Roscan reports high-grade results from Kandiole project

Roscan Gold (TSXV: ROS; US-OTC: RCGCF) has released a new batch of drill results from its Kandiole project in Mali, about 400 km west of the nation’s capital, Bamako, and says it expects to deliver a first resource estimate before the end of the year.

Results from the project’s Southern Mankouke zone included 3.53 grams gold per tonne over 17 metres starting from 121 metres in drillhole RCMAN21-55; 4.06 grams gold per tonne over 5 metres from 67 metres in in drillhole RCMAN21-51; and 4.43 grams gold per tonne over 5 metres starting  from 42 metres in drillhole RCMAN21-48. The holes were drilled into the Mankouke Discovery zone (MS3).

The mineralization at MS3 is near surface, starts in saprolite, and is open to the west, north and east.

Highlights from the Mankouke Discovery zone (MS1) featured 3.31 grams gold per tonne over 16 metres starting from 258 metres in drillhole DDMAN21-116, including 11.97 grams gold per tonne over 3 metres and 1.48 grams gold per tonne over 12 metres. Drillhole DDMAN21-114 returned 3 metres of 11.03 grams gold per tonne from 126.5 metres and 3.43 grams gold over 9 metres from 141.5 metres in drillhole DDMAN21-112.

The mineralization at MS1 is strongly associated with the alteration and often with occurrences of quartz veins and veinlets and also fractured rock. It is open at depth and laterally.

“We continue to be very excited as the mineralization of our Mankouke South flagship continues to expand, now with the doubling of the MS3 footprint, which remains open to the west-east and at depth,” Nana Sangmuah, the junior exploration company’s president and CEO, stated in a news release. “At MS1, we are also very pleased by the broadening of the sulphide zone at depth with consistent high-grade intercepts, pointing to the feeder zone opening up at depth.”

Assays from 20,000 metres is pending.

The project is about 25 km east of B2Gold’s (TSX: BTO; NYSE-AM: BTG) producing Fekola mine, and is within trucking distance of Iamgold’s (TSX: IMG; NYSE:IAG) Boto and Diakha deposits. Other major gold deposits within 80 km of Kandiole include Barrick’s (TSX: ABX; NYSE: GOLD) Loulo and Gounkoto; Iamgold and AngloGold Ashanti’s (NYSE: AU) Sadiola; and privately held BCM’s Tabakoto and Segala.

Last year the company reported three discoveries: Kandiole North, about 10 km from its flagship Mankouke South target; Mousalla North, about 8 km northeast of Kandiole North; and Walia, about 15 km from Kandiole North.

The company has also been busy acquiring new parcels of land in the region.

Over the last year, Roscan has traded in a range of 27.5¢ and 64¢ and at presstime was trading at 28.5¢. The junior has about 328 million common shares outstanding for a market cap of about $94 million.