Roscan Gold Corp V.ROS

NEWS OUT ! Roscan drills three m of 17.66 g/t Au at Kabaya

[FirstClass]

 

Roscan drills three m of 17.66 g/t Au at Kabaya

 

2021-05-04 03:16 PT - News Release

 

Dr. Andrew Ramcharan reports

ROSCAN GOLD SIGNIFICANTLY INCREASES DEPTH AND CONTINUITY OF MINERALIZATION ALONG STRIKE OF 600M AT KABAYA; ALL 52 HOLES DRILLED SINCE ACQUISITION INTERSECT GOLD MINERALIZATION

Roscan Gold Corp. has released positive DD/RC/AC (diamond drill/reverse circulation/air core) drill results from an additional 42 holes (29 DD and RC for 5,799 metres) totalling 6,500 metres at its Kabaya target, with all holes hitting gold mineralization.

At the time of acquisition on July 3, 2020, Kabaya's National Instrument 43-101 resource was pit constrained to a depth of 58 metres. Since the acquisition, all 52 holes DD/RC drilled by Roscan have intersected gold mineralization showing the remarkable continuity and consistency of the deposit. The company's January, 2021, drilling update (see news release dated Jan. 19, 2021) reported an increase of the depth potential of Kabaya (KB1) to 196 metres.

Subsequent drilling outlined in this release has now confirmed the continuity of the mineralization to a depth of 232 metres (KB1) over a strike length of 600 metres (KB1 and KB2), and it remains open. The recent drilling outlined below has dramatically increased the volume of the prospective deposit and has major positive implications for future resource growth. In addition, at the East Limb (KB2), the mineralization has now been extended down to 150 m in fresh rock from prior depth of 65 m and remains open at depth.

There were multiple holes intersecting high gold grades, such as drill hole RCDBS21-016, which intersected 17.66 grams per tonne gold over 3.0 m. While several holes showcased the broad consistency of the mineralization with intercepts such as 2.49 g/t gold over 19.0 m from drill hole RCDBS21-022, 2.29 g/t gold over 19.0 m from drill hole RCDBS21-016, 1.31 g/t gold over 21.0 m from drill hole RCDBS21-024 and 1.21 g/t gold over 30.0 m from drill hole RCDBS21-012, grade continuity and mineralization consistency reinforce the company's expectation for a robust new resource estimate at Kabaya by year-end.

In addition, shallow, regional stepout drilling has also revealed two newly discovered areas of high prospectivity, KB3 with 3.65 g/t Au over 4.0 m and KB4 with three g/t Au over 16.0 m, located, respectively, 1.0 kilometre north and 1.5 km south from the current resource footprint. It should be noted that KB4 lies on the magnetic trend that extends from Mankouke West into Kabaya over a 15 km strike, which has already yielded multiple high-grade intersections from earlier-stage regional drilling such as the company's KN2 and MS2 discoveries announced over the past few months.

Kabaya -- DD plus RC drilling highlights (KB1 and KB2):

 

• 17.66 g/t gold over 3.0 m from drill hole RCDBS21-016 from 16.0 m:
  • Including 26.00 g/t gold over 2.0 m from 16.0 m;
  • And 14.33 g/t gold over 2.0 m from drill hole RCDBS21-016 from 74.0 m;
  • Including 28.00 g/t gold over 1.0 m from 74.0 m;
  • And 2.29 g/t gold over 19.0 m from drill hole RCDBS21-016 from 23.0 m;
  • Including 10.47 g/t gold over 2.0 m from 39.0 m;
• 3.21 g/t gold over 8.0 m from drill hole DDDBS21-22 from 46.6 m:
  • Including 16.10 g/t gold over 1.0 m from 47.6 m;
• 3.09 g/t gold over 9.3 m from drill hole DDDBS20-15 from 0.0 m:
  • Including 8.73 g/t gold over 2.0 m from 4.3 m;
• 2.49 g/t gold over 19.0 m from drill hole RCDBS21-022 from 26.0 m:
  • Including 5.20 g/t gold over 6.0 m from 35.0 m;
• 1.72 g/t gold over 12.0 m from drill hole RCDBS21-021 from 2.0 m:
  • Including 4.68 g/t gold over 3.0 m from 9.0 m;
• 1.31 g/t gold over 21.0 m from drill hole RCDBS21-024 from 35.0 m:
  • Including 4.40 g/t gold over 1.0 m from 37.0 m;
• 1.23 g/t gold over 17.0 m from drill hole RCDBS21-018 from 65.0 m:
  • Including 7.40 g/t gold over 1.0 m from 75.0 m;
• 1.21 g/t gold over 30.0 m from drill hole RCDBS21-012 from 27.0 m:
  • Including 3.38 g/t gold over 3.0 m from 39.0 m.

 

Kabaya -- AC drilling (KB3 and KB4):

 

• 3.06 g/t gold over 16.0 m from drill hole ACDBS21-1514 from 30 m:
  • Including 6.53 g/t gold over six m from 34 m;
• 1.38 g/t gold over 12.0 m from drill hole ACDBS21-1515 from surface:
  • Including 3.25 g/t gold over four m from eight m.

 

Notes

(1) True width is yet to be determined.

(2) See the associated table for assay highlights.

(3) A grade of 0.5 g/t was used as cut-off with two m internal dilution for drill holes.

(4) There was no top cut.

Nana Sangmuah, president and chief executive officer, stated: "Since the acquisition in July, 2020, drilling at Kabaya has proven quite valuable as we have dramatically increased the continuity of the mineralization at depth over a strike length of 600 m and have identified the potential to tap into a deeper feeder system with both KB1 and KB2 open at depth.

"Kabaya has the potential to be a major contributor to our expected maiden resource update by the end of year. We have been very encouraged by our ability to more than triple the vertical extent of the deposit and show its robust continuity along strike. Newly discovered KB3 and KB4 zones could further expand the resource growth potential of Kabaya, and we will follow up with additional drilling in the weeks ahead."

The Kayaba deposit has a pit-constrained mineral resource to a depth of 58 m, which contains 105,000 ounces of indicated resource and 35,000 ounces of inferred resource. The company has now established mineralization to a depth of 232 m at KB1, which remains open.

The mineral resource is based on optimized pit shells using a gold price of $1,350 (U.S.) and a presumed heap leach gold recovery of saprolite material.

 

 Classification Tonnage Au Ounces (Mt) (g/t) (koz) Indicated 3.17 1.03 105 Inferred 0.96 1.14 35 

 

Pit-constrained mineral resource:

 

1. The effective date for resources is Jan. 7, 2019.
2. The independent qualified person for this resources estimate is Yann Camus, Eng, SGS Canada Inc.
3. The mineral resources are presented at a 0.4 g/t Au cut-off grade in pits.
4. The resources are presented without dilution.
5. Whittle pits have been utilized based on a gold value of $1,350 (U.S.) per ounce.
6. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
7. No economic evaluation of the resources has been produced.
8. This resource estimate has been prepared in accordance with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) definition (2014).
9. Density used is 1.7, based on measurements and similar projects.
10. Capping grade is of 30 g/t Au on original assays.

 

Based on the disclosure of National Instrument 43-101, Section 2.4:

 

1. The source is Komet's NI 43-101 that is effective Jan. 7, 2019.
2. The company considers the reliably and relevance to be reasonable.
3. The key assumptions are listed above.
4. The categories are similar.
5. There are no recent estimates.

 

The gold mineralization at Kabaya is associated with albite-dolomite-pyrite alteration in greywackes and diamictites of the Kofi formation. The alteration observed in the core indicates a strong hydrothermal system commonly associated with gold deposits in West Africa.

Roscan believes that the Kabaya deposit is part of a significant structural corridor, which spans from Oklo Resources' discoveries of Seko and Disse to the northeast of the company's land package and then extends southerly for 15 km on the company's property from Kabaya to the company's recent Kandiole North (KN2) and MS2 discoveries and continues onto the recently acquired Mankouke West land package, which shows a strong magnetic signature similar to the other discoveries on this corridor. Much of this corridor has yet to be tested, and, thus, Roscan feels that the potential for new discoveries in this corridor is excellent and connecting these multiple targets with drilling will be a key priority in 2021.

Drilling and analytical protocol

Roscan uses air core, reverse circulation and diamond types of drilling in the Kandiole project. The air core drilling is mainly focused on drilling exploration targets.

The samples are sent for preparation to Bureau Veritas Mineral Laboratories in Bamako, Mali, and assayed at its analytical facilities in Bamako for fire assay with atomic absorption finish and by gravimetric finish for grades above 10 g/t Au.

Roscan applied industry-standard quality assurance/quality control procedures to the program using reference materials, blanks, standards and duplicates.

 

  DRILL HOLE HIGHLIGHTS AT KABAYA TARGET (MAY 4, 2021) Hole ID From To Interval Au (m) (m) (m) (g/t) DDDBS20-15 0.0 9.3 9.3 3.09 including 4.3 6.3 2.0 8.73 38.3 44.3 6.0 0.80 including 42.3 43.3 1.0 1.93 DDDBS21-16 34.0 35.0 1.0 0.66 53.0 57.0 4.0 0.67 71.0 78.0 7.0 0.66 86.0 87.0 1.0 3.01 95.0 96.0 1.0 0.88 113.0 114.0 1.0 0.52 118.0 119.0 1.0 0.61 122.0 123.0 1.0 8.13 DDDBS21-17 136.1 148.1 12.0 0.78 152.1 154.1 2.0 1.88 169.2 174.2 5.0 0.62 189.2 190.2 1.0 0.65 DDDBS21-18 0.0 1.0 1.0 3.20 129.8 131.8 2.0 1.45 152.8 158.8 6.0 1.45 198.8 199.8 1.0 0.63 DDDBS21-19 174.6 175.6 1.0 0.77 177.6 178.6 1.0 0.69 195.6 197.6 2.0 1.84 210.6 211.6 1.0 0.82 256.6 258.6 2.0 6.46 including 257.6 258.6 1.0 11.90 DDDBS21-20 101.8 104.8 3.0 0.57 107.8 108.8 1.0 0.93 122.8 124.8 2.0 1.15 127.8 128.8 1.0 0.53 129.8 130.8 1.0 0.89 137.8 138.8 1.0 0.65 152.8 169.8 17.0 1.03 including 152.8 153.8 1.0 3.38 including 161.8 162.8 1.0 3.08 DDDBS21-21 274.6 275.6 1.0 0.55 278.6 281.6 3.0 0.75 DDDBS21-22 3.6 11.6 8.0 0.44 17.6 18.6 1.0 0.60 46.6 54.6 8.0 3.21 including 47.6 48.6 1.0 16.10 62.6 63.6 1.0 0.84 DDDBS21-23 73.6 74.6 1.0 1.74 113.6 115.6 2.0 0.82 141.6 142.6 1.0 1.94 145.6 152.6 7.0 1.80 including 147.6 148.6 1.0 5.60 160.6 170.6 10.0 0.74 173.6 176.6 3.0 1.11 180.6 198.6 18.0 1.04 including 195.6 196.6 1.0 3.02 204.6 212.6 8.0 2.24 including 210.6 211.6 1.0 5.26 216.6 226.6 10.0 1.00 including 217.6 218.6 1.0 3.32 DDDBS21-24 122.6 125.6 3.0 1.04 132.6 133.6 1.0 0.75 151.6 152.6 1.0 0.64 175.6 177.6 2.0 0.96 180.6 181.6 1.0 0.97 189.6 191.6 2.0 0.92 203.6 204.6 1.0 0.51 211.6 214.6 3.0 0.54 DDDBS21-25 114.6 119.6 5.0 0.92 123.6 127.6 4.0 0.91 133.6 139.6 6.0 0.60 147.6 151.6 4.0 1.09 154.6 155.6 1.0 2.04 173.6 174.6 1.0 0.53 DDDBS21-26 145.6 146.6 1.0 1.05 149.6 150.6 1.0 1.81 165.6 166.6 1.0 1.17 176.6 177.6 1.0 1.97 180.6 193.6 13.0 1.25 including 183.6 185.6 2.0 3.28 198.6 203.6 5.0 0.75 including 198.6 199.6 1.0 1.73 212.6 213.6 1.0 1.00 218.6 221.6 3.0 2.26 224.6 226.6 2.0 0.94 241.6 246.6 5.0 1.39 250.6 257.6 7.0 0.93 RCDBS21-009 73.0 74.0 1.0 0.84 78.0 82.0 4.0 0.69 RCDBS21-010 73.0 74.0 1.0 0.65 RCDBS21-011 102.0 106.0 4.0 1.00 111.0 115.0 4.0 0.61 118.0 119.0 1.0 1.45 148.0 149.0 1.0 0.68 152.0 153.0 1.0 1.15 159.0 161.0 2.0 0.52 164.0 168.0 4.0 2.22 including 165.0 166.0 1.0 5.27 RCDBS21-012 8.0 22.0 14.0 1.05 including 9.0 10.0 1.0 3.33 including 14.0 15.0 1.0 3.00 27.0 57.0 30.0 1.21 including 39.0 42.0 3.0 3.38 63.0 70.0 7.0 1.56 including 63.0 64.0 1.0 5.82 73.0 80.0 7.0 0.53 83.0 87.0 4.0 2.78 including 83.0 84.0 1.0 7.88 100.0 103.0 3.0 0.90 106.0 108.0 2.0 1.01 111.0 115.0 4.0 1.65 118.0 130.0 12.0 0.79 133.0 134.0 1.0 0.80 155.0 158.0 3.0 3.20 RCDBS21-013 32.0 36.0 4.0 1.25 39.0 43.0 4.0 1.02 54.0 58.0 4.0 0.86 including 54.0 55.0 1.0 2.26 65.0 66.0 1.0 0.58 90.0 109.0 19.0 1.02 including 92.0 93.0 1.0 2.81 including 105.0 107.0 2.0 3.94 113.0 117.0 4.0 2.32 including 114.0 115.0 1.0 5.75 120.0 126.0 6.0 1.82 141.0 142.0 1.0 0.57 RCDBS21-014 51.0 52.0 1.0 0.77 RCDBS21-015 86.0 88.0 2.0 6.23 including 86.0 87.0 1.0 11.90 91.0 100.0 9.0 1.15 including 91.0 92.0 1.0 3.34 105.0 107.0 2.0 1.05 114.0 124.0 10.0 0.90 137.0 138.0 1.0 0.56 139.0 140.0 1.0 0.59 RCDBS21-016 16.0 19.0 3.0 17.66 including 16.0 18.0 2.0 26.00 23.0 44.0 19.0 2.29 including 39.0 41.0 2.0 10.47 48.0 59.0 11.0 1.67 including 55.0 56.0 1.0 4.81 74.0 76.0 2.0 14.33 including 74.0 75.0 1.0 28.00 RCDBS21-017 1.0 10.0 9.0 1.62 12.0 13.0 1.0 0.50 16.0 17.0 1.0 0.64 20.0 21.0 1.0 0.88 26.0 38.0 12.0 1.22 including 34.0 35.0 1.0 4.05 43.0 44.0 1.0 0.50 48.0 49.0 1.0 1.39 55.0 65.0 10.0 1.97 92.0 93.0 1.0 0.59 122.0 127.0 5.0 0.62 RCDBS21-018 0.0 6.0 6.0 1.07 38.0 41.0 3.0 0.65 61.0 62.0 1.0 3.24 65.0 82.0 17.0 1.23 including 75.0 76.0 1.0 7.40 RCDBS21-019 22.0 24.0 2.0 0.79 30.0 31.0 1.0 0.57 37.0 38.0 1.0 0.74 41.0 42.0 1.0 0.53 50.0 71.0 21.0 0.91 including 70.0 71.0 1.0 2.23 75.0 76.0 1.0 0.60 80.0 85.0 5.0 2.09 including 81.0 82.0 1.0 5.72 94.0 110.0 16.0 1.06 including 95.0 96.0 1.0 4.62 114.0 115.0 1.0 1.97 126.0 138.0 12.0 0.95 178.0 179.0 1.0 1.71 RCDBS21-020 11.0 12.0 1.0 1.02 17.0 22.0 5.0 1.64 31.0 32.0 1.0 2.54 47.0 48.0 1.0 0.83 52.0 62.0 10.0 0.69 69.0 70.0 1.0 0.99 98.0 99.0 1.0 0.60 136.0 139.0 3.0 1.40 RCDBS21-021 2.0 14.0 12.0 1.72 including 9.0 12.0 3.0 4.68 27.0 28.0 1.0 0.54 30.0 31.0 1.0 1.30 35.0 36.0 1.0 0.53 47.0 48.0 1.0 0.62 59.0 60.0 1.0 1.13 73.0 75.0 2.0 2.72 RCDBS21-022 6.0 22.0 16.0 1.07 including 20.0 21.0 1.0 2.71 26.0 45.0 19.0 2.49 including 35.0 41.0 6.0 5.20 92.0 95.0 3.0 1.97 107.0 109.0 2.0 0.67 RCDBS21-023 95.0 102.0 7.0 0.69 153.0 154.0 1.0 0.57 165.0 166.0 1.0 0.69 177.0 178.0 1.0 0.55 RCDBS21-024 9.0 11.0 2.0 1.03 16.0 18.0 2.0 1.68 28.0 29.0 1.0 0.66 31.0 32.0 1.0 0.76 35.0 56.0 21.0 1.31 including 37.0 38.0 1.0 4.40 65.0 81.0 16.0 0.79 including 80.0 81.0 1.0 3.14 93.0 94.0 1.0 0.51 104.0 105.0 1.0 0.53 108.0 109.0 1.0 0.59 114.0 119.0 5.0 1.53 including 117.0 119.0 2.0 2.94 125.0 126.0 1.0 2.10 135.0 140.0 5.0 0.97 159.0 160.0 1.0 1.94 RCDBS21-025 26.0 27.0 1.0 0.75 30.0 31.0 1.0 2.25 36.0 37.0 1.0 0.62 41.0 42.0 1.0 0.72 65.0 66.0 1.0 1.44 73.0 74.0 1.0 0.51 81.0 82.0 1.0 0.52 84.0 85.0 1.0 0.81 92.0 93.0 1.0 0.87 101.0 102.0 1.0 0.51 106.0 109.0 3.0 0.83 112.0 113.0 1.0 0.55 121.0 122.0 1.0 0.69 128.0 129.0 1.0 0.66 147.0 149.0 2.0 0.98 159.0 160.0 1.0 0.85 163.0 169.0 6.0 1.48 including 165.0 166.0 1.0 3.31 ACDBS20-1075 10 12 2 0.88 22 28 6 0.49 ACDBS20-1094 30 34 2 3.65 ACDBS20-1095 14 18 4 1.55 ACDBS21-1105 36 42 6 1.96 including 40.0 42.0 2 5.30 ACDBS21-1109 14 26 12 0.99 38 40 2 1.07 ACDBS21-1110 26 36 10 0.59 46 48 2 0.65 ACDBS21-1111 0 12 2 0.66 26 28 2 1.27 42 48 8 0.64 ACDBS21-1461 38 52 14 0.59 ACDBS21-1463 14 18 4 0.79 ACDBS21-1465 14 38 24 1.09 including 34 36 2 4.89 ACDBS21-1513 62 66 4 0.56 ACDBS21-1514 30 46 16 3.06 including 34 40 6 6.53 ACDBS21-1515 0 12 12 1.38 including 8.0 12.0 4 3.25 

 

Qualified person (QP) and NI 43-101 disclosure

Greg Isenor, PGeo, executive vice-chairman for the company, is the designated qualified person for this news release within the meaning of National Instrument 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 Gold Corp.

Roscan Gold 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-per-cent-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 western Mali.

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