Roscan Gold Corporation is pleased to announce its initial, pit-constrained, interim NI 43-101 compliant Mineral Resources reported at a gold price of only 1,500 USD per oz, of 27.4 million tonnes grading 1.2 g/t Au totaling 1.02 million ounces of gold in the Indicated Category and 5.2 million tonnes grading 1.2 g/t Au totaling 198,000 ounces of gold in the Inferred category at its Kandiole project in Mali.
Roscan’s maiden pit constrained Mineral Resource includes gold mineralization from six mineral deposits: Mankouke South, Mankouke Central, Kandiole1, Kandiole 2 and 4, Kabaya and Moussala. The discovery areas of Disse, Walia and Mankouke West were not included in the maiden resource due to lack of sufficient drilling to date but will be areas of upside for future exploration.
The cutoff date for data used in the resource estimate was March 25 th 2022. Since March 25 th , Roscan has continued its drilling campaign to infill and extend the saprolite resource area and to follow up on the deeper mineralization at the Mankouke South and Kandiole targets. Drilling results have encountered plunging zones of mineralization that remain open, which are currently being drilled and assayed.
Good metallurgical recoveries
Nana Sangmuah, President & CEO, stated, “This mineral resource suggests a stand-alone project status for the Kandiole Gold Project. The good metallurgical recoveries, high-grade starter pit, low strip ratios, and the high-quality resource with 84% included in the indicated resource category and 72% within saprolite, points to a potential high-margin LOM operation.
Importantly, this initial resource is just the beginning for the overall project potential, the mineral resource remains open to further growth with the pending results from our incremental drilling, which remains ongoing. In addition, there are 3 advanced targets and discoveries not yet captured to be included in subsequent updates, such as demonstrated by the drilling success at Walia, Disse and Kandiole North extension.
Management intends to commence in short order environmental studies to facilitate the permitting and further de-risking project development. We are encouraged by the ultimate scale potential at the Kandiole Project which we believe has significant upside and clearly positions Roscan amongst the few junior resource companies that can transition from early exploration to a significant mining operation.”