TORONTO, Sept. 10, 2013 /CNW/ - Roxgold Inc. ("Roxgold" or "the
Company") (TSXV: ROG) is pleased to announce that it has commenced a
1,600 metre diamond drilling program on the Bagassi South target at
its 100% owned Yaramoko permit located on the Houndé Greenstone Belt in
Burkina Faso. This drilling will be conducted by Falcon Drilling
Burkina Faso and will follow up on existing results announced by the
Company on July 09, 2013.
HIGHLIGHTS
-
Identification of new mineralized zone north of existing Bagassi South
drilling
-
Target co-incident with 250 metre long IP resistivity anomaly
-
Previously announced initial drill results* intersected high grade gold
mineralization including:
-
41.70 grams per tonne ("gpt") gold over 4.4 metres in drill hole
YRM-KD-BG-15
-
24.95 gpt gold over 3.8 metres in drill hole YRM-KD-BG-11
* Please refer to the Company's disclosure in its July 09, 2013 press
release for more details.
This drill program is intended to test the down dip potential of this
target at Bagassi South. Previous results on this target indicate that
the mineralization remains open below existing drilling and along
strike. The program will consist of six NQ sized diamond drill holes
drilled to a maximum depth of approximately 300 metres.
"We are encouraged by the early success at this target," stated John
Dorward, President and Chief Executive Officer. "We are hopeful that
this program will continue to build upon the success of the last
program as we continue in our endeavour to locate and define further
potential mineralized zones on the Yaramoko Permit."
About Roxgold
Roxgold is a gold exploration and development company with its key
asset, the high grade, 100% owned Yaramoko exploration permit located
in the mineral-rich Houndé greenstone region of Burkina Faso, West
Africa. The Company recently announced an updated resource estimate
for the 55 Zone and plans to release a Preliminary Economic Assessment
in September 2013. Roxgold trades on the TSX Venture Exchange under
the symbol ROG.
Forward Looking Statements
This news release may contain forward-looking statements. These
statements are based on information currently available to the Company
and the Company provides no assurance that actual results will meet
management's expectations. Forward-looking statements in this news
release include statements that describe the Company's future plans for
the exploration and development of the 55 Zone and regional exploration
in 2013, the potential of the 55 Zone including its prospectivity at
depth and the extensions of the mineralized area at depth, the
objectives or goals of exploration programs, expected completion of
assay backlog, and timing of future announcements, and include words to
the effect that the Company or management expects a stated condition or
result to occur. Forward-looking statements may be identified by such
terms as "anticipates", "believes", "could", "estimates", "expects",
"may", "shall", "will", or "would". Forward-looking statements are
based on assumptions and address future events and conditions, by their
very nature they involve inherent risks and uncertainties. The
assumptions upon which forward looking statements in this news release
are made include the reasonable assumptions of management with respect
to the geologic model, that third party labs will continue to process
assays at the current pace, results of exploration will warrant further
work, and current macro-economic conditions will continue to prevail.
Actual results relating to such future events and conditions could
differ materially from those currently anticipated in such statements
for many reasons such as: changes in management, changes in general
economic conditions and conditions in the financial markets; changes in
demand and prices for minerals; litigation, legislative, environmental
and other judicial, regulatory, political and competitive developments
and other matters discussed in this news release. The Company has not
made a construction or production decision on the Yaramoko Gold Project
at this time. Further, if and when the Company makes any production
decision, it will disclose the basis of such decision in accordance
with the requirements of National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101").This list is not
exhaustive of the factors that may affect any of the Company's
forward-looking statements. These and other factors should be
considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to
update any forward-looking statement that may be made from time to time
by the Company or on its behalf, except in accordance with applicable
securities laws.
Neither 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 Roxgold Inc.
