Business
Roscan Provides Update on West Africa Activities
Toronto, Ontario--(Newsfile Corp. - December 5, 2017) - RosCan Minerals Corporation (TSXV: ...
About this update from Roscan Gold Corporation
[{"type":"text","content":"Roscan Provides Update on West Africa ActivitiesToronto, Ontario--(Newsfile Corp. - December 5, 2017) - RosCan Minerals Corporation (TSXV: ROS) (\"RosCan\" or the \"Company\") is pleased to provide the following progress update: DORMAA GOLD PROJECT (GHANA)Drill Program — Gold anomalous areas have been identified with the completion of a prospecting program and gold-in-soil geochemical survey. A 3,000 metre reverse circulation and air core rotary blast drill program has been designed to test these anomalies and had been delayed due to obtaining the necessary approvals. This drilling is expected to begin in January 2018. Option and Joint Venture Agreement — Certain provisions in the agreement made with Pelangio Exploration Inc. are being renegotiated for RosCan to assume operatorship. The necessary amendments are expected to be finalized by year end. In addition, RosCan's remaining payments pursuant to the agreement have been extended and are now as follows:   (a)  fund $1,700,000 in exploration expenditures, as follows:                 Amount Due Date       $700,000 By June 5, 2018; and,       $1,000,000 By June 5, 2019.               (b)  pay to Pelangio an aggregate of $150,000, as follows:                 Amount Due Date       $50,000 On June 5, 2018; and,       $100,000 On June 5, 2019             WEST AFRICA LAND ACQUISITION STRATEGYRosCan is making excellent progress in advancing its strategy to acquire additional gold prospective properties in West African countries. RosCan is currently assembling a sizeable land package in Mali and expects to provide further details in the coming weeks. COMMENTARYGreg Isenor, President and CEO of RosCan, stated, \"We are excited that the first phase of drilling on the Dormaa Project is expected to begin in January and appreciate the efforts of the traditional authorities and government officials in the approval process. In addition, we are fairly advanced on assembling a land package in the prolific Birimian rocks of Mali, West Africa, using an approach that has proven to be successful for me in past\".ABOUT ROSCANRosCan Minerals Corporation is a Canadia...