TORONTO, Nov. 26, 2018 /CNW/ - Roscan Gold Corporation
("Roscan" or the "Company") (TSX-V: ROS) is pleased to announce
that drilling has commenced at the Company's 100%-owned Kandiole
Project in Mali, West Africa. As previously announced, a 3,500
metre Air Core ("AC") drilling program was designed to test several
of the numerous, high-quality, gold geochemical anomalies. The
program commenced on schedule and is expected to be completed in
under a month, with initial results being announced in early
2019.
"We are excited to get on the path to unlocking the potential of
the Kandiole gold project and look forward to announcing the
results of our initial drilling program as soon as we can. In
addition, we expect to announce plans for a follow up program
including the testing of anomalies that were not drilled in this
first pass program," stated Greg
Isenor, Roscan President and CEO. "Our past experience and
knowledge of this area has allowed us to fast forward our
exploration and initiate a drilling program," continued Mr.
Isenor.
AC DRILLING PROGRAM
Below and linked, are two maps
(Figure 1 & Figure 2) illustrating the strong gold anomalies
and the drill fences to be completed before the end of the year, as
well as a property map (Figure 3) identifying the two areas of
drilling. The 3,500-metre drilling program consists of
approximately 77 holes (47 holes on Mankouke & 30 holes on
Moussala Nord). These AC holes are designed to test the full width
of a series of strong gold anomalies in termite mounds with
coincident gold-in-soil anomalies.
The Mankouke property overlies a northerly-trending magnetic
Siribaya structure that is interpreted to represent a regional
scale thrust fault. Some of Roscan's strongest termite and
gold-in-soil anomalies lies along this structure. The Siribaya
Structure, and the corridor associated with the structure, hosts
established resources (Siribaya - 303,900 ounces indicated at 2.34
g/t gold and 301,400 ounces gold inferred at 2.17 g/t
gold1) and additional exciting new discoveries (Oklo's
Seko – intercepts to 4.38 g/t gold over 45 metres2 and
Komet's Kabaya – intercepts to 2.02 g/t gold over 62
metres3). The Mankouke targets have similar geochemical
expressions as other discoveries on this structural corridor. Three
drill fences, planned to test the stronger targets in the Mankouke
area, are summarized as follows:
- Line 1 – tests an anomalous area up to 750 metres wide and 600
metres long with termite and soil values ranging from 102 ppb to
588 ppb gold. This target area lies in a magnetic embayment along
the magnetic trend which may represent a large hydrothermal
alteration zone.
- Line 2 – tests a target area up to 400 metres wide by 800
metres long with termite and soil values ranging from 52 ppb to 499
ppb gold. This target area lies approximately 1,000 metres to the
south of the line 1 target area and along the same interpreted
mineralized structure.
- Line 3 lies approximately 500 metres to the south and west of
line 2 target area. This drill fence will test an interpreted,
approximately 1,200-metre long, parallel mineralization trend
across a 425 metres wide target area with termite and soil values
ranging from 127 ppb to 675 ppb gold.
Drill fences at Moussala Nord are designed to test three strong
anomalous gold trends. These anomalies are well defined and appear
to be associated with a strong, northeast-trending structure that
is semi-parallel to, and west of, the Siribaya Structure. The three
drill fences range from 225 metres to 275 metres wide with termite
and soil values ranging up to 16,000 ppb gold. Two of the drill
fences will cross over artisanal mining areas that are currently
being mined.
It is expected that in early 2019, a follow up program of
Reverse Circulation ("RC") drilling, and additional AC drilling
will be initiated in areas with the most significant AC
results.
1.
|
Link to Siribaya
Mineral Resource Estimate Study here.
|
2.
|
Link to Oklo
Resources Limited ASX Announcement
here.
|
3.
|
Link to Komet
Resources Inc. News Release here.
|
GEOCHEMICAL SAMPLING PROGRAM
In addition, a crew of 25
personnel, including three senior geologists, are at the site and
active in the field with soil and termite sampling. The exploration
camp has been set up to support the field crews and equipped to
manage all of the data being collected. The sampling program,
which has been designed to cover the high priority targets and
areas of interest, will result in approximately 75% of the permits
being covered with termite and soil samples. It is expected that
this sampling program will identify further drill targets.
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 mines and major deposits for
its Kandiole Project in west Mali. Drilling is currently underway at the
Kandiole project.
Don Dudek, P.Geo., an Independent
Director of the Company and a qualified person under National
Instrument 43-101, has reviewed and approved the scientific and
technical information in this press release.
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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SOURCE RosCan Gold Corporation