Toronto, Ontario. – October 22, 2020 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ; OTC:RCGCF) is pleased to announce a New Major Gold Discovery at Walia from the ongoing regional exploration program (Figure 1). This new Mineralized Trend extends for an estimated 1,500m to date, and returned high-grades of 21.4gpt over 8m including 77.8gpt over 2m very close to surface (Table 1). This new discovery is open in all directions.
Air Core Drilling Highlights – Walia:
- 21.4 gpt gold over 8m from drill hole ACDBS20-395 from 26m
- Including 77.8 gpt gold over 2m from 30m
- 11.4 gpt gold over 2m from drill hole ACDBS20-228 from 0m
- 7.96 gpt gold over 2m from drill hole ACDBS20-144 from 2m
- 4.05 gpt gold over 4m from drill hole ACDBS20-221 from 34m
- 3.59 gpt gold over 4m from drill hole ACDBS20-418 from 30m
- 3.06 gpt gold over 2m from drill hole ACDBS20-140 from 2m
- 2.78 gpt gold over 2m from drill hole ACDBS20-158 from 6m
- 2.43 gpt gold over 4m from drill hole ACDBS20-406 from 22m
- 2.31 gpt gold over 2m from drill hole ACDBS20-325 from 18m
- 2.20 gpt gold over 4m from drill hole ACDBS20-407 from 14m
- 2.19 gpt gold over 4m from drill hole ACDBS20-204 from 8m
- 1.95 gpt gold over 6m from drill hole ACDBS20-047 from 8m
- 1.89 gpt gold over 8m from drill hole ACDBS20-144 from 14m
- Including 4.47 gpt gold over 2m from 14m
- 1.37 gpt gold over 4m from drill hole ACDBS20-143 from 40m
Notes: 1: True width yet to be determined, 2: Table 1 – Assay Highlights, 3: No top-cut 4: All holes are -50 degree Inclination 5: 2m internal dilution.
Nana Sangmuah, President and CEO, stated, “This new discovery on our recently acquired ground validates our strategic thinking and highlights the positive potential of our entire land package. Follow up diamond and RC drilling will commence on this target to establish the depth and boundaries of the mineralization applying a similar strategy being undertaken at Kandiole North and Mankouke South targets.
We are very encouraged by the progress being made to convert our high priority targets into discoveries. More exploration work is also rapidly progressing on our other key regional targets with the goal of making additional discoveries. Continued success should highlight the multi-million ounce potential of our land package and emphasize the discovery phase of our equity life cycle typically associated with outsized equity returns. We expect that the District and Roscan Gold will become one of the major focuses of the gold sector in 2020/21.
At present we are diamond drilling at Mankouke South, as well as other target areas of the land package, and will update the market with drill results in the near future. In October, we will be conducting a high-resolution Airborne Survey to confirm and further define Regional Structures.”
These initial 446 AC holes allowed us to observe consistent high grades over a significant interval of 1,500m and the fact that several of the AC holes ended in mineralization bodes extremely well for follow up RC and DD drilling, as well as additional step-out drilling to extend the trend beyond 1,500m and potentially find more new mineralized structures in the surrounding area.
- Drill hole ACDBS20-221 with 4m @ 4.05 gpt to ACDBS20-047 with 6m @ 1.95 gpt lies within a potential mineralized zone of approximately 1,500m. We will continue to drill to clearly define the extents.
Drilling Contract and Analytical Protocol
The drilling contracts were awarded to 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 field 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 Dataset at Walia – New Major Discovery
|Hole ID||From (m)||To (m)||Interval (m)||gpt Au||Comment|
Table 2: Drillhole Dataset at Collars, Azimuth and Dip
|Hole ID||X Collar||Y Collar||Section||AZM||DIP|
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:
Dr. Andrew J. Ramcharan, P.Eng
Executive Vice President – Corporate Development
Tel: (416) 572-2295
Greg Isenor, P.Geo
Tel: (902) 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.
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