Delta, British Columbia--(Newsfile Corp. - August 4, 2020) - Desert Gold Ventures Inc. (TSX.V: DAU, FF: QXR2, OTC: DAUGF) ("Desert Gold" or "the Company") is pleased to announce that it has completed its planned exploration program over its 410 km2 SMSZ Property in Western Mali. In total, 4 core holes, 13 RC holes and 34 AC holes were completed for a total of 3,759.5 metres. As well, 1,065 auger holes were drilled totalling 9,557 metres. Assay results are pending.
The SMSZ Project is both named after and overlies a 38 km section of the Senegal Mali Shear Zone (see Figures 1. and 2.), which is related to 5 large mines located to the north and south, along strike, including B2 Gold's Fekola Mine, Barrick's Gounkoto and Loulo Mines and AngloGold Ashanti/Iamgold's Sadiola and Yatela Mines1. To the Company's knowledge, its SMSZ Project is the largest, contiguous, non-producer land package over this very prospective structural feature.
Desert Gold's CEO Jared Scharf commented "I am very pleased our team was able to complete the planned drill program and a bit more, before the annual rainy season set in and made exploration impractical. All samples have been delivered to the laboratory. We are looking forward to the results, which we believe will continue to demonstrate the value of this large sized, well situated, exploration property."
SMSZ Project Exploration Update Details
Desert Gold's planned SMSZ exploration program was successfully completed on Jul 29. In total, 4 core holes, 13 RC holes and 34 AC holes were completed for a total of 3,759.5 metres. As well, 1,065 auger holes were drilled for 9,557 metres. Assay results are expected in August.
Gourbassi East and West Zone Drilling
In detail, 3 core holes totalling 676.5 metres and 12 RC holes totalling 1136 metres were drilled over the Gourbassi East and West Zones. Core and RC holes were designed to target extensions to know mineralization, including follow-up of an at-surface intercept of 3.52 g/t gold over 33 metres (estimated 28 metres true thickness) and to validate an updated interpretation of the mineralized zones. For the most part, sericite- and silica-altered and pyrite-mineralized zones were intersected where expected. This type of sulphide mineralization has returned gold values in previous holes, however, there is no guarantee that gold mineralization will be returned from these holes
Figure 1: SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal
To view an enhanced version of Figure 1, please visit:
The Gourbassi West Zone consists of four, interpreted, north-trending lenses of gold mineralization that have been traced for approximately 1,000 metres along strike and to 140 metres depth. Drill holes have returned intercepts to 3.52 g/t gold over 33 metres (approximately 28 metres true width). Thicker mineralized zones appear to plunge shallowly to the north. The mineralized lenses are hosted by intermediate volcanic rocks, silicified hydrothermal breccias and sediments, located immediately to the east of a major, north-northeast trending, likely structural, geological contact. Hydrothermal breccias are common in the Gourbassi area and are often gold bearing. The hydrothermal breccias continue for at least 1,100 metres to the north of the Gourbassi West Zone, where weak to moderate strength, gold-in-soil anomalies to 170 ppb gold, have been noted. Induced polarization (IP) resistivity high anomalies correlate quite well with the mineralized zones, which are generally silicified, sericitic and pyritic. Several, nearby, untested IP resistivity highs will be evaluated as exploration targets.
The Gourbassi East Zone consists of at least seven, north-northeast trending lenses of gold mineralization up to 37 metres wide, that have been traced for approximately 800 metres along strike to 170 metres depth. The deepest hole returned 7.49 g/t gold over 11 metres (true width approximately 6 metres). This zone is dominantly hosted by pyritic, quartz-veined, sericitic, high titanium, intermediate composition volcanic rocks. Felsic volcanics have been noted in the area, but, their relationship with the mineralized zones is uncertain. Magnetic and mapping data indicates that the thickest part of the gold zone lies near a northerly-trending shear zone contact with a northwesterly-trending magnetite iron formation.
Two holes were drilled at Barani East, a core hole to 204 metres to test the interpreted down-plunge extent of an intercept that returned 6.3 g/t Au over 13 metres* and a 122 metre long RC holes to test the interpreted down-plunge extent of an intercept that returned 8.26 g/t Au over 4 metres*. Sulphidized limestone with pyrite plus local arsenopyrite mineralization, were intersected where the mineralized zones were expected. This type of sulphide mineralization has returned gold values in previous holes, however, there is no guarantee that gold mineralization will be returned from these holes.
The Barani East zone is a northeast-trending, sulphide replacement zone in silicified limestones. This type of alteration and host rock, are similar to the large Sadiola Gold Mine, located along the same structural and geological trend, approximately 50 km to the north. Multiple, moderate-southwest-plunging lenses of gold mineralization have been both identified and inferred in the Barani East area. A single core hole is planned at the Barani East Zone to test approximately 70 metres down-plunge of 6.3 g/t gold over 13 metres (approximately 11 metres true thickness). If this hole intersects additional strong gold grades, two additional holes have been proposed as follow-up. The goal with Barani East, is to continue to expand the mineralization footprint with an objective to increase the current modest indicated resource of 46,600 ozs gold grading 2.22 g/t gold and an inferred resource of 23,300 ounces grading 2.29 g/t gold (2016, 43-101 compliant report - Technical Report on the Farabantourou Gold Mining Permit, Kéniéba District, Western Mali, Mineral Resource Update). Drilling, completed subsequent to the resource estimate, has extended the gold mineralized zones beyond the current in-pit estimated resource.
Air Core Drilling
A total of 32 Air Core holes were drilled in the recent program.
Seventeen of the holes were completed in the "Barani Gap" as follow-up of a previous AC program that returned intercepts of 3.03 g/t Au over 10 metres* and 3.5 g/t Au over 8 metres*. Both intercepts were returned from sulphide-altered limestone, similar to the Barani East Zone, which is located 1,000 metres to the north.
Eleven of the holes totaling 530 metres, were drilled on the newly acquired Sola West Concession, with a five-hole fence drilled across the north end of the Kolon artisanal mining site and a six-hole fence, drilled across the south end of the Sola artisanal mining area. Both drill fences cut across the interpreted northeast strike extension of the Barani-East Zone structural corridor and both areas, host artisanal mining pits to 100 metres long. A hole completed, in a late 2019 drill program, returned 3.04 g/t Au over 30 metres*, in the central part of the Soa artisanal mining area.
An additional six AC holes, totaling 308 metres were drilled to test the Serokoto North target area, centered about 5 km north-northwest of the Barani Zone. These holes were drilled to test an interpreted, 800 metre long, northwest-trending structure that returned historic grab samples, from excavated pits, to 4.02 g/t Au.
The objective of the auger drilling, is to test for gold mineralization below, what is generally, a barren cap of surficial, iron enrichment, that often occurs in West Africa. An advantage of laterite cover, is that, often, this area has not been the subject of previous exploration programs and, if related to iron-bearing alteration in the rocks below, results in a good quality exploration target area.
A total of 21, generally, wide-spaced, auger drill fences comprising 1,065 holes were completed with an average depth of approximately 9 metres. All holes were vertical with holes on individual fences spaced 25 metres apart. Auger drill fences were completed over the laterite-covered, projected strike of the Senegal Mali Shear Zone (5 fences), across the northeast-trending structural corridor that hosts the Barani East and Soa Zones (12 fences), along the northerly strike extent of the Berola Zone hydrothermal breccias (3 fences) and across a distinct structural feature in the southeast corner of the property (1 fence). Most of the holes, and, the longest drill fence at approximately 4.4 kilometres long, were drilled across the wide, laterite-covered area adjacent to the east side of the Senegal Mali Shear Zone, in the central portion of the property.
To view an enhanced version of Figure 2, please visit:
*All gold grades over width, with the exception of the Soa prospect, represent drill holes with the true widths, for most holes, ranging from 70 to 95%. **The Soa Prospect result is from a trench with true widths unknown. Estimated true widths for the Berola Prospect are unknown. True widths at the Gourbassi Zones range are estimated to range from 60% to 90%.
All AC, and RC samples were geologically logged following Desert Gold's established standard operating procedures. For AC and RC drilling, all individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2 kg sub-samples which were sent by truck from the project site, for preparation and gold assaying at the SGS laboratories in Bamako, Mali.
Each sample (AC, and RC) is fire-assayed for gold by SGS laboratories in Bamako using Au-FAA505 method, which is a 50g fire assay fusion with AAS instrument finish. In addition to SGS's own QA/QC (Quality Assurance/Quality Control) program, Desert Gold's internal quality control and quality assurance procedures included the use of certified standards (1 :20), sample duplicates (1 :20) and blanks (1 :20). Sample batches that fail QAQC review, especially those with significant gold intercepts, are re-assayed with the insertion of new standards.
Ashanti Gold Drill Results QAQC Procedures for the Gourbassi Zones
Certified Reference Materials and Blanks were inserted into the sample stream at the rate of 1:20 samples. Field duplicates are collected at the rate of 1:50 samples. All samples have been analyzed by SGS Laboratories in Bamako with standard preparation methods and 50g fire assay with atomic absorption finish. SGS adds their own QA/QC samples into the sample stream and had reported them to Ashanti for double checking. Higher grade samples were reanalyzed from pulp or reject material or both.
This press release contains certain scientific and technical information. The Company is solely responsible for the contents and accuracy of any scientific and technical information related to it. Don Dudek, P.Geo a director of Desert Gold and a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this press release.
About Desert Gold
Desert Gold Ventures Inc. is a gold exploration and development company that holds two gold exploration projects in Western Mali (SMSZ, Segala and Djimbala), the Anumso gold Project in Ghana and its Rutare gold project in central Rwanda. The Company's current focus is its 407 km2 SMSZ Project that spans approximately 38 km of the prolific Senegal Mali Shear Zone.
On Behalf of the Board of Directors
Jared Scharf, President & CEO
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the united states. The securities described herein have not been and will not be registered under the united states securities act of 1933, as amended, and may not be offered or sold in the united states or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such act.
1 Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company's SMSZ Property.
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