TORONTO, ONTARIO -- (Marketwired) -- 04/08/13 -- Roxgold Inc. (TSX VENTURE: ROG) ("Roxgold" or the "Company") is pleased to announce regional exploration results and provide an update on recent work on the Company's 100% owned Yaramoko permit in Burkina Faso. The Company currently has 3 core drills and a recently mobilized Geodrill, UDR-900 multi-purpose drill rig operating on the property.
-- Identification of new geochemical targets near 55 Zone from auger program.-- Completion of a 1 square kilometer IP test Survey over 55 Zone.-- Commencement of initial 6,000m reverse circulation drill program to test geochemical targets.-- 141.4 gpt Gold ("Au") over 2.0 meters in RC hole YRM-12-RC-154 at Bagassi South-- 11.9 gpt Au over 1.0 meters in diamond drill hole YAR-DD-13-002 at the newly delineated 300 Zone
"We continue to execute our three stage plan for 2013, the three stages being to further define and grow the 55 Zone, complete the Preliminary Economic Assessment ("PEA") on the 55 Zone and continue to explore for new discoveries on the property," stated John Dorward, President and CEO of Roxgold Inc. "Mobilizing the Geodrill multi-purpose rig to Yaramoko allows Roxgold the flexibility to continue to advance studies that will feed into the PEA as well as allowing the testing of a suite of promising regional targets with RC and diamond drilling. We continue to believe in the potential for the Yaramoko permit to yield more discoveries."
2013 Auger Program
The initial 2013 auger program, which tested structural and surface geochemical targets within the Bagassi Central area and around the 55 Zone, identified multiple anomalous zones. The auger program was designed to test the true soil profile under the layer of surficial cover and retrieve in situ geochemical samples. Auger holes ranged in depth from 4-6 meters near the 55 Zone to up to 15 meters deep on the newly delineated 300 Zone which is overlain by a thick laterite cap. The most significant of the identified anomalies near the 55 Zone, (Figure 1) was a 500m long northwest trending anomaly west of the 117 Zone. The next most significant anomaly lies along the western extension of the 55 Zone structure and is approximately 700m long. Both these targets will be tested within the upcoming reverse circulation ("RC") program. A 400 meter long anomaly was also identified at the 300 Zone continuing to the east of the extensive artisanal workings under cover. This target will be tested in upcoming drilling.
A second phase of auger drilling is planned for the current quarter and will cover further structural and prospecting targets including the Boni Shear Zone where anomalous grab and prospecting samples have been collected. The Company considers the Boni Shear Zone to offer a similar structural setting to SEMAFO's recent Siou Zone discovery to the north.
IP Orientation Survey
In January 2013, Roxgold commissioned SAGAX Afrique SARL to complete a 1 square kilometer IP orientation survey over the 55 Zone. The results of this survey confirm the presence of a resistive body coincident with the 55 Zone that appears to be offset on the western edge of the 55 Zone and continues to the west out of the survey area. A similar resistivity anomaly lies to the north of the 55 Zone trending to northwest through the 117 Zone. Both of these anomalies occur in close proximity to soil geochemistry anomalies identified in the 2013 auger program. (Figure 2).