Desert Gold Completes Acquisition of Kolomba License Acquiring Two Strategically Important Gold Zones with Highlighted Drill Intercepts to 7.78 g/t Gold over 19 Metres* and 2.04 g/t Gold over 41 Metres**, SMSZ Project; Mali, West Africa
Desert Gold Completes Acquisition of
Kolomba License Acquiring Two Strategically
Important Gold Zones with Highlighted Drill
Intercepts to 7.78 g/t Gold over 19 Metres* and
2.04 g/t Gold over 41 Metres**, SMSZ Project;
Mali, West Africa
Delta, British Columbia--(Newsfile Corp. - November 4, 2021) -
Desert Gold Ventures Inc.
(TSXV:
DAU) (FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to announce that, further to its press
release dated September 2, 2021, the Company has received its arreté for the 30.6 km
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Kolomba
Exploration Permit which is contiguous to the Company's SMSZ Project. The issuance of the Kolomba
arreté constitutes the final step in the ratification of the Company's mineral exploration rights to the
property. Under the terms of the Kolomba arreté the Company retains all mineral exploration rights for 3
years from the data of issuance (November 1, 2021) and has the right to renew the license for two
additional two-year periods effectively securing the Company's exploration rights until November 1,
2028.
The Kolomba acquisition is highlighted by two significant gold zones which have seen ~31,000 metres of
combined historical drilling circa 1999 - 2003.
Both zones are open to depth and along strike and
returned some of the best drill results on the SMSZ Project in terms of grade over width. Modelling of
these zones is underway with drill testing projected to commence in early Q1, 2022 concurrently with
geological mapping, IP and magnetic geophysical surveys.
These zones will be a major focus for the Company's 2022 drill campaign and have the potential to
significantly add to its resource base in the near term.
A summary of the historical drill highlights are as follows (see Figures 1 and 2 for more detail):
Zone 1 -
Mogoyafara South*
20.87 g/t gold over 6 metres
(estimated true width unknown)
29.80 g/t gold over 1 metre
(estimated true width unknown)
2.04 g/t gold over 41 metres
(35 metres estimated true width)
2.15 g/t gold over 29 metres
(25 metres estimated true width)
2.64 g/t gold over 20 metres
(18 metres estimated true width)
1.40 g/t gold over 55 metres
(40 metres estimated true width)
1.22 g/t gold over 41 metres
(41 metres estimated true width)
Zone 2 -
Linnguekoto West**
16.03 g/t gold over 7 metres
(4.0 metres estimated true width)
7.78 g/t gold over 19 metres
(4.6 metres estimated true width)
3.51 g/t gold over 29 metres
(8.0 metres estimated true width)
2.84 g/t gold over 14 metres
(5.7 metres estimated true width)
2.62 g/t gold over 15 metres
(14.0 metres estimated true width)
Desert Gold's President & CEO Jared Scharf commented, "Acquiring Kolomba and the 31,000 metres
of historic drilling for effectively the cost of an application is a huge win for our shareholders. The gold
zones on Kolomba are some of the most prospective of any we've seen in the belt. Given their strategic
location, for example being less than 20 kilometers away from our recent Gourbassi West discovery, the
Kolomba permit will be a major focus of our upcoming 2022 drill campaign."
Figure 1. Plan Map Mogoyafara South Deposit
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4954/101928_8f9689f3c4da29a9_001full.jpg
Figure 2. Plan Map Linnguekoto West Deposit
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4954/101928_8f9689f3c4da29a9_002full.jpg
Kolomba Technical Details
The bulk of the historic work on the Kolomba concession was carried out by Hyundai during the period
from 1998 to 2003. Little to no exploration was carried out over the property since 2003. Hyundai's work,
which was substantial, included 30,894 metres of drilling in 407 holes with 328 and 78 holes completed
over the Mogoyafara South and Linnguekoto West zones, respectively. Desert Gold has a copy of the
drill database along with Au-in-soil results covering the entire concession.
Mogoyafara South*
The northwest-trending Mogoyafara South Zone lies just east of the interpreted location of the Senegal
Mali Shear Zone (see Figures 1 and 4). Multiple gold-bearing lenses have been discovered within an
open-ended 1,900 metre by 1,300 metre area (see Figure 1). Initial modelling indicates the presence of
up to 56, shallow to moderate east-dipping, gold-bearing lenses with individual lenses returning
highlighted intercepts of 2.15 g/t Au over 29 metres (estimated true width 25 metres), 2.04 g/t Au over 41
metres (estimated true width of 35 metres) and 1.40 g/t Au over 55 metres (estimated true width of 40
metres). Higher grade intercepts include 20.87 g/t Au over 6 metres (true width is unknown due to lack of
data). Previous work, predominantly by Hyundai, comprised 24,362 metres in 329 holes. Anomalous
rock samples and gold-in termite samples show potential to extend the zone to the south for another
1,200 metres.
As with the Linnguekoto West Zone, Desert Gold has a complete exploration database but does not
have access to drill core/RC chips and the original assay certificates. However, the Company has
validated the location of several holes in the field and have high confidence in the quality of the historic
exploration data.
Linnguekoto West**
The northwest-trending Linnguekoto West zone lies immediately east of a northeast-trending mafic dyke
that is related to the Barani East gold zone (see Figure 4). This dyke is believed to occupy a shear zone
that is locally gold-bearing that can be traced for approximately 25 kilometres as it passes through the
property. Previous exploration at Linnguekoto West comprised 78 holes totalling 6,532 metres. This
northeast-trending zone can be traced for 500 metres along strike (see Figure 2) with the deepest holes
intersecting gold mineralization to approximately 140 metres vertical. Gold mineralization remains open
to depth and along strike. Best fit modelling suggests a steep west dipping, generally higher grade, 1.5
to 7 metre wide gold bearing lens, that is both cut by and related to, up to six, shallow-east-dipping
subordinate gold-bearing lenses with grades to 2.62 over 15 metres (estimated 14 metres true width).
The steeply dipping lens has returned highlighted grades to 16.07 g/t Au over 7 metres (estimated true
width of 4.0 metres), 7.78 g/t Au over 19 metres (estimated true width 4.9 metres) and 3.51 g/t Au over
29 metres (estimated true width of 8 metres).
While the Company has a complete drill database and have validated the location of several drill holes in
the field, the location of the core/RC chips and original assay certificates is unknown. However, from the
Company's follow-up of other exploration prospects that Hyundai has worked on such as Barani East,
the Company has high confidence in the quality and accuracy of the drill dataset. That said, drilling to
validate the grades and interpretation of the interpreted gold-bearing lenses will still be required.
About the SMSZ Project
The 440 km
2
SMSZ Project is both named after and overlies a 43 km long section of the Senegal Mali
Shear Zone (the "SMSZ"). The SMSZ is related to 5 large mines located both to the north and south,
along strike, including B2 Gold's Fekola Mine, Barrick's Gounkoto and Loulo Mines and Allied Gold's
Sadiola and Yatela Mines
1
. To the Company's knowledge, the SMSZ Project is the largest, contiguous,
non-producer land package over this highly prospective structural feature (see Figure 3). The Company's
goal is to discover a tier 1 gold deposit associated with the regional-scale, gold-bearing structural zones
that pass through the SMSZ Project. Exploration at the SMSZ Project has discovered in excess of 24
gold zones with 2021 exploration data strongly suggesting that more will be discovered.
QAQC
There is no QAQC data or assay certificates for the historic fire assays for the Linnguekoto West and
Mogoyafara Zones and as such, until validated, may not be relied on with 100% certainty. However, from
follow-up exploration carried out to date, the correlation between historic gold values and subsequent
validation work, have generally been within acceptable parameters. Drill assay grade widths, presented
on both surface plans and cross-sections, represent the drilled lengths with estimated true widths
ranging from 10% to 90%, based on a not yet validated mineralization model. In a few cases, there is not
enough information to estimate true width. As work progresses on the zones the mineralization models
will be either validated or adjusted with more certain guidance presented at that time.
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 & CEO
About Desert Gold
Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold
exploration permits in Western Mali (SMSZ Project and Djimbala). 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 3. SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and
Eastern Senegal
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4954/101928_8f9689f3c4da29a9_003full.jpg
Figure 4. Property-scale summary map - New Kolomba Concession Outlined in Red
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/4954/101928_8f9689f3c4da29a9_004full.jpg
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Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company's SMSZ
Property.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/101928