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RosCan Makes Gold Discovery at Its Kandiole Project in Western Mali

Newsfile Corp.

8.47 g/t Au over 18 metres and 8.68 g/t Au over 14 metres

Toronto, Ontario--(Newsfile Corp. - January 24, 2019) - RosCan Gold Corporation (TSXV: ROS) ("RosCan" or the "Company") is pleased to announce the positive assay results from its initial Air Core drilling program at its Kandiole Project in Mali, West Africa. This drilling program was completed during December 2018 and was designed to test strong termite and soil gold anomalies (see September 21, 2018 press release). Significant amounts of saprolite-hosted gold mineralization was discovered in each of the two areas that were tested with the best results returned from the Mankouke area (see location map and cross-section). A summary of significant results is presented in Table 1.

HIGHLIGHTS*

  • 5.94 g/t gold over 14 metres (including 26.7 g/t gold over 2 metres)
  • 8.68 g/t gold over 14 metres (including 41.5 g/t gold over 2 metres)
  • 8.47 g/t gold over 18 metres (including 29.0 g/t gold over 4 metres)
  • 4.98 g/t gold over 8 metres (including 16.6 g/t gold over 2 metres)
  • 3.06 g/t gold over 8 metres (laterite-hosted)
  • 2.71 g/t gold over 4 metres (laterite-hosted)

*True width could not be determined with the information available.


COMMENTARY


Greg Isenor, President and CEO of RosCan Gold stated that " this is an excellent new discovery with very good gold grades. The mineralized zone is open to depth and appears, from a limited amount of drilling, to extend to the next drill line located approximately 250 metres to the north, and hopefully beyond, along this large geochemical anomaly. We are extremely pleased that our approach to exploration in this area has again been successful. Additional drilling is part of an obvious next step." This program is just starting, and we are encouraged by the indications that the apparent high-grade zone continues to depth.


DRILLING PROGRAM


The air core drilling was completed over five anomalies that were tested with seven lines of AC holes drilled across the target areas generally in an east-west direction and drilled at -50 degrees to the west and to a depth of 45 to 60 metres in a heel to toe fashion. These anomalies were identified by a sampling program that had covered only 20% of the total land package. Significant gold mineralization was intersected in two areas, in first pass air core holes, at Mankouke on drill lines 1 and 7 and at Moussala North on drill line 4 (see Figure 1 for general locations).


Air Core drilling is used to sample unconsolidated ground and compressed air is used to remove the cuttings from the hole. During the Kandiole drilling program samples of 2 metres were collected. For each 2 metre intersection a 2 kilo sample was collected and sent to the laboratory. A check sample of approximately 5 kilograms was collected for possible future tests.


PLANS


Further drilling will be carried out to test the extent of the mineralization at depth and along strike to the north and south of the strongly mineralized zones. Additional gold-in-termite and termite anomalies zones remain to be tested. The soil and termite sampling has identified anomalous trends that are consistent with the regional trends.


In addition, new termite mound sampling has been carried out over a significant part of the property that has not been covered before; results are pending.


QUALIFIED PERSON AND SAMPLE PROTOCOL


The technical content in this news release has been reviewed and approved by Gregory P. Isenor, P. Geo, a Qualified Person as defined by NI 43-101. For quality control, duplicated samples were systematically collected in the field, and blank samples were inserted in the sample batches sent to the laboratory. A total of 63 blank samples and 62 duplicates were included in the sample batches sent to the lab. Before their transportation, the samples were stored in a RosCan secured location in the field. Batches of samples were transported by truck, driven by RosCan contractors, up to the sample preparation installations of Bureau Veritas laboratory at Bamako; prepared samples were then shipped by Bureau Veritas to their treatment installations at Abidjan, Ivory Coast. During the assay process, the laboratory applied its own quality controls with blanks, duplicates and standard samples. The assay method was atomic absorption (AA) with pre-concentration by fire assay (FA); the detection limit of the method is of 5 ppb.


ABOUT ROSCAN


RosCan Gold Corporation is a Canadian gold exploration company focused on the acquisition and exploration 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:

Greg Isenor
President and Chief Executive Officer
Tel: (902) 832-5555 or (416) 293-8437
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.

ROSCAN AC DRILLING PROGAM 2018 - SIGNIFICANT ASSAY RESULTS, S.F. 22/01/2019

Hole # Line # FROM
(m)
TO
(m)
INTERSECTION
(g/t Au)/m
ACMan-18-04 Line 1 8.0 12.0 0.62 g/t Au over 4.0 m
ACMan-18-05 Line 1 8.0 14.0 0.54 g/t Au over 6.0 m
ACMan-18-06 Line 1 0.0 2.0 0.63 g/t Au over 2.0 m
ACMan-18-08 Line 1 0.0 8.0 3.06 g/t Au over 8.0 m
ACMan-18-09 Line 1 6.0
12.0
8.0
16.0
1.53 g/t Au over 2.0 m
2.71 g/t Au over 4.0 m
ACMan-18-10 Line 1 8.0
14.0
10.0
16.0
0.78 g/t Au over 2.0 m
0.58 g/t Au over 2.0 m
ACMan-18-11 Line 1 10.0 12.0 0.76 g/t Au over 2.0 m
ACMan-18-12 Line 1 12.0
20.0
32.0
14.0
28.0
38.0
0.59 g/t Au over 2.0 m
0.58 g/t Au over 8.0 m
1.22 g/t Au over 6.0 m
ACMan-18-14 Line 2 12.0 14.0 0.59 g/t Au over 2.0 m
ACMan-18-16 Line 2 8.0 14.0 0.72 g/t Au over 6.0 m
ACMan-18-17 Line 2 4.0 10.0 0.59 g/t Au over 6.0 m
ACMan-18-18 Line 2 4.0 6.0 5.10 g/t Au over 2.0 m
ACMan-18-29 Line 3 10.0 12.0 0.55 g/t Au over 2.0 m
ACMan-18-31 Line 3 20.0 22.0 0.50 g/t Au over 2.0 m
ACMan-18-41 Line 3 4.0 6.0 0.94 g/t Au over 2.0 m
ACMan-18-54 Line 7 8.0 10.0 7.99 g/t Au over 2.0 m
ACMan-18-80 Line 7 0.0 2.0 0.63 g/t Au over 2.0 m
ACMan-18-81 Line 7 0.0
10.0
14.0
12.0
5.94 g/t Au over 14.0 m
Inc. 26.70 g/t Au over 2.0 m
ACMan-18-82 Line 7 10.0
16.0
30.0
24.0
18.0
32.0
8.68 g/t Au over 14.0 m
Inc. 41.50 g/t Au over 2.0 m
0.61 g/t Au over 2.0 m
ACMan-18-83 Line 7 0.0
26.0
36.0
2.0
44.0
40.0
0.81 g/t Au over 2.0 m
8.47 g/t Au over 18.0 m
Inc. 29.0 g/t Au over 4.0 m
ACMan-18-84 Line 7 0.0
30.0
42.0
44.0
14.0
32.0
45.0
45.0
0.82 g/t Au over 14.0 m
0.55 g/t Au over 2.0 m
8.17 g/t Au over 3.0 m
Inc. 20.8 g/t Au over 1.0 m
ACMan-18-85 Line 7 0.0 2.0 0.56 g/t Au over 2.0 m
ACMou-18-01 Line 4 2.0
14.0
24.0
4.0
20.0
30.0
0.50 g/t Au over 2.0 m
0.70 g/t Au over 6.0 m
1.62 g/t Au over 6.0 m

ACMou-18-02 Line 4 16.0
22.0
32.0
24.0
24.0
36.0
4.98 g/t Au over 8.0 m
Inc. 16.60 g/t Au over 2.0 m
2.75 g/t Au over 4.0 m
ACMou-18-17 Line 5 2.0 4.0 35.50 g/t Au over 2.0 m

 

Note 1: this table includes all the mineralized intersections with a grade > 0.50 g/t Au; these intersections are considered as significant intersections.

Note 2: intersections in bold refer to intersections with a grade > 0.50 g/t Au, and a length > 2.0.

Note 3: true width could not be determined with the information available.

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Figure 1

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Figure 2

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