Investors

News Releases

Roscan Gold Makes New Major Gold Discovery at Walia with a 1,500m Strike Length and Intersected 21.4gpt over 8m including 77.8gpt over 2m

October 22, 2020

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.


Figure 1: Plan View delineating the New Major Gold Discovery at Walia


Figure 2: Plan View Confirmed 1,500m Trend of Mineralization at Walia


Figure 3: Plan View of Walia with High Grade Intercepts

  • 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
ACDBS20-001 26 28 2 0.90  
  36 38 2 2.23  
ACDBS20-042 2 4 2 1.76  
ACDBS20-047 8 14 6 1.95  
  8 10 2 4.95  
ACDBS20-048 48 50 2 0.80 EOH
ACDBS20-059 18 20 2 0.63  
ACDBS20-102 28 30 2 0.50  
ACDBS20-116 28 30 2 0.52  
ACDBS20-129 24 26 2 0.65  
ACDBS20-136 22 24 2 0.62  
ACDBS20-140 2 4 2 3.06  
ACDBS20-142 24 26 2 0.97  
ACDBS20-143 10 12 2 0.62  
  40 44 4 1.37  
ACDBS20-144 2 4 2 7.96  
  14 22 8 1.89  
  14 16 2 4.47  
  34 46 12 0.74  
ACDBS20-145 44 46 2 1.69  
ACDBS20-146 24 26 2 0.50  
ACDBS20-150 10 12 2 0.56  
ACDBS20-156 20 22 2 0.57  
  28 30 2 2.10  
  48 50 2 0.55 EOH
ACDBS20-157 6 8 2 1.00  
ACDBS20-158 6 8 2 2.78  
  24 26 2 0.63  
ACDBS20-172 18 20 2 0.59  
ACDBS20-201 42 44 2 0.50  
ACDBS20-204 8 12 4 2.19  
ACDBS20-208 44 46 2 0.65  
ACDBS20-220 8 12 4 1.00  
ACDBS20-221 34 38 4 4.05  
ACDBS20-228 0 2 2 11.4  
  28 30 2 0.80  
ACDBS20-236 36 38 2 0.50  
ACDBS20-239 2 4 2 1.58  
ACDBS20-261 6 8 2 0.53  
ACDBS20-296 44 46 2 0.73  
ACDBS20-299 42 44 2 0.63  
ACDBS20-304 24 26 2 0.50  
ACDBS20-325 18 20 2 2.31  
ACDBS20-326 32 34 2 2.33  
ACDBS20-334 16 18 2 0.67  
ACDBS20-335 38 40 2 0.83  
  48 50 2 0.60 EOH
ACDBS20-380 10 12 2 0.54  
ACDBS20-391 32 34 2 1.01  
  40 48 8 0.93  
ACDBS20-392 14 20 6 0.61  
  34 36 2 1.96  
ACDBS20-393 18 26 8 0.98  
ACDBS20-395 26 34 8 21.4  
  30 32 2 77.8  
  40 42 2 0.56  
ACDBS20-399 16 18 2 1.25  
  40 42 2 0.88  
ACDBS20-400 14 16 2 1.24 EOH
ACDBS20-401 16 18 2 0.76  
  44 46 2 1.25  
ACDBS20-402 32 34 2 0.72  
  46 48 2 0.65  
ACDBS20-403 24 26 2 1.75  
ACDBS20-405 6 8 2 1.50  
ACDBS20-406 22 26 4 2.43  
ACDBS20-407 14 18 4 2.20  
ACDBS20-415 12 14 2 2.00  
ACDBS20-416 4 6 2 0.78  
ACDBS20-417 26 28 2 0.55  
  36 42 6 0.93  
ACDBS20-418 30 34 4 3.59  
  38 40 2 0.54  
ACDBS20-434 12 14 2 0.55  

Table 2: Drillhole Dataset at Collars, Azimuth and Dip

Hole ID X Collar Y Collar Section AZM DIP
ACDBS20-001 262553 1397801 1397800 90 -50
ACDBS20-042 261875 1397796 1397800 90 -50
ACDBS20-047 261751 1397800 1397800 90 -50
ACDBS20-048 261725 1397802 1397800 90 -50
ACDBS20-059 261701 1397498 1397500 90 -50
ACDBS20-102 260674 1397498 1397500 90 -50
ACDBS20-116 262524 1398499 1398500 270 -50
ACDBS20-129 262676 1398500 1398500 270 -50
ACDBS20-136 262175 1398563 1398500 270 -50
ACDBS20-140 262101 1398499 1398500 270 -50
ACDBS20-142 262052 1398500 1398500 270 -50
ACDBS20-143 262027 1398498 1398500 270 -50
ACDBS20-144 261996 1398500 1398500 270 -50
ACDBS20-145 261976 1398500 1398500 270 -50
ACDBS20-146 261952 1398502 1398500 270 -50
ACDBS20-150 262201 1398998 1399000 270 -50
ACDBS20-156 262054 1399000 1399000 270 -50
ACDBS20-157 261977 1399002 1399000 270 -50
ACDBS20-158 262002 1399004 1399000 270 -50
ACDBS20-172 262548 1399000 1399000 270 -50
ACDBS20-201 262327 1399201 1399200 270 -50
ACDBS20-204 262401 1399199 1399200 270 -50
ACDBS20-208 262497 1399205 1399200 270 -50
ACDBS20-220 262050 1399200 1399200 270 -50
ACDBS20-221 262067 1399203 1399200 270 -50
ACDBS20-228 262799 1399198 1399200 270 -50
ACDBS20-236 263001 1399201 1399200 270 -50
ACDBS20-239 263074 1399200 1399200 270 -50
ACDBS20-261 263095 1399352 263100 360 -50
ACDBS20-296 262724 1398674 262725 360 -50
ACDBS20-299 262725 1398602 262725 360 -50
ACDBS20-304 262725 1398450 262725 360 -50
ACDBS20-325 262401 1399275 262400 360 -50
ACDBS20-326 262401 1399250 262400 360 -50
ACDBS20-334 262405 1399048 262400 360 -50
ACDBS20-335 262401 1399024 262400 360 -50
ACDBS20-380 261994 1399198 262000 360 -50
ACDBS20-391 262002 1399148 262000 360 -50
ACDBS20-392 262028 1399199 1399200 270 -50
ACDBS20-393 261998 1398975 262000 360 -50
ACDBS20-395 262003 1399026 262000 360 -50
ACDBS20-399 262000 1398825 262000 360 -50
ACDBS20-400 262002 1398851 262000 360 -50
ACDBS20-401 262000 1398857 262000 360 -50
ACDBS20-402 262002 1398882 262000 360 -50
ACDBS20-403 262001 1398905 262000 360 -50
ACDBS20-405 261999 1398952 262000 360 -50
ACDBS20-406 262005 1398504 262000 360 -50
ACDBS20-407 262006 1398528 262000 360 -50
ACDBS20-415 262000 1398725 262000 360 -50
ACDBS20-416 262001 1398749 262000 360 -50
ACDBS20-417 262000 1398774 262000 360 -50
ACDBS20-418 262000 1398800 262000 360 -50
ACDBS20-434 262401 1398675 262400 360 -50

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.

About Roscan
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
Email: aramcharan@Roscan.ca

Greg Isenor, P.Geo
Executive Vice-Chairman
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.

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.