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Roscan Gold Intersects 30m at 2.96gpt, 20m at 2.38gpt and 17m at 2.66gpt at Kabaya and Significantly Extends Gold Mineralization to 196m Depth

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Roscan Gold Corporation (TSX-V: ROS) (FSE: 2OJ) (OTC Pink: RCGCF) is pleased to announce positive Diamond and RC drill results (Figure 1) from 23 holes totaling 4,158 metres (m) at its Kabaya Target with multiple holes intersecting high gold grades over wide intervals. Drill hole DDDBS20-008 (Figure 1) intersected 2.96 gpt over 30m starting from surface. Drill hole DDDBS20-009 intersected 2.38 gpt gold over 20m from 46m, Drill hole DDDBS20-006 intersected 2.66gpt over 17m from 166.2m and hole DDDBS20-14 ended in gold mineralization at 247.2m depth (Figure 2).

 

Kabaya – DD + RC Drilling Highlights

 

  • 10.6 gpt gold over 3m from drill hole DDDBS20-003 from 84.6m
  • Including 24.6 gpt gold over 1m from 84.6m
  • And 1.64 gpt gold over 9m from drill hole DDDBS20-003 from 57.8m
  • 3.09 gpt gold over 9.3m from drill hole DDDBS20-015 from 0m
  • Including 8.73 gpt gold over 2m from 4.3m
  • 2.96 gpt gold over 30m from drill hole DDDBS20-008 from 0m
  • Including 11.7 gpt gold over 2m from 26m
  • And 1.54 gpt gold over 15m from drill hole DDDBS20-008 from 34m
  • 2.66 gpt gold over 17m from drill hole DDDBS20-006 from 166.2m
  • Including 7.45 gpt gold over 2m from 171.2m
  • And 1.07 gpt gold over 15m from drill hole DDDBS20-006 from 143.2m
  • 2.38 gpt gold over 20m from drill hole DDDBS20-009 from 46m
    • Including 11.9 gpt gold over 1m from 64m
  • 1.93 gpt gold over 7m from drill hole DDDBS20-014 from 233.2m
  • 1.71 gpt gold over 13m from drill hole DDDBS20-010 from 0m
  • 1.65 gpt gold over 9m from drill hole RCDBS20-06 from 74m
  • 1.47 gpt gold over 21m from drill hole RCDBS20-005 from 109m
    • And 0.79 gpt gold over 16m from drill hole RCDBS20-005 from 90m
  • 1.28 gpt gold over 18m from drill hole RCDBS20-002 from 141m

 

Notes: 1: True width yet to be determined, 2: Table 1 – Assay Highlights, 3: 0.5gpt used as cut-off with 2m internal dilution for drill holes, 4: No top-cut.

 

Since acquiring Kabaya in June 2020, all 23 holes drilled intersected gold mineralization (Table 2) which reflects a 100% drill success rate. The Kayaba deposit (see Disclosures below1) has a pit-constrained mineral resource to a depth of 58m, which contains 105,000 ounces of Indicated Resource and 35,000 ounces of Inferred Resource. We have now established mineralization to a depth of 196m which remains open. (Figure 2)

 

Kabaya Project (Source Komet’s NI 43-101)
The mineral resource is based on optimized pit shells using a gold price of US$1,350 and a presumed heap leach gold recovery of saprolite material.

 

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

 

 

Pit Constraint Mineral Resource

 

  1. Effective date for resources is January 7, 2019. (Source Komet’s NI43-101)
    2. The independent QP 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 US$1,350/oz.
    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 definition (2014).
    9. Density used is of 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 NI43-101, Section 2.4

 

  1. a) The source is Komet’s NI43-101 that is effective January,7, 2019
    b) We consider the reliably and relevance to be reasonable
    c) The key assumptions are listed above (1-10) Above
    d) The categories are similar
    e) There are no recent estimates

 

Technical Report (NI43-101) dated March 5, 2019 (Effective Date: January 7, 2019) with Title Page, “Dabia Sud Property, Kabaya Resource, NI 43-101 Technical Report, Mali, prepared by Yann Camus, P. Eng. And Didier Ouedraogo, P. Geo., SGS Geological Services, and filed on SEDAR on March 5, 2019.

 

Exciting results from hole DDDBS20-014, which intersected 1.93 gpt gold over 7m from 233.2m and ended in gold mineralization at 247.2m (Figure 2), has reinforced the need for even deeper drilling. The recent addition of our 6th rig, which has a maximum depth drilling capability of 1,400m, will greatly facilitate this deeper drilling (see news release 5th January 2021). The Kabaya deposit remains open at depth and along strike and has become another priority target for follow up drilling in 2021.

 

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 North East of our land package and then extends for 22km on our property, from Kabaya to our recent Kandiole North Discovery (KN2) and onto our recently acquired Mankouke West Land Package, which shows a strong magnetic signature similar to the other discoveries on this corridor. (Figure 3 and news release 11th January 2021). Much of this 22km 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 via step out drilling will be a key priority in 2021.

 

Nana Sangmuah, President and CEO, stated, “These are very exciting times for the Company as we continue our success rate with additional positive results at Kabaya. These results demonstrate the potential of the magnetic structure in the corridor that extends for 22km from Kabaya to our newly acquired Mankouke West Target. This is one of five major trends of gold mineralization on our property and we will continue to aggressively drill to build ounces on these targets in 2021.

 

Since acquiring Kabaya in 2020, we have extended the average depth of mineralization from 58m to a vertical depth of 196 meters. Importantly, hole DDDBS20-014 our deepest intercept to date, ended in gold mineralization and remains open. This projected depth potential in gold mineralization and fresh rock will be another high priority for the Company. The drilling results, to date, have shown the potential to significantly increase the size of the gold occurrence at Kabaya.”

 

Figure 1: Plan View delineating the new holes drilled at Kabaya Deposit


Figure 2: Cross Section depicting Depth and High-Grade Continuity – DDDBS20-014

 


Figure 3: Plan View of Kabaya Deposit with Magnetic Signature on the entire Property

The gold mineralization at Kabaya (Figure 4) 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 this area.

 

 


Figure 4: DDDBS20-08 Kabaya: 2.96 gpt Au/30m from surface including 11.7 gpt Au/2m from 26m

 

Drilling Contract and Analytical Protocol

 

The drilling was performed by Geodrill who employs multi-purpose (AC/RC/DD) rigs and AC rigs at the Kandiole Project. The AC drilling is mainly focused on drilling exploration targets.

 

The Diamond Core and RC 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.

 

Roscan applied industry-standard QA/QC procedures to the program. Certified reference materials, blanks and field duplicates are inserted at appropriate intervals.

 

Figure 5a: Kabaya Small-Scale Operation depicting the significant potential


Figure 5b: Kabaya Small-Scale Operation depicting the significant potential

 

 

Table 1: Drillhole Highlights at Kabaya Deposit (January 18th, 2021)

 

Hole ID From (m) To (m) Interval (m) gpt Au Comment
Oxides unless otherwise noted
DDDBS20-001 5 8 3 0.84
88 89 1 0.75
193 194 1 1.97 FRESH
DDDBS20-002 40 43 3 3.95
47 50 3 1.02
58 59 1 0.51
66 69 3 1.36
72 76 4 0.73
79 81 2 1.00
92 94 2 1.58 FRESH
121 122 1 6.02 FRESH
133 135 2 2.71 FRESH
154 169 15 0.79 FRESH
DDDBS20-003 0 0.8 0.8 1.25 LAT
57.8 66.8 9 1.64 SR
70.8 72.8 2 0.90 FRESH
76.6 78.6 2 0.78 FRESH
84.6 87.6 3 10.6 FRESH
including 84.6 85.6 1 24.6 FRESH
91.6 92.6 1 0.53 FRESH
96.6 98.6 2 1.96 FRESH
104.6 108.6 4 0.78 FRESH
123.6 124.6 1 0.59 FRESH
RCDBS20-001 0 6 6 0.57 LAT
64 78 14 0.99 SAP+SR
RCDBS20-002 127 129 2 3.20 SR
133 138 5 1.57 SR+FRESH
141 159 18 1.28 FRESH
RCDBS20-003 66 69 3 0.65
125 126 1 0.58
128 132 4 0.56
DDDBS20-004 118.3 119.3 1 0.55
141.3 142.3 1 0.62
146.3 147.3 1 0.57
DDDBS20-005 106.3 109.3 3 0.79
126.3 127.3 1 0.81
137.3 143.3 6 0.57
150.3 151.3 1 0.74
160.3 171.3 11 1.22
175.3 176.3 1 1.01
183.3 191.3 8 1.11
196.3 203.3 7 1.71
DDDBS20-006 53.2 56.2 3 1.02
59.2 60.2 1 0.67
116.2 118.2 2 1.22
122.2 124.2 2 0.80
143.2 158.2 15 1.07
162.2 163.2 1 2.28
166.2 183.2 17 2.66
including 171.2 173.2 2 7.45
199.2 200.2 1 0.76 FRESH
DDDBS20-007 17 19 2 1.37
29 32 3 0.65
40 41 1 0.89
51 52 1 0.50
55 61 6 1.03
66 70 4 1.14
75 78 3 0.65 SR
84 86 2 8.26 FRESH
89.8 96.8 7 0.77 FRESH
DDDBS20-008 0 30 30 2.96
including 26 28 2 11.7
34 49 15 1.54
58 62 4 0.72
66 67 1 1.26
93.8 95.8 2 2.20 FRESH
118.8 119.8 1 0.74 FRESH
DDDBS20-009 0 4 4 0.68
20 29 9 1.68
33 36 3 1.56
42 43 1 0.98
46 66 20 2.38 SAP+SR
including 64 65 1 11.9 SR
69.5 70.5 1 0.59 FRESH
74.5 79.5 5 0.78 FRESH
106.5 107.5 1 1.03 FRESH
110.5 112.5 2 1.67 FRESH
DDDBS20-010 0 13 13 1.71 LAT+MZ
18 21 3 2.16
24 25 1 0.90
38 39 1 0.64
DDDBS20-011 0 1 1 1.14 LAT
48 50 2 1.03
53 54 1 0.94
86 87 1 0.95
RCDBS20-004 41 42 1 3.83
60 63 3 1.01
78 79 1 2.89
RCDBS20-005 58 59 1 0.54
75 79 4 0.63
82 83 1 1.12
90 106 16 0.79
109 130 21 1.47
134 135 1 2.14
DDDBS20-012 139.4 140.9 1.5 0.52
157.1 158.1 1 0.52
181.1 182.1 1 1.10
205.1 206.3 1.2 0.92
DDDBS20-013 113.3 114.3 1 0.71
127.3 128.3 1 2.83
139.3 145.3 6 0.77
148.3 151.3 3 0.83
DDDBS20-014 151.2 152.2 1 0.51
160.2 170.2 10 1.19
173.2 174.2 1 0.60
180.2 185.2 5 0.87
188.2 195.2 7 0.69
207.2 211.2 4 0.63
215.2 222.2 7 0.84
225.2 229.2 4 0.68
233.2 240.2 7 1.93
245.2 247.2 2 0.70 End of the hole
DDDBS20-015 0 9.3 9.3 3.09 LAT+MZ
including 4.3 6.3 2 8.73 LAT
38.3 44.3 6 0.80
RCDBS20-06 38 39 1 0.63
42 44 2 1.29
47 54 7 0.85
57 58 1 0.72
67 71 4 1.00
74 83 9 1.65
RCDBS20-07 76 81 5 0.77
84 92 8 0.87
103 104 1 1.52
107 111 4 0.99
115 120 5 0.94
RCDBS20-08 100 101 1 1.72

 

 

 

Table 2: Drillhole ID Kabaya Deposit (January 18th, 2021)

 

Hole ID X Collar Y Collar Section AZM DIP
DDDBS20-001 265500 1389700 1389700 90 -50
DDDBS20-002 265520 1389650 1389650 90 -50
DDDBS20-003 265498 1389598 1389600 90 -50
RCDBS20-001 265692 1389685 1389700 270 -50
RCDBS20-002 265719 1389650 1389650 270 -50
RCDBS20-003 265701 1389600 1389600 270 -50
DDDBS20-004 265175 1389400 1389400 90 -50
DDDBS20-005 265180 1389450 1389450 90 -50
DDDBS20-006 265200 1389500 1389500 90 -50
DDDBS20-007 265575 1389526 1389525 270 -50
DDDBS20-008 265624 1389672 1389675 270 -50
DDDBS20-009 265604 1389602 1389600 270 -50
DDDBS20-010 265584 1389740 1389750 270 -50
DDDBS20-011 265555 1389850 1389850 270 -50
RCDBS20-004 265572 1389526 1389525 270 -50
RCDBS20-005 265230 1389450 1389450 90 -50
DDDBS20-012 265130 1389450 1389450 90 -50
DDDBS20-013 265182 1389550 1389550 90 -50
DDDBS20-014 265105 1389450 1389450 90 -50
DDDBS20-015 265520 1389740 1389750 90 -50
RCDBS20-06 265266 1389400 1389400 90 -50
RCDBS20-07 265220 1389400 1389400 90 -50
RCDBS20-08 265175 1389251 1389250 90 -50

 

 

Qualified Person 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.

 

Posted January 19, 2021

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