PRECIOUS METALS

Roscan rises on wide, high-grade results

Reports 62m at 4.84g/t gold at Mankouke South

Staff reporter
 Core from Roscan Gold’s Mankouke South target in Mali

Core from Roscan Gold’s Mankouke South target in Mali

The intercept also included 7m at 12.7g/t; while another highlight was 46m at 4.76g/t gold from 50.2m.

Ongoing drilling results have now extended the depth of the target from 80m in February to 155m.

"Based on the current dataset, it appears there is a northern plunge which is similar to other major deposits in the surrounding area," president and CEO Nana Sangmuah said.

Mankouke South is about 25km east of B2Gold's Fekola mine in western Mali.

Roscan said this mineralised system was structurally aligned with Mankouke South mineralisation, which occurred in the structural corridor that also hosted Iamgold's Siribaya deposits to the south, Roscan's Mankouke Central prospect and Oklo Resources to the north.

The company, which changed name from Roscan Minerals in 2018, said exploration had not been impacted by COVID-19 to date.

It appointed former AngloGold Ashanti president Sir Samuel Jonah as non-executive chairman in January.

Roscan was one of the four finalists at Mining Indaba's Investment Battlefield in February.

It said last month it was set to receive C$2.6 million from the exercise of warrants at 12c per share, and planned to use the proceeds for exploration in west Mali.

Roscan shares have spent much of the past year below the 20c mark and hit a multi-year high intraday of 38c.

They closed up 40.4% to close at 36.5c, capitalising it about $70 million (US$50 million).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.