Roscan reports initial pit-constrained interim 1.2Moz gold resources at its Kandiolé project in Mali

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(Kitco News) - Roscan Gold (TSXV: ROS) today announced its initial, pit-constrained, interim NI 43-101 compliant mineral resources at the company's Kandiole project in Mali.

According to the company's statement, at a gold price of only 1,500 USD per oz, the project's mineral resources amounted to 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.

Roscan said that maiden pit constrained mineral resource includes gold mineralization from six mineral deposits: Mankouke South, Mankouke Central, Kandiole1, Kandiole 2 and 4, Kabaya and Moussala.

Importantly, the company added that 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 company also noted that drilling results have encountered plunging zones of mineralization that remain open, which are currently being drilled and assayed.

President and CEO Nana Sangmuah 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."

He also pointed out that this initial resource is just the beginning for the overall project potential, as the mineral resource remains open to further growth with the pending results from incremental drilling, which remains ongoing.

In addition, he said that 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.

Roscan Gold is a Canadian gold exploration company focused on the exploration and acquisition 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 and major gold deposits, located both north and south of its Kandiole project in West Mali.