Toronto-based Roscan Gold Corporation (TSX-Venture:ROS) was enthused about what it was drawing out of the ground Thursday, heralding positive assay results from its initial Air Core drilling program at its Kandiole Project in Mali, West Africa.
This drilling program wrapped up in December and was designed to test strong termite and soil gold anomalies. ROS says significant amounts of saprolite-hosted gold mineralization were discovered in each of the two areas that were tested with the best results returned from the Mankouke area.
One hole featured 5.94 g/t gold over 14 metres (including 26.7 g/t gold over two metres), another unearthed 8.68 g/t gold over 14 metres (including 41.5 g/t gold over two metres), and still another revealed 8.47 g/t gold over 18 metres (including 29.0 g/t gold over four metres).
CEO Greg Isenor announced “this is an excellent new discovery with very good gold grades. We are extremely pleased that our approach to exploration in this area has again been successful. Additional drilling is part of an obvious next step.”
Investors evidently agreed; shares in ROS acquired a penny, or 16.7%, to seven cents by Thursday noon ET, on volume of 663,000 shares.
