HALIFAX, October 10, 2019 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ) is pleased to provide an update on its regional exploration and Air Core (AC) Drilling program at its Kandiole Project in Mali, West Africa.
- 3.82 g/t Au over 6 metres (38.0 m - 44.0 m) at Moussala Nord in ACMou-19-10
- 1.33 g/t Au over 2 metres (0.0 m - 2.0 m) at Moussala Nord in ACMou-19-01
- 1.96 g/t Au over 2 metres (0.0 m - 2.0 m) at Moussala Nord in ACMou-19-61
- 2.15 g/t Au over 2 metres (18.0 m - 20.0 m) at Mankouke in ACMan-19-155
- 2.10 g/t Au over 2 metres (22.0 m - 24.0 m) at Mankouke in ACMan-19-200
- 1.00 g/t Au over 6 metres (6.0 m - 12.0 m) at Mankouke in ACMan-19-217
Note: True widths cannot be determined with the information available
The AC drilling program completed to date, primarily at Mankouke and Moussala Nord, (see previous releases) has tested approximately 50% of the significant termite gold anomalies that occur in the total land package. The bulk of these results have already been released and showed that gold mineralization is widespread and points out that extensive follow up drilling is required. The remaining termite gold anomalies, not tested to date, will require additional drilling. In addition, follow up drilling is also required to test the extensions of mineralization (greater than 500 ppb / 2m) outlined in this regional AC drilling.
There are several areas of anomalous gold (100 ppb – 500 ppb / 2 metres) identified in the AC drilling. These areas must be put into context with respect to interpreted regional structures and further drilling is required.
There are several areas on the land package, including all of Kandiole West, the western half of Kandiole North, and the major portion of Niala where termite mound sampling has not been completed.
MANKOUKE PERMIT (7 Km Mineralized Gold Corridor Identified.)
The AC drilling completed on the Mankouke permit between the southern Mankouke discovery (3.74g/t over 30m and 5.86 g/t Au over 26m, previously released) and the central Mankouke discovery (8.86g/t Au over 14m and 8.63g/t Au over 10m, previously released) shows the continuity of mineralization along a 7 km trend extending northward for the total length of the permit. The mineralization occurs in breccia zones and has been drilled to date to only 70 metres vertical. See Figure 1.
MOUSSALA NORD PERMIT (2 Km Mineralized Gold Corridor Identified)
The AC drilling completed on the Moussala Nord permit outlines a 2 kilometer NE – SW trending mineralized zone (4.98 g/t Au over 8 metres, previously released and 3.82 g/t Au over 6 metres) that is coincident with a regional structure that transects to the south several strong untested (not drilled) termite anomalies located on the Kandiole West permit. This structure extends to the NE to intersect Komet’s, Walia discovery. See Figure 2.
KANDIOLE WEST PERMIT (Not Drilled to Date)
The strong termite gold anomalies that are present on this permit have not been drill tested to date. These termite anomalies point out a NE-SW trend that is coincident with a previously interpreted magnetic structure that extends to the south to the IAMGOLD Diakha deposit and to the north to the Moussala Nord high grade intersections previously discussed. See Figure 2.
SEGANDO SUD PERMIT (More Drilling Required)
A prominent NW – SE trend appears to be present the entire length of the permit and is outlined by 50 ppb and greater assays in both termite sampling and AC drilling. This interpreted structure appears to be the controlling feature of the eastern limit of the granitic intrusion in that area. Also, the southern extension of this structure appears to control the location of the Faleme River. Further work, including drilling, is required in this extremely interesting permit. See Figure 2.
NIALA PERMIT (Partially sampled)
The major portion of this permit has not been termite mound sampled. Impressive working has been discovered on this permit and detailed mapping of these working is required prior to drilling.
FIGURE 1 shows the Mankouke permit and the AC drilling results except for the area of central Mankouke where detailed drilling has been completed (Previously released). Mineralization appears to be continuous on this permit and trending in a north easterly direction.
FIGURE 2 shows the land package of the Kandiole project, the results of the termite sampling completed to date, the areas not sampled, the targets not drilled, to date and any significant AC assays data.
TABLE 1 shows assay data for the limited amount of regional AC drilling completed outside the Mankouke permit. Assays of 100 ppb Au (100 parts per billion gold) and greater are included in this table. The bulk of the land package in covered by laterite and assays of 100 ppb are considered very important and strong indicators of gold mineralization, and especially so, when associated with structures.
Greg Isenor, President and CEO of Roscan Gold stated “At Mankouke to date, we have two great gold discoveries on that permit, we are calling Central Mankouke and Southern Mankouke and these discoveries are on a 7- kilometer mineralized trend. The Southern Mankouke discovery will be diamond drilled as soon as we get back to drilling after the seasonal rains, estimated to be by the end of October. The Central Mankouke discovery has been detailed drilled for 500 metres, the mineralized zone is open to the north and drilling will continue there to extend that zone as soon as possible. In addition, we have a discovery area at Moussala Nord that has been identified by both the 2018 and 2019 AC drilling and that zone will be drilled to extend the mineralization. Also. there are several untested strong termite anomalies on the land packages that have not been drilled. There are also several areas that have not been termite mound sampled and sampling will continue in these areas this year. It is early days and we are working towards a resource as soon as possible.”
QUALIFIED PERSON AND SAMPLE PROTOCOL
The technical content in this news release has been reviewed and approved by Gregory P. Isenor, P. Geo, a Qualified Person as defined by NI 43-101.
For quality control, duplicated samples were systematically collected in the field, and blank samples were inserted in the sample batches sent to the laboratory. Blank samples and duplicates were included in the sample batches sent to the lab. Before their transportation, the samples were stored in a Roscan secured location in the field. Batches of samples were transported by truck, driven by Roscan contractors, up to the sample preparation installations of Bureau Veritas laboratory at Bamako; prepared samples were then shipped by Bureau Veritas to their treatment installations at Abidjan, Ivory Coast. During the assay process, the laboratory applied its own quality controls with blanks, duplicates and standard samples. The assay method was atomic absorption (AA) with pre-concentration by fire assay (FA); the detection limit of the method is of 5 ppb.
Roscan Gold Corporation is a Canadian gold exploration company focused on the acquisition and exploration 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: Greg Isenor
President and Chief Executive Officer 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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