Roxgold intersects 56.0 gpt au over 7.8 metres from the QV1 target at the Bagassi South Prospect, 1.8 kilometres to the south of the 55 Zone

TORONTO, March 15, 2016 /CNW/ - Roxgold Inc. ("Roxgold" or "the Company") (TSX.V: ROG)  is pleased to announce results from its latest drilling program from the QV1 structure at the Bagassi South regional exploration target 1.8 km south of the 55 Zone.

Highlights:

Drilling

  • 56.0 grams per tonne ("gpt") gold over 7.8 metres ("m") including 127.0 gpt gold over 3.3 m in diamond drill hole ("DDH") YRM-16-DD-BGS-109
  • 8.6 gpt gold over 17.9 m including 70.1 gpt gold over 1.6 m in DDH YRM-16-DD-BGS-113
  • 11.8 gpt gold over 8.8 m including 70.6 gpt gold over 1.4 m in DDH YRM-16-DD-BGS-107

Bagassi South Drilling

Recent drilling at QV1 focused on extending the mineralization encountered at this target in previous drilling (see previous Roxgold Press Releases dated January 14, 2016, May 05, 2015, May 19, 2015 and Aug 11, 2015).  Previous results from this target include:

  • 52.3 grams per tonne ("gpt") gold over 6.1 metres ("m") including 137.0 gpt gold over 0.8 m and 199.0 gpt gold over 1.0 m in diamond drill hole ("DDH") YRM-15-RD-BGS-099
  • 21.0 gpt gold over 6.7 m including 46.3 gpt gold over 0.7 m and 183.0 gpt gold over 0.6 m in DDH YRM-15-RD-BGS-104A
  • 23.6 gpt gold over 10.9 m and 8.2 gpt gold over 6.0 m in DDH YRM-15-DD-BGS-083
  • 7.5 gpt gold over 10.6 m including 22.2 gpt gold over 3.2 m in DDH YRM-15-DD-BGS-084
  • 10.4 gpt gold over 19.4 m including 25.1 gpt gold over 7.1 m in DDH YRM-15-DD-BGS-085
  • 8.9 gpt gold over 9.4 m including 36.1 gpt over 1.2 m in DDH YRM-15-DD-BGS-087
  • 11.0 gpt gold over 7.5 m including 33.7 gpt over 0.8 m and 19.4 gpt over 1.7 m in DDH YRM-15-DD-BGS-089
  • 13.7 gpt gold over 7.2 m including 13.7 gpt over 1.5 m and 40.3 gpt over 1.5 m in DDH YRM-15-DD-BGS-090
  • 14.5 gpt gold over 6.1 m in DDH YRM-15-DD-BGS-095.

This program, accounting for approximately 2,360 m of Diamond Drilling ("DD"), was successful in further defining the high grade QV1 mineralization within the already defined envelope and provides the basis for a maiden resource estimation. The QV1 structure remains open down plunge where DDH YRM-15-RD-104A intersected 21.0 gpt gold over 6.7 metres.

"Results from this program further confirm the potential at QV1," stated John Dorward, President and CEO of Roxgold.  "With these results rounding out our initial definition of the QV1 target, we are looking forward to completing a maiden resource estimate on this target in Q2 of this year."

TABLE 1: Summary of QV1 Results from Current Diamond Drilling Program

Hole ID

Azi

Dip

Depth

From

Depth

To

EOH

Value

(g/t)

Over

(m)

QV1

YRM-15-DD-BGS-107

199

-63

280.4

289.2

307

11.8

8.8

Including



281.9

283.3


70.6

1.4

and



295.7

296.4


13.6

0.7

YRM-15-DD-BGS-108

200

-62

308.4

313.6

321.5

NSR


YRM-15-DD-BGS-109

206

-61

246.8

254.5

275.5

56.0

7.8

Including



247.5

250.8


127.0

3.3

YRM-15-DD-BGS-110

211

-64

226.6

242.3

257.5

1.7

15.7

Including



226.6

231.1


4.9

4.5

YRM-15-DD-BGS-111

204

-62

272.5

282.9

293.5

1.8

10.4

Including



272.5

274.0


12.5

1.5

YRM-15-DD-BGS-112A

208

-62

237.6

240.7

264.7

1.8

3.1

Including



237.6

238.6


4.9

1.0

YRM-15-DD-BGS-113

206

-61

123.2

141.1

152.5

8.6

17.9

Including



127.1

128.7


70.1

1.6

YRM-15-DD-BGS-114

193

-57

184.5

194.3

206.4

4.3

9.8

Including



184.5

192.0


5.5

7.4

YRM-15-DD-BGS-115

209

-60

150.9

163.0

182.5

3.0

12.1

Including



153.8

157.7


8.7

3.9

*

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 with first gold pour anticipated next Quarter.

Bagassi South Drill Program Results

The results announced today are from a nine hole, 2,360 m Diamond drill program, which was designed to further define mineralization at the QV1 target in order to support a maiden resource estimate which is expected to be completed in Q2, 2016.

All holes targeting the QV1 structure intersected the structure where expected. The QV1 structure remains open down plunge and along strike.

For a plan map showing the location of drill holes please refer to the following link (FIGURE 1).

For a longitudinal section showing results from this release please refer to the following link (FIGURE 2).

Qualified Persons

Ben Pullinger, P.Geo, Vice President of Exploration 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 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 in construction and expects to be producing gold by Q2, 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; (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") including, without limitation, statements about projected 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 (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, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary financing (and satisfaction of all conditions precedent in connection with draw downs under available credit facilities) 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 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 as currently scheduled or at all, 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 and the construction and proposed development of the Yaramoko project into an operating mine, 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 (including the risk that conditions precedent to draw downs under available credit facilities may not be satisfied), 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 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.

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

RELATED LINKS
www.roxgold.com

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