Desert Gold Commences 3,750 Meter Phase 2 Exploration Drill Program, SMSZ Project, Mali
Desert Gold Commences 3,750 Meter Phase 2
Exploration Drill Program, SMSZ Project, Mali
Surrey, British Columbia--(Newsfile Corp. - May 14, 2024) -
Desert Gold Ventures Inc.
(TSXV: DAU)
(FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to announce the initiation of the second
phase of it 2024 drill program. A total of 3,750 meters of exploration drilling is planned on its SMSZ
Project in Mali, West Africa (see Figure 1 for reginal setting).
Company CEO, Jared Scharf, commented, "Desert Gold continues to advance the SMSZ project, both
through an ongoing PEA study of the oxide gold resources at 2 deposits and continued exploration,
proximal to the oxide gold zones. This second phase program will test for extensions to two resource
gold zones, a previously drilled gold occurrence and two high priority Au-in- auger anomaly areas. We
strongly believe that this work will result in extensions to the Mogoyafara South zone, additional potential
oxide gold resources at Barani East and the discovery of new gold zones at three exploration target
areas."
Technical Details of Phase 2 Drill Program
The company plans to drill test for extensions of the gold mineralization at Mogoyafara South, Barani
East and Soa Zones (see Table below). Mineral resources have been estimated at Mogoyafara South
and Barani East.
Target
(see Figure 2 for zone
locations)
# of holes
Meters
planned
Target Highlights
Mogoyafara South
8
925
Extend known 12.39 million tonnes gold resource containing 412,800 ounces*.
Specific targets include:
50 m in from of 1.14 g/t Au /12 m
100 m east of 1.18 g/t Au /46 m and 125 m east of 2.04 g/t Au /41 m
50 m east of 1.62 g/t Au /15 m
125 m east of 0.92 g/t Au/34 m
-50 m below 2.92 g/t Au/7 m
Barani East
15
750
Extend oxide gold resources to south
Frikidi
9
450
Test 8,650, 462 and 440 ppb Au-in-auger anomalies (
see picture
below of gold
panned from 8,650 ppb Au site)
Soa area
12
725
Follow-up on 2.04 g/t Au over 30 meres**
Keniegoulou
3
150
Test 1,527 ppb gold-in-auger***, proximal to a km-long tourmaline alteration zone
and area of structural rotation
Technical Study Update (The "PEA")
Core sampling is in progress. Samples of ¼ cut core will be sent to SGS in Bamako for gold analysis to
determine the limits of the gold zones at Barani East, Gourbassi West and Gourbassi West North. Once
the gold zones have been defined, the remaining ¾ cut core will be sent to Maelgwyn South Africa to
model the heap leach gold recoveries by zone. This information will form a key part of the ongoing
Preliminary Economic Assessment study of the oxide gold resources at Barani East and Gourbassi
West.
Barani East and Barani Gap Deposits
Oxide and transition mineral resources at Barani East and Barani Gap comprise measured and
indicated mineral resources of 53,700
*
ozs Au grading 2.09 g/t Au and inferred mineral resources of
40,700
*
ounces grading 1.33 g/t Au (see Figure 2 for location).
At Barani East, in 2014, 2-tonne metallurgical sample of oxide mineralization, ground to 80% passing 70
micron grading 2.74 g/t Au, was first subjected to a 21.6% mass pull spiral concentrate and then an
intense leach combined with normal leaching of the tails over 24 hours, recovered 78.7% of the gold*.
The Barani East oxide and transition resources lie above the Barani East deposit which contains fresh
rock measured and indicated mineral resource totaling 37,500 ounces grading 1.78 g/t Au and an
additional inferred mineral resource of 33,700 ozs grading 1.66 g/t Au*.
Bottle roll leach tests of the fresh rock Barani East gold mineralization, ground to 85% passing 75
microns and leaching over 72 hours suggest gold recoveries ranging from 83% to 98.7%*. This data
suggest that fresh rock gold mineralization may also be heap leachable.
Gourbassi West Deposit
Oxide and transition mineral resources at Gourbassi West comprises measured and indicated mineral
resources of 77,200
*
ozs Au grading 0.93 g/t Au and inferred mineral resources of 14,600
*
ounces
grading 0.91 g/t Au (see Figure 2 for location).
Three samples of oxide gold mineralization, grading 0.33, 0.67 and 1.05 g/t Au, were ground to 80%
passing 100 microns and subject to a 48-hour bottle roll cyanide leach. Gold recoveries of 92.4%, 94.3%
and 94.2%, respectively, were attained with most of the gold recovered in 24 hours.
Gourbassi West North Deposit
The 1.6 km long Gourbassi West North Deposit lies 500 metres north of the Gourbassi West Deposit
(Figure 2). The upper 25-30 metres of this deposit is oxidized and is expected, as per other oxide gold
zones on the property and region, to have gold recoveries in excess of 90%. A mineral resource
estimate of this zone will be carried out and, if deemed material, this zone will be considered as potential
feed for a heap leach component of the PEA.
Exploration - Core Drilling
Four core holes were completed at the Mogoyafara South and Frikidi Zones. Assays for these holes are
pending.
* Desert Gold NI 43-101 compliant mineral resource report filed on March 3, 2022 and available on Sedar+.
** Desert Gold news release March 25, 2019.
*** Desert Gold news release October 1, 2019.
**** Desert Gold new release February 24, 2020.
Figure 1 - SMSZ Project Location and Major Deposits in Western Mali and Eastern Senegal (*
see deposit resources disclosures at end)
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4954/208984_11d6ef90848c0b83_004full.jpg
Figure 2. SMSZ Property scale Summary and Zone location plan
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/4954/208984_11d6ef90848c0b83_005full.jpg
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.
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:
Tel. No.: +1 (858) 247-8195
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
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4954/208984_notes.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/208984