other regional targets, we expect continuous newsflow in the coming weeks”.
Main Mankouke South Zone (MS1) – Recent Drilling Confirms Mineralization occurs in the zones which received less density of drilling in the 2020 and 2021 previous drilling campaigns.
Additional results from the main Southern Mankouke Zone (MS1) show the occurrence of mineralization where information was still pending in the geological model, confirming the continuity of the mineralization.
Additionally, Holes RCDDMan21-124, 131, 136,138 and RCMan21-0067 continue to confirm the high-grade nature of MS1, showing that mineralization is clearly defined with consistency over wide intercepts. The MS1 target has been traced over a strike length of 550 meters and as wide as 150 meters in certain parts.
The felsic intrusive displays an important impact in the gold-bearing history, having a major role in the alteration and mineralization event.
Figure 1: Plan View of the Mankouke Drilling (MS1, MS2 and MS3)
Figure 2: Cross Section Depicting Depth Extension with DDMan21-130 at MS1 Section 1375850
Figure 3: Cross Section Depicting East Extension at MS1 – DDMan21-135-136Section 1375950
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 limestone. 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. In MS1 as well as MS3, the gold mineralization is often associated at the felsic intrusion and located in the vicinity of the contact with the clastic meta-sediment layers (greywacke-sandstone-breccia).
Drilling and Analytical Protocol
Roscan uses Reverse Circulation (RC) to drill until 120-150m and continue if it is necessary with a Diamond (DDH) type of drilling to reach the target. For this campaign, Geodrill drilled mainly the RC portion of the holes and Foraco the core to reach the target depth.
The samples are sent for preparation to the ALS Laboratories in Bamako, Mali and assayed at their analytical facilities to Ouagadougou for 1 kg Bottle Roll with atomic absorption finish including tail analysis for results more than 0.05ppm.
Table 1: Drillhole Highlights at Mankouke MS1 – partial results (January 18, 2022)
Table 2: Drillhole Highlights at Mankouke MS1 suite – partial results (January 18, 2022)
Table 3: Drillhole Highlights at Mankouke MS1 suite – partial results (January 18, 2022)
Table 4: Drillhole ID at Mankouke (January 18, 2022)
Qualified Person (QP) and NI 43-101 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.
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:
President & CEO
Tel: (902) 832-5555
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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