Desert Gold Activity Update at SMSZ Project in Western Mali; New Artisanal Mining in Priority Exploration Target Area
Desert Gold Activity Update at SMSZ Project in
Western Mali; New Artisanal Mining in Priority
Exploration Target Area
Delta, British Columbia--(Newsfile Corp. - March 21, 2023) -
Desert Gold Ventures Inc.
(TSXV: DAU)
(FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to provide an SMSZ Project update. A
total of 445 auger holes totalling 2,067 metres have been completed over priority soil and structural
targets proximal to Desert Gold's Mogoyafara South and Gourbassi West North gold deposits. Samples
for these holes have been submitted to SGS Laboratories in Bamako.
As part of Desert Gold's regular site routine, exploration staff tour our 440 km
2
property (see Figure 1 for
locations) to document artisanal mining activity. Recently a new zone of artisanal mining activity was
observed approximately 500 metres south of our Mogoyafara South gold deposit (Inferred mineral
resource estimate comprising 412,800 ounces of gold grading 1.05 g/t gold - see Desert Gold news
release Jan. 17, 2022
)
. The new artisanal zone is approximately 400 metres long and 50 to 75 metres
wide. Host rocks include sheared conglomerate, sandstone, siltstone and shale with both northerly and
easterly trending quartz veining with associated albite, sericite and pyrite alteration. The image below
shows a narrow, easterly-trending quartz vein with darker pyrite casts in the weathered rock adjacent to
the vein. Samples from this site have returned up to 1.55 g/t gold (see Figure 1). Another new area of
artisanal mining has open up approximately 1,000 metres to the east of the Mogoyafara South trend
(see Figure 2); samples from two, 50 metre long by 2 to 5 metre wide artisanal zones returned grab
samples to 5.04 g/t gold.
Figure 1 - Mogoyafara South new artisanal mining site - grab sample returned 1.55 g/t gold
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Figure 2 - Mogoyafara South new artisanal mining sites and 2023 auger drill stations
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Another informal mining area was noted approximately 2 km east of the Kolon Zone (see Figure 1 for
locations) located in the central eastern part of the concession area. This area, which has not yet been
explored by Desert Gold was the subject of a larger scale mining operation using excavators and several
large sluice boxes using water supplied from two, 50-100 metre wide, man-made lakes. Open pit
excavations, in saprolitized sediments, ranged up to 100 metres across and up to 15 metres deep
before authorities stopped the work.
Figure 3 - Illegal mining operation
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Jared Scharf, President, and CEO commented, "I am always pleasantly surprised when new artisanal
mining sites open up on our SMSZ property. This new activity supports our belief that with more work,
new gold zones will be discovered on our property. I am also pleased that we have been able to
complete more auger holes than planned and are still under budget. We look forward to getting these
results out as soon as possible."
The initial planned exploration drilling consisted of auger drilling (approximately 2,500 metres in 325
holes) to probe the strike extents of the magnetic anomaly trends for gold enrichment, test several large-
scale structural targets and validate the proximal, high gold (>200 ppb) in soils and termite mounds. To
date, 2,067 metres of auger drilling have been completed with holes averaging 4.6 metres deep with a
range of 2 to 15 metres deep. Two samples are collected for assay from each hole corresponding to the
base of the laterite and upper portion of the saprolite or weathered rock. Additional holes, to fulfill the
2,500 m auger drilling contract will be carried out to bracket the best anomalies, once the first phase
assay results are received.
Once the auger results have been received, it is expected that follow-up
drilling to further test the deposit and to test new targets, will be recommended. Desert Gold has
successfully used auger drilling to discover new gold zones like the Gourbassi West North Zone where
holes have returned up to 1.08 g/t Au over 123.95 metres (true width estimated to be approximately 87
metres).
Figure 4. Plan Map Mineral Deposits and Zones, significant drill hole intercepts**, soil geochem
summary on color-contoured analytical signal magnetic data
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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 both Qualified Persons under National Instrument 43-101, have
reviewed and approved the scientific and technical information contained in this press release.
**All gold grades over width, with the exception of the Soa, Berola and Gourbassi prospects, represent
drill holes with the true widths, for most holes, ranging from 65 to 95%. Estimated true widths for the Soa
and Berola prospects are unknown. Estimated true widths at the Gourbassi Zones are estimated to
range from 60% to 90%. True widths at Linnguekoto West are estimated to be 50% of drilled length.
QAQC
All rock samples are delivered to SGS in Bamako, Mali where they are prepped and analyzed.
Standards, assay blanks and sample duplicates, are inserted into the assay stream every 20 samples,
respectively. All assay batches are reviewed for quality with re-assays requested 20 samples on either
side of standards that assay more than 2 to 3 SD from an excepted value and for blanks that contain
more than 10 ppb gold.
Ashanti Gold drill results QAQC Procedures for the Gourbassi East and West 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 does their own introduction of QA/QC samples into the sample stream and
reports them to Ashanti for double checking.
Higher grade samples are reanalyzed from pulp or reject
material or both.
Hyundai QAQC Procedures
Desert Gold does not have any information regarding Hyundai's QAQC procedures at the Linnguekoto
West Zone. However, based on follow-up of historic drill results in the Barani Area indicates an
acceptable level of accuracy.
Other Business
Pursuant to the Company's stock option plan, 2,875,000 incentive stock options have been issued to
certain directors, officers, employees and consultants of the Company. The options are exercisable at
$0.07 per share and expire five (5) years from the date of issuance.
On Behalf of the Board
"Jared Scharf"
___________________________
Jared Scharf
President & CEO
About Desert Gold
Desert Gold Ventures Inc. is a gold exploration and development company which controls the 440 km
2
SMSZ Project in Western Mali containing Measured and Indicated Mineral Resources of 8.47 million
tonnes grading 1.14 g/t gold totaling 310,300 ounces and Inferred Mineral Resources of 20.7 million
tonnes grading 1.16 g/t gold totaling 769,200 ounces.
For further information please visit
www.SEDAR.com
under the company's profile. Website:
www.desertgold.ca
This news release contains forward-looking statements. These forward-looking statements entail
various risks and uncertainties that could cause actual results to differ materially from those reflected
in these forward-looking statements. Such statements are based on current expectations, are subject
to a number of uncertainties and risks, and actual results may differ materially from those contained in
such statements. These uncertainties and risks include, but are not limited to, the strength of the
capital markets, the price of gold; operational, funding, liquidity risks, the degree to which Mineral
Resource estimates are reflective of actual Mineral Resources, the degree to which factors which
would make a mineral deposit commercially viable, and the risks and hazards associated with mining
operations. Risks and uncertainties about the Company's business are more fully discussed in the
company's disclosure materials filed with the securities regulatory authorities in Canada and available
at
www.sedar.com
and readers are urged to read these materials. The Company assumes no
obligation to update any forward-looking statement or to update the reasons why actual results could
differ from such statements unless required by law. 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.
Contact
Jared Scharf, President and CEO
Email:
Tel. No.: +1 (858) 247-8195
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/159188