RosCan Minerals Corporation

  • ISIN: CA7768211004
  • Land: .

Nachricht vom 15.08.2018 | 23:30

RosCan Minerals Provides Update on Dormaa Project - Ghana and Kandiole Project - Mali, West Africa

DGAP-News: RosCan Minerals Corporation / Key word(s): Miscellaneous

15.08.2018 / 23:30
The issuer is solely responsible for the content of this announcement.


Toronto, Ontario--(Newsfile Corp. - August 15, 2018) - RosCan Minerals Corporation (TSXV: ROS) ('RosCan' or the 'Company') announces results from Air Core ('AC') drilling carried out on the Dormaa Property, Ghana, West Africa, in which RosCan has an option to earn a 50% interest.

  • RosCan has elected to discontinue the option due to unfavorable drilling results,
  • RosCan also provides an update on the Kandiolé Project, Mali, West Africa.

Exploration Update Ghana
The AC drill program was planned to investigate the mineralization which was suspected to be coherent with anomalous surface geochemical responses. Six targets were generated to be tested in the drill program. The targets were located at Amasu, Pampamsu, Aboabo No. 1 and Subinkrom within the Dormaa Project.

RosCan has the right to earn a 50% interest in the 86 km2 concession, located in the Brong Ahafo Region of Ghana, by paying a total of $260,000, ($10,000 of which has been paid) and funding a total of $2,000,000 of exploration to be completed by Pelangio, ($300,000 of which has been spent). RosCan has elected to discontinue the option on the Dormaa property to allow greater focus on its core project, the Kandiolé Project in Mali. As a result, 100% interest in the property will revert to Pelangio.

Details of the Drilling Program:

  • 49 AC holes were drilled on the Dormaa Project;

  • The AC holes were drilled on six fences at 25 metre (m) spacing in a head-to-heel arrangement with approximately 8 holes per fence; and

  • An average depth per hole was 41m with a total of 2013.5m completed.

A total of 1332 samples were submitted to Intertek Labs in Tarkwa, Ghana, for fire assay gold analysis on 50-gram pulps.

The initial results revealed a total of 31 intercepts of gold mineralization greater than 0.1g/t within five of the six target areas. Of these results, Hole DOAC18-10 recorded 1.2g/t as the highest grade of the entire drilling program within the interval 20-21.5m. Hole DOAC18-07 recorded 0.69g/t from 17-18.5m. These results were well below expectation, hence, a limited re-sampling of the AC samples was carried out and analyzed at the ALS lab in Kumasi, Ghana, for gold using Screen Fire Assay.

Re-Sampling for Screen Fire Assay Analysis
A total of 82 sample rejects were processed by ALS labs for Screen Fire Assay on 1000 gram pulps. Screen Fire Assay was conducted on a few intervals which had weak indications of gold mineralization in the initial fire assay procedure. 82 intervals (each interval is 1.5m) were re-sampled for Screen Fire Assay which did not show a material difference from the original results. As a result, no further work is planned for the Dormaa Project at this time.

Quality Assurance/Quality Control for Dormaa Sample Assaying
The drill holes reported in this press release were drilled using 95mm sized AC centre-returned drill bits to an average depth of 41m. All drilling performed with the AC set-up was completed within oxides without water injection. Contractors working for Pelangio conducted all logging and sampling. Company security is provided at the drill site.

Sample intervals for the AC drilling were 1.5m, with samples being split from a cyclone exhaust and weighed. A sample in return was split from the primary sample with a riffle splitter to obtain an average 2.5 kilogram sample for assay. A sample of chips was extracted from the primary sample with a sieve and water and put in a chip tray with the interval marked on the chip tray. Field logging were aided with hand lens. The 2.5 kilogram sample for assay is placed into sealed bags securely stored at the site until it was shipped to Intertek Minerals Limited (Intertek), laboratory in Tarkwa, Ghana. The AC samples were dried and pulverized to 75 microns by Intertek and a 150 gram pulp was prepared from the pulverized material. Intertek conducted routine gold analysis using a 50 gram charge and fire assaying with atomic absorption ('AAS') finish. Quality control procedures included the systematic insertion of blanks, duplicates and Certified Reference Materials ('CRM') into the sample stream at the rate of one per every 20 samples. In addition, Intertek inserted one preparation blank and a CRM every 20 samples and ran one duplicate analysis every 20 samples.

The Screen Assay Procedure — ALS Labs for Dormaa Sample Assaying
The gravimetric method was used. 1000 gram of the final prepared pulp is passed through a 100 micron (Tyler 150 mesh) stainless steel screen to separate the oversize fractions. Any +100 micron (coarser than 100 micron) material remaining on the screen is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction result. The -100-micron fraction is homogenized, and two sub-samples are analyzed by fire assay with AAS finish (Au-AA24 and Au-AA24d). The average of the two AAS result is taken and reported as the Au (-) fraction result. All three methods are used in calculating the combined gold content of the plus and minus fractions.

In the fire assay procedure, the sample is fused with a mixture of lead oxide, sodium carbonate, borax, silica and other reagents as required in order to produce a lead button. The lead button containing the precious metals is cupelled to remove the lead and the resulting precious metal bead is parted in dilute nitric acid, annealed and weighed to determine the gold content.

The gold values for both the +100 and -100 micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample.'

Exploration Update — Mali
The initial permit acquisition phase for the Kandiolé Project has been completed and reconnaissance mapping, prospecting and grab sampling has also been completed on the entire project area. Currently, the 2018 exploration program at Kandiole has been suspended for the seasonal rains. In addition, detailed soils and termite samples have been collected from areas of immediate interest. All grab sample assays have been received and soil and termite samples have been sent for analysis. Results will be released once they are received, validated and compiled.

Additional permits are currently being evaluated and considered for acquisition.

Qualified Person
The technical content of this press release has been reviewed and approved by Mr. Greg Isenor, P.Geo. (PGO #0074), a Qualified Person as defined in NI 43-101, and Mr. Warren Bates, P.Geo. (APGO #0211), who is also a qualified person, as defined by NI 43-101, and has reviewed and approved the technical contents of this press release.

ABOUT ROSCAN
RosCan Minerals Corporation is a Canadian gold exploration company focused on West Africa. The Company has assembled a land position of 100%-owned permits in an area of large gold deposits for 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: 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.

Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/38116


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The issuer is solely responsible for the content of this announcement.

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