Toronto, Ontario. – May 4, 2020 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ) is pleased to announce depth continuity in mineralization and positive diamond drill results (Figure 1) from an additional 4 holes totaling 771 metres (m) at its Mankouke South Target.
The drill program has extended the depth of the Southern Mankouke Target from 80m in February 2020 to 120m in mid-April 2020 and to 155m currently (Figure 2). Additionally, drillhole DDMan-20-31 depicts the depth potential to the North. The high grades (Figure 3) over large widths shown with these most recent drill holes have extended the depth of this target.
Highlights from Mankouke South Target:
- 4.84 gpt gold over 62.0m from drill hole DDMan-20-29 from 39.2m;
- Including 12.7 gpt gold over 7.0m from 55.2m
- Including 10.0 gpt gold over 13.0m from 73.2m
- 2.61 gpt gold over 31.0m from drill hole DDMan-20-29 from 110.2m;
- 4.76 gpt gold over 46.0m from drill hole DDMan-20-30 from 50.2m;
- Including 18.6 gpt gold over 2.0m from 61.2m
- Including 11.3 gpt gold over 10.0m from 85.2m
- 2.71gpt gold over 38.0m from drill hole DDMan-20-31 from 127.2m;
- Including 9.81 gpt gold over 5.0m from 156.2m
- 2.18 gpt gold over 4.0m from drill hole DDMan-20-31 from 181.2m.
Notes: 1: True width yet to be determined, 2: Table 1 – Assay Highlights, 3: 0.5gpt used as cut-off with 4m internal dilution, and 4: No top-cut 5. Holes have a dip of -50° and azimuth of 270°
Nana Sangmuah, President and CEO, stated, “We are very pleased with these wide, high grade diamond drill holes results which represent the highest gram- meter intersections to date. These results support a mineralization to an approximate 155m depth which remains open. The geological understanding at our project is clearly improved with this round of drilling. Based on the current dataset it appears there is a northern plunge which is similar to other major deposits in the surrounding area. We continue to drill deeper and along strike to the North to ascertain the limits of the mineralization”.
Figure 1: Plan View delineating Strike Length and High Grades at Mankouke South
Figure 2: Longitudinal View of Mankouke South – Depicting Depth Continuity Progression with time
Figure 3: Cross Section depicting Depth and High Grade - DDMan-20-29
- Mankouke South remains open at depth and long strike to the North;
- Mankouke South Target drilling program continues to test strike, depth and plunge extensions of the mineralized system;
- Geological modelling exercises are currently in progress in order to understand and project this mineralized zone;
- Exploration has not been impacted to date by COVID-19 virus to date.
The gold mineralization at Mankouke South is associated with quartz veining (Figure 4) and/or disseminated and stringer pyrite hosted in brecciated, silicified and locally sheared greywackes and mudstones underlain by interbedded limestones and mudstones of the Kofi Formation. Mankouke South is located approximately 25km east of the Fekola mine (B2Gold Corp.). This mineralized system is structurally aligned with the Mankouke South mineralization that occurs in the structural corridor that also hosts 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.).
Figure 4: Drill Core Photo DDMan-20-29 showing high grade sections from 55.2-62.2m (gossanous oxidized zone) and 73.2-86.2m (disseminated pyrite zone)
Drilling Contract and Analytical Protocol
The drilling contract was awarded to Target Drilling SARL who employ KL900-1 multi-purpose (AC/RC/DD) rig at Mankouke South. The AC drilling contract was awarded to Geodrill and is currently drilling exploration targets.
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.
Table 1: Drillhole Highlights at Mankouke South (May, 4th 2020)
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, P.Eng
Executive Vice President – Corporate Development and Investor Relations Tel: (416) 572-2295
Greg Isenor, P.Geo
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.
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