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Roscan Gold Makes New Major Gold Discovery at Walia with a 1,500m Strike Length and Intersected 21.4gpt over 8m including 77.8gpt over 2m

Thursday, 22 October 2020 06:00 AM

Roscan Gold Corporation

TORONTO, ON / ACCESSWIRE / October 22, 2020 / Roscan Gold Corporation ("Roscan" or the "Company") (TSXV:ROS)(FSE:2OJ)(OTC PINK:RCGCF) is pleased to announce a New Major Gold Discovery at Walia from the ongoing regional exploration program (Figure 1). This new Mineralized Trend extends for an estimated 1,500m to date, and returned high-grades of 21.4gpt over 8m including 77.8gpt over 2m very close to surface (Table 1). This new discovery is open in all directions.

Air Core Drilling Highlights - Walia:

  • 21.4 gpt gold over 8m from drill hole ACDBS20-395 from 26m
    • Including 77.8 gpt gold over 2m from 30m 
  • 11.4 gpt gold over 2m from drill hole ACDBS20-228 from 0m
  • 7.96 gpt gold over 2m from drill hole ACDBS20-144 from 2m 
  • 4.05 gpt gold over 4m from drill hole ACDBS20-221 from 34m
  • 3.59 gpt gold over 4m from drill hole ACDBS20-418 from 30m  
  • 3.06 gpt gold over 2m from drill hole ACDBS20-140 from 2m
  • 2.78 gpt gold over 2m from drill hole ACDBS20-158 from 6m 
  • 2.43 gpt gold over 4m from drill hole ACDBS20-406 from 22m
  • 2.31 gpt gold over 2m from drill hole ACDBS20-325 from 18m  
  • 2.20 gpt gold over 4m from drill hole ACDBS20-407 from 14m
  • 2.19 gpt gold over 4m from drill hole ACDBS20-204 from 8m 
  • 1.95 gpt gold over 6m from drill hole ACDBS20-047 from 8m
  • 1.89 gpt gold over 8m from drill hole ACDBS20-144 from 14m
    • Including 4.47 gpt gold over 2m from 14m 
  • 1.37 gpt gold over 4m from drill hole ACDBS20-143 from 40m

Notes: 1: True width yet to be determined, 2: Table 1 - Assay Highlights, 3: No top-cut 4: All holes are -50 degree Inclination 5: 2m internal dilution.

Nana Sangmuah, President and CEO, stated, "This new discovery on our recently acquired ground validates our strategic thinking and highlights the positive potential of our entire land package. Follow up diamond and RC drilling will commence on this target to establish the depth and boundaries of the mineralization applying a similar strategy being undertaken at Kandiole North and Mankouke South targets.

We are very encouraged by the progress being made to convert our high priority targets into discoveries. More exploration work is also rapidly progressing on our other key regional targets with the goal of making additional discoveries. Continued success should highlight the multi-million ounce potential of our land package and emphasize the discovery phase of our equity life cycle typically associated with outsized equity returns. We expect that the District and Roscan Gold will become one of the major focuses of the gold sector in 2020/21.

At present we are diamond drilling at Mankouke South, as well as other target areas of the land package, and will update the market with drill results in the near future. In October, we will be conducting a high-resolution Airborne Survey to confirm and further define Regional Structures."

These initial 446 AC holes allowed us to observe consistent high grades over a significant interval of 1,500m and the fact that several of the AC holes ended in mineralization bodes extremely well for follow up RC and DD drilling, as well as additional step-out drilling to extend the trend beyond 1,500m and potentially find more new mineralized structures in the surrounding area.

Roscan Gold Corporation, Thursday, October 22, 2020, Press release picture

Figure 1: Plan View delineating the New Major Gold Discovery at Walia

Roscan Gold Corporation, Thursday, October 22, 2020, Press release picture

Figure 2: Plan View Confirmed 1,500m Trend of Mineralization at Walia

Roscan Gold Corporation, Thursday, October 22, 2020, Press release picture

Figure 3: Plan View of Walia with High Grade Intercepts

  • Drill hole ACDBS20-221 with 4m @ 4.05 gpt to ACDBS20-047 with 6m @ 1.95 gpt lies within a potential mineralized zone of approximately 1,500m. We will continue to drill to clearly define the extents.

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 Dataset at Walia - New Major Discovery

Hole ID

From (m)

To (m)

Interval (m)

gpt Au

Comment

           

ACDBS20-001

26

28

2

0.90

 
 

36

38

2

2.23

 

ACDBS20-042

2

4

2

1.76

 

ACDBS20-047

8

14

6

1.95

 
 

8

10

2

4.95

 

ACDBS20-048

48

50

2

0.80

EOH

ACDBS20-059

18

20

2

0.63

 

ACDBS20-102

28

30

2

0.50

 

ACDBS20-116

28

30

2

0.52

 

ACDBS20-129

24

26

2

0.65

 

ACDBS20-136

22

24

2

0.62

 

ACDBS20-140

2

4

2

3.06

 

ACDBS20-142

24

26

2

0.97

 

ACDBS20-143

10

12

2

0.62

 
 

40

44

4

1.37

 

ACDBS20-144

2

4

2

7.96

 
 

14

22

8

1.89

 
 

14

16

2

4.47

 
 

34

46

12

0.74

 

ACDBS20-145

44

46

2

1.69

 

ACDBS20-146

24

26

2

0.50

 

ACDBS20-150

10

12

2

0.56

 

ACDBS20-156

20

22

2

0.57

 
 

28

30

2

2.10

 
 

48

50

2

0.55

EOH

ACDBS20-157

6

8

2

1.00

 

ACDBS20-158

6

8

2

2.78

 
 

24

26

2

0.63

 

ACDBS20-172

18

20

2

0.59

 

ACDBS20-201

42

44

2

0.50

 

ACDBS20-204

8

12

4

2.19

 

ACDBS20-208

44

46

2

0.65

 

ACDBS20-220

8

12

4

1.00

 

ACDBS20-221

34

38

4

4.05

 

ACDBS20-228

0

2

2

11.4

 
 

28

30

2

0.80

 

ACDBS20-236

36

38

2

0.50

 

ACDBS20-239

2

4

2

1.58

 

ACDBS20-261

6

8

2

0.53

 

ACDBS20-296

44

46

2

0.73

 

ACDBS20-299

42

44

2

0.63

 

ACDBS20-304

24

26

2

0.50

 

ACDBS20-325

18

20

2

2.31

 

ACDBS20-326

32

34

2

2.33

 

ACDBS20-334

16

18

2

0.67

 

ACDBS20-335

38

40

2

0.83

 
 

48

50

2

0.60

EOH

ACDBS20-380

10

12

2

0.54

 

ACDBS20-391

32

34

2

1.01

 
 

40

48

8

0.93

 

ACDBS20-392

14

20

6

0.61

 
 

34

36

2

1.96

 

ACDBS20-393

18

26

8

0.98

 

ACDBS20-395

26

34

8

21.4

 
 

30

32

2

77.8

 
 

40

42

2

0.56

 

ACDBS20-399

16

18

2

1.25

 
 

40

42

2

0.88

 

ACDBS20-400

14

16

2

1.24

EOH

ACDBS20-401

16

18

2

0.76

 
 

44

46

2

1.25

 

ACDBS20-402

32

34

2

0.72

 
 

46

48

2

0.65

 

ACDBS20-403

24

26

2

1.75

 

ACDBS20-405

6

8

2

1.50

 

ACDBS20-406

22

26

4

2.43

 

ACDBS20-407

14

18

4

2.20

 

ACDBS20-415

12

14

2

2.00

 

ACDBS20-416

4

6

2

0.78

 

ACDBS20-417

26

28

2

0.55

 
 

36

42

6

0.93

 

ACDBS20-418

30

34

4

3.59

 
 

38

40

2

0.54

 

ACDBS20-434

12

14

2

0.55

 

Table 2: Drillhole Dataset at Collars, Azimuth and Dip

Hole ID

X Collar

Y Collar

Section

AZM

DIP

ACDBS20-001

262553

1397801

1397800

90

-50

ACDBS20-042

261875

1397796

1397800

90

-50

ACDBS20-047

261751

1397800

1397800

90

-50

ACDBS20-048

261725

1397802

1397800

90

-50

ACDBS20-059

261701

1397498

1397500

90

-50

ACDBS20-102

260674

1397498

1397500

90

-50

ACDBS20-116

262524

1398499

1398500

270

-50

ACDBS20-129

262676

1398500

1398500

270

-50

ACDBS20-136

262175

1398563

1398500

270

-50

ACDBS20-140

262101

1398499

1398500

270

-50

ACDBS20-142

262052

1398500

1398500

270

-50

ACDBS20-143

262027

1398498

1398500

270

-50

ACDBS20-144

261996

1398500

1398500

270

-50

ACDBS20-145

261976

1398500

1398500

270

-50

ACDBS20-146

261952

1398502

1398500

270

-50

ACDBS20-150

262201

1398998

1399000

270

-50

ACDBS20-156

262054

1399000

1399000

270

-50

ACDBS20-157

261977

1399002

1399000

270

-50

ACDBS20-158

262002

1399004

1399000

270

-50

ACDBS20-172

262548

1399000

1399000

270

-50

ACDBS20-201

262327

1399201

1399200

270

-50

ACDBS20-204

262401

1399199

1399200

270

-50

ACDBS20-208

262497

1399205

1399200

270

-50

ACDBS20-220

262050

1399200

1399200

270

-50

ACDBS20-221

262067

1399203

1399200

270

-50

ACDBS20-228

262799

1399198

1399200

270

-50

ACDBS20-236

263001

1399201

1399200

270

-50

ACDBS20-239

263074

1399200

1399200

270

-50

ACDBS20-261

263095

1399352

263100

360

-50

ACDBS20-296

262724

1398674

262725

360

-50

ACDBS20-299

262725

1398602

262725

360

-50

ACDBS20-304

262725

1398450

262725

360

-50

ACDBS20-325

262401

1399275

262400

360

-50

ACDBS20-326

262401

1399250

262400

360

-50

ACDBS20-334

262405

1399048

262400

360

-50

ACDBS20-335

262401

1399024

262400

360

-50

ACDBS20-380

261994

1399198

262000

360

-50

ACDBS20-391

262002

1399148

262000

360

-50

ACDBS20-392

262028

1399199

1399200

270

-50

ACDBS20-393

261998

1398975

262000

360

-50

ACDBS20-395

262003

1399026

262000

360

-50

ACDBS20-399

262000

1398825

262000

360

-50

ACDBS20-400

262002

1398851

262000

360

-50

ACDBS20-401

262000

1398857

262000

360

-50

ACDBS20-402

262002

1398882

262000

360

-50

ACDBS20-403

262001

1398905

262000

360

-50

ACDBS20-405

261999

1398952

262000

360

-50

ACDBS20-406

262005

1398504

262000

360

-50

ACDBS20-407

262006

1398528

262000

360

-50

ACDBS20-415

262000

1398725

262000

360

-50

ACDBS20-416

262001

1398749

262000

360

-50

ACDBS20-417

262000

1398774

262000

360

-50

ACDBS20-418

262000

1398800

262000

360

-50

ACDBS20-434

262401

1398675

262400

360

-50

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:

Dr. Andrew J. Ramcharan, P.Eng
Executive Vice President - Corporate Development
Tel: (416) 572-2295
Email: [email protected]

Greg Isenor, P.Geo

Executive Vice-Chairman
Tel: (902) 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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