RosCan Minerals Corporation
TSX VENTURE : ROS

August 17, 2011 16:35 ET

Roscan Drilling Confirms 1.3 Ounces Gold Per Ton Over 20 Feet at Golden Mile

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2011) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Roscan Minerals Corporation ("Roscan") (TSX VENTURE:ROS) is pleased to announce diamond drill results from the phase I drill program at the Golden Mile property in Mineral County, Nevada. The drill program consisted of a total of 3,146 feet (958.9 meters) drilled by Roscan in five diamond core (HQ size) holes on the Golden Mile Property. Four of the holes were drilled as twin holes to reverse circulation rotary (RC) holes drilled by previous explorers to compare assay results and to determine controls on gold mineralization. One hole, GMC004, was drilled to test a mapped north-northwest trending shear zone.

Drilling intersected up to 20.0 feet averaging 1.353 oz/ton (6.1 meters averaging 46.403 g/tonne) in hole GMC002, which twinned a previous reverse circular hole that intersected 30.0 feet averaging 1.37 oz/ton (9.1 meters averaging 46.97 g/tonne). High-grade gold mineralization is concentrated in iron oxide veinlet zones that represent weathered pyrite veinlet zones that trend north-northwest within calcareous sandstone and quartz diorite.

Significant drill intercepts are listed in the table below.

Table 1. Significant 2011 Drill Intercepts
HOLE FROM
(ft)
TO
(ft)
LENGTH
(ft)
FROM
(m)
TO
(m)
LENGTH
(m)
Au
(oz/ton)
Au
(g/tonne)
GMC001 215.0 220.0 5.0 65.53 67.06 1.52 0.042 1.429
GMC001 325.0 330.0 5.0 99.06 100.59 1.52 0.072 2.479
GMC001 350.0 355.0 5.0 106.68 108.21 1.52 0.057 1.959
GMC001 380.0 395.0 15.0 115.83 120.40 4.57 0.018 0.628
GMC001 635.0 650.0 15.0 193.55 198.12 4.57 0.041 1.402
GMC001 675.0 680.0 5.0 205.74 207.27 1.52 0.054 1.864
GMC002 60.0 80.0 20.0 18.29 24.38 6.10 1.353 46.403
GMC002 130.0 135.0 5.0 39.62 41.15 1.52 0.035 1.189
GMC002 150.0 155.0 5.0 45.72 47.24 1.52 0.066 2.264
GMC002 245.0 255.0 10.0 74.68 77.72 3.05 0.062 2.115
GMC002 285.0 360.0 75.0 86.87 109.73 22.86 0.022 0.740
GMC003 140.0 150.0 10.0 42.67 45.72 3.05 0.036 1.234
GMC003 180.0 195.0 15.0 54.86 59.44 4.57 0.410 14.060
GMC003 250.0 260.0 10.0 76.20 79.25 3.05 0.105 3.609
GMC003 445.0 455.0 10.0 135.64 138.69 3.05 0.053 1.805
GMC004 275.0 285.0 10.0 83.82 86.87 3.05 0.024 0.821
GMC004 415.0 425.0 10.0 126.49 129.54 3.05 0.078 2.689
GMC005 80.0 90.0 10.0 24.38 27.43 3.05 0.212 7.265

The drill program was designed to determine which structures host the gold in the Golden Mile Property, along with the distribution and trend of the mineralization in properties for delineating a reserve. Based upon logging of the core, anomalous to ore-grade mineralization is associated with calcite-pyrite ± quartz veinlets and semi-massive pyritic zones in calcareous sandstone and quartz diorite. The calcite-pyrite ± quartz veinlets are generally less than 2 cm thick and the pyritic zones are generally 2 to 10 cm thick. The most common orientation of both the veinlets and pyritic zones are 25° to Core Axis, suggesting a northwest orientation to gold mineralization.

Roscan management is assessing the drill results to determine the next phase of exploration.

Drilling was completed by Timberline Drilling with an AH-5 skid-mounted core rig. Core recovery was greater than 90%. Rock quality designation measurements and core photography was completed by John Lukens and Allen Crist. Core was logged and sample intervals were marked on-site by John Lukens. When logging was completed, the core was taped closed and palletized for pick up by American Assay Laboratories (AAL) of Sparks, NV, a reputable laboratory under the Mineral Exploration Best Practices Guidelines. After the core was transported, it was cut with a diamond bladed saw by AAL personnel. The core then was dried, crushed to -10 mesh, split to 250 g and the split was pulverized to -150 mesh. A 30 g charge was analyzed by Fire Assay with an ICP (1ppb detection limit). Samples containing over 3 ppm (3 g/tonne) were re-analyzed by Fire Assay with a gravimetric finish. Multi-element ICP analysis for major and trace elements was completed on all samples submitted.

John Lukens, CPG #11413, a qualified person under National Instrument 43-101, has prepared or supervised the scientific or technical information for the Golden Mile Property and verified the data disclosed in this press release.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements. Such forward-looking statements include comments regarding acquisitions, mineral resource statements and exploration program performance.

Shares Outstanding: 26,899,575

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Contact Information

  • Roscan Minerals Corporation
    Don Whalen
    Director
    (416) 293-8437
    (416) 293-3957 (FAX)

    Roscan Minerals Corporation
    Mark McMurdie
    CFO
    (416) 293-8437
    (416) 293-3957 (FAX)
    info@roscan.ca