Roscan Gold Corp. [ROS-TSXV; 2OJ-FSE] has released positive diamond drill results from an additional four holes totalling 771 metres at its Mankouke South target on the Kandiole Project in West Mali, West Africa.
The drill program has extended the depth of the Southern Mankouke target from 80 metres in February, 2020, to 120 m in mid-April, 2020, and to 155 m currently. Additionally, drill hole DDMan-20-31 depicts the depth potential to the north. The high grades over large widths shown with these most recent drill holes have extended the depth of this target.
Highlights from Mankouke South target:
4.84 g/t gold over 62.0 metres from drill hole DDMan-20-29 from 39.2 m, including 12.7 g/t gold over 7.0 metres from 55.2 metres, including 10.0 g/t gold over 13.0 metres from 73.2 metres.
Drill hole DDMan-20-29 returned 2.61 g/t gold over 31.0 metres from110.2 metres and hole DDMan-20-30 returned 4.76 g/t gold over 46.0 metres from 50.2 metres, including 18.6 g/t gold over 2.0 metres from 61.2 metres, including 11.3 g/t gold over 10.0 metres from 85.2 metres.
Hole DDMan-20-31 returned 2.71 g/t gold over 38.0 metres from 127.2 metres, including 9.81 g/t gold over 5.0 metres from 156.2 metres as well as 2.18 g/t gold over 4.0 metres from 181.2 metres.
Nana Sangmuah, President and CEO, stated: “We are very pleased with these wide, high-grade diamond drill holes results, which represent the highest gram-metre intersections to date. These results support mineralization to an approximate 155-metre depth, which remains open. The geological understanding at our project is clearly improved with this round of drilling. Based on the current data set it appears there is a northern plunge, which is similar to other major deposits in the surrounding area. We continue to drill deeper and along strike to the north to ascertain the limits of the mineralization.”
Mankouke South remains open at depth and along strike to the north; the Mankouke South target drilling program continues to test strike, depth and plunge extensions of the mineralized system; geological modelling exercises are currently in progress in order to understand and project this mineralized zone; exploration has not been impacted to date by COVID-19 virus to date.
The gold mineralization at Mankouke South is associated with quartz veining and/or disseminated and stringer pyrite hosted in brecciated, silicified and locally sheared greywackes and mudstones underlain by interbedded limestones and mudstones of the Kofi formation. Mankouke South is located approximately 25 km east of the Fekola mine (B2Gold Corp.). This mineralized system is structurally aligned with the Mankouke South mineralization that occurs in the structural corridor that also hosts the Siribaya deposits to the south (Iamgold Corp.), Roscan’s Mankouke Central prospect along the 7-km long Mankouke corridor target and the company’s neighbours to the north (Oklo Resources Ltd.).
Roscan Gold 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 which lie in a contiguous property to the west of Kandiole and major gold deposits, located both north and south of Kandiole.
Roscan Gold and a syndicate of agents led by Clarus Securities Inc. and Canaccord Genuity Corp. have agreed to increase the size of the previously announced $5-million offering to $7.5-million at a price of 32 cents per share.