RosCan Gold Corp. [ROS-TSXV] on Thursday January 24th announced positive results from an initial Kandaole Project in Mali, West Africa.
The anomalies in termite mounds with coincident gold-in-soil gold anomalies.
The company said significant amounts of saprolite-hosted gold mineralization were discovered in each of the two areas that were tested. The best results were reported in the Mankouke area
Highlights include 5.94 g / t gold over 14 meters, including 26.7 g / t gold over 2 meters and 8.68 g / t gold over 14 meters, including 41.5 g / t gold over 2 meters.
RosCan shares advanced 16.7% or $ 0.01 to $ 0.07 on volume of 932,000. The 52-week range is $ 0.05 and 11 cents.
"This is an excellent grade," said RosCan CEO Greg Isenor.
RosCan has been working on a sizeable land position in the Biriminian Rocks of West Mali, one of the most productive greenstone belts on the African continent. It has signed option agreements with Touba Mining LLC, allowing RosCan to earn a 100% interest in the 56 km 2 Kandiole-North permit and the 27-km 2 Kandiole-West permit. It also has the option to acquire a 100% stake in the 16-km 2 Mankouke permit. In addition, RosCan has an option to earn 100% interest in the 65-km 2 Segando-South and 32-km 2 Moussala North permits.
As a result, the Kandiole Project consists of approximately 271 km 2 of contiguous land, consisting of five permits and located east of B2Gold Corp. 's [BTO-TSX; BTG-NYSE] Fekola Mine and Iamgold Corp. 's [IMG-TSX; IAG-NYSE] Boto and Diakha deposits.
In November 2018, Roscan said it had launched a $ 3,500 air core drilling program which was designed to test several geochemical gold anomalies. The program is expected to consist of approximately 77 holes (47 holes on Mankouke and 30 holes on North Moussala).
On Thursday, the company said that it is one of a number of anomalies that have been investigated in the United States and the United States. to 60 meters in a heel to toe fashion.
These anomalies were identified by a sampling program that covered only 20% of the total land package. Significant gold mineralization was intersected in two areas, in Moussala North on drill line furnace.
air core drilling is used to sample unconsolidated ground and compressed air is used to remove the cuttings from the hole. The company says it is planning further to the extent of the mineralization and depth of the mineralized zones.