Toronto, Ontario. – April 19, 2021 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ; OTC:RCGCF) is pleased to announce positive Diamond and RC drill results (Figure 1) from an additional 12 holes totaling 2,205 meters (m) at our Southern Mankouke Zone (MS1 and MS2).
Mankouke Discovery Zone (MS2)
DDMan21-93 intersected 7.52gpt over 19m from 24.6m (Figure 2) including 21.28gpt over 5m at the recently discovered Mankouke South Discovery Zone (MS2 - March 8, 2021. 4.78 gpt over 24 m in DDH 89) which lies 150m West of the Main Mankouke South Zone (MS1). This new zone is open along strike and at depth. This hole, coupled with RCMAN21-17 (Table 1) which intersected 1.63 gpt gold over 19 m, expands the strike length of the new zone (MS2) to 100 meters and not only remains open but identifies the potential to expand the resource footprint to the north west and connect to our recently acquired Mankouke West land package. The recently discovered area lies directly on trend to the strong geo-magnetic signature that connects Mankouke West, our KN1 discovery area and Kabaya, further to the NE (Figure 4).
Main Mankouke South Zone (MS1)
This recent drilling at Southern Mankouke Zone shows the constant drill success rate with holes DDMan21-91/92 and DDMan21-94 to DDMan21-97 all intersecting gold mineralization (Table 1). The Main Mankouke Zone (MS1) continues to show strong continuity of mineralization with Holes 91 and 94 intersecting over 40m of mineralization respectively over multiple intervals (Table 1) and remains open along strike and depth (Figure 2). DDMan21-89 (Table 1) increased the vertical depth at Main Mankouke South Zone (MS1) of gold mineralization from currently 220m to 300m in Fresh Rock (Figure 3).
Drilling Highlights: - Diamond and Reverse Circulation Drill Holes
Mankouke Discovery Zone (MS2)
• 7.52 gpt gold over 19m from drill hole DDMAN21-93 from 24.6m
Including 21.28 gpt gold over 5m from 36.6m
• 1.63 gpt gold over 19 m from drill hole RCMAN21-17 from 30m
Including 2.42 gpt gold over 8m from 32m
Main Mankouke South Zone (MS1)
• 2.83 gpt gold over 8m from drill hole DDMAN20-95 from 155.5m
including 7.70 gpt gold over 2m from 161.5m
• 1.82 gpt gold over 7m from drill hole DDMAN21-97 from 126.4m
Including 3.63 gpt gold over 3m from 126.4m
• 1.63 gpt gold over 11.8m from drill hole DDMAN21-94 from 168.6m
Including 9.00 gpt gold over 1m from 174.5m
and 1.19 gpt gold over 9m from 198.4m
• and 1.25 gpt gold over 26m from 232.4m
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 are exciting times for Roscan, as we continue to expand upon our recent discovery zone (MS2) proximal to our Main Mankouke South Zone (MS1) which introduces another layer for potential resource growth. Hole 93 confirms our hypothesis for the potential of another high-grade zone, which runs parallel to the Main Mankouke South Zone (MS1). The recently discovered area (MS2) lies directly on trend to the strong geo-magnetic signature of Mankouke West, our KN1 discovery and Kabaya, further to the NE (Figure 4). One of our top priorities in 2021 will be testing for additional mineralization along this trend.
Equally compelling is the continuity of gold mineralization we are seeing at the Main Southern Mankouke Zone (MS1), with holes 91 and 94 intersecting over 40m each of mineralization. Also, at MS1 we now significantly increased the vertical depth into mineralization and fresh rock to 300m really signals we getting to a deep feeder source. The 6 recent distinct discoveries made in the last 15 months (Southern Mankouke, Kabaya, Kandiole North, Moussala, Wallia and MS2), highlights the strong prospectivity of our ground. The recently concluded financing of $15 million dollars, will allow for a robust 2021 drilling campaign which would lead to significant news flow in the coming weeks and months ahead.”
Figure 1: Plan View of the Mankouke Drilling (MS1 & MS2)
Figure 2: Cross Section Depicting the High-Grade at New Discovery Zone (MS2) - DDMan21-93
Figure 3: Cross Section Depicting the Extension to Vertical Depth to 300m - DDMan21-89
Figure 4: Aero-Magnetic data showing the major structure on Hole DDMan21-93 (MS2)
The gold mineralization at Mankouke South is located approximately 25km east of the Fekola mine (B2Gold Corp.). Gold mineralization in Mankouke South occurs within hydrothermally altered and sheared metasediments of the Kofi formation which include greywacke, limestone and diamictite.
The Mankouke South deposit is located within the sheared eastern limb of a fold within hydrothermally altered greywacke-diamictite-carbonate rocks directly above a footwall unit of finely banded and alternating graphitic shale and limestone referred to as the dirty limestone (“DLS”). The Mankouke South mineralization clearly occurs in the rock package above the DLS and has been enriched, upgraded, and concentrated by subsequent folding and shearing of the fold limbs.
• The recent drilling will allow for extensions for both the new discovery zone (MS2) and the Main Mankouke South Zone (MS1) as we enlarge the current potential resource footprint. Both this new discovery (MS2) and Mankouke South (MS1) remain open. The new discovery (MS2) appears to be extending to Mankouke West and linked to deep saprolite targets currently being drilled at Mankouke West.
• Currently two (2) diamond drilling rigs are operating in the area to further expand upon this new discovery zone (MS2) and expand the Main Mankouke South (MS1) footprint. Hitting new verticals depth to 300m from 220m in fresh rock indicates a deeper source.
Figure 5: Drill Core Photo DDMan21-93 showing high grade sections mineralization at MS2
Figure 6: Drill Core Photo DDMan21-94 showing broadly high-grade Sections in Fresh Rock at MS1
Drilling Contract and Analytical Protocol
The drilling contracts were awarded to Foraco, 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 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 Highlights at Mankouke (April 19, 2021)
Table 2: Drillhole ID at Mankouke (April 19, 2021)
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 & Investor Relations
Tel: (416) 572-2295
Greg Isenor, P.Geo
Tel: (902) 221-2329
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.