Toronto, Ontario. – September 11, 2023 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ; OTCQB:RCGCF) is pleased to announce that it has identified a new high-grade zone of gold mineralization at Mankouke West (Figures 3, 4 and 5) as a result of its systematic regional exploration activities. Discovery holes include RCMAW23-0009 with 3.44 gpt over 31m, including 9.23 gpt over 3m, 8.46 gpt over 3m, 3.75 gpt over 7m, RCMAW23-0001 with 1.72 gpt over 28m, including 5.28 gpt over 6m and RCMAW23-0017 with 1.14 gpt over 50m including 4.08 gpt over 2m (Table 1).
The new discovery is located 2km NW from Mankouke South, close to the area which holds over two thirds of Roscan’s maiden resource. This new zone has been traced so far over an area with a strike length of 450m, 50m wide, and 125m vertical depth, and it is open toward NE and SW and at depth. This gold occurrence lies in a large footprint of about 2km long and 500m wide outlined by saprolite geochemistry with arsenic and antimony pathfinders providing expectation for substantial extensions (Figure 6).
This discovery demonstrates the additional gold potential along the Siribaya-Mankouke-Kabaya-Seko regional structural corridor, which stretches over 20Km through Roscan’s land package. Further drill holes are planned to develop this new gold target, with extensive RC holes, followed by deeper Diamond drill holes.
Nana Sangmuah, President and CEO, stated, “This high-grade discovery remains open on strike for about 2km and at depth and highlights the excellent prospectivity of our tenement package. This points to further resource growth potential outside the limits of known resources. The proximity of this new zone to the main Mankouke South resource area could enhance ore feed to a potential central processing facility. Since December 2022 we have completed about 14,800m RC and 7,400 meters of auger drilling to expand the footprint of current resources and results should be available in the coming weeks”.
Figure 1: Mankouke West location in Roscan land package
Figure 2: Mankouke West, Roscan Airborne Geophysics, Saprolite Geochemistry,
and gold envelope of the new discovery
Figure 3: Mankouke West, drill plan and mineralized envelope
Figure 4: Mankouke West section 1377750 N
Figure 5: Mankouke West section 1377800 N
The new Mankouke West mineralization is located along an NNE-SSW portion (Figure 2) of the NE-SW regional structural corridor as shown in Roscan Airborne Geophysics survey. This corridor extends from Siribaya (IAMGOLD/MANAGEM) to Seko (B2GOLD) passing through Roscan’s land package (Mankouke South, Kandiole, Kabaya and Moussala targets) (Figure 1).
This discovery follows a saprolite geochemistry that initially provided low gold results but strong arsenic and antimony signatures, defining an anomaly over 2km long and 500m wide tested by several scissor Air Core fence lines (80m holes length), which returned a significant 2.12g/t over 12m intercept. The RC holes reported in this press release confirmed the gold occurrence and allowed us to interpret its geometry.
The mineralization occurs mainly in the saprolite horizon. The host rock is clastic sediments rich in quartz veins fragments and iron oxide from sulfides.
The gold mineralization at both Mankouke South and Mankouke West is located on the edge or in the vicinity of an intrusive pluton which is probably cutting the main mineralized body (MS1) with its NW extension contouring it (MS3) as shown in the Electromagnetic Airborne geophysics interpretation (Figure 2). This acid intrusive likely played a role in the hydrothermal activities, carrying gold in the more porous or brittle host rock.
Figure 6: Plan View of Mankouke West
Drilling and Analytical Protocol
Roscan uses Geodrill Reverse Circulation (RC) to drill until maximum 170m to reach the target. In 2021, (Air Core holes ACMAW22-1158-1162), the samples were sent for preparation to Bureau Veritas’ Bamako laboratory and 1 kg Bottle Roll with atomic absorption finish analysed in BV lab, Abidjan. Since January 2022, the samples are sent to the ALS Laboratories in Bamako, Mali and assayed at their analytical facilities in Ouagadougou for 2 kg Bottle Roll with atomic absorption finish including tail analysis by fire assays for results more than 0.05ppm. Roscan applied industry-standard QA/QC procedures to the program using reference materials, blanks, standards, and duplicates.
Table 1: Drillhole Dataset at Mankouke West
Table 2: Mankouke West Drillhole Dataset at Collars, Azimuth and Dip
Qualified Person (QP) and NI 43-101 Disclosure
Greg Isenor, P. Geo., Non-Executive 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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