Home > Market Activity > Get Quotes > News > News Article

Roscan Gold Corporation

Exchange: TSXV Exchange | Apr 25, 2019, 2:52 AM EDT

$ 0.135 real time data Change Up
0.025 (22.73%)
Real-time price
Day Low 0.11
Day High 0.135

Roscan Signs Drilling Contract With Geodrill for the Kandiole Project; Provides Update on Exploration Program

TORONTO, Oct. 31, 2018 /PRNewswire/ - Roscan Gold Corporation ("Roscan" or the "Company") (TSX-V: ROS) is pleased to announce that it has signed a contract with Geodrill Ltd. to commence drilling on, or about, November 15, 2018 at the Company's 100%-owned Kandiole Project in West Mali. A 3,500 metre Air Core ("AC") drilling program has been designed to test the numerous, high-quality, gold geochemical anomalies previously identified. The program is expected to be completed prior to December 31, 2018.

The AC drilling program will include holes of maximum depths of 50 meters and a dip angle of no less than 50 degrees. At present, drilling access roads are being completed and detailed information on drilling targets will be provided to the market in a future news release prior to the beginning of the program. A map identifying targets and illustrating the drill plan will also be disseminated. 

It is expected that in early 2019, a follow up program of Reverse Circulation ("RC") drilling will be initiated in areas with the most significant AC results.

In addition, a crew of 25 personnel, including three senior geologists, are at the site and presently working. The exploration camp has been set up to support the field crews and equipped to manage all of the data being collected. Three sampling crews are active in the field with soil and termite sampling. The sampling program has been designed to cover all of the high priority targets and other areas of interest and will result in approximately 75% of the permits covered. It is expected that this sampling program will identify further drilling targets.

"We were encouraged by the amount and strength of the previously announced Au-in-soil and termite mound anomalies that were identified in an area of existing gold mines and are excited to begin this initial drill program," stated Greg Isenor, Roscan President and CEO. "We plan to release the first tranche of drill results in early to mid December, along with future plans of the next phase of RC drilling. We are confident in the bright future of Roscan and see this initial drilling program as the first step to building value for Roscan shareholders," Mr. Isenor continued.

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 large gold deposits for its Kandiole Project in west Mali. 

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. 

Cision View original content:http://www.prnewswire.com/news-releases/roscan-signs-drilling-contract-with-geodrill-for-the-kandiole-project-provides-update-on-exploration-program-300740897.html

SOURCE RosCan Gold Corporation

Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. View delay times for all exchanges. Market Data powered by QuoteMedia. See the QuoteMedia Terms of Use.