Bedford, July 22, 2019 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS) is pleased to announce the positive assay results from both its diamond drilling and air core (AC) drilling programs at its Kandiole Project in Mali, West Africa. This drilling program was completed during April to July of 2019 and was designed to test both the north and south extensions of the Mankouke gold discovery zone and many other strong termite and soil, gold anomalies. The Mankouke gold discovery has been shown, by detailed drilling, to have a strike length of at least 500 metres. In addition, the recent very impressive AC drilling assay results at the southern end of the Mankouke permit, as shown in Figure 1, supports the existence of a 7-kilometer long mineralization target corridor associated with the Mankouke discovery.
In hole ACMan 19-167 5.86 g/t Au over 26.0 m (incl. 9.44 g/t Au over 10.0 m)
In hole ACMan 19-168 3.74 g/t Au over 30.0 m (incl. 6.73 g/t Au over 6.0 m)
In hole DDH 19-04 8.63 g/t Au over 10.0 m (incl. 11.48 g/t Au over 7.0 m)
In hole DDH 19-03 6.53 g/t Au over 5.0 m (incl. 10.09 g/t Au over 3.0 m)
In hole DDH 19-03 5.56 g/t Au over 3.0 m (incl. 7.14 g/t Au over 2.0 m)
In hole DDH 19-08 3.45 g/t Au over 10.0 m (incl. 6.76 g/t Au over 3.0 m)
Note: True widths cannot be determined with the information available A summary of all assay results is presented in Table 1.
Greg Isenor, President and CEO of Roscan Gold stated “We are continuing to show that we have an excellent new gold discovery at Mankouke that appears to have strike and depth continuity. Our land package has great potential and we are extremely encouraged by the hits we are seeing on the Mankouke permit. There are many assays yet to be received and these will be available in the coming weeks. We are extremely pleased our approach to exploration in this area has been successful. Additional drilling is part of an obvious next step.
The drilling around the Mankouke discovery shows that a strong mineralization system exists and is” alive”. This is not supergene mineralization. We have drilled 19 core holes and have received results for 11 and have significant assays in 8 of the 11 holes. We are waiting for results for both AC and DDH on the north extension of the trend. (See fig 2). Deeper holes are planned when we return to drilling after the rain season. The drilling season is over for a few months, however many results yet to be received. We have the funds to continue drilling after the seasonal rains (July to October). In addition, the excellent AC results we received in the south of the Mankouke permit (see fig 1) will be followed up as soon as possible.”
The drilling was carried out during the period May to July with two rigs, one air core drilling rig and one multi- purpose diamond drilling rig. The diamond drilling was completed in the Mankouke discovery zone area and designed to test for extensions to the zone. The drilling program has been suspended until the end of the rainy season. At this point in the drilling program, there has been 19 diamond drill holes completed for a total of 2,017 meters. Assay results have not been received for eight diamond drill holes. See Figure 2.
A total of 607 AC holes were drilled for a total meterage of 28,037 metres. Approximately 60% of the assays of the AC drilling have been received. The AC drilling covered the entire land package with testing the most important termite anomalies. Lines of AC holes were drilled across the target areas generally in an east-west direction and drilled at -50 degrees to the west to a depth of 45 to 60 metres in a heel to toe fashion. AC drilling is used to sample unconsolidated ground with compressed air used to remove the cuttings from the hole. During the Kandiole drilling program, 2 metres long samples were collected. For each 2 metre intersection an ~2-kilogram sample was collected and sent to the laboratory. A check sample of approximately 5 kilograms was collected for possible future tests.
The gold mineralization intersected to date in the Mankouke Zone is hosted in breccia zones which are interbedded with saprolitic metasediments. Recent core holes have intersected gold mineralized breccia (8.63 g/t Au over 10 metres from 79.1 metres to 89.1 metres along the drill hole) at a vertical depth of 60 metres. This drilling indicates that the initially reported gold discovery (News Release January 24, 2019) has “roots” and is not near surface enrichment (supergene). This drilling information clearly shows the potential at depth in this area and identifies that this is typical Birimian, hydrothermal-type gold mineralization.
Additional interpretation will be completed when all data is available.
Remaining assays will be received and processed during the rainy season. It is expected that drilling will resume as early as mid-October and will primarily consist of both diamond drilling, to test for both the extensions of the Mankouke gold discovery, and, to test significant AC intersections identified in other areas of the property. In addition, AC drilling will be continued to test the remaining, untested termite and gold soil anomalies.
QUALIFIED PERSON AND SAMPLE PROTOCOL
The technical content in this news release has been reviewed and approved by Gregory P. Isenor, P. Geo, a Qualified Person as defined by NI 43-101.
For quality control, duplicated samples were systematically collected in the field, and blank samples were inserted in the sample batches sent to the laboratory. Before their transportation, the samples were stored in a Roscan secured location in the field. Batches of samples were transported by truck, driven by Roscan contractors, to the Bureau Veritas laboratory sample preparation installation of in Bamako; prepared samples were then shipped by Bureau Veritas to their treatment installation at Abidjan, Ivory Coast. During the assay process, the laboratory applied its own quality controls with blanks, duplicates and standard samples. The assay method was atomic absorption (AA) with pre-concentration by fire assay (FA); the detection limit of the method is of 5 ppb.
Roscan Gold Corporation is a Canadian gold exploration company focused on the acquisition and exploration 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
President and Chief Executive Officer 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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