TORONTO, April 11, 2019 (GLOBE NEWSWIRE) -- Roscan Gold Corporation (“Roscan” or the “Company”) (ROS.V) is pleased to announce the results of the latest drilling completed at the Mankouke area of the Kandiole project. The mineralized zone outlined in Air Core (AC) line 7 (Mankouke discovery – news release January 24, 2019) was followed up to the north and south with AC drilling lines. This AC drilling confirmed the strike extension of the zone to both the north and to the south. The Reverse Circulation (RC) drilling conducted in the mineralized zone resulted in poor recovery and this area is being immediately followed up with diamond core drilling. All drilling information is shown on the accompanying maps and sections.
HIGHLIGHTS
- 6.39 g/t gold over 6 metres (including 7.46 g/t gold over 2 metres) - AC
- 2.26 g/t gold over 8 metres (including 3.35 g/t gold over 4 metres) - AC
- 1.85 g/t gold over 16 metres (including 3.25 g/t gold over 6 metres) - AC
- 1.68 g/t gold over 8 metres (including 2.30 g/t gold over 5 metres) - RC
- 2.60 g/t gold over 3 metres (including 5.72 g/t gold over 1 metre) - RC
Note: True widths cannot be determined with the information available
COMMENTARY
Greg Isenor, President and CEO of Roscan Gold stated that “These drilling results clearly show a north and south strike extension of over 100 metres of the Mankouke gold zone outlined in AC Line 7. In addition, the mineralization outlined in Line 1 indicates a 300 metre strike length. The Kouroukaida workings (see photo), 500 metres to the south of Line 7 discovery, and the Diouraba workings (see photo), 2,000 metres to the north-east of Line 7 point to a potential 2,500 metre strike length of this mineralized zone. In addition to these workings, this entire strike length as well as other gold anomalies in the Siribaya Structure will be tested by drilling (see property map).
The RC drill hole, RC 3, drilled to test for the down dip extension of the Line 7 mineralized zone, did not intersect gold mineralization; however, a zone of high sulfide (pyrite and arsenopyrite) occurs in this area and is interpreted to be the extension of the mineralized zone. Diamond drilling is planned for this area to get a better understanding of the depth extension of the mineralization.
These are “early days” in this exploration program and much drilling is planned and much drilling is yet to be completed. Our property position is not only on the prolific Siribaya Structure which hosts the Siribaya, Kabaya, Seko and Mankouke discoveries but also covers many other gold anomalies and several other structures.”
DRILLING PROGRAM
An Air Core (AC) drilling program consisting of two lines of holes (line 8 and line 9) was drilled in an east-west direction at -50 degrees to the west to a drilled length of 60 metres, in a heel to toe fashion and to an approximate vertical depth of 50 metres. These two lines of holes were drilled to test the north and south extensions of the mineralized zone previously identified in AC line 7. Line 8, consisting of 12 holes for a total of 720 metres, was drilled 50 metres to the north of line 7 and line 9, consisting of 14 holes for a total of 840 metres, was drilled 50 metres to the south of line 7.
A RC drilling program of three holes was completed on line 7 to confirm past results and test for the plunge of the mineralized zone at depth. The recovery in this RC drilling was poor and we consider the assay results to be inconclusive at this point until diamond core drilling is completed. This drilling also indicates that the saprolite extends from surface to approximately 90 metres in the area drilled.
DRILLING PLANS
Mankouke Permit and Siribaya Structure – Priority 1
Complete diamond drilling, which is now in progress, on lines 7, 8 and 9 to acquire core samples to assist in geological interpretation of the mineralization. Step out AC drilling at 50 metre intervals, along the north and south strike extension of the Mankouke discovery (line 7) for the building of a resource. AC drilling along the “Mankouke Corridor” to test the 3 kilometre strike length from the Kouroukaida artisanal workings in the south to the Diouraba artisanal workings to the north (see photos of the Kouroukaida and Diouraba workings).
Segando South Permit
An AC drilling program is being designed to test the numerous termite gold anomalies that occur in the area on the east side of the Fekola granitic intrusive in an area that is extensively covered with laterite. These anomalies appear to be aligned with interpreted structures in the area.
Mousalla North Permit
A follow up AC drilling program will be completed to test for both extensions of mineralization (eg: 4.98g/t gold over 8 metres) previously outlined by AC drilling, as well as other strong soil and termite gold anomalies.
Regional
AC drill testing of the numerous other termite anomalies that are located on our land package (See Kandiole Regional Map). A drilling plan detailing drill targets is currently being designed and will be announced in due course.
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. Before 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.
ABOUT ROSCAN
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 or (416) 293-8437
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.
Images accompanying this announcement are available:
ROSCAN AC DRILLING PROGRAM 2019 (SIGNIFICANT ASSAY RESULTS, S.F. 08/04/2019)
http://www.globenewswire.com/NewsRoom/AttachmentNg/72f05748-9109-4bd3-9fff-18b33b203f99
ROSCAN AC DRILLING PROGRAM 2019 (SIGNIFICANT ASSAY RESULTS, S.F. 27/03/2019)
http://www.globenewswire.com/NewsRoom/AttachmentNg/0e967e47-bcbb-43ff-bba2-f080733a195a
PLAN SHOWING MANKOUKE ZONE
http://www.globenewswire.com/NewsRoom/AttachmentNg/9e9a6061-680b-4c55-a2e6-3893fcfa8705
SECTION LINE 7
http://www.globenewswire.com/NewsRoom/AttachmentNg/6c1c807e-89ec-44b8-9b13-9f5cda937d44
SECTION LINE 8
http://www.globenewswire.com/NewsRoom/AttachmentNg/70bbcc24-5bd2-4743-aa60-8ffb2f95bade
SECTION LINE 9
http://www.globenewswire.com/NewsRoom/AttachmentNg/29a59cc2-73d0-40e7-9225-43fbdea5152c
MAP SHOWING REGIONAL TARGETS
http://www.globenewswire.com/NewsRoom/AttachmentNg/0c9fe1c1-baf3-4421-82e2-f987ee0fbdff
KOUROUKAIDA WORKINGS
http://www.globenewswire.com/NewsRoom/AttachmentNg/6de7546d-9c44-4280-844b-d03ece0792de
DIOURABA WORKINGS
http://www.globenewswire.com/NewsRoom/AttachmentNg/24b5e058-0f0b-408c-aebf-5d57c947b9db
