Toronto, Ontario–(Newsfile Corp. – June 27, 2022) – Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) (“Roscan” or the “Company”) is pleased to announce the positive drill results at both Kandiole North (“KN1”) and Disse. In Kandiole KN1, the continuity of the mineralized gold envelope has been demonstrated and expended laterally with a number of holes intersecting gold mineralization. In addition, high grade with visible gold (“VG”) was encountered in the fresh rock (Figure 3 and Figure 4). The Reverse Circulation (“RC”) and core holes (“DD”) drilling programs have improved and expanded the knowledge of the geometry of the gold-bearing zones.
At Kandiole KN1, the gold mineralization envelope has been extended 125 metres depth beyond the current pit limit of 150 metres depth with more consistent gold intercepts from these additional holes. The mineralization remains open to the North and South and to the East directions (Figure 3 and Figure 4).
At Disse, the high-grade gold extension continues to grow with high-grade intervals in the fresh rock along several distinct mineralized lodes. From the results of the Western RC fence line, gold mineralization has the potential to continue further toward the West.
It should be highlighted that neither Disse nor Kandiole North fresh rock gold mineralization are included in the maiden resource estimation (Roscan Press Release June 8th, 2022).
Drilling Highlights:
Kandiole North DD and RC Holes
- 7.62 gpt gold over 10m from drill hole DDKan22-008 from 234.5m
- Including 66.94 gpt gold over 1m from 238.5m
- 1.03 gpt gold over 26m from drill hole DDKan22-009 from 316.5
- Including 10.59 gpt gold over 1m from 329.5m
- 1.75 gpt gold over 20m from drill hole RCKAN22-0039 from 108m
- Including 25.21 gpt gold over 1m from 119m
Disse RC Holes
- 3.04 gpt gold over 12m from drill hole RCDBS22-0100 from 26m
- Including 12.22 gpt over 1m from 28m
- Including 15.91 gpt gold over 1m from 36m
- And 3.83 gpt gold over 6m from 90m
- Including 19.12 gpt gold over 1m from 92m
- 5.94 gpt gold over 4m from drill hole RCDBS22-0101 from 78m
- Including 18.57 gpt over 1m from 79m
Notes: 1: True width yet to be determined; 2: Table 1 – Assay Highlights, 3: 0.5gpt used as cut-off with 2m internal dilution, 4: No top-cut.
Nana Sangmuah, President and CEO, stated, “Kandiole North has been returning some great results outside the pit limits captured in the maiden resource. Mineralization continues extending in strike length with the current drilling program potentially doubling the 675 m captured in the maiden resource. The mineralization continues to be tested to a depth of 275 m, 125 m beyond the current pit depth of 150 m and remains open for further expansion both along strike and at depth. Numerous deeper holes ended in mineralization clearly showing the potential at depth.
There are multiple targets including KN2, KN3 and KN4 within broader arsenic geochemical anomalies that require further follow up and have the potential to significantly expand the Kandiole North footprint.
2,050 meters of RC drilling to date at Disse has established a 150 meters strike length of continuous mineralization in fresh rock to a depth of 140 meters and remains open. Disse is shaping to be one of our most advanced targets not captured in the maiden resource or exploration target areas included in the maiden resource update.
In Kandiole, we have completed 4,250 meters of drilling post the cut-off date drilling for the maiden resource and 7,950 m on the other resource areas.
This drilling was mainly focused on areas within the exploration target which was outlined to have near term potential to expand the maiden resource by between 8Mt at 1.0 g/t Au to 30Mt at 0.8 g/t Au. Areas such as Disse were not even included in this exploration target and add further upside potential.”
Figure 1: Kandiole KN1 and Disse location over the regional Sysmin Airborne Magnetic survey
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Figure 2: Plan View of the KN1 gold mineralization
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Figure 3: Cross Section A-B at Kandiole North KN1 Depicting the Depth Potential
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Figure 4: Cross Section C-D at Kandiole North KN1 Depicting the Depth Potential
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The KN1 drilling campaign continues to provide very good grades and increases the dimensions and confidence of the mineralized envelope, which should be captured in the upcoming maiden resources.
Kandiole KN1
The gold mineralization at Kandiole North is located approximately 20km east of the Fekola mine (B2Gold Corp.), but also along a prospective NE-SW structural corridor parallel to the main corridor Siribaya-Mankouke-Seko. Gold mineralization in Kandiole North occurs within the metasediments of the Kofi formation.
The N020 main mineralized corridor in KN1 is steeply dipping and expanded over more than 1.5 km, punctuated with several artisanal work pits. There is a secondary perpendicular mineralized strike steeply north dipping and forming the enlargements at North and South of the drilling zone. The broader geochemical Arsenic and Antimony signatures indicate a strong potential to extend the KN1 gold mineralization. The artisanal work intense suggests a mineralization lengthening toward the North and the South of the main drilling area.
The deep saprolite displays a narrow structural feature and interpreted as trans-tension NE-SW quartz veins within a NE-SW shear corridor developing some perpendicular extension veining (enlargement gold envelope). The host rock is clastic sediment from fine grain shale to coarser greywacke strongly weathered and the quartz veining gold bearing system is associated with disseminated pyrite and arsenopyrite.
The KN1 gold mineralization trend appears to be in the same regional structure as Moussala (MO1) gold mineralization (Figures 1). There are still several other auriferous occurrences in the Kandiole North permits to explore, all located in the major Siribaya-Mankouke-Seko regional structure.
Disse
Starting close to the surface, this steeply dipping mineralization at Disse has been identified over 200 meters of strike length (Figures 5, 6 and 7), on the Roscan permit in prolongation of the resources zone from the neighbor’s property. In the East, several mineralized lenses form a wider zone of 50 meters. At the West, the fence’s RC holes carry thin mineralization intercepts in the extension along the same strike as the main mineralization and which could resume extending toward the West. In such a shear structure, the mineralization can have a pinching and swelling feature. Additional drilling is planned and designed to extend the strike length of this high-grade gold occurrence.
Figure 5: Disse, drill plan and mineralization envelope
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Figure 6: Cross Section A-B at Disse Depicting the Depth Potential
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Figure 7: Cross Section D-C at Disse Depicting the Depth Potential
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Geology
The gold mineralization at Disse is an extension of the mineralization reported by Oklo on the Eastern boundary of our permit and lies a few kilometers from the Seko gold deposit but also not far from the prospective NE-SW structural Siribaya-Mankouke-Seko corridor. An inspection of the RC chips show that the gold mineralization at Disse occurs within the acid to intermediate intrusion crosscut by a dolerite sill. The gold zone is associated with a hard brownish alteration zone with pyrite in the fresh rock and limonite in the saprolite horizon. One or several straight brittle structures seem to be carrying the gold mineralization. From the EM airborne geophysics, Roscan interprets the intrusive as a pluton around which several other gold occurrences beyond Disse have been discovered such as Kabaya, Moussala MOU1, and the Seko deposit (Oklo).
Drilling and Analytical Protocol
Roscan uses Geodrill Reverse Circulation (RC) to drill until maximum 170m to reach the target and Foraco to drill diamond hole, using PQ size rods in the saprolite and HQ size in the fresh rock.
The samples were sent for preparation to the ALS Laboratories in Bamako, Mali and assayed at their analytical facilities to Ouagadougou for 1 kg Bottle Roll for DD and 2kg Bottle Roll for RC with atomic absorption finish including tail analysis by 50g Fire Assays for results more than 0.05ppm. Roscan applied industry-standard QA/QC procedures to the program using reference materials, blanks, standards, and duplicates.
Table 1: Drillhole Highlights of Kandiole North (Q1 2022)
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Table 1(suite): Drillhole Highlights of Kandiole North (Q1 2022)
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Table 2: Drillhole ID of Kandiole North (Q1 2022)
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Table 3: Drillhole Highlights of Disse (Q1 2022)
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Table 4: Drillhole ID of Disse (Q1 2022)
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Qualified Person (QP) and NI 43-101 Disclosure
Greg Isenor, P. Geo., Director 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:
Nana Sangmuah
President & CEO
Tel: (902) 832-5555
Email: [email protected]
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.
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