Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Bedford-based RosCan Gold (TSXV: ROS) announced this week positive assay results from an initial Air Core drilling program at its Kandiole project in western Mali.
The project is comprised of five permits of contiguous land in the Birimian Rocks, east of B2Gold’s Fekola mine and Iamgold’s Boto and Diakha deposits.
In a press release, RosCan said that the drilling program was completed in December 2018 and was designed to test strong termite and soil gold anomalies.
“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,” the miner’s statement reads.
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
RosCan said that results include 5.94 g/t gold over 14 metres, including 26.7 g/t gold over 2 metres; 8.68 g/t gold over 14 metres, including 41.5 g/t gold over 2 metres; 8.47 g/t gold over 18 metres, including 29 g/t gold over 4 metres; 4.98 g/t gold over 8 metres, including 16.6 g/t gold over 2 metres; and laterite-hosted 3.06 g/t gold over 8 metres and 2.71 g/t gold over 4 metres.
“This is an excellent new discovery with very good gold grades. The mineralized zone is open to depth and appears, from a limited amount of drilling, to extend to the next drill line located approximately 250 metres to the north, and hopefully beyond, along this large geochemical anomaly,” Greg Isenor, President and CEO, said in the media statement.
Isenor also said that his team feels encouraged by the indications that the apparent high-grade zone continues to depth, and that they are planning an additional drilling program.
“Further drilling will be carried out to test the extent of the mineralization at depth and along strike to the north and south of the strongly mineralized zones. Additional gold-in-termite and termite anomalies zones remain to be tested,” the media brief reads.
