Desert Gold Presents Exploration Upside Over the Open-ended, 413,000 Ounce, Inferred Mineral Resource* Mogoyafara South Gold Deposit, SMSZ Project, Western Mali SMSZ Project Hosts Measured and Indicated Mineral Resources 310,300 ounces of Gold and
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For Immediate Release
TSX.V: DAU
Frankfurt: QXR2
OTCQB: DAUGF
Desert Gold Presents Exploration Upside Over the Open-ended, 413,000 Ounce, Inferred
Mineral Resource* Mogoyafara South Gold Deposit, SMSZ Project, Western Mali
SMSZ Project Hosts Measured and Indicated Mineral Resources 310,300 ounces of Gold and
Inferred Mineral Resources of 769,200 ounces of Gold*
Delta, British Columbia, March 3 , 2022 Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FSE: QXR2,
OTCQB: DAUGF) is pleased to present further insights at its Mogoyafara South Gold Deposit in Western Mali, following
completion of a ground magnetic survey and geological mapping.
In early 2022, Desert Gold carried out a ground magnetic survey over the Mogoyafara South G old Deposit. This work
demonstrated a strong correlation between known gold intercepts and magnetic highs (see Figure 1). From this image, it is
obvious that, within the deposit area, there is at least five magnetic high areas that appear to have good potential for the
discovery of additional gold mineralization.
Following these positive results, after a much larger area was surveyed, the prospective magnetic high target was extended
to the north and south (see Figure 2). Based on the magnetic data, the magnetically anomalous trend, aligned along what is
interpreted as the Senegal Mali Shear Zone or proximal structure, can now be traced for approximately 5,000 metres from
an original strike extent of 1,900 metres. This materially expands the higher priority exploration target area. At the northern
end of the anomalous trend, soil samples returned up to 1,252 ppb gold, proximal to the magnetic high target trend.
As well, based on mapping and data compilation, a new, 200 metre long, artisanal mining pit was discovered near the
western edge of the claim block in a magnetic low area. This new artisanal zone has never been tested by drilling and is
associated with a 1.4 km long gold-in-soil trend with values to 320 ppb gold and prospecting grab samples to 2.26 g/t gold.
Additional prospecting samples grading to 6.61 g/t gold, and additional anomalous gold- in soil values were identified to
the south of the drilled area and highly anomalous gold- in-soil and gold- in-termite anomalies were noted along a strong
magnetic high anomaly in the eastern side of the survey area. These areas show good potential for the discovery of
additional gold zones.
Jared Scharf, Desert Gold’ s Present and CEO commented “We are quite pleased with the results of the magnetic survey.
In addition to the fantastic correlation between the magnetic highs and mineralized intercepts, the magnetic data provides
insight into structure and context for other targets. It is also interesting to see that gold mineralization occurs in multiple
target environments i n the Mogoyafara South area , which should result in extensions to know n zones, discovery of new
gold-bearing lenses and, as we believe, the delineation of additional mineral resources.”
* NI 43-101 Mineral Resource reported by a Desert Gold January 17, 2022 news release
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Figure 1. Mogoyafara South Deposit area detail view.
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Figure 2. Large scale review of Mogoyafara South Deposit Target Area
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Technical details
The Company completed approximately 180-line kilometres of walking magnetometer survey with lines every 100 metres
and readings taken continuously as the operator followed flagged lines through light bush and grassy areas. Daily magnetic
readings were then corrected for diurnal variation at the end of the day using data from a base station. Upon completion of
the survey, the data will be subject to inversion to create a 3D image of the magnetic data to depth. This 3D data will be
utilized in the ongoing exploration program with a goal to develop an exploration model using the inversion data and then
use that model for focussed exploration.
The positive correlation between the gold intercepts and magnetic highs is not common, as gold- related alteration is often
related to magnetic lows as the alteration destroys the magnetic minerals. However, gold mineralization is related to
pyrrhotite, which is magnetic, at Desert Gold’s Barani East Deposit and magnetite occurs in ore at both the large Fekola
(B2 Gold) and Gounkoto (Barrick) Mines, located to the south, along the Senegal Mali Shear Zone. The presence of
pyrrhotite may represent a hotter hydrothermal system. However, the source of the stronger magnetism is not known at this
time and will be determined once drill testing of this area commences.
Next Steps Guidance
A 2022 exploration program consisting of approximately 20,000 metres of drilling will be carried out subject to financing
with a general work plan as follows.
The tier 1 Mogoyafara South and Gourbassi West North Zones, will be the focus of the 2022 exploration program as these
two gold -bearing systems appear to be the largest on the property. Together, these two project areas w ill account for
approximately 70% of the 2022 drill program with the remainder of the 2022 drill budget designed to follow-up on known
zones and drill intercepts at 11, tier 2 targets ( Linneguekoto West, Manankoto, Kamana, Soa, Kolon, Sorokoto North,
Barani East, Frikidi, Gourbassi West, Gourbassi East and Gourbassi Northeast Zones – see figure 3 for zone lcaitons). The
goal of testing these targets is to determine if these zones have potential to develop into tier 1 targets.
Untested gold-in-auger anomalies (tier 3 targets) have been prioritized and will be tested with a focus on anomalies >100
ppb gold.
Additional auger surveys (tier 4 targets) are planned in the Gourbassi West North, Mogoyafara South and Linnguekoto
South areas.
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Figure 3. Plan Map Mineral Deposits and Zones, significant drill hole inter cepts**, soil geochem summary on color -
contoured analytical signal; magnetic data
**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%.
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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) and its Rutare gold project in central Rwanda. In Mali, Desert Gold’s SMSZ
property hosts 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 Resource s, the degree to which factors which would make a mineral
deposit commercially viable, and the risk s 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 of fered 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: [email protected]
Tel. No.: +1 (858) 247-8195