Toronto, Ontario. – February 8th, 2022 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ; OTCQB:RCGCF) is pleased to announce the positive drill results at Kandiole North (“KN1”). The mineralized envelope is expanding in size (Figure 2) as the Q4 drilling campaign demonstrated the gold mineralization extends both vertically and laterally. The Reverse Circulation (“RC”) drilling program has improved the continuity, consistency, and the knowledge of the geometry of the gold bearing zones. The gold mineralization is now down to 275m depth, and it is open toward North-South and East directions (Figure 3 and Figure 4).
The main mineralized corridor in KN1 trends is N020 with steep easterly dips over more than 1.5 km punctuated with several artisanal work pits. There is a secondary perpendicular mineralized strike steeply north dipping and forming the enlargements at North and South of the RC drilling zone. The broader geochemical anomalies (Figure 1) indicate a strong potential to extend the KN1 gold mineralization.
Notes: 1: True width yet to be determined; 2: Table 1 – Assay Highlights, 3: 0.5gpt used as cut-off with 2m internal dilution, 4: No top-cut.
Nana Sangmuah, President and CEO, stated, “Kandiole North has been returning some great results and shaping up to be another key target to contribute ounces for our maiden resource estimate. The detailed drilling in KN1 spanning a 675m strike length and 275 m depth remains open for further expansion along strike and at depth. Numerous holes ended in mineralization clearly showing the potential at depth. There are multiple targets including KN2, KN3 and KN4 within broader arsenic geochemical anomalies that require further follow up and have the potential to significantly expand the Kandiole North footprint. We are optimistic that these targets within 15 km from our flagship Mankouke South asset would provide incremental feed towards a standalone hub and spoke production scenario at the Kandiole project”.
From the recent multielement analysis of the termite mount samples, arsenic-antimony-bismuth pathfinders highlight the Kandiole corridor and its potential to expand KN1 gold mineralization along this geochemical signature.
We note significant pathfinder arsenic anomalies that have been identified on the broader Kandiole land package and the success achieved to date in confirming gold mineralization along such arsenic footprint in the KN1 structure bodes well for future drilling on these yet to be tested targets. (please refer to Figure 1).
Figure 1 Arsenic from Termite geochemistry
Figure 2 Plan View of the KN1 gold mineralization
Figure 3: Cross Section A-B at Kandiole North Depicting the Depth Potential
Figure 4: Cross Section C-D at Kandiole North Depicting the Depth Potential
The KN1 drilling campaign continues to provide very good grades and increases the dimensions of the mineralized envelope, which should be captured in the upcoming maiden resources.
The deep saprolite displays a narrow structural feature and interpreted as trans-tension NE-SW quartz veins within a NE-SW shear corridor developing some perpendicular extension veining (enlargement gold envelope). The host rock is clastic sediment from fine grain shale to coarser greywacke strongly weathered and the quartz veining gold bearing system is associated with disseminated pyrite and arsenopyrite.
There are other gold occurrences (KN2 and KN4) at the southeast of the permit which clearly require additional follow up drilling on the Siribaya-Mankouke-Seko major structural corridor, which carries several gold deposits.
As previously reported, these targets delivered some significant intercepts as 1.86 gpt gold over 12m, 2.03 gpt gold over 14m, 3.38 gpt gold over 12m, 1.58 gpt gold over 10m from the regional exploration Air core holes. See Figure 2a: Plan View showing high grades at Kandiole North with Strike Length 2km. https://roscan.ca/investors/news-releases/roscan-gold-continues-to-expand-and-upgrade-the-kandiole-north-discovery-with-a-2-000m-strike-length-and-92m-depth-that-remains/.
The KN1 gold mineralization trend appears to be in the same regional structure as Moussala (MO1) gold mineralization (Figures 5). There are still several other auriferous occurrences in the Kandiole North permits to develop, all located in the major Siribaya-Mankouke-Seko regional structure.
Figure 5: Plan View of the Major Trends on our Regional Targets
The gold mineralization at Kandiole North is located approximately 20km east of the Fekola mine (B2Gold Corp.), but also along a prospective NE-SW structural corridor parallel to the main corridor Siribaya-Mankouke-Seko. Gold mineralization in Kandiole North occurs within the metasediments of the Kofi formation.
Drilling and Analytical Protocol
Roscan uses Geodrill Reverse Circulation (RC) to drill until maximum 170m to reach the target.
The samples have sent for preparation to the ALS Laboratories in Bamako, Mali and assayed at their analytical facilities to Ouagadougou for 1 kg Bottle Roll with atomic absorption finish including tail analysis 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 Highlights of Kandiole North (Oct-Dec 2021)
Table 2: Drillhole ID of Kandiole North (Oct-Dec 2021)
Qualified Person (QP) and NI 43-101 Disclosure
Greg Isenor, P. Geo., 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
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