TORONTO,
Jan. 14, 2016 /CNW/ - Roxgold
Inc. ("Roxgold" or "the Company") (TSX.V: ROG) is pleased to
announce results from its latest drilling program from the QV1 and
QV Prime (QV') structures at the Bagassi South regional exploration
target 1.8 km south of the 55 Zone.
Highlights:
Drilling
- 52.3 grams per tonne ("gpt") gold over 6.1 metres ("m")
including 137.0 gpt gold over 0.8 m and 199.0 gpt gold over 1.0 m
in diamond drill hole ("DDH") YRM-15-RD-BGS-099
- 21.0 gpt gold over 6.7 m including 46.3 gpt gold over 0.7 m and
183.0 gpt gold over 0.6 m in DDH YRM-15-RD-BGS-104A
Metallurgical test work observations include:
- High rates of total gold extraction between 96% and 99%
(overall recovery)
- High rates of gravity recovery between 70% and 90%
- Excellent whole ore (no gravity) leach kinetics, with majority
of gold leached in 12 hours
- Moderate hardness of ore
- Low reagent consumption (cyanide and lime)
Bagassi South Drilling
Drilling at QV1 focused on extending the
mineralization encountered at this target in previous drilling (see
Roxgold Press Release dated May 05,
2015, May 19, 2015 and
Aug 11, 2015). Previous results
from this target include:
- 23.6 gpt gold over 10.9 m and 8.2 gpt gold over 6.0 m in DDH
YRM-15-DD-BGS-083
- 7.5 gpt gold over 10.6 m including 22.2 gpt gold over 3.2 m in
DDH YRM-15-DD-BGS-084
- 10.4 gpt gold over 19.4 m including 25.1 gpt gold over 7.1 m in
DDH YRM-15-DD-BGS-085
- 8.9 gpt gold over 9.4 m including 36.1 gpt over 1.2 m in DDH
YRM-15-DD-BGS-087
- 11.0 gpt gold over 7.5 m including 33.7 gpt over 0.8 m and 19.4
gpt over 1.7 m in DDH YRM-15-DD-BGS-089
- 13.7 gpt gold over 7.2 m including 13.7 gpt over 1.5 m and 40.3
gpt over 1.5 m in DDH YRM-15-DD-BGS-090
- 14.5 gpt gold over 6.1 m in DDH YRM-15-DD-BGS-095.
This program, accounting for approximately 3,000
m of Reverse Circulation ("RC") and Diamond
Drilling ("DD"), was successful in further extending the
high grade QV1 mineralization along strike and down plunge from
existing intercepts by approximately 100 metres in hole
YRM-15-RD-BGS-104A (see Figures 1, 2 & 3).
"We are pleased with the results from this
extension drilling program at QV1," stated John Dorward, President and CEO of Roxgold.
"We recommenced drilling this week with the goal of
delivering a maiden resource on the QV1 structure in the second
quarter."
TABLE 1: Summary of QV1 and QV Prime (QV')
Results from Current Diamond Drilling Program
|
|
|
|
|
|
|
|
Hole
ID
|
Azi
|
Dip
|
Depth
From
|
Depth
To
|
EOH
|
Value
(g/t)
|
Over
(m)
|
QV1
|
YRM-15-RD-BGS-096
|
205
|
-68
|
205.4
|
207.4
|
237.5
|
1.9
|
2.0
|
including
|
|
|
206.8
|
207.4
|
|
5.8
|
0.6
|
YRM-15-RD-BGS-098
|
212
|
-61
|
267.0
|
273.2
|
301.0
|
2.5
|
6.2
|
including
|
|
|
267.0
|
267.7
|
|
8.3
|
0.7
|
and
|
|
|
272.6
|
273.2
|
|
14.9
|
0.6
|
YRM-15-RD-BGS-099
|
214
|
-69
|
206.6
|
212.7
|
241.4
|
52.3
|
6.1
|
including
|
|
|
206.6
|
207.5
|
|
137.0
|
0.8
|
and
|
|
|
210.7
|
211.7
|
|
199.0
|
1.0
|
and
|
|
|
234.0
|
235.5
|
|
4.8
|
1.5
|
YRM-15-RD-BGS-102
|
211
|
-55
|
98.8
|
100.8
|
131.8
|
3.1
|
2.0
|
including
|
|
|
99.2
|
99.8
|
|
11.3
|
0.6
|
YRM-15-RD-BGS-104A
|
205
|
-61
|
320.2
|
326.9
|
339.8
|
21.0
|
6.7
|
including
|
|
|
321.0
|
321.7
|
|
46.3
|
0.7
|
including
|
|
|
326.3
|
326.9
|
|
183.0
|
0.6
|
YRM-15-RD-BGS-105
|
217
|
-54
|
225.5
|
227.5
|
261.5
|
3.8
|
2.0
|
and
|
|
|
242.6
|
243.5
|
|
5.5
|
1.0
|
|
|
|
|
|
|
|
|
QV'
|
YRM-15-RD-BGS-100A
|
219
|
-56
|
285.2
|
289.2
|
309.8
|
7.3
|
4.0
|
including
|
|
|
285.2
|
285.9
|
|
26.9
|
0.8
|
*True Widths for QV1 intersections are estimated to be
between 85 and 90% of reported core intervals.
Click here for a full list of today's results.
The QV1 target at Bagassi South is located 1.8
kilometres to the south of the 55 Zone where Roxgold continues
construction activities on the Yaramoko Gold Project.
No resources have yet been estimated for the QV1 target at this
time.
Bagassi South Drill Program Results
The results announced today are from an 11 hole
3,000 m Diamond and RC drill program that was designed to test for
mineralization to the south of the Bagassi dyke as well as evaluate
the up-dip potential and infill gaps in the drilling to the north
of the dyke. Holes were drilled with an RC pre-collar to
approximately 10 m above their intended target depth and were
subsequently competed with a diamond tail. Of this program,
approximately 640 m of Diamond and 1,730 m of RC were drilled at
QV1. At QV', 155 m of Diamond and 470 m of RC were completed.
All holes targeting the QV1 structure intersected
the structure where expected. Holes were targeted to explore the
south easterly plunging QV1 structure and enlarge the mineral
envelope; hole 104A is the most southern intersect to date where
the hole swung to the south intersecting high grade mineralization
100 m further south than previously encountered. The QV1 structure
remains open down plunge and along strike (see Figures 4 &
5).
At QV', 2 holes were drilled to test for the
continuity of the structure to the south east (see Figure 3). QV'
is located within the hanging wall of the QV1 structure. Both holes
intersected anomalous mineralization and structure consistent with
the intersection in YRM-14-DD-BGS-056 (39.6 gpt gold over 4.5 m
including 136.0 gpt gold over 1.3 m; see Roxgold Press Release
dated Sep 08, 2014) and this
structure remains open along strike and plunge to the south
east.
Follow up drilling at QV1 has commenced with the
aim of drilling out the mineralized envelope as currently defined
with sufficient drill spacing to enable the completion a resource
estimate.
Metallurgical Test Work Program
Results
A preliminary metallurgical test work program was
conducted on approximately 30kg of sample material from the QV1
target at Bagassi South. Sample material was selected from
drill core taken from previous drilling at QV1 and included 4
composite samples and 2 variability samples. These samples were
selected from intervals along the strike length of the QV1 area and
are representative of all mineralization types encountered at QV1
to date.
The metallurgical test work was completed in
Perth, Western Australia by Ammtec ALS laboratories
and at the program was designed to define the metallurgical
characteristics of the high grade material from Bagassi South.
Gravity response, leach kinetics, hardness, reagent consumption and
overall potential recovery rates were assessed.
The metallurgical test results are consistent
with the metallurgical response observed in ore from the Yaramoko
55 Zone deposit.
TABLE 2: Summary of QV1 Metallurgical Test
Work Results
Sample
ID
|
Test
ID
|
Au Head
Grade
|
Au Extraction
(%)
|
Reagent (kg/t)
|
(gpt
Au)
|
Gravity
Recovery
|
Total
Recovery
|
NaCN
|
Lime
|
QV1
|
Grav/
Leach
|
26.25
|
90.5
|
98.9
|
0.30
|
0.38
|
Leach Only
|
27.72
|
-
|
99.6
|
0.35
|
0.38
|
QV1
Ext
|
Grav /
Leach
|
11.42
|
85.7
|
99.7
|
0.28
|
0.30
|
Leach Only
|
18.13
|
-
|
99.6
|
0.30
|
0.26
|
QV South
Ext
|
Grav /
Leach
|
5.27
|
86.0
|
99.8
|
0.31
|
0.34
|
Leach Only
|
5.17
|
-
|
99.8
|
0.28
|
0.26
|
Master
Composite
|
Grav /
Leach
|
12.67
|
87.4
|
98.2
|
0.31
|
0.36
|
Leach Only
|
18.24
|
-
|
99.8
|
0.32
|
0.42
|
YRM–13KD–BGS–086
|
Grav /
Leach
|
6.61
|
78.0
|
96.2
|
0.35
|
0.38
|
YRM–15–DD–BGS–86
|
Grav /
Leach
|
3.16
|
72.1
|
98.7
|
0.31
|
0.28
|
Bond Ball Mill Work Index Tests, to assess the
ore hardness, were completed on the QV1 Composite and QV1 Ext
Composite, returning values of 17.4 kWh/t and 18.0 kWh/t,
respectively. These values are comparable with the ore
hardness results recorded at Yaramoko's 55 Zone.
Both the gravity-leach and whole ore leach
recovery rates were comparable, with high recoveries being
recognised whether inclusive of the gravity stage or not.
Paul Criddle,
Roxgold's Chief Operating Officer commented, "We are very
pleased with the preliminary metallurgical test results. This
initial stage program will provide the necessary foundation as we
progress towards defining a maiden resource at this newly
discovered mineralized area. The excellent recovery rates and
the consistency of the results across a broad grade range are
reminiscent of the results of the more extensive test work program
previously undertaken for the high grade 55 Zone, located less than
two kilometres to the north."
Qualified Persons
Ben Pullinger,
P.Geo, Vice President of Exploration for Roxgold Inc., and
Paul Criddle, FAUSIMM, Chief
Operating Officer for Roxgold Inc., are Qualified Persons within
the meaning of National Instrument 43-101, having verified and
approved the technical data disclosed this press release. This
includes the sampling, analytical and test data underlying the
information.
Quality Assurance/ Quality Control
The holes were RC pre-collars to approximately 10
metres above the target zone. From there, NQ2 diamond drill bits
were used for drill holes reported in this press release. Company
personnel are located at the drill site. Contractors and employees
of Roxgold conducted all logging and sampling. The core was logged,
marked up for sampling using standard lengths of two metres outside
of the "zone" and adjusted to lithological contacts up to one metre
within the "zone". Samples are then cut into equal halves using a
diamond saw. One half of the core was left in the original core box
and stored in a secure location at the Roxgold camp within the
Yaramoko area. The other half was sampled, catalogued and placed
into sealed bags and securely stored at the site until it was
shipped to Act Labs and SGS Laboratories (the "Labs") in
Ouagadougou. The core was dried
and crushed by the Labs and a 150 gram pulp was prepared from the
coarse crushed material. The Labs then conducted routine gold
analysis using a 50 gram charge and fire assay with an atomic
absorption finish. Samples returning over 5.0 gpt were also
analysed by gravimetric analysis. Quality control procedures
included the systematic insertion of blanks, duplicates and sample
standards into the sample stream. In addition, the Lab inserted its
own quality control samples.
About Roxgold
Roxgold is a gold exploration and development
company with its key asset, the high grade Yaramoko Gold Project,
located in the Houndé greenstone region of Burkina Faso, West
Africa. The Company is currently in construction and expects
to be producing gold by Q2, 2016. Roxgold trades on the TSX Venture
Exchange under the symbol ROG and as part of the Nasdaq
International Designation program with the symbol OTC: ROGFF.
"Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release."
This news release contains forward-looking information. Forward
looking information contained in this new release includes, but is
not limited to, statements with respect to: (i) the estimation of
measured, inferred and indicated mineral resources and probable
mineral reserves including, without limitation, statements with
respect to the potential establishment of new mineral resources and
the expansion potential of existing mineral resources/reserves;
(ii) the success of exploration and development activities; and
(iii) the technical report entitled "Technical Report for the
Yaramoko Gold Project, Burkina
Faso" dated June 4, 2014 (the
"Feasibility Study") including, without limitation, statements
about projected future production, and production timelines for the
55 Zone on the Yaramoko permit.
These statements are based on information currently available to
the Company and the Company provides no assurance that actual
results will meet management's expectations. In certain cases,
forward-looking information may be identified by such terms as
"anticipates", "believes", "could", "estimates", "expects", "may",
"shall", "will", or "would". Forward-looking information contained
in this news release is based on certain factors and assumptions
regarding, among other things, the estimation of mineral resources
and mineral reserves (and potential establishment and increases in
respect thereof), the realization of resource estimates and reserve
estimates, gold metal prices, the timing and amount of future
exploration and development expenditures, the estimation of initial
and sustaining capital requirements, the estimation of labour and
operating costs, the availability of necessary financing (and
satisfaction of all conditions precedent in connection with draw
downs under available credit facilities) and materials to continue
to explore and develop the Yaramoko project in the short and
long-term, the progress of exploration and development activities,
the receipt of necessary regulatory approvals, and assumptions with
respect to currency fluctuations, environmental risks, title
disputes or claims, and other similar matters. While the Company
considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking information. Such
factors include risks inherent in the exploration and development
of mineral deposits, including risks relating to changes in project
parameters as plans continue to be redefined including the
possibility that mining operations may not commence at the Yaramoko
project as currently scheduled or at all, risks relating to
variations in mineral resources and mineral reserves, grade or
recovery rates resulting from current exploration and development
activities (including risks that new mineral resources may not be
established, or the anticipated expansion potential of existing
mineral resources/reserves may not be realized), risks relating to
changes in gold prices and the worldwide demand for and supply of
gold, risks related to increased competition in the mining industry
generally, risks related to current global financial conditions,
uncertainties inherent in the estimation of mineral resources and
mineral reserves, access and supply risks, reliance on key
personnel, operational risks inherent in the conduct of mining
activities and the construction and proposed development of the
Yaramoko project into an operating mine, including the risk of
accidents, labour disputes, increases in capital and operating
costs and the risk of delays or increased costs that might be
encountered during the development process, regulatory risks,
including risks relating to the acquisition of the necessary
licenses and permits, financing (including the risk that conditions
precedent to draw downs under available credit facilities may not
be satisfied), capitalization and liquidity risks, including the
risk that the financing necessary to fund the exploration and
development activities at the Yaramoko project may not be available
on satisfactory terms, or at all, risks related to disputes
concerning property titles and interest, and environmental risks.
Please refer to the Company's Annual Information Form dated
April 10, 2015 filed on SEDAR at
www.sedar.com for political, environmental or other risks
that could materially affect the development of mineral resources
and mineral reserves. This list is not exhaustive of the factors
that may affect any of the Company's forward-looking information.
These and other factors should be considered carefully and readers
should not place undue reliance on the Company's forward-looking
information. The Company does not undertake to update any
forward-looking information that may be made from time to time by
the Company or on its behalf, except in accordance with applicable
securities laws.
SOURCE Roxgold Inc.