2014

Roxgold intercepts 226.76 grams per tonne gold over 3.1 metres (2.7 metres true width) in drilling at Bagassi South

Infill Drilling Confirms Further High Grade Gold Mineralization at QV1 Target

TORONTO, May 6, 2014 /PRNewswire/ - Roxgold Inc. (ROG: TSX.V) ("Roxgold" or the "Company") is pleased to announce the latest results from its exploration program at Yaramoko's prospective Bagassi South Zone, where it continues to intersect high grade gold mineralization. 

Highlights from the current diamond drilling program at Bagassi South's QV1 target include:

  • 226.76 grams per tonne ("gpt") gold over 3.1 metres (2.7 metres true width) including 442.00 gpt gold over 1.6 metres (1.4 metres true width) in diamond drill hole YRM-14-BG-041
  • 3.04 gpt gold over 5.0 metres (3.2 metres true width) including 11.30 gpt gold over 0.6 metres (0.3 metres true width) in diamond drill hole YRM-14-BG-043 as well as an additional intercept of 3.04 gpt gold over 3.8 metres (2.4 metres true width)
  • 2.44 gpt gold over 1.7 metres (1.5 metres true width)  including 6.56 gpt gold over 0.6 metres (0.5 metres true width) in diamond drill hole YRM-14KD-BG-023, located 200 metres West along strike from QV1

"The high grade mineralization encountered as part of our ongoing drilling program at Bagassi South continues to validate our views on the area's potential," commented John Dorward, President and CEO.  "These latest results appear to confirm the continuity of the QV1 target in particular, which we continue to define, and remains the focus of our regional exploration efforts."

The current drill program follows up on high grade drill results* announced in early 2014 and in 2013, which included:

  • 41.7 gpt gold over 4.4 metres in drill hole YRM-KD-BG-15
  • 25.0 gpt gold over 3.8 metres in drill hole YRM-KD-BG-11
  • 19.94 gpt gold over 3.7 metres including 43.7 gpt gold over 1.7 metres in hole YRM-14-BG-037
  • 16.24 gpt gold over 3.8 metres including 35.1 gpt gold over 1.7 metres in hole YRM-14-BG-036
  • 16.0 gpt gold over 1.0 metres within a wider intercept of 3.1 gpt over 10.2 metres in drill hole YRM-KD-BG-10
  • 14.4 gpt gold over 0.48 metres in drill hole YRM-13KD-BG-019
  • 13.8 gpt gold over 1.1 metres in drill hole YRM-14-BG-038
  • 10.97 gpt gold over 2.56 metres within a wider intercept of 2.53 gpt over 13.93 metres in drill hole YRM-13KD-BG-023

For additional information see news releases dated February 20, 2014, October 31, 2013 and July 9 2013.

*Reported widths are core length not true width. True width is estimated to be 85% of core lengths intercepted

Summary of Diamond Drilling Results

Hole ID

Dip

Azimuth

From

To

Value

 (gpt)

Over (m)

True

 Width

Target

Bagassi South

YRM-14-BG-039

-64

222

182.8

184.3

0.69

1.5

1.1

HW

YRM-14-BG-040

-58

229

133.7

135.2

0.80

1.5

1.2

HW

And



156.8

158.3

1.04

1.5

1.2

HW

And



174.5

176.0

1.19

1.5

1.2

HW

YRM-14-BG-041

-49

208

160.7

163.7

226.76

3.1

2.7

QV1

Including



162.2

163.7

442.00

1.6

1.4

QV1

YRM-14-BG-042

-59

201

138.6

141.5

1.18

2.9

2.3

QV1

YRM-14-BG-043

-62

167

96.8

108.4

0.56

11.7

7.4

QV1 splay

Including



96.8

98.3

1.24

1.5

1.0

QV1 splay

and Including



104.3

105.8

1.35

1.5

1.0

QV1 splay

and Including



107.3

108.4

0.88

1.1

0.7

QV1 splay

And



127.6

132.6

3.04

5.0

3.2

QV1

Including



132.0

132.6

11.30

0.6

0.3

QV1

And



137.8

141.6

3.04

3.8

2.4

QV1

Including



137.8

138.9

8.54

1.1

0.7

QV1

YRM-14KD-BG-023

-49

205

71.5

73.1

2.44

1.7

1.5

QV1 ext

Including



72.6

73.1

6.56

0.6

0.5

QV1 ext

Table 1: Highlights from 2014 exploration drilling on Yaramoko Permit.
* No capping has been applied to assays included in this release.

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

Diamond Drilling

Mineralization at Bagassi South occurs within a set of en echelon veins hosted on the edge of a granitic intrusion 1.8 kilometres to the South of Roxgold's flagship deposit, the 55 Zone.  During this latest phase of the drilling program at Bagassi South, 12 holes have been completed testing the QV1 target (see Figure 1 for a map of drill hole locations).  Drilling along QV1 aimed to infill drill gaps as well as define and extend the current envelope (see Figure 2 and Figure 3).  This drilling is being completed with an NQ capable diamond drill rig, while a BQ capable rig continues testing scout drilling targets in the immediate area. This includes following the QV1 structure West where anomalous mineralization was encountered in hole YRM-14KD-BG-023. So far nine holes have been completed with this scout rig.

"Our regional exploration program continues to progress not only at Bagassi South, but also at Haho, where we have initiated an RC drill program," stated Ben Pullinger, Vice President, Exploration. "Our aim is to identify a second resource on the Yaramoko property and we are encouraged by this latest round of results which bring us closer to that goal."

Qualified Person

Pierre Desautels, P.Geo, of AGP Mining Consultants Inc., a Qualified Person within the meaning of National Instrument 43-101 who is an independent consultant to the company, has verified and approved the technical data disclosed in this 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 in Ouagadougou.  The core was dried and crushed by The Labs and a 150 gram pulp was prepared from the coarse crushed material.  The Labs 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 Labs inserted their own quality control samples.

About Roxgold

Roxgold is a gold exploration and development company with its key asset, the high grade, 100% owned Yaramoko Gold Project located in the Houndé greenstone region of Burkina Faso, West Africa.  The Company is currently advancing Yaramoko's 55 Zone through permitting and expects to commence development in Q4 2014.  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; (iii) the completion and timing of the environmental assessment process (iv) the results of the Feasibility Study including statements about future production, future operating and capital costs, the projected IRR, NPV, payback period, 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 Short Form Prospectus dated March 17, 2014 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.



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