Investors

News Releases

Roscan Gold Discovers Major New Gold Mineralized Trend at Kandiole North, including a 1,500m Gold Mineralized Strike Length

October 5, 2020

Toronto, Ontario. – October 5, 2020 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ; OTC:RCGCF) is pleased to announce that recent exploration results have outlined a Newly Discovered Mineralized Trend (Figure 1), which contains the Kandiole North Discovery (KN1) (Figure 2). This new Major Mineralized Trend lies parallel to the Major Mankouke Trend. Kandiole North (KN1)(Figure 3), which is the first of potentially many gold bearing mineralization zones within this new trend, extends for an estimated 1,500m to date, and returned high-grades very close to surface (Table 1). 

The 1,500m mineralized zone at Kandiole North is open in all directions and Figure 3 shows the potential to extend it another 2,000m with further drilling. There are 2 additional very exciting but early stage high-grade zones to the South East (KN2) and South West (KN3) of Kandiole North (Figure 1). We will be following up on these new finds and testing multiple targets along this new trend of mineralization at Kandiole North. While very early stage, there is another potential mineralized trend which potentially extends approximately 6km from the Kandiole SE Zone (KN2) to Kabaya Target. (Figure 1 & Figure 2)

Key Major New Discovery Highlights:

  • Kandiole North Major Gold Mineralization Trend
  • Kandiole North Zone (KN1) of 1,500m and potential extension to 3,500m
  • KN 2 and KN 3 Zones with high grades
  • Kandiole North Parallel Trend (KN2 Zone to Kabaya) which is approximately 6km

Air Core Drilling Highlights – Kandiole North Zones:

  • 53.6 gpt gold over 2m from drill hole ACKAN20-350 from 14m
  • 24.0 gpt gold over 2m from drill hole ACKAN20-345 from 10m
  • 8.76 gpt gold over 4m from drill hole ACKAN20-826 from 7m
    • Including 33.4gpt over 1m from 7m
  • And 1.96 gpt gold over 14m from 15m
    • Including 4.70gpt over 4m from 25m
  • 7.48 gpt gold over 2m from drill hole ACKAN20-547 from 36m
  • 4.56 gpt gold over 2m from drill hole ACKAN20-552 from 16m
  • 3.02 gpt gold over 2m from drill hole ACKAN20-782 from 20m
  • 2.51 gpt gold over 16m from drill hole ACKAN20-471 from 24m 
  • 2.03 gpt gold over 14m from drill hole ACKAN20-647 from 36m 
    • Including 6.66 gpt gold over 2m from 40m 
  • 1.86 gpt gold over 12m from drill hole ACKAN20-646 from 36m
  • 1.73 gpt gold over 6m from drill hole ACKAN20-644 from 40m 
  • 1.67 gpt gold over 4m from drill hole ACKAN20-741 from 46m 
  • 1.58 gpt gold over 10m from drill hole ACKAN20-603 from 34m
  • 1.52 gpt gold over 14m from drill hole ACKAN20-787 from 34m
  • 1.19 gpt gold over 8m from drill hole ACKAN20-499 from 34m
  • 1.14 gpt gold over 4m from drill hole ACKAN20-637 from 24m 
  • 1.14 gpt gold over 6m from drill hole ACKAN20-788 from 6m

Notes: 1: True width yet to be determined, 2: Table 1 – Assay Highlights, 3: No top-cut 4: All holes are 270 degree Azimuth and -50 degree Inclination 5: 2m internal dilution.

Nana Sangmuah, President and CEO, stated, “We are excited by the very positive exploration results received to date on this newly outlined major trend outside our main Mankouke South Discovery.  The identification of several mineralized structures on our Kandiole North tenement confirms the significant potential of our land package. We are encouraged by the progress being made to turn our priority targets into discoveries.

There are multiple targets within this large trend and confirming this initial 1,500m of mineralization is a great start as we continue to follow up with RC and DD to establish the boundaries of the mineralized structures. Additionally, the two very high-grade zones KN2 and KN3 of the Kandiole North Mineralization Trend are very encouraging and our technical team on the ground is very excited about the overall potential of the Kandiole North Permit.”

At present we are diamond drilling at Mankouke South, as well as other target areas of the land package, and will update the market with drill results in the near future. In October, we will be conducting a high resolution Airborne Survey to confirm and further define Regional Structures.

To evaluate our high priority Regional Targets such as Kandiole North, we are adopting the same procedures as our Mankouke South Discovery, using Air Core drilling to first test the termite anomalies. When significant results are returned, such as seen at Southern Mankouke and now at Kandiole North, additional follow up AC fence drilling will be done to define strike and grade consistency of mineralization. RC and DD are subsequently initiated to determine depth potential.

These initial 499 AC holes allowed us to observe consistent high grades over a significant interval of 1,500m and the fact that several of the AC holes ended in mineralization bodes extremely well for follow up RC and DD drilling, as well as additional step-out drilling to extend the trend beyond 1,500m and potentially find more new mineralized structures in the surrounding area.

Figure 1: Plan View delineating the Newly Mineralization Regional Trend and Mankouke Trend

Figure 2: Plan View Confirmed 1,500m Trend of Mineralization at Kandiole North 

Figure 3: Plan View of Kandiole North with High Grade Intercepts

Figure 4: Extent of small scale miners (artisanal) at Kandiole North (Pit and Adit Activities)

  • Drill hole ACNan20-350 (KN 2) intersected one of the highest gram meters (53.6gpt over 2m) to date at Kandiole North. This drill hole, when coupled with other high-grade drill holes, shows the persistent high-grade potential of the Kandiole North permit. 
  • Drill hole ACKan20-834 with 19m @ 1.23 gpt and 5m @ 2.54 gpt to ACKan20-787 with 14m @ 1.52gpt lies within a potential mineralized zone of approximately 1,500m. We will continue to drill to clearly define the extents. 
  • Drill hole ACKan20-834 with 19m @ 1.23 gpt and 5m @ 2.54 gpt to ACKan20-039 with 4m @ 11.3gpt suggests a mineralized trend of approximately 3,500m. These holes identify the potential of the deposit to be extended and we will continue to drill to clearly define the extents. 
  • Small scale artisanal mining activities signify the magnitude of this new Major Trend and extension.
  • The New Trend from Kandiole North SE Zone to Kabaya Target, while very early stage warrants additional drilling to connect these two confirmed zones which is approximately 6km.

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 Dataset at Kandiole North Zones – Newly Discovered Mineralization Trend

Hole ID 

From (m)

To (m)

Interval (m)

gpt Au

Comment

ACKAN20-345

10

12

2

24.0

 

ACKAN20-350

14

16

2

53.6

 

ACKAN20-467

10

14

2

1.35

 

ACKAN20-470

32

34

2

2.10

 

ACKAN20-471

12

14

2

2.56

 

 

24

40

16

2.51

 

 

36

38

2

10.1

 

ACKAN20-499

34

42

8

1.19

 

ACKAN20-500

16

18

2

0.64

 

ACKAN20-501

26

28

2

1.40

 

 

46

48

2

1.75

 

ACKAN20-505

12

14

2

0.63

 

ACKAN20-507

6

8

2

1.76

 

ACKAN20-508

4

6

2

0.72

 

 

18

20

2

0.98

 

 

26

28

2

5.31

 

ACKAN20-517

30

32

2

0.64

 

ACKAN20-518

30

32

2

1.14

 

ACKAN20-519

16

18

2

0.63

 

ACKAN20-547

36

38

2

7.48

 

ACKAN20-552

16

18

2

4.56

 

 

22

24

2

0.52

 

ACKAN20-555

12

14

2

0.70

 

ACKAN20-582

46

48

2

0.76

 

ACKAN20-603

34

44

10

1.58

 

ACKAN20-604

16

18

2

1.01

 

ACKAN20-628

12

14

2

0.81

 

ACKAN20-637

24

28

4

1.14

 

 

36

42

6

0.73

 

 

48

50

2

1.57

EOH

ACKAN20-643

12

14

2

0.92

 

ACKAN20-644

24

26

2

0.81

 

 

40

46

6

1.73

 

ACKAN20-645

10

22

12

0.64

 

 

28

38

10

0.89

 

ACKAN20-646

2

4

2

0.56

 

 

12

16

4

0.99

 

 

22

24

2

2.46

 

 

36

48

12

1.86

 

ACKAN20-647

4

8

4

1.54

 

 

36

50

14

2.03

EOH

 

40

42

2

6.66

 

ACKAN20-704

34

36

2

0.70

 

ACKAN20-708

18

20

2

0.93

 

ACKAN20-725

40

44

2

0.83

 

ACKAN20-729

20

22

2

1.74

 

ACKAN20-734

44

46

2

1.08

 

ACKAN20-741

46

50

4

1.67

EOH

ACKAN20-771

18

19

1

0.87

 

ACKAN20-772

12

13

1

0.78

 

ACKAN20-775

9

10

1

0.68

 

ACKAN20-782

20

22

2

3.02

 

ACKAN20-787

24

26

2

0.71

 

 

34

48

14

1.52

 

ACKAN20-788

6

12

6

1.14

 

 

18

20

2

0.71

 

 

38

40

2

0.96

 

ACKAN20-790

12

14

2

1.10

 

ACKAN20-793

30

32

2

0.52

 

ACKAN20-794

2

4

2

0.58

 

 

28

30

2

0.56

 

 

38

40

2

0.69

 

ACKAN20-815

21

22

1

0.70

 

 

28

29

1

3.79

 

ACKAN20-820

3

4

1

0.76

 

 

29

30

1

0.85

 

ACKAN20-825

6

7

1

0.76

 

 

19

20

1

0.78

 

ACKAN20-826

1

4

3

0.62

 

 

7

11

4

8.76

 

 

7

8

1

33.4

 

 

15

29

14

1.96

 

 

25

29

4

4.70

 

ACKAN20-829

34

35

1

0.61

 

 

37

38

1

0.74

 

 

41

46

5

0.74

 

ACKAN20-830

36

37

1

0.50

 

ACKAN20-831

19

20

1

0.69

 

ACKAN20-832

13

15

2

1.01

 

 

43

44

1

0.59

 

ACKAN20-833

12

14

2

1.17

 

 

27

28

1

2.01

 

 

43

45

2

5.92

 

 

43

44

1

10.5

 

ACKAN20-834

0

19

19

1.23

 

 

23

25

2

2.61

 

 

28

33

5

2.54

 

 

30

31

1

8.10

 

ACKAN20-835

0

1

1

1.82

 

 

5

11

6

1.19

 

Table 2: Drillhole Dataset at Collars, Azimuth and Dip

Hole ID

X Collar

Y Collar

Section

AZM

DIP

ACKAN20-345

256797

1383501

1383500

270

-50

ACKAN20-350

256689

1383502

1383500

270

-50

ACKAN20-467

262029

1386699

1386700

270

-50

ACKAN20-470

261954

1386699

1386700

270

-50

ACKAN20-471

261929

1386700

1386700

270

-50

ACKAN20-499

261941

1386542

1386550

270

-50

ACKAN20-500

261915

1386550

1386550

270

-50

ACKAN20-501

261890

1386549

1386550

270

-50

ACKAN20-505

261879

1386354

1386350

270

-50

ACKAN20-507

261828

1386349

1386350

270

-50

ACKAN20-508

261806

1386347

1386350

270

-50

ACKAN20-517

261400

1385521

1385520

270

-50

ACKAN20-518

261376

1385522

1385520

270

-50

ACKAN20-519

261351

1385522

1385520

270

-50

ACKAN20-547

261553

1385948

1385949

270

-50

ACKAN20-552

263263

1385094

1385094

270

-50

ACKAN20-555

263189

1385062

1385100

270

-50

ACKAN20-582

263381

1385697

1386700

270

-50

ACKAN20-603

264004

1383466

1383450

270

-50

ACKAN20-604

263976

1383466

1383460

270

-50

ACKAN20-628

261867

1383302

1383300

270

-50

ACKAN20-637

263229

1383902

1383900

270

-50

ACKAN20-643

263143

1383775

1383775

270

-50

ACKAN20-644

263119

1383776

1383775

270

-50

ACKAN20-645

263093

1383777

1383775

270

-50

ACKAN20-646

263070

1383776

1383775

270

-50

ACKAN20-647

263043

1383776

1383775

270

-50

ACKAN20-704

263960

1387099

1387100

270

-50

ACKAN20-708

263863

1387099

1387100

270

-50

ACKAN20-725

264028

1386755

1386755

270

-50

ACKAN20-729

264077

1386850

1386853

270

-50

ACKAN20-734

260369

1383923

1383918

270

-50

ACKAN20-741

260198

1383900

1383918

270

-50

ACKAN20-771

256783

1383552

1383550

270

-50

ACKAN20-772

256746

1383553

1383550

270

-50

ACKAN20-775

256664

1383552

1383550

270

-50

ACKAN20-782

261697

1385871

1385870

270

-50

ACKAN20-787

261554

1385850

1385850

270

-50

ACKAN20-788

261528

1385849

1385850

270

-50

ACKAN20-790

261473

1385850

1385850

270

-50

ACKAN20-793

261809

1386242

1386245

270

-50

ACKAN20-794

261785

1386244

1386245

270

-50

ACKAN20-815

261880

1386649

1388650

270

-50

ACKAN20-820

261999

1386650

1388650

270

-50

ACKAN20-825

261967

1386745

1386750

270

-50

ACKAN20-826

261945

1386745

1386750

270

-50

ACKAN20-829

262090

1386799

1386800

270

-50

ACKAN20-830

262068

1386799

1386800

270

-50

ACKAN20-831

262042

1386798

1386800

270

-50

ACKAN20-832

262016

1386799

1386800

270

-50

ACKAN20-833

261993

1386796

1386800

270

-50

ACKAN20-834

261968

1386796

1386800

270

-50

ACKAN20-835

261945

1386790

1386800

270

-50

Qualified Person (QP) and NI 43-101 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

Tel: (416) 572-2295 

Email: aramcharan@Roscan.ca  

 

Greg Isenor, P.Geo 

Executive Vice-Chairman

Tel: (902) 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.