Roscan Gold Intersects 2.04 gpt gold over 25m, 3.85 gpt over 11m and 5.93 gpt gold over 6m at Kandiole North; Confirms Gold Mineralization Envelope Remaining Open at Depth, Within the Regional Mineralized Structure

Rhea-AI Summary

Roscan Gold Corporation (OTCQB:RCGCF) announced encouraging results from its recent drilling campaign at Kandiole North (KN1). The gold mineralization shows significant lateral and vertical expansion, reaching depths of 275m. Key drill results include 2.04 gpt gold over 25m and 5.93 gpt over 6m, highlighting the area's potential. Future drilling is planned to explore additional targets, which could significantly increase the company's resource estimates and support production at the Kandiole project.

Positive

• Significant drilling results include 2.04 gpt gold over 25m and 5.93 gpt over 6m.
• Gold mineralization extends vertically to 275m and shows potential for expansion.
• Multiple targets (KN2, KN3, KN4) are identified for future drilling, enhancing growth prospects.

Negative

• None.

TORONTO, ON / ACCESSWIRE / February 8, 2022 / Roscan Gold Corporation ("Roscan" or the "Company") (TSXV:ROS)(FSE:2OJ)(OTCQB:RCGCF) is pleased to announce the positive drill results at Kandiole North ("KN1"). The mineralized envelope is expanding in size (Figure 2) as the Q4 drilling campaign demonstrated the gold mineralization extends both vertically and laterally. The Reverse Circulation ("RC") drilling program has improved the continuity, consistency, and the knowledge of the geometry of the gold bearing zones. The gold mineralization is now down to 275m depth, and it is open toward North-South and East directions (Figure 3 and Figure 4).

The main mineralized corridor in KN1 trends is N020 with steep easterly dips over more than 1.5 km punctuated with several artisanal work pits. There is a secondary perpendicular mineralized strike steeply north dipping and forming the enlargements at North and South of the RC drilling zone. The broader geochemical anomalies (Figure 1) indicate a strong potential to extend the KN1 gold mineralization.

Drilling Highlights:

Kandiole North RC Holes

• 2.04 gpt gold over 25m from drill hole RCKan21-0032 from 100m
  • Including 11.28 gpt gold over 2m from 106m
• 2.92 gpt gold over 7m from drill hole RCKAN21-0018 from 17m
  • Including 8.78 gpt gold over 2m from 22m
• 3.85 gpt gold over 11m from 28m
  • Including 24.89 gpt gold over 1m from 31m
• 1.74 gpt gold over 12m from drill hole RCKAN21-0026 from 98m
  • Including 10.9 gpt gold over 1m from 103m
• 1.24 gpt gold over 9m from 128m
  • Including 5.32 gpt gold over 1m from 129 m
• 2.57 gpt gold over 7m from hole RCKan21-0037 from 27m
  • Including 12.84 gpt gold over 1 m from 32m
• 1.3 gpt gold over 17m from 40m
  • Including 4.79 gpt gold over 1m from 41m
  • Including 4.27 gpt gold over 1m from 51m
• 1.27 gpt gold over 6m from 78m
  • Including 4.16 gpt gold over 1m from 83m
• 1.5 gpt gold over 11m from drill hole RCKAN21-0029 from 21m
  • Including 3.31 gpt over 1m from 29m
• 1.12 gpt over 10m from drill hole RCKan21-0038 from 28m
  • Including 4.69 gpt gold over 1m from 32m
• 2.21 gpt gold over 7m from 40m
  • Including 6.72 gpt golf over 1m from 40m
• 1.47 gpt gold over 9m from 62m
  • Including 5.49 gpt gold over 1m from 68m
• 1.32 gpt gold over 11m from 75m
  • Including 3.80 gpt golf over 1m from 82m
• 5.93 gpt gold over 6m from 92m
  • Including 15.54 gpt gold over 2m from 94m
• 1.42 gpt gold over 5m from drill hole RCKAN21-0020 from 23m
  • Including 5.52 gpt gold over 1m from 23m
• 1.97 gpt gold over 6m from drill m from hole from 88m
  • Including 6.75 gpt gold over 1m from 91m

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

Nana Sangmuah, President and CEO, stated, "Kandiole North has been returning some great results and shaping up to be another key target to contribute ounces for our maiden resource estimate. The detailed drilling in KN1 spanning a 675m strike length and 275 m depth remains open for further expansion along strike and at depth. Numerous holes ended in mineralization clearly showing the potential at depth.

There are multiple targets including KN2, KN3 and KN4 within broader arsenic geochemical anomalies that require further follow up and have the potential to significantly expand the Kandiole North footprint.

We are optimistic that these targets within 15 km from our flagship Mankouke South asset would provide incremental feed towards a standalone hub and spoke production scenario at the Kandiole project".

From the recent multielement analysis of the termite mount samples, arsenic-antimony-bismuth pathfinders highlight the Kandiole corridor and its potential to expand KN1 gold mineralization along this geochemical signature.

We note significant pathfinder arsenic anomalies that have been identified on the broader Kandiole land package and the success achieved to date in confirming gold mineralization along such arsenic footprint in the KN1 structure bodes well for future drilling on these yet to be tested targets. (please refer to Figure 1).

Figure 1 Arsenic from Termite geochemistry

Figure 2 Plan View of the KN1 gold mineralization

Figure 3: Cross Section A-B at Kandiole North Depicting the Depth Potential

Figure 4: Cross Section C-D at Kandiole North Depicting the Depth Potential

The KN1 drilling campaign continues to provide very good grades and increases the dimensions of the mineralized envelope, which should be captured in the upcoming maiden resources.

The deep saprolite displays a narrow structural feature and interpreted as trans-tension NE-SW quartz veins within a NE-SW shear corridor developing some perpendicular extension veining (enlargement gold envelope). The host rock is clastic sediment from fine grain shale to coarser greywacke strongly weathered and the quartz veining gold bearing system is associated with disseminated pyrite and arsenopyrite.

There are other gold occurrences (KN2 and KN4) at the southeast of the permit which clearly require additional follow up drilling on the Siribaya-Mankouke-Seko major structural corridor, which carries several gold deposits.

As previously reported, these targets delivered some significant intercepts as 1.86 gpt gold over 12m, 2.03 gpt gold over 14m, 3.38 gpt gold over 12m, 1.58 gpt gold over 10m from the regional exploration Air core holes. See Figure 2a: Plan View showing high grades at Kandiole North with Strike Length 2km. https://roscan.ca/investors/news-releases/roscan-gold-continues-to-expand-and-upgrade-the-kandiole-north-discovery-with-a-2-000m-strike-length-and-92m-depth-that-remains/.

The KN1 gold mineralization trend appears to be in the same regional structure as Moussala (MO1) gold mineralization (Figures 5). There are still several other auriferous occurrences in the Kandiole North permits to develop, all located in the major Siribaya-Mankouke-Seko regional structure.

Figure 5: Plan View of the Major Trends on our Regional Targets

Geology

The gold mineralization at Kandiole North is located approximately 20km east of the Fekola mine (B2Gold Corp.), but also along a prospective NE-SW structural corridor parallel to the main corridor Siribaya-Mankouke-Seko. Gold mineralization in Kandiole North occurs within the metasediments of the Kofi formation.

Drilling and Analytical Protocol

Roscan uses Geodrill Reverse Circulation (RC) to drill until maximum 170m to reach the target.

The samples have sent for preparation to the ALS Laboratories in Bamako, Mali and assayed at their analytical facilities to Ouagadougou for 1 kg Bottle Roll with atomic absorption finish including tail analysis for results more than 0.05ppm. Roscan applied industry-standard QA/QC procedures to the program using reference materials, blanks, standards, and duplicates.

Table 1: Drillhole Highlights of Kandiole North (Oct-Dec 2021)

Table 2: Drillhole ID of Kandiole North (Oct-Dec 2021)

Qualified Person (QP) and NI 43-101 Disclosure

Greg Isenor, P. Geo., Director 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.

For further information, please contact:

Nana Sangmuah
President & CEO
Tel: (902) 832-5555
Email: info@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

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FAQ

What are the recent drill results from Roscan Gold's Kandiole North project?

Recent drill results from Kandiole North include significant intercepts such as 2.04 gpt gold over 25m and 5.93 gpt over 6m, indicating strong gold mineralization.

How deep does the gold mineralization extend at Kandiole North?

The gold mineralization at Kandiole North extends down to 275m in depth.

What are the plans for further drilling at Kandiole North?

Roscan Gold plans to drill additional targets (KN2, KN3, KN4) to explore and potentially expand the mineral resources at Kandiole North.

How does the Kandiole North project contribute to Roscan Gold's overall strategy?

Kandiole North is expected to contribute significantly to Roscan Gold's maiden resource estimate and supports plans for a standalone production scenario.

What is the stock symbol for Roscan Gold Corporation?

The stock symbol for Roscan Gold Corporation is RCGCF, traded on the OTCQB.