ACCESS Newswire
23 Nov 2020, 16:43 GMT+10
TORONTO, ON / ACCESSWIRE / November 23, 2020 / Roscan Gold Corporation ('Roscan' or the 'Company') (TSX-V:ROS)(FSE:2OJ)(OTC PINK:RCGCF) is pleased to announce positive diamond drill results (Figure 1) from an additional 16 holes totaling 3,241 meters (m) at its Southern Mankouke Discovery. DDMan-20-79 (Figure 1 and Figure 2) intersected 5.35 gpt over 53m from 126.5m, including 12.5 gpt over 12m. Additionally, hole DDMan-20-77 intersected 3.99 gpt over 17m from 166.3m in Fresh Rock (Figure 3).
This very important discovery at Southern Mankouke has a strong magnetic signature and we plan to conduct a detailed interpretation of the recently completed air borne geophysical survey to assist in further drilling. Additional drilling will be required to further outline this strong hydrothermal system now with the confidence in the existence of a 'root' source. The 'structural corridor' in this area has become more evident as we continue drilling.
Drilling has intercepted un-oxidized material in at least seven holes (DDMan20-25, 41,52,54,61, and 77) in 2020. These fresh rock-sulphide intercepts clearly demonstrate an association of gold with disseminated pyrite, minor arsenopyrite and hydrothermal alteration which includes sericite-silica- dolomite/ankerite-albite-magnetite and quartz veining (mainly veinlets). The style of alteration encountered is typical of other gold deposits found in the region including Sadiola, Loulo Deposits and Fekola.
Drilling Highlights:
Southern Mankouke - Diamond Drill Holes
Nana Sangmuah, President and CEO, stated, 'These positive results further confirm the continuity of the mineralization at Southern Mankouke and we are pleased to have encountered more fresh rock in both old and new intercepts. We remain confident that the feed source of the hydrothermal alterations should culminate in tracing a big system analogous to some of the known large deposits in the region with similar lithological controls.
We remain focused on testing the full potential of our tenement package in order to yield more discoveries and expand on the success at Southern Mankouke (Figure 2). Drilling in 2020 continues to unlock the potential of our highly prospective land package which should lead to more news flow in the coming weeks.'
Figure 1: Plan View of the Southern Mankouke Drilling
Figure 2: Longitudinal View Depicting Depth and High-Grade Continuity
Figure 3: Cross Section Depicting the Extension to Vertical Depth - DDMan-20-77
Figure 4: Geophysics data showing the major structure on Kandiole Project
Geology
The gold mineralization at Mankouke South is located approximately 25km east of the Fekola mine (B2Gold Corp.). Gold mineralization in Mankouke South occurs within hydrothermally altered and sheared metasediments of the Kofi formation which include greywacke, limestone and diamictite.
Drilling has intercepted unoxidized material in at least seven holes (DDMan20-25, 41,52,54,61, and 77). These fresh rock-sulphide intercepts clearly demonstrate an association of gold with disseminated pyrite, minor arsenopyrite and hydrothermal alteration which includes sericite-silica-dolomite/ ankerite-albite-magnetite and quartz veining (mainly veinlets). The style of alteration encountered is typical of other gold deposits found in the region including Sadiola, Loulo deposits and Fekola.
The Mankouke South deposit is located within the sheared eastern limb of a fold within hydrothermally altered greywacke-diamictite-carbonate rocks directly above a footwall unit of finely banded and alternating graphitic shale and limestone referred to as the dirty limestone ('DLS'). The DLS unit is easily recognizable in the core and does not, to date, host any gold but forms a distinct footwall marker to the mineralization. The Mankouke South mineralization clearly occurs in the rock package above the DLS and has been enriched, upgraded, and concentrated by subsequent folding and shearing of the fold limbs. This deposit is therefore structurally controlled. The setting appears to be analogous to the Sadiola orebodies mined by IAMGOLD, in particular the FE open pit deposits.
Figure 5: Drill Core Photo DDMan-20-79 showing high-grade sections mineralization style of deposit
Figure 6: Drill Core Photo DDMan-20-77 showing broadly high-grade sections in Fresh Rock
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 Highlights at Mankouke South (November 23rd, 2020)
Table 2: Drillhole ID Mankouke South (November 23rd, 2020)
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:
Andrew J. Ramcharan, P.Eng
Executive Vice President - Corporate Development & Investor Relations
Tel: (416) 572-2295
Email: [email protected]
Greg Isenor, P.Geo
Executive Vice-Chairman
Tel: (902) 221-2329
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.
SOURCE: Roscan Gold Corporation
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