Roscan Gold Acquires 55 km2 Land Package Approximately 1.6 km to the North-East of B2Gold Fekola Permit

Rhea-AI Summary

Roscan Gold Corporation has expanded its Kandiole Project by acquiring the Bantanko East permit, adding 55 square kilometers to its land package, which now totals 401.8 square kilometers. This acquisition is strategic due to its proximity to significant mineral deposits and the Senegal-Mali Shear Zone. The company aims to leverage this expansion to enhance its exploration efforts, with six gold discoveries in 15 months. Roscan envisions becoming a major player in the gold mining sector of Southwest Mali, focusing on sustainable practices and collaboration with local communities.

Positive

• Acquired Bantanko East permit, increasing land package to 401.8 square kilometers.
• Strategically located near significant gold deposits like B2Gold's Fekola Mine.
• Six gold discoveries in the last 15 months indicate strong exploration potential.

Negative

• None.

TORONTO, ON / ACCESSWIRE / April 12, 2021 / Roscan Gold Corporation ("Roscan" or the "Company") (TSXV:ROS)(FSE:2OJ)(OTC PINK:RCGCF) is pleased to announce the Company has strategically expanded its land package of the Kandiole Project, by acquiring the permit to the immediate West of the recently acquired Segondo West permit. (Feb. 2021).

This new permit, called Bantanko East (Figure 1), adds a significant additional 55 square kilometers to the Kandiole Project, increasing the total land package of 401.8 square kilometers, making Roscan one the largest land holders in the area. We highlight the interpreted occurrence of a second order splay structure coming off the Senegal-Mali Shear Zone (SMSZ) and running north east through the Bantanko East permit. Splay structures off the SMSZ are important feature as the Yalea, Gara and Gounkotou deposits in the Loulo area and B2Gold Fekola Mine are located on second order structures coming off the SMSZ (Figure 2).

Nana Sangmuah, President and CEO, stated, "This new acquisition is strategic as it apparently is linked to two prospective first order structures, the SMSZ and the SMKS. Second order splays from the main SMSZ have yielded several Tier 1 discoveries in the camp including B2Gold's Fekola Mine Property, which is approximately 1.6km away from the newly acquired land. We are delighted to continue to increase our footprint in South Western Mali, a world class under-explored region.

This key acquisition and recent discoveries point to the significant exploration upside potential available to shareholders. With over 400km² of highly prospective land in a prolific gold camp, 6 distinct gold discoveries over the past 15 months and multiple new prospective targets yet to be tested we are building the scale required to achieve our longer-term goal of putting together a Tier 1 scale gold project at Kandiole. Our goal is to add value through the drill bit from strategic targeting and resource definition.

Our vision is to become a major player in the area, while working collaboratively with the surrounding communities and Government in a sustainable manner. This key acquisition and recent discoveries are testaments to the strength of our technical team, our strong local presence and the tremendous exploration upside potential at Roscan."

Figure 1: Location of Roscan Permits with New Acquisition

Figure 2: Roscan Permits and Regional Structures

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.

About Roscan

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
Email: aramcharan@Roscan.ca

Greg Isenor, P.Geo
Executive Vice-Chairman
Tel: (902) 832-5555
Email: gpisenor@Roscan.ca

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.

Neither the 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: Roscan Gold Corporation

View source version on accesswire.com:
https://www.accesswire.com/639845/Roscan-Gold-Acquires-55-km2-Land-Package-Approximately-16-km-to-the-North-East-of-B2Gold-Fekola-Permit

FAQ

What is the significance of Roscan Gold's acquisition of the Bantanko East permit?

The Bantanko East permit enhances Roscan Gold's exploration footprint in a region known for significant gold deposits, potentially increasing future resource discoveries.

How much land has Roscan Gold acquired with the Bantanko East permit?

Roscan Gold acquired 55 square kilometers with the Bantanko East permit, bringing its total land package to 401.8 square kilometers.

What are the future prospects for Roscan Gold following the recent acquisition?

The acquisition is expected to significantly enhance Roscan Gold's exploration potential, with the company targeting further gold discoveries and aiming to develop a Tier 1 scale gold project.

How does the Bantanko East permit relate to other nearby gold deposits?

The Bantanko East permit is strategically located near the B2Gold Fekola Mine and other deposits, linked through the Senegal-Mali Shear Zone, which is known for hosting significant gold resources.

What does the expansion of the Kandiole Project mean for Roscan Gold shareholders?

The expansion of the Kandiole Project suggests increased exploration potential and the possibility of future resource discoveries, which could create value for shareholders.