Toronto, Ontario. – January 10, 2023 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V:ROS; FSE:2OJ; OTCQB:RCGCF) is pleased to announce positive drilling results (Figures 1 and 4) from an additional program consisting of 41 Reverse Circulation (“RC”), 14 Air Core (AC) and 2 Diamond Drilling (“DD”) holes totaling 6,153 meters (m) at our Southern Mankouke Zone.
The results confirm additional mineralization and the continuity of mineralization between the main mineral resources of MS1 and its satellite at MS3. In addition, significant mineralization near the surface and in the fresh rock at depth, allows for a southern pit shell extension with the capturing of these potential additional ounces.
• 1.1 gpt gold over 29m from drill hole RCMan22-0094 from 8m
including 5.15 gpt gold over 1m from 32 m
and 1.55 gpt gold over 31m from 103m
including 5.36 gpt over 4m from 107m
• 1.07 gpt gold over 29m from drill hole DDMan22-140 from 0m
including 3.8 gpt gold over 3m from 0m
• 1.39 gpt gold over 16m from drill hole DDMan22-139 from 80m
and 1.64 gpt gold over 10m from 328.5m
• 1.27 gpt gold over 15m from drill hole RCMan22-0089 from 69m
Including 4.87 gpt gold over 2m from 72m
• 1.23 gpt gold over 9m from drill hole RCMan22-0091 from 10m
and 1.94 gpt gold over 4m from 115m
including 4.05 gpt over 1m from 118m
• 1.42 gpt over 6m from drill hole RCMan22-0085 from 163m
Including 5.03 gpt gold over 1m from 167m
• 1.02 gpt gold over 8m from drill hole RCMan22-0090 from 155m
• 1.13 gpt gold over 6m from drill hole RCMan22-0082 from 138m
including 4.41 gpt gold over 1m from 142m
and 1.82 gpt gold over 6m from 160m
including 4.08 gpt gold over 2m from 160m
• 3.43 gpt gold over 23m from drill hole RCMan22-0107
Including 5.19 gpt gold over 13m from 7m
• 1.76 gpt gold over 8m from drill hole RCMan22-0108 from 33m
• 1.4 gpt gold over 10m from drill hole ACMan21-1253 from 0m
• 1.46 gpt gold over 9m from drill hole RCMan22-0104 from 0m
• 1.11 gpt gold over 10m from drill hole ACMan21-1255 from 22m
Notes: 1: True width yet to be determined, 2: Table 1 – Assay Highlights, 3: 0.5gpt used as cut-off with 4m internal dilution for drill holes, and 4: No top-cut.
Nana Sangmuah, President and CEO, stated, “These additional infill drill results and step out drill results point to further growth in our resource footprint declared in our maiden Mineral Resource Estimate (MRE). We are encouraged by the continuity and high-grade mineralization at our flagship Mankouke South target, which should be the core for establishing an economic stand-alone project at Kandiole. The ~ 30Mt of the resource estimation established so far at Kandiole, indicates that this project is on track to be a potential low strip high-margin oxide operation with potential for significant sulphide feed at depth, which should bolster project economics”.
Mankouke South (MS1-MS3)
The last drilling campaign at Mankouke South confirmed a strike length of gold mineralization of 1.1 km, with 150m in the thickest portion, and with 360m vertical depth. The gold mineralized body of Mankouke South represents 66% of the total resource estimates of the Kandiole project with an average gold grade of 1.6g/t at 0.5 g/t cut-off (June 8, 2022, Press Release) within a pit of 315m for the deepest part and with an average strip ratio of 2.7:1.
These gold intercepts add to the upside potential of current mineral resources within applied $1,500 USD pit shell design (June 8, 2022, Press Release), as well as in the MS1-MS3 connection in the Southern part. The next drilling program goal will be the development of these gold extensions to include them into the next resource estimation update.
The gold results, along with the felsic intrusive occurrence carrying the mineralization, support the thesis of continuity of the model at depth, bringing together MS1 and MS3 into one mineralized body, which remains open. The gold is also associated with a brittle structure, yielding a strongly altered brecciation visible, for example in the DDMan22-139.
The North-West fence exploration indicates a possible extension of gold mineralization in the NW direction at MS3.
The structural and airborne geophysics interpretations, in addition to the extrapolation of the Siribaya mineralized parallel zones (Zone A and B) in the southern permit, suggest a possible gold mineralization duplication in the unexplored zone at East of MS1. Several reconnaissance holes are planned.
The Mankouke Center gold mineralization, located 4km North from Mankouke South, occurs as the thick gold enrichment at the surface (35m width) and a possible continuity of the mineralization root of this to the East.
At Mankouke Central the gold mineralization strike length reached 420m. The root is pinching around 90 m vertical depth. The mineralization could pinch, as in Mankouke South, in the base of the clastic sediment package, and resumes at depth, around the felsic intrusion, where the fractured to the brecciated zone is mineralized.
Figure 1: Plan View of the Mankouke South Drilling (MS1, MS2 and MS3)
Figure 2: Cross Section Depicting Depth Extension with RCMann22-0094 at MS1 Section 1375600
Figure 3: NS-SE Cross Section, link between MS1 and MS3
Figure 4: DDMann22-139 photo gold intercepts
Figure 5: Plan view of Mankouke Center Drilling
Figure 6: Mankouke Center cross section 1380600N
The pull-apart basin disseminated gold mineralization type, repeated from Siribaya/Mankouke South/Mankouke Central/Kabaya and further the Oklo’s deposits in the continuous structural corridor, well-marked on the airborne geophysics magnetic and electromagnetic surveys, demonstrate a major regional structure occurrence over more than 40 km, open toward the South and the North, underneath the upper Proterozoic sandstone. The gold-bearing structure size at the surface suggests a deep sheared zone favoring the acid intrusions comings accompanied by the different hydrothermal phases carrying alteration and gold. Some additional deep holes are needed to evaluate the high-grade gold potential along this major structural corridor.
The Mankouke South disseminated gold mineralization is located within the brittle zone above a footwall unit of finely banded and alternating graphitic shale and limestone referred to as the carbonaceous bedded mudstone. The gold mineralization is associated with faults zones, quartz veins, and breccias, as well as a strong alteration, mainly albite, silicification, ankerite, and chlorite, with sulfite occurrences (pyrite, arsenopyrite). In MS1, as well as MS3, the felsic intrusion seems to play a major role in gold mineralization.
The gold mineralization at Mankouke Center is also disseminated in the clastic sediment unit strongly saprolitized, mainly associated with debris flow lithology in the vicinity of a felsic intrusion.
Drilling and Analytical Protocol
Roscan uses Geodrill Reverse Circulation (RC) to drill until maximum 170m to reach the target and Foraco to drill diamond hole, using PQ size rods in the saprolite and HQ size in the fresh rock.
The DD and RC samples have been sent for preparation to the ALS Laboratories in Bamako, Mali and assayed at their analytical facilities to Ouagadougou for 1 kg Bottle Roll for DD and 2kg Bottle Roll for RC with atomic absorption finish including tail analysis by 50g Fire Assays for results more than 0.05ppm. AC samples were prepared by Bureau Veritas Bamako and sent to Bottle analysis at their Abidjan Laboratory. Roscan applied industry-standard QA/QC procedures to the program using reference materials, blanks, standards, and duplicates.
Table 1: Drillhole Highlights at Mankouke South
Table 2: Drillhole Highlights at Mankouke South
Table 3: Drillhole Highlights at Mankouke Center
Table 4: Drillhole ID at Mankouke
Qualified Person (QP) and NI43-101 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
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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