Desert Gold Announces Newly Found Drill Data Provides Exploration and Resource Expansion Opportunities at SMSZ Project
Desert Gold Announces Newly Found Drill
Data Provides Exploration and Resource
Expansion Opportunities at SMSZ Project
Surrey, British Columbia--(Newsfile Corp. - February 3, 2025) -
Desert Gold Ventures Inc.
(TSXV:
DAU) (FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to present newly discovered historic
drill data for 49 holes on and proximal to, the Mogoyafara South Deposit and partial data for an
additional 29 holes on and proximal to the Linnguekoto West Deposit (see Figure 4. for locations).
Together, estimated gold resources at these two zones comprise Inferred Mineral Resources of 479,000
ounces of gold grading 1.09 g/t gold
1
.
Highlights*:
Mogoyafara South Deposit Area ("MS")
(see Figure 1.)
Drill results
*
:
-
1.58 g/t gold over 33 metres
in hole RCSP 1316 (confirmed model, zone double expected
thickness)
-
0.83 g/t gold over 42 metres
in hole RCSP 1313 (40 metre step-out, outside of resource pit,
significantly wider than expected)
-
2.85 g/t gold over 11 metres
in hole RCSP 1317 (confirms model)
-
1.78 g/t gold over 17 metres
in hole RCSP 1304 (confirms model)
-
1.2 g/t gold over 23 metres and 0.87 g/t gold over 15 metres
in hole RCSP 1300 (confirms
model, 60 metre west step out from previous hole)
-
1.79 g/t gold over 14 metres
in hole RCSP 1323 - (confirms model, slightly wider than expected)
-
1.16 g/t gold over 20 metres
in hole RCSP 1301 (does not match model, shallower than expected)
-
1.25 g/t gold over 17 metres
,
0.98 g/t gold over 16 metres and 0.99 g/t gold over 7 metres
in
hole RCSP 1302 (both better and worse than previous model, overall a bit better)
-
0.91 g/t gold over 23 metres
in hole RCSP 1320 (confirms model)
-
1.46 g/t gold over 14 metres, 0.85 g/t gold over 19 metres and
1.14 g/t gold over 18 metres
in
hole RCSP 1311(confirms model, additional non-modelled mineralization at depth - 1.14 g/t gold over
18 metres)
Linnguekoto West Deposit Area ("LW")
(see Figure 2.)
-
3.4 g/t gold over 12 metres **
in hole LN011 (~1.4 km south of LW resource pit)
*
true width 70 to 100% of drilled length
** true width unknown
Company CEO Jared Scharf commented "The latest batch of drill and trench data enhances our
understanding of the Mogoyafara South Deposit and suggests more drilling will likely lead to extensions
of the gold zones. As well, one really good hole of 3.4 grams per tonne over 12 metres at Linnguekoto
West, opens up a new exploration corridor to the South of the main zone and has the potential to
significantly upgrade this target area. Overall, this new data further confirms our belief that the SMSZ
project has significant, yet to be discovered, exploration blue sky."
Technical Data
Desert Gold recently located news releases and quarterly reports from Australian-based, Golden Rim
Resources, which highlighted soil sampling, prospecting, trenching and drilling carried out over and
proximal to the Mogoyafara South and Linnguekoto West gold Deposits. Data files for most of this work
were acquired, compiled and evaluated.
Mogoyafara South
Newly acquired data includes assay results for 8,102 RC samples, including QAQC data for 49 RC
holes totalling 6,885 metres within and proximal to the Mogoyafara Deposit. Twenty-six of the holes lie
within the resource model and validate the model. However, 9 of these holes returned weaker
mineralization than was modelled. Conversely, 11 holes returned additional mineralized intercepts and
locally, significantly wider intercepts than expected. Drilling to the north and south of the deposit
extended mineralization for an additional 400 and 450 metres, respectively.
In management's opinion, the new drill data has the potential to support a small increase in the mineral
resources and indicates good potential to increase the mineral resource with more drilling.
Composites, using a 0.3 g/t Au cut-off and up to 3 metres of internal dilution, were calculated for the 49
holes (see Table 1 for assay composites) and Figure 1 for hole and select composite locations.
Linnguekoto West
A March 31, 2012 Golden Rim corporate summary report indicates that 29 RC holes totaling 4,035
metres was drilled in the Linnguekoto West Deposit area. This report, also provide composites for only
seven drill holes (see Table 2) including a strong intercept of 3.4 g/t Au over 12 metres in hole Lin011
and indicate that no significant mineralization was encountered in the remaining 22 holes. Unfortunately,
Desert Gold has not been able to acquire the drill data set and are relying on summary maps from the
above quarterly report. Field work though, has located the collars of 20 holes and was not able to find 9
holes, one of which is within an artisanal site. Collar locations for four of the seven holes with composites
were located in the field with holes Lin01, Lin02 and Lin04 either not labelled or not located.
Follow-up drilling to test high grade results in surface trenches that returned 3.15 g/t Au over 16 metres
and 2.24 g/t Au over 43 metres, reportedly returned no significant results with Golden Rule remarking
that the mineralization did not extend to depth. Hole Lin011 was drilled approximately 170 south of the
above trenches. This drilled mineralization is open to the north and south.
Figure 1. Mogoyafara South Area - New Drillhole Data
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Figure 2. Linnguekoto West Area - New Drillhole Data
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Technical Study Update (The "PEA")
Work on the PEA for oxide and transition mineral resources at the Barani East and Gourbassi West
Deposits is advancing quickly. As well, a mineral resource estimate for the Gourbassi West North
Deposit is nearing completion. Outstanding items include additional non-material, gravity test work for
the Barani East Deposit and geotechnical test work of the mineralized zones.
Exploration Next Steps
With the newly acquired Golden Rim drill, trench and grab sample data for the Mogoyafara South and
Linnguekoto West areas, an updated drill plan is being prepared and will be included in a prioritized list
of proposed exploration drill holes on the SMSZ property.
An additional initiative includes detailed mapping and re-modelling of the Barani Zone, where previous
drilling intersected up to six, interpreted northerly-trending, semi-parallel lenses of gold mineralization
along a 2 km strike that returned intercepts of up to 2.87 g/t Au over 3 metres (true width estimated at 2
metres) and 0.85 g/t Au over 24 metres (true width estimated at 5 metres). New artisanal workings
suggest, at least locally, that mineralized structures may also trend northeast.
QAQC
A review of the available Golden Rim drill data for the Mogoyafara South drilling indicates that sample
standards, duplicates and blanks were inserted every 20 samples resulting in QAQC samples inserted
every 4 to 9 samples. A review of the QAQC data indicates all but one of the highlighted drill intercepts
returned acceptable QAQC results with the one standard fail, likely due to a sample standard mix-up. An
audit review of less significant drill intercepts revealed another two standard fails out of 34 drill intercepts
that were reviewed, which were also likely related to sample standard mix-ups. A high-level review,
including graphing the analytical results of the standards, duplicates and standards revealed generally
acceptable values with occasional local fails and one standard, Geostats G905-5 exhibiting 11 standard
fails at >3SD from the accepted value with none of these fails impacting any material composites.
Unfortunately, there was no evidence of re-assays to validate assay batches related to standard or
blanks failures. In addition to the assay review, of the 49 drill holes, collars were found for 32 holes, with 9
hole collars lost due to artisanal workings and 8 holes collars not located. Overall, there was excellent
correlation with the drill database coordinates and the collar site locations on the ground with all collars
found where expected.
For Linnguekoto West, there was no way to confirm the drill assay results or composite table. However, if
the same methodology was followed for Linnguekoto West as for the Mogoyafara South drilling, which is
the expected outcome, then it is expected that the composite table and general hole results comments,
are reasonably accurate.
1
Desert Gold news release data source Jan 17, 2022:
Desert Gold Reports Measured and Indicated
Mineral Resources of 310,300 ounces of Gold and Inferred Mineral Resources of 769,200 ounces of
Gold at SMSZ Project, West Mali
Figure 3. SMSZ Project Location and Major Deposits in Western Mali and Eastern Senegal (*
see deposit resources disclosures at end)
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Figure 4. SMSZ Property scale Summary and Zone location plan
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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. Technical Advisor for 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.
On Behalf of the Board
"Jared Scharf"
___________________________
Jared Scharf
President & Director
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
Contact
Jared Scharf, President and CEO
Email:
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.
* Figure 1 disclosure
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Table 1. Mogoyafara South Composite Assays - 2009-2010 Drill program
BHID
FROM (m)
TO (m)
LENGTH (m)
g/t Au
RCSP1300GR
119
142
23
1.2
RCSP1300GR
147
162
15
0.87
RCSP1300GR
166
175
9
1.38
RCSP1300GR
62
63
1
0.6
RCSP1300GR
32
33
1
0.39
RCSP1301GR
125
145
20
1.16