Toronto, Ontario. – February 27, 2020 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ) is pleased to announce positive drill results for the first 50 holes totaling 2,773 metres (m) of its Exploration Program (Mankouke South Target) at its 100% owned Kandiole Gold Project (“Project”) in west Mali, West Africa.
The drill program proves extension at depth with the recent 2 Diamond Drill Holes (Figure 2) and wide intersections (Figure 2, Figure 3 and Figure 4) at Mankouke South Target. Encouraged by these results, high grades (Table 1), and strike extension (Figure 1), Roscan plans to triple its current drill program to 30,000m and add a second drill.
- 3.18 gpt gold over 88.0m from drill hole DDMan-20-20 from 4.7m;
- Including 17.10 gpt gold over 1.0m from 8.7m
- Including 23.30 gpt gold over 3.0m from 27.7m
- Including 12.40 gpt gold over 7.0m from 38.7m
- 4.18 gpt gold over 40.0m from drill hole DDMan-20-21 from 62.3m;
- Including 8.49 gpt gold over 11.0m from 66.3m
- Including 5.54 gpt gold over 5.0m from 89.3m
- 8.68 gpt gold over 39.0m from drill hole ACMan-20-312 from 6.0m;
- Including 19.10 gpt gold over 16.0m from 8.0m
- Including 62.90 gpt gold over 3.0m from 18.0m
- 12.10 gpt gold over 20.0m from drill hole ACMan-20-314 from 22.0m;
- Including 70.80 gpt gold over 3.0m from 26.0m
- 3.71 gpt gold over 48.0m from drill hole ACMan-20-288 from 2.0m;
- Including 8.15 gpt gold over 10.0m from 30.0m
- 2.41 gpt gold over 49.0m from drill hole ACMan-20-289 from surface; and
- Including 15.10 gpt gold over 3.0m from 8.0m
- 3.63 gpt gold over 15.0m from drill hole ACMan-20-290 from surface;
- Including 34.60 gpt gold over 1.0m from 12.0m
Notes: 1: True width yet to be determined, 2: Table 1 – Assay Highlights, 3: 0.5gpt used as cut-off and 4: No top-cut 5. Holes have a dip of -50° and azimuth of 270°
Nana Sangmuah, President and CEO, stated, “These drilling results showed the consistency of mineralization along a major trend across our property and highlight the depth, grade and width potential. To date, all 6 Sections over 500m drilled have intercepted high-grade mineralization – this high success rate also indicates the potential for the expansion of the target. Roscan is progressing with an updated aggressive drill program that plans to triple the current drill program to 30,000m and add a second drill. Our 2020 exploration program is off to a great start and we feel very encouraged by the initial results which prompted our decision to add an additional drill to expand our drill program.”
Figure 1: Plan View delineating strike length and high grades at Mankouke South
Figure 2: Section 1 – Depicting Depth and Width Continuity, & AC Drilling vs Diamond Drilling
(see PDF version of this release for figures)
- Diamond Drilling (DD) confirmed both depth and width potential of mineralization on previously drilled fence 1375850N
- 2019 AC Drillhole ACMAN19-167 returned an average grade of 4.55gpt over the entire 50m hole and the twinned Diamond Drillhole, DDMan20-20, in 2020, returned 4.46gpt over the first 50m. This gave us confidence in our AC drilling to delineate our targets before deeper diamond drilling.
Figure 3: Section 2 – Depicting Depth and Width Continuity, with high grades
Figure 4: Section 3 - Depicting Depth and Width Continuity, with high grades at end of holes
- Mankouke South remains open to the North with new high-grade drill results
- Positive drilling results indicate potential for additional gold deposits and mobilization of an additional drill will commence shortly
- We are currently conducting 3 dimensional modeling exercises of these holes to confirm our Geological Model
Regional Exploration Program
- Other Kandiole Area ongoing exploration includes:
- Ground geophysical orientation surveys at Mankouke South and Mankouke Central have been completed and we are waiting for the interpretation before deep diamond drilling commences
- Bulldozer has cleared the Kandiole West Target for exploration works. This zone is located approximately 8km East of Fekola Mine (B2Gold)
- Termite Mound Sampling is ongoing with 316 samples on a 100m x 50m grid over the Mankouke South Extension and 200m x 50m grid over the Kandiole North area
The gold mineralization at Mankouke South is associated with quartz veining and/or disseminated and stringer pyrite hosted in brecciated and locally sheared greywackes and mudstones underlain by interbedded limestones and mudstones of the Kofi Formation about 25km east of the Fekola mine (B2Gold Corp.). This mineralization is structurally aligned with the Siribaya deposits to the South (IAMGOLD Corp.), Roscan’s Mankouke Central prospect along the 7km long Mankouke Corridor Target, and our neighbors to the North (Oklo Resources Ltd.). Saprolitic alteration is approximately 100m deep based on our geological interpretation at this time.
Drilling Contract and Analytical Protocol
The drilling contract was awarded to Target Drilling SARL who employ KL900-1 multi-purpose (AC/RC/DD) rig. Drill holes for which results are reported were drilled from January 18 to February 11, 2020.
All drill samples are sent for preparation to Bureau Veritas Mineral Laboratories in Bamako, Mali and transported by Bureau Veritas to their analytical facility in Abidjan, Ivory Coast for fire assay with atomic absorption finish and by gravimetric finish for grades above 10 gpt Au. Roscan applied industry- standard QA/QC procedures to the program. Certified reference materials, blanks and field duplicates are inserted at appropriate intervals.
Some highlighted results (July 22, 2019) from Southern Mankouke Discovery are shown below:
- 4.50 gpt gold over 16.0 metres from drill hole ACMan-19-167;
- 5.86 gpt gold over 26.0 metres from drill hole ACMan-19-167;
- 3.00 gpt gold over 10.0 metres from drill hole ACMan-19-168;
- 3.74 gpt gold over 30.0 metres from drill hole ACMan-19-168; and
- 6.13 gpt gold over 6.0 metres from drill hole ACMan-19-166.
Table 1: Drillhole Highlights for Initial 2020 Exploration Drilling (see PDF version of this release for table)
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.
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
Executive Vice President – Corporate Development and Investor Relations Tel: (416) 572-2295
Executive Vice-Chairman Tel: (902) 832-5555
Forward Looking Statements
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