Roxgold announces final results from 55 Zone infill drilling program

Infill development drilling continues to confirm continuity of high grade at the 55 Zone

TORONTO, Oct. 8, 2015 /CNW/ - Roxgold Inc. (ROG: TSX.V) ("Roxgold" or the "Company") is pleased to announce the latest results from a development infill drilling program at the 55 Zone.

55 ZONE INFILL DRILLING HIGHLIGHTS:

• 73.9 grams per tonne ("gpt") gold over 5.5 metres (4.4 metres estimated true width) in diamond drill hole YRM-15-DD-368a;
• 91.2 gpt gold over 2.6 metres (2.1 metres estimated true width) in diamond drill hole YRM-15-DD-375;
• 20.4 gpt gold over 6.0 metres (5.2 metres estimated true width in diamond drill hole YRM-15-DD-352;
• 13.5 gpt gold over 8.8 metres (7.3 metres estimated true width) in diamond drill hole YRM-15-DD-354; and
• 24.3 gpt gold over 4.4 metres (3.6 metres true width) including 107.0 gpt over 1.0 metres (0.8 metres true width) in diamond drill hole YRM-15-DD-328.

"The successful completion of this program is another milestone on the road to production for the 55 Zone," commented John Dorward, Roxgold's President and CEO. "The integration of these results provides additional confidence in our mine plan as we move towards production in the second quarter of next year."

55 ZONE PROGRAM SUMMARY:
The 48 holes released today (DDH328 - DDH375) are the remainder of the Company's infill drilling program at the 55 Zone, which commenced in Q1 2015. The entire program totalled 75 holes for a total of approximately 6,900 metres of diamond drilling, to depths of up to 150 metres. 

These results, incorporated with the results for the 28 previously released holes (See Company disclosures April 14, 2015 and May 19, 2015), account for the completion of infill drilling for the upper 100 metres of the deposit along the entire strike length of the 55 Zone (See Figure 1). The continuity and the high grade nature of the results continue to support the feasibility resource model with intersections consistent with the Company's expectations. Overall, the infill drilling program has highlighted places within the model where, with greater resolution in the data and geological context, the Company believes that localized improvements to the model may be realized. To the west of the deposit, where a small section of the 55 Zone bifurcates, results were more variable than to the east; however this variability is consistent with previous drilling in this part of the deposit.

The existence of a small number of historical voids believed to have been created by artisanal miners, were intersected in drilling in localized areas down to a maximum depth of 50 metres. Infill drilling below these voids did not encounter the continuation of these voids, and they appear to be limited laterally along strike as well. The voids are believed to be sub-vertically excavated tunnels from surface and are not expected to have any significant impact on mining activities. Voids intersected in holes YRM-15-DD-328, 329, 330 and 334 occur over a strike length of 50 metres at a depth of approximately 50 metres. The feasibility mine plan incorporated footwall development in this area and as such the voids are not expected to significantly impact ore recovery. Voids intersected within the western portion of the 55 Zone (YRM-15-DD-350, 359, 361, 368a, 371 & 372) were intersected mostly within 30 metres from surface and are not expected to impact mineral resources or planned mining activities in these areas. 

The 55 Zone is no longer an active artisanal mining site and the Company has erected a secure perimeter fence around the surface expression of the 55 Zone.

Drilling at the 55 Zone is designed to increase drill density in the first year's production areas from 25 metres to 12.5 metre centres (See Table 1 for highlights of latest results). Upgrading the drill density in these key early areas will allow for optimization of the mine plan and provide additional information for advanced design and short term planning for the first year of production.

TABLE 1: SUMMARY OF DIAMOND DRILLING RESULTS AT 55 ZONE

*Results are reported un-cut. A top cut of 250 g/t is applied to 1.5 metre composites within the high grade domain of the 55 Zone for resource estimation purposes (See Company disclosure on April 22, 2014).

Click here for a full list of today's results.

QUALIFIED PERSON
Ben Pullinger, P.Geo, Vice President of Exploration for Roxgold Inc., a Qualified Person within the meaning of National Instrument 43-101, has verified and approved the technical data disclosed this press release. This includes the sampling, analytical and test data underlying the information.

QUALITY ASSURANCE/ QUALITY CONTROL
Drill holes reported in this press release were drilled using NQ sized diamond drill bits. Company personnel are located at the drill site. Contractors and 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 Act Labs (the "Lab") in Ouagadougou.  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 advancing Yaramoko's 55 Zone through construction and expects to commence production in the second quarter of 2016. Roxgold trades on the TSX Venture Exchange under the symbol ROG.

"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 inferred and indicated mineral resources and probable mineral reserves; (ii) the success of exploration activities; and (iii) the results of the Feasibility Study including statements about 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, 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 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, the completion of the environmental assessment process, 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, risks relating to variations in mineral resources and mineral reserves, grade or recovery rates resulting from current exploration and development activities, 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, 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, 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.