Roxgold Inc.
TSX VENTURE : ROG

Roxgold Inc.

October 04, 2011 12:46 ET

Roxgold Receives Additional High Grade Gold Intercepts from Yaramoko Concession, Burkina Faso, West Africa

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2011) - Roxgold Inc. (TSX VENTURE:ROG) -

HIGHLIGHTS

  • 53.56 gpt Au over 8 meters (including 178.3 gpt Au over 2 meters) from YRM-11-DDH-021
  • 47.41 gpt Au over 8.5 meters (including 156.9 gpt Au over 2 meters) from YRM-11-DDH-018
  • 37.68 gpt Au over 16 meters (including 73.8 gpt Au over 7 meters) from YRM-11-DDH-024
  • 100.58 gpt Au over 4 meters (including 177.0 gpt Au over 2 meters) from YRM-11-DDH-023

Roxgold Inc. (the "Company" or "Roxgold") is pleased to announce that it has received assays from selected intervals from an additional 12 core holes from its Yaramoko Concession located in western Burkina Faso, eight of which are from Zone 55, in an area known as Bagassi Central.

"The gold intercepts at Yaramoko continue to exceed our expectations," says Roxgold President and CEO, Robert Sibthorpe. "The results extend the mineralized strike length of Zone 55 a further one hundred meters to the east, indicating the presence of a high grade shoot in this area."

The results of the eight core holes from Zone 55 are as follows (and can be found on the www.roxgold.com website):

DDH-017 reported 5.52 gpt Au over 3 meters

DDH-018 reported 47.41 gpt Au over 8.5 meters (including 156.9 gpt Au over 2 meters)

DDH-019 reported 3.79 gpt Au over 2 meters and 2.0 gpt gold over 4 meters

DDH-020 reported 2.10 gpt Au over 12 meters

DDH-021 reported 53.56 gpt Au over 8 meters (including 178.3 gpt Au over 2 meters)

DDH-023 reported 100.58 gpt Au over 4 meters (including 177.0 gpt Au over 2 meters)

DDH-024 reported 37.68 gpt Au over 16 meters (including 73.80 gpt Au over 7 meters and 29.91 gpt Au over 2 meters)

DDH-025 did not return any significant results from the three one meter intervals sampled

Drill Holes 017, 018 and 021 through 024 are located in the eastern area of Zone 55 and together with previously reported high grade intervals including 62.74 gpt Au over 16 meters in DDH-022 indicates the presence of a high grade "shoot" in this area.

Drill holes 019 and 020 are located on Zone 55's final western section and indicate that mineralization is open in this direction although grades are lower.

This summer's drill program tested Zone 55 along a strike length of 400 meters and to vertical depths of approximately 100 meters with 30 core holes and two RC holes.

Assays have now been reported for 21 of the 30 holes and assays are pending for the remaining nine holes which tested the final few sections of Zone 55 to the east.

The complete tables with drill hole specifications are as follows (and can be found on the www.roxgold.com website):

Total
Depth
Drill Hole EAST_X NORTH_Y AZIMU DIP (m)
YRM-11-DD-024 469481 1299180 180 -60 98.04
including
including
YRM-11-DD-022* 469456 1299182 180 -60 98.06
YRM-11-DD-023 469453 1299197 180 -60 148.88
including
YRM-11-DD-021 469427 1299172 180 -60 98.51
including
YRM-10-RC-36* 469435 1299188 220 -55 90
YRM-11-DD-017 469403 1299178 180 -45 101.20
YRM-11-DD-018 469403 1299178 180 -60 143.42
including
YRM-11-DD-008* 469377 1299178 180 -45 116.60
YRM-11-DD-009* 469377 1299178 180 -60 117.42
including
YRM-11-RC-55* 469358 1299163 180 -55 49.00
and
YRM-11-DD-005* 469354 1299177 180 -45 100.44
and
YRM-11-DD-006* 469354 1299177 180 -60
including
YRM-11-DD-007* 469356 1299087 360 -60
including
YRM-11-DD-011* 469334 1299176 180 -45 91.90
YRM-11-DD-012* 469334 1299176 180 -60 119.38
including
and
and
YRM-11-DD-013* 469305 1299175 180 -45 119.23
YRM-11-DD-015* 469282 1299172 180 -45 99.24
YRM-11-DD-016* 469282 1299172 180 -60 162.00
YRM-11-DD-019 469257 1299164 180 -45 101.54
and
YRM-11-DD-020 469257 1299164 180 -60 173.12
Est.
Assay True
From To Interval Width Au
Drill Hole (m) (m) (m) (m) gpt VG
YRM-11-DD-024 43.0 59.0 16.00 9.60 37.68 X
43.0 50.0 7.00 4.20 73.80 X
54.0 56.0 2.00 1.20 29.91 X
YRM-11-DD-022* 45.00 61.00 16.00 9.60 62.74 X
46.00 49.00 3.00 1.80 226.89 X
YRM-11-DD-023 117.0 121.0 4.00 2.40 100.58 X
119.0 121.0 2.00 1.20 177.00 X
YRM-11-DD-021 31.0 39.0 8.00 4.80 53.56
32.0 34.0 2.00 1.20 178.30
YRM-10-RC-36* 80.0 86.0 6.00 3.90 24.62
YRM-11-DD-017 38.0 41.0 3.00 1.80 5.52
YRM-11-DD-018 72.33 80.81 8.48 5.40 47.41 X
76.0 78.0 2.00 1.20 156.90 X
YRM-11-DD-008* 48.00 51.00 3.00 2.25 17.28 X
YRM-11-DD-009* 68.00 80.00 12.00 7.20 17.16 X
74.00 80.00 6.00 3.60 32.34 X
YRM-11-RC-55* 6.0 26.0 20.00 13.00 28.61 X
40.0 49.0 9.00 5.85 5.48 X
YRM-11-DD-005* 35.50 37.50 2.00 1.50 1.99 X
48.00 50.00 2.00 1.50 39.03 X
YRM-11-DD-006* 73.00 82.00 9.00 5.40 14.10 X
79.00 81.00 2.00 1.20 42.58
YRM-11-DD-007* 89.00 99.00 10.00 6.00 6.17 X
89.00 91.00 2.00 1.20 18.12 X
YRM-11-DD-011* 50.00 53.00 3.00 2.25 2.42
YRM-11-DD-012* 43.00 47.00 4.00 2.40 11.56 X
45.00 47.00 2.00 1.20 22.32
78.00 83.00 5.00 3.00 1.36
87.00 99.00 12.00 7.20 5.22
YRM-11-DD-013* 66.00 67.00 4.00 3.00 0.66
YRM-11-DD-015* 54.00 58.00 4.00 3.00 5.50
YRM-11-DD-016* 101.00 113.00 12.00 7.20 5.43
YRM-11-DD-019 44.0 46.0 2.00 1.50 3.79
49.0 53.0 4.00 3.00 2.01
YRM-11-DD-020 108.0 120.0 12.00 7.20 2.10
Drill holes YRM-11-DD010, 014, and 025 did not report significant results from selected assays
* = Previously reported
Table includes all holes assayed to date on Zone 55
Assay results for core holes (DD) are partial. Sections with indications of possible gold mineralization were shipped to Canada on a rush basis
The remainder of each hole was sampled at 2 meter intervals and assays are pending for all these samples.
True Widths are estimated to be between 60% and 75% of reported widths and assayed intervals shown overstate actual width.

Zone 35

Zone 35, located 200 meters west of Zone 55, was tested with 10 core holes. Assays are pending.

Bagassi South Update

During the summer drill campaign four core holes were drilled on the "Bagassi South" zone approximately 2.5 kilometers to the southeast of Zone 55 and Zone 35.

Results from selected sampling are as follows:

DDH-001 did not report any significant results from 15 one meter samples

DDH-002 did not report any significant results from 4 one meter samples

DDH-003 reported 35.57 gpt Au from the single one meter sample taken from 99-100 meters

DDH-004 reported 11.25 gpt Au over 2 meters from the 2 meter interval sampled at 44 to 46 meters

The Bagassi South Zone has reported numerous significant intercepts from several drill campaigns but continuity has been difficult to establish and controls on gold mineralization are not well understood at present. The area warrants further drilling although Zones 55 and 35 currently have priority.

TJ Ridge Property Shares Cancelled

The Company has cancelled 750,000 shares that were in escrow as a condition of its option agreement on the property. The shares have been returned to treasury.

QUALITY ASSURANCE/QUALITY CONTROL

Roxgold Inc. was the operator of this drill program and maintains a quality control program involving the use of repeat assays, inserted blanks and the use of certified standards from an accredited Canadian laboratory. In order to avoid delays associated with assaying facilities in Burkina Faso, all Yaramoko assays reported in this press release were assayed at TSL Laboratories in Saskatoon, Saskatchewan using metallic screening techniques with duplicate assays performed on every fortieth sample. These samples were selected based on the presence of visual gold and/or increased silicification and sampled at one meter intervals. The remainder of each drill hole has been sampled on two meter intervals with samples grading over one gram gold per tonne to be re-assayed with a gravimetric finish, at the independent Abilab Burkina SARL laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex group.

Claude Aussant, P. Geol, of Taiga Consultants Ltd., Calgary Alberta is a qualified person for Roxgold and has reviewed and approved the contents of this release.

ROXGOLD INC.

Robert Sibthorpe, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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