Roscan Gold Extends Southern Property Boundary and Commences 2020 Drill Program
Toronto, January 20, 2020 - RosCan Gold Corp. (TSXV: ROS) (FSE: 2OJ) ("Roscan" or the "Company") is pleased to announce the launch of the 2020 Exploration Program at its 100% owned Kandiole Gold Project ("Project") in Mali, West Africa. Our drilling program was designed utilizing numerous geological exploration methods which included our ongoing ground IP, previous drilling and termite sampling. The drilling program will follow up on the successful 2019 drilling campaign which identified a 7km mineralized trend on our Mankouke Permit.
The phased exploration program is designed to focus on the Company's exploration targets with the goal of delineating a mineral resource in the near future. The Phase 1, 2020 Exploration Program will include up to 10,000 meters of drilling and is expected to be largely directed at our Southern Discovery Target and along strike extensions, with the goal to accelerate to two (2) drill rigs to support our expanded Regional Exploration Campaign as shown in Figure 1. The 2020 exploration program will also continue surface work to advance a further seven (7) current high priority exploration targets across the Property for future drilling.
We await interpretation of Ground IP survey at Mankouke South and Central to better define our targets at depth which will be tested as part of the 2020 exploration drilling campaign. On receipt of the Ground IP results we will re-evaluate our plans and potentially mobilize a second drill.
Figure 1: Location of Roscan Permits and 8 Exploration Targets
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At this stage we have identified 8 explorations targets which are shown in Figure 1:
- Mankouké South
- Mankouké Central
- Mankouké Corridor
- Naraya
- Kandiolé West
- Moussala North
- Kandiolé North
- Niala
Roscan has strategically expanded its land package by acquiring the property to the immediate South which is a crucial additional 305 meters strike extension to our current drill program. Our highest priority drilling will be in this area whereby we have shown very encouraging results to date.
Drilling has commenced on the project with the first phase incorporating one drill rig, targeting the Southern Zone as shown in Figure 2, as well as testing along its strike and down dip extensions to confirm the depth and continuity of the Zone in Fresh Rock. Management intends to accelerate the drill campaign as priority targets become better defined and the company remains funded to support an extended drill campaign that should generate news flow.
The first phase of the 2020 drill program is expected to be completed in April 2020, with results released during the course of the activities.
"Just over a year ago our team began to test the southern extents of our geological model of the property area. Our drilling resulted in the discovery of the Southern Target, the highest and widest mineralized zone on the project to date, which warrants follow up drilling. We remain confident that the current drill campaign will rapidly progress our understanding of the scale and tenor of gold mineralization," stated Nana Sangmuah, President and CEO of Roscan Gold. "The current discovery of Southern Target, and other near surface discoveries, is testament to the strength of our technical team, and the tremendous exploration upside evident at Roscan. With this new program our exploration team is focused on expanding the Southern and Central Zones at the Mankouke Permit. We are very excited and look forward to a great year in 2020."
Previously released drilling highlights from Southern Target include as shown in Figure 2:
Some highlighted results (July 22, 2019) from Southern Target - Drill Target #1:
- 4.50 g/t gold over 16.0 metres from drill hole ACMan-19-167;
- 5.86 g/t gold over 26.0 metres from drill hole ACMan-19-167;
- 3.00 g/t gold over 10.4 metres from drill hole ACMan-19-168;
- 3.74 g/t gold over 30.0 metres from drill hole ACMan-19-168; and
- 6.13 g/t gold over 6.0 metres from drill hole ACMan-19-166.
Note: True widths cannot be determined with the information available
Figure 2: Southern Target with previous Drill Section (July 22, 2019)
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Qualified Person (QP) and NI 43-101 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 Corp. is a well-financed 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
Executive Vice President - Corporate Development and Investor Relations
Tel: (902) 832-5555
Email: aramcharan@Roscan.ca
Greg Isenor
Executive Vice-Chairman
Tel: (902) 832-5555
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.
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