Toronto, Ontario--(Newsfile Corp. - January 11, 2021) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTC Pink: RCGCF) ("Roscan" or the "Company") is pleased to announce the Company has strategically expanded its land package by acquiring the property to the immediate West of the Mankouke Permit (Figure 1), which is a crucial additional 16km^2 to the Kandiole Project. It is clearly apparent, as shown in Figure 1, that the magnetic signature of the Siribaya-Mankouke-Seko Structure and the mineralization outlined in the Mankouke Trend extends over the newly acquired Mankouke Prospecting License.
Additionally, Roscan has completed a "Hi-Resolution Airborne Geophysical Survey", which consists of approximately 3,900 kilometers of flight lines at approximately 30m above ground over the Company's entire Kandiole Project. Data processing and interpretation will now be undertaken, followed by development of magnetic inversion and electromagnetic models. This digital information will then be integrated with all drilling data, surface geochemistry, geology and regolith maps in a generative study designed to develop targets for follow up exploration in 2021.
Nana Sangmuah, President and CEO, stated, "This new acquisition is very critical as it captures the western offset of the magnetic structure associated with our Southern Mankouke Discovery. This structure extends for 22Km towards the NE into our Kabaya Target and we await the complete 3D interpretation of geophysics to commence delineation drilling to enhance the footprint of the initial discovery. The 3D target delineation and prioritization exercise would refine our existing targets, define new targets and significantly enhance our discovery rate. We are looking forward, with great optimism, to an exciting year in 2021.
The current discoveries at Mankouke South, Kandiole North, Walia and Moussala North in such a short time span, and other near surface discoveries, are testaments to the strength of our technical team, and the tremendous exploration upside potential at Roscan."
Figure 1: Location of Roscan Permits with New Acquisition
To view an enhanced version of Figure 1, please visit:
- The Geophysics Map (Figure 1), clearly highlights the major structure of our Mankouke and Kandiole Discoveries trending into the newly acquired land package. The Company remains funded to support an extended drill campaign that will generate news flow.
- The Company chose to undertake a combined EM and magnetic survey in order to be able to define both the structural and geological framework, as both of these parameters are critical for defining the locus of shear hosted gold deposits within the Mali west region. The Survey was carried out by New Resolution Geophysics ("NRG"), utilizing their proprietary Xcite Electromagnetic (AEM) system, in conjunction with the collection of magnetic and radiometric data.
- We await interpretation of the Geophysics Survey to better define our targets, which will be tested as part of the 2021 exploration drilling campaign. A target generation exercise is now in process incorporating all drilling, surface geochemistry and geology with the new, recently processed, geophysical data. Initial results from the newly acquired EM data highlight a broad (6km wide), structural corridor spanning +24km over the company's permit portfolio in a N20 trend and hosting multiple conductive bodies which include all of the currently known, priority gold targets and discoveries. Additionally several anomalies along this trend are yet to be tested.
- Current drilling on the project targeting the Mankouke Permit, as well as testing along its strike and down dip extensions to confirm the depth and continuity of the Zone in Fresh Rock, is ongoing. Management intends to include in the drill campaign this new land package for possible extension of the Mankouke and Kandiole Mineralization.
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.
Roscan Gold Corporation 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, P.Eng
Executive Vice President - Corporate Development and Investor Relations
Tel: (902) 832-5555
Greg Isenor, P.Geo
Tel: (902) 832-5555
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.
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