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.
RosCan Gold (TSXV: ROS) announced on Monday positive diamond drill results from an additional four holes totaling 771 metres at the Mankouke South target of its Kandiole project in West Mali.
The drill program has extended the depth of the Southern Mankouke target from 80m in February 2020 to 120m in mid-April 2020 and to 155m currently, and the high grades over large widths shown with these most recent drill holes have extended the depth of this target, the Toronto-based miner said in the media release.
The drill program has extended the depth of the Southern Mankouke target from 80m in February to 120m in mid-April and to 155m currently
Highlights from Mankouke South target include 4.84 gpt gold over 62.0m from drill hole DDMan-20-29 from 39.2m; including 12.7 gpt gold over 7.0m from 55.2m and 10.0 gpt gold over 13.0m from 73.2m.
“We are very pleased with these wide, high grade diamond drill holes results which represent the highest gram-meter intersections to date,” President and CEO Nana Sangmuah said in the media release. “These results support a mineralization to an approximate 155m depth which remains open. The geological understanding at our project is clearly improved with this round of drilling.”
“We continue to drill deeper and along strike to the north to ascertain the limits of the mineralization,” she said.
Mankouke South remains open at depth and long strike to the north. Target drilling program continues to test strike, depth and plunge extensions of the mineralized system and geological modelling exercises are currently in progress in order to understand and project this mineralized zone.
Exploration has not been impacted to date by covid-19 virus to date, the company said.
At Monday’s close, RosCan’s stock was trading up over 40% on the TSX at a near 52-week high. The day’s trading volume exceeded 7.9 million — the daily average is 546,761. The company has a C$61 million market capitalization.
