Desert Gold Completes Exploration Core Drilling at Mogoyafara South and Frikidi Gold Zones; SMSZ Project, Western Mali
Desert Gold Completes Exploration Core
Drilling at Mogoyafara South and Frikidi Gold
Zones; SMSZ Project, Western Mali
Surrey, British Columbia--(Newsfile Corp. - April 4, 2024) -
Desert Gold Ventures Inc.
(TSXV: DAU)
(FSE: QXR2) (OTCQB: DAUGF) ("Desert Gold" or "the Company") announces that it has completed
four additional exploration core holes to test specific targets at its Mogoyarfara South gold deposit and
Frikjdi zone.
Desert Gold's CEO, Jared Scharf, commented, "Thanks to the support of our shareholders, we were
able to take advantage of the core drill that was on site for our PEA to drill four additional, high priority
exploration core holes. These holes were designed to answer specific geological questions. We are
very encouraged by what we see in the core and look forward to the assay results."
Four holes totaling 729 meters, were completed over the Mogoyafara South Deposit (two holes) and
Frikidi Zone (two holes). Please see Table 1 for hole collar details and Figure 1, at end, for general zone
locations.
The Mogoyafara South deposit contains open pit constrained inferred mineral resources 412,800
ounces* of gold grading 1.05 g/t Au making it the largest known gold deposit on the SMSZ Project to
date. This deposit is open along strike and to depth and lies within a 2 km by 3 km area of structural
rotation, which is a feature deemed positive for the gold deposition in most structurally-related gold
camps. Two angled core holes, 252 meters and 287 meters deep, 100 meters apart, were drilled into an
area where modeling suggested multiple stacked lenses of gold mineralization. Both holes intersected
potentially gold-mineralized, silicified, sericitized and albitized siltstones, sandstones and
conglomerates that are cut by occasional mafic and felsic dykes. One of the holes was designed to
cross an intercept that returned 1.62 g/t Au over 11 meters (estimated true width). The 2
nd
drill hole
represents an 80 m down-dip step out from a historic intercept of 1.22 g/t Au over 41 meters (estimated
true width). Additional details will be presented once assay results have been received and analyzed.
Sampling at the Frikidi gold target returned 61 rock samples containing more than 5 g/t Au, five of which
returned 100 g/t Au or greater**. Frikidi represents an area of numerous artisanal mine workings within a
5 km by 2.5 km, northwest-trending, cross-cutting, magnetic high area. Hole FAW-24-DD-001, a portion
of which is presented below (Image 1), was drilled to test for shallow-dipping mineralized structures that
were observed in the artisanal mine shafts. The quartz-veined portions of the core shown below,
intersected from 23.9 meters to 39.0 meters, is consistent with gold-bearing rock grab samples that
were collected on surface. The second hole was drilled to validate a historic drill intercept of 1.07 g/t Au
over 26 meters (true width unknown), which may represent a new mineralized trend. Assays are pending.
Image 1.
Core photos hole FAW-24-DD-001
Image 1.
Silicified, sulphidized and potassically altered sandstone from the Frikidi Zone.
Sampling in
progress. The hole ended at 50 m depth.
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Table 1.
Drill Hole Collar Details
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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 and a Qualified Person under National Instrument 43-101, has
reviewed and approved the scientific and technical information contained in this press release.
* Desert Gold news releases January 17, 2022 and March 3, 2022
** Desert Gold news release March 25, 2019
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 km2
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.sedarplus.ca
under the company's profile. Website:
www.desertgold.ca
.
CONTACT
Jared Scharf, President & CEO
Email:
This news release contains forward-looking statements respecting the Company's ability to
successfully complete the Offering. 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, including the inability of the Company to successfully complete the Offering. These
uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of
gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are
reflective of actual mineral resources; and the degree to which factors which would make a mineral
deposit commercially viable are present; 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.sedarplus.ca
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.
Property Compilation Map
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