Roxgold intersects 20 metres of 28 g/t gold at Seguela

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Roxgold Inc. [ROXG-TSX; ROGFF-OTC] announced further infill and extension drilling results from the Ancien deposit at its Seguela gold project located in Ivory Coast, West Africa.

Highlights from Ancien.

Infill drilling: 20 metres of 28.0 g/t gold (hole SGRC730) from 28 metres including 3 metres of

94.2 g/t from 30 m, 4 metres of 18.7 g/t from 38 metres, and 3 metres of 51.5 g/t from 43 m. ;

13 m at 12.8 g/t Au in drill hole SGRC733 including:

Extension drilling: 7 metres of 28.8 g/t gold (hole SGRD725) from 238 metres, including 3 metres of 64.6 g/t from 240 metres. Other assays were also encouraging.

“We continue to see the growth potential of the Seguela Project through the efforts of our exploration team,” stated John Dorward, President and CEO. “The continuing high-grade results from infill and extension drilling at Ancien further underpin the excellent preliminary economic assessment results released recently and are expected to add meaningful ounces for inclusion into the feasibility study early in 2021. With four rigs currently turning, I am confident that we will continue to unearth further upside from the existing four deposits as well as near-term targets on the property, which are yet to be tested.”

Paul Weedon, Vice-President, Exploration, commented: “The first two results from this six-hole infill program infilling of the high-grade shoot are very encouraging and correlate well to the high levels of visible gold seen in the samples. Designed to confirm geostatistical support for the very high-grade and continuous nature of the Ancien mineralized shoot, I am eagerly anticipating the remaining results. Also, the latest extension drilling results continue to highlight the resource upside at Ancien and follow on from the recent excellent results released on April 29, which included 10 metres at 59.4 g/t gold from SGRD705 and which is outside of the conceptual shell used for the PEA. These new results have extended the strike extent at depth by an additional 50 metres to the south where it remains open, while the7 metres at 28.8 g/t in SGRD725 emphasizes the emerging high-grade potential of the hangingwall shoot, which also remains open along strike.”

Exploration activities have continued to progress to extend and infill the existing inferred mineral resources within proximity to Antenna to support the feasibility study. Agouti, Boulder and Ancien are within 10 km of the Antenna deposit.

An additional 69 RC/DD holes have been completed at Ancien since the drill hole data cut-off date (Feb. 12, 2020) used to support the inferred resource estimate in the PEA of 261,000 ounces. Further to the results from 59 holes reported in April, the company has received results from eight drill holes completed since the resumption of field activities in late May.

These most recent results reflect the two objectives of the current programs, namely a dedicated infill program for geostatistical support of the very high-grade and continuous nature of the core Ancien mineralization, and targeting depth and strike extensions to the high-grade core beyond the PEA US $1,550/oz conceptual pit shell.

Drill testing of the down-plunge extension continues to expand the shoot to the south with results such as 14 metres of 4.3 g/t gold from SGRD723 and 14 metres of 2.6 g/t from SGRD720, expanding the strike length to at least 250 metres where it remains open beyond 350 metres below surface. Lower-grade results from SGRD724 (3 m of 1.0 g/t) support an interpretation of a gradual flattening in the plunge of the main zone of mineralization.

The resource infill program within the conceptual shell has also extended mineralization along strike to the south and highlighted the potential for further resource growth.

Good progress has been made with all geotechnical drilling completed for Ancien, Antenna, Agouti and Boulder for inclusion into the open-pit design component of the feasibility study.

Roxgold owns and operates the high-grade Yaramoko gold mine in Burkina Faso and the Seguela gold project.

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