TORONTO, Aug. 31, 2016 /CNW/ - Roxgold Inc. ("Roxgold" or
"the Company") (TSX.V: ROG) is pleased to announce results from its
definition drilling program at Zone 55.
Highlights:
- 44.4 grams per tonne ("gpt") gold over 6.3 metres ("m") (4.9 m
true width ("TW")) including 362.0 gpt gold over 0.7 m (0.5 m TW)
in diamond drill hole YRM-16-DD-412
- 39.2 gpt gold over 6.2 m (5.5 m TW) including 247.0 gpt gold
over 0.9 m (0.8 m TW) in diamond drill hole YRM-16-DD-394
- 76.6 gpt gold over 2.8 m (2.4 m TW) including 134.8 gpt gold
over 1.6 m (1.4 m TW) in diamond drill hole YRM-16-DD-416
- 33.9 gpt gold over 5.7 m (4.1 m TW) including 91.0 gpt gold
over 1.7 m (1.3 m TW) in diamond drill hole YRM-16-DD-418
- 23.5 gpt gold over 5.1 m (4.0 m TW) including 143.0 gpt gold
over 0.7 m (0.5 m TW) in diamond drill hole YRM-16-DD-411
"We are pleased that the drill results from the definition
program at Zone 55 continue to affirm our belief in the quality and
continuity of the deposit," stated John
Dorward, President and CEO of Roxgold. "Strong results
within the primary Central Zone have led us to increase our
exploration budget for the remainder of 2016 in order to further
test the extension of the 55 Zone at depth."
Zone 55 Drilling
Drill results reported today account for approximately 10,800
metres of drilling from a total of 46 diamond drill holes. This
drilling program at Zone 55 targeted areas within the current mine
envelope with the goal of better defining the continuity of the
Zone 55 structure. Results from this program confirm the robustness
of the central zone of the deposit, particularly holes
YRM-16-DD-383, YRM-16-DD-385, YRM-16-DD-411 and YRM-16-DD-412 where
high grades over broad widths have been intersected. Several of
these holes targeted areas of limited drilling in the central
portion of the 55 Zone and the Company is encouraged by these
results.
A number of drill holes targeted the outer western flank of the
55 Zone where mineralization is typically hosted in the mafic
volcanic unit and narrower granitic intrusions. The intention of
this part of the program was to potentially extend resources and
reserves beyond the current periphery of the western zone, however,
the majority of results in this specific area were generally low
grade over varying widths.
Hole YRM-16-DD-421 targeted an area approximately 250 metres to
the west of the main 55 Zone easterly plunging orebody at a
vertical depth of 760 metres below surface. While no significant
assays were returned, this hole did intersect a 3.3 metre wide
shear zone containing quartz and pyrite. The Company is encouraged
by the presence of favourable geology this far to the west at depth
and is planning follow up work in the coming months.
All holes drilled into Zone 55 have intersected the shear
structure and will be incorporated in an updated resource model to
be released in the first quarter of 2017.
For a longitudinal section showing results from this release
please refer to the following link (FIGURE 1).
TABLE 1: Summary of 55 Zone Results from Expansion and
Advanced Definition Program
Hole
ID
|
Azi
|
Dip
|
Depth
From
|
Depth
To
|
EOH
|
Grade
(g/t)
|
Over
(m)
|
True
Width (m)
|
Zone
55
|
YRM-16-DD-376
|
0
|
-54
|
223.6
|
240.5
|
245.4
|
4.2
|
16.9
|
12.9
|
Including
|
|
|
226.9
|
231.2
|
|
12.1
|
4.3
|
3.3
|
Including
|
|
|
233.7
|
237.5
|
|
2.1
|
3.8
|
2.9
|
YRM-16-DD-377
|
0
|
-55
|
112.5
|
121.5
|
190.5
|
1.2
|
9.0
|
7.8
|
Including
|
|
|
114.3
|
116.2
|
|
2.2
|
1.9
|
1.6
|
YRM-16-DD-378
|
1
|
-55
|
103.4
|
103.7
|
115.7
|
NSR
|
0.3
|
0.2
|
YRM-16-DD-379
|
1
|
-55
|
264.5
|
268.6
|
281.0
|
1.5
|
4.1
|
3.1
|
Including
|
|
|
266.4
|
267.0
|
|
4.4
|
0.6
|
0.5
|
YRM-16-DD-380
|
1
|
-53
|
187.6
|
192.0
|
199.0
|
6.5
|
4.4
|
2.9
|
Including
|
|
|
188.2
|
190.0
|
|
16.5
|
1.8
|
1.6
|
YRM-16-DD-381
|
358
|
-56
|
189.6
|
193.0
|
205.8
|
12.4
|
3.4
|
2.1
|
Including
|
|
|
189.6
|
190.1
|
|
77.0
|
0.5
|
0.3
|
YRM-16-DD-382
|
356
|
-55
|
314.1
|
314.5
|
325.2
|
7.8
|
0.4
|
0.3
|
YRM-16-DD-383
|
1
|
-62
|
224.5
|
231.6
|
251.5
|
12.9
|
7.2
|
5.4
|
YRM-16-DD-384
|
5
|
-53
|
156.9
|
160.6
|
172.7
|
6.1
|
3.7
|
2.9
|
Including
|
|
|
156.9
|
157.7
|
|
17.9
|
0.8
|
0.6
|
YRM-16-DD-385
|
359
|
-55
|
278.2
|
285.0
|
302.4
|
8.9
|
6.9
|
5.2
|
Including
|
|
|
279.7
|
284.4
|
|
11.5
|
4.7
|
3.6
|
And
|
|
|
289.0
|
292.5
|
|
22.6
|
3.5
|
2.7
|
Including
|
|
|
290.8
|
292.5
|
|
43.2
|
1.7
|
1.3
|
YRM-16-DD-386
|
0
|
-55
|
194.3
|
199.4
|
211.9
|
3.9
|
5.1
|
4.3
|
Including
|
|
|
197.6
|
199.4
|
|
10.7
|
1.8
|
1.5
|
YRM-16-DD-387
|
0
|
-60
|
205.7
|
210.0
|
227.5
|
1.0
|
4.3
|
2.8
|
YRM-16-DD-388
|
357
|
-54
|
319.0
|
330.0
|
336.4
|
2.2
|
11.0
|
8.4
|
Including
|
|
|
326.7
|
329.2
|
|
4.1
|
2.4
|
1.9
|
YRM-16-DD-389
|
0
|
-55
|
92.1
|
94.5
|
145.2
|
0.7
|
2.4
|
1.8
|
and
|
|
|
120.2
|
124.1
|
|
1.1
|
3.9
|
3.2
|
YRM-16-DD-390
|
352
|
-61
|
34.7
|
36.4
|
58.9
|
NSR
|
1.7
|
1.0
|
YRM-16-DD-391
|
1
|
-55
|
124.0
|
125.0
|
182.0
|
1.9
|
0.9
|
0.7
|
YRM-16-DD-392
|
0
|
-55
|
45.4
|
51.0
|
106.6
|
NSR
|
5.6
|
3.8
|
YRM-16-DD-393
|
0
|
-55
|
68.2
|
78.5
|
94.7
|
1.4
|
10.3
|
7.9
|
Including
|
|
|
69.4
|
75.0
|
|
2.6
|
5.5
|
4.3
|
YRM-16-DD-394
|
357
|
-47
|
154.4
|
160.7
|
258.0
|
39.2
|
6.2
|
5.5
|
Including
|
|
|
155.6
|
156.5
|
|
247.0
|
0.9
|
0.8
|
YRM-16-DD-395
|
358
|
-55
|
57.1
|
62.7
|
79.9
|
0.2
|
5.6
|
4.2
|
YRM-16-DD-396
|
0
|
-57
|
147.7
|
154.0
|
172.7
|
2.9
|
6.3
|
5.4
|
Including
|
|
|
148.1
|
151.2
|
|
5.4
|
3.1
|
2.6
|
YRM-16-DD-397
|
3
|
-65
|
161.6
|
165.7
|
181.8
|
1.5
|
4.1
|
3.1
|
YRM-16-DD-398
|
3
|
-58
|
174.7
|
177.7
|
185.0
|
4.5
|
3.0
|
2.5
|
YRM-16-DD-399
|
9
|
-58
|
143.0
|
147.5
|
160.7
|
3.7
|
4.6
|
3.6
|
YRM-16-DD-400
|
0
|
-63
|
142.4
|
146.0
|
157.7
|
2.5
|
3.6
|
2.6
|
YRM-16-DD-401
|
2
|
-56
|
202.2
|
204.2
|
215.0
|
1.6
|
2.0
|
1.8
|
YRM-16-DD-402
|
359
|
-55
|
326.9
|
332.5
|
352.6
|
7.0
|
5.6
|
4.4
|
Including
|
|
|
329.7
|
332.5
|
|
12.1
|
2.8
|
2.2
|
YRM-16-DD-403
|
3
|
-55
|
231.6
|
233.3
|
265.8
|
0.4
|
1.7
|
1.3
|
YRM-16-DD-404
|
4
|
-52
|
247.8
|
255.3
|
259.7
|
1.7
|
7.5
|
5.4
|
YRM-16-DD-405
|
0
|
-53
|
179.9
|
185.0
|
201.5
|
0.9
|
5.1
|
3.9
|
YRM-16-DD-406
|
0
|
-52
|
292.3
|
293.9
|
304.9
|
6.8
|
1.6
|
1.2
|
YRM-16-DD-407
|
0
|
-55
|
83.3
|
100.7
|
113.2
|
2.0
|
17.4
|
14.1
|
Including
|
|
|
89.5
|
94.0
|
|
4.3
|
4.5
|
3.7
|
YRM-16-DD-408
|
357
|
-55
|
212.2
|
215.8
|
224.2
|
2.9
|
3.6
|
3.2
|
Including
|
|
|
212.9
|
213.5
|
|
9.6
|
0.7
|
0.6
|
YRM-16-DD-409
|
1
|
-55
|
238.3
|
240.1
|
250.7
|
7.1
|
1.8
|
1.4
|
Including
|
|
|
238.8
|
239.5
|
|
17.4
|
0.7
|
0.5
|
YRM-16-DD-410
|
358
|
-59
|
274.8
|
276.4
|
284.0
|
NSR
|
1.5
|
1.1
|
YRM-16-DD-411
|
357
|
-59
|
290.9
|
296.0
|
307.5
|
23.5
|
5.1
|
4.0
|
Including
|
|
|
290.9
|
291.6
|
|
143.0
|
0.7
|
0.5
|
YRM-16-DD-412
|
2
|
-59
|
209.1
|
215.4
|
226.5
|
44.4
|
6.3
|
4.9
|
Including
|
|
|
214.7
|
215.4
|
|
362.0
|
0.7
|
0.5
|
YRM-16-DD-413
|
2
|
-59
|
259.7
|
265.3
|
275.5
|
1.2
|
5.6
|
4.3
|
YRM-16-DD-414
|
358
|
-59
|
353.7
|
356.9
|
365.1
|
3.4
|
3.1
|
2.4
|
YRM-16-DD-415
|
2
|
-50
|
198.0
|
199.3
|
210.5
|
59.9
|
1.2
|
1.1
|
Including
|
|
|
198.0
|
198.5
|
|
161.0
|
0.4
|
0.4
|
YRM-16-DD-416
|
358
|
-54
|
271.1
|
273.9
|
297.5
|
76.6
|
2.8
|
2.4
|
Including
|
|
|
271.7
|
273.3
|
|
134.8
|
1.6
|
1.4
|
YRM-16-DD-417
|
1
|
-60
|
193.0
|
201.2
|
213.3
|
2.0
|
8.2
|
4.8
|
Including
|
|
|
194.2
|
196.8
|
|
3.4
|
2.6
|
1.5
|
YRM-16-DD-418
|
357
|
-62
|
223.5
|
229.3
|
255.7
|
33.9
|
5.7
|
4.1
|
Including
|
|
|
224.9
|
226.7
|
|
91.0
|
1.7
|
1.3
|
YRM-16-DD-419
|
0
|
-57
|
306.5
|
317.8
|
332.8
|
1.8
|
11.3
|
9.4
|
YRM-16-DD-420
|
5
|
-62
|
137.4
|
140.8
|
153.0
|
79.7
|
3.4
|
2.0
|
Including
|
|
|
138.0
|
140.0
|
|
109.0
|
2.0
|
1.2
|
YRM-16-DD-421
|
353
|
-60
|
868.4
|
871.7
|
884.2
|
NSR
|
3.2
|
1.7
|
*results are reported uncapped.
Upcoming Exploration
At Zone 55, a drilling program is scheduled to begin in
mid-September with two drill rigs further testing the extension of
Zone 55 at depth with approximately 15,000 meters of drilling
planned.
A second drilling program will also be undertaken at Bagassi
South to expand on the resource at the QV' target with
approximately 4,000 metres of drilling planned.
In addition to the near-mine drilling program, regional
exploration at Yaramoko will also start again in September once the
rainy season has subsided. A soil geochemistry program has been
planned in the southern portion of the concession over a
prospective granitic intrusion along the Yaramoko shear. The
targeted area is approximately 6 km2 and the sampling
will be conducted along 100 m spaced lines.
USD$2.5 million has been budgeted
for the remainder of the 2016 exploration program.
Qualified Persons
Yan Bourassa, P.Geo, Vice
President of Geology for Roxgold Inc., is a Qualified Person within
the meaning of National Instrument 43-101, having verified and
approved the technical data disclosed in this press release. This
includes the sampling, analytical and test data underlying the
information.
Quality Assurance/ Quality Control
The holes were drilled with NQ2 sized diamond drill bits for
drill holes reported in this press release. Company personnel are
located at the drill site. 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 Activation
Laboratories located in Ouagadougou (the "Lab"). The core was dried
and crushed by the Lab and a 150 gram pulp was prepared from the
coarse crushed material. The Lab 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 mining company with its key asset, the high
grade Yaramoko Gold Mine, located in the Houndé greenstone region
of Burkina Faso, West Africa. The Company expects to reach
commercial production in Q3 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; and (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"). 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, 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, 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 including the risk of
accidents, labour disputes, increases in capital and operating
costs and the risk of delays or regulatory risks, including risks
relating to the acquisition of the necessary licenses and permits,
capitalization and liquidity risks, 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.