Roxgold Extends QV1 Mineralization at Bagassi South Intersecting 13.7 gpt Au Over 7.2 Metres

Step out drilling to the south of the Bagassi Dyke indicates continuity of broad mineralization and continues to grow strike length at QV1 Extension.

TORONTO, Aug. 11, 2015 /CNW/ - Roxgold Inc. (ROG: TSX.V) ("Roxgold" or the "Company") is pleased to announce the latest results from its latest drilling from QV1 at the Bagassi South regional exploration target.

BAGASSI SOUTH DRILLING HIGHLIGHTS:

  • 13.7 gpt gold over 7.2 metres including 13.7 gpt over 1.5 metres and 40.3 over 1.5 meters in diamond drill hole YRM-15-DD-BGS-090.
  • 11.0 gpt gold over 7.5 metres including 33.7 gpt over 0.8 metres and 19.4 gpt over 1.7 metres in diamond drill hole YRM-15-DD-BGS-091
  • 14.5 gpt gold over 6.1 metres in diamond drill hole YRM-15-DD-BGS-095.

"Intersecting high grade mineralization south of the Bagassi Dyke confirms our geological model for QV1 and underlines the potential here," commented John Dorward, Roxgold's President and CEO. "Drilling has now added approximately 90 additional metres of strike length to the QV1 extension which is still open both up and down dip and along plunge."

Bagassi South Results:

The results announced today are from an 8 hole 1,900 metre diamond drill program that was designed to test for mineralization to the south of the Bagassi dyke as well as evaluate the up dip potential on the northern side of the dyke above diamond drill holes ("DDH") 083 and 085 which were released to the market on May, 05 2015.

  • DDH 088 was drilled to test for the mafic contact, south of the dyke and above the plunge of the QV1 target as an orientation hole.
  • Subsequently DDH 089, 090 and 091 were drilled along the plunge to test for plunge extension along the QV1 trend.  All three holes intersected mineralised structure with both DDH 089 and 090 returning broad high grade intercepts.
  • DDH 091 intersected the structure a further 50 metres to the south of holes 089 and 090.
  • DDH 094 tested for mineralization along the southern contact of the projected dyke contact but intersected the dyke and was terminated.
  • DDH 092, 093 tested up dip of holes 083 and 085 respectively and confirmed the continuity of the mineralized structure up dip.
  • DDH 095 was designed to infill along plunge between DDH 093 and 085 and confirms the continuity of the mineralization over the 50 metres strike length between the two adjacent holes. Mineralization encountered in 095 was in line with expectations.

More exploration drilling is planned south of the dyke to follow up on this program in Q3 and Q4 of 2015 to continue to test and define the extents of mineralization at QV1 which remains open down dip and plunge.

TABLE 1: Summary of Diamond Drilling Results at Bagassi South










Hole ID

Azi

Dip

Depth
From

Depth
To

EOH

value
(g/t)

over
(m)

Target










BAGASSI SOUTH

YRM-15-DD-BGS-088

210

-55

182.5

185.08

217

0.5

2.58

QV1 South

YRM-15-DD-BGS-089

210

-65

185.9

193.4

239

11.0

7.5

QV1 South

including



186.65

187.4


33.7

0.75


and



189.7

191.4


19.4

1.7


and



192.5

193.4


15.1

0.9


YRM-15-DD-BGS-090

210

-65

228.6

235.75

305

13.7

7.2

QV1 South

including



230.0

231.5


13.7

1.5


including



233.0

234.5


40.3

1.5


YRM-15-DD-BGS-091

207

-65

0.0

2.0

372

3.4

2.0

QV1 South

and



308.0

309.5


1.9

1.5


YRM-15-DD-BGS-092

210

-55

107.7

112.0

152

5.4

4.3

QV1 up dip

and



145.5

151.1


1.5

6.0


YRM-15-DD-BGS-093

210

-55

149.8

151.0

185

1.3

1.2

QV1 up dip

and



183.0

184.5


1.1

1.5


YRM-15-DD-BGS-094

218

-60




NSR


Dyke

YRM-15-DD-BGS-095

210

-55

157.8

163.85

221

14.5

6.05

QV1 Infill

and



171.6

172.6


2.5

1.0


and



200.5

202.0


2.7

1.5


and



209.5

212.5


1.8

3.0


* True Widths for QV1 intersections are estimated to be between 85 and 90% of reported core intervals.

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.

View Figure 1, Figure 2 and Figure 3.

Qualified Person

Ben Pullinger, P.Geo, Vice President of Exploration for Roxgold Inc., a Qualified Person within the meaning of National Instrument 43-101, has 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

Drill holes reported in this press release were drilled using NQ sized diamond drill bits. 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 (the "Lab") in Ouagadougou.  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 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 advancing Yaramoko's 55 Zone through construction and expects to commence production in the second quarter of 2016. Roxgold trades on the TSX Venture Exchange under the symbol ROG.

"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 inferred and indicated mineral resources and probable mineral reserves; (ii) the success of exploration activities; and (iii) the results of the Feasibility Study including statements about 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, 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 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, the completion of the environmental assessment process, 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, risks relating to variations in mineral resources and mineral reserves, grade or recovery rates resulting from current exploration and development activities, 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 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, 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 Short Form Prospectus dated October 24, 2014 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.

For further information: Ben Pullinger, Vice President, Exploration, 416-203-6401, bpullinger@roxgold.com

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