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
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
Delta, British Columbia--(Newsfile Corp. - January 17, 2022) -
Desert Gold Ventures Inc.
(TSXV:
DAU) (FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to announce initial, pit-constrained
Measured and Indicated Mineral Resources of 8.47 million tonnes grading 1.14 g/t Au totalling 310,300
ounces of gold and Inferred Mineral Resources of 20.7 million tonnes grading 1.16 g/t Au totalling
769,200 ounces of gold.
Desert Gold's initial Mineral Resource comprised pit constrained gold mineralization from five deposit
areas all lying within a 12km radius of each other (Figure 1). A summary of the initial resources is
presented below.
Table 1. Mineral Estimate Resource Summary
Resource Category
Tonnes
g/t Gold
Ounces
Measured
2,380,000
1.28
97,800
Indicated
6,090,000
1.08
212,600
Measured and
Indicated
8,470,000
1.14
310,300
Inferred
20,700,000
1.16
769,200
1. The effective date of the Mineral Resource Estimate is January 12, 2022.
2. Mineral Resources are reported in accordance with the CIM guidelines.
3. A marginal COG of 0.40 g/t Au for all material is applied.
4. Mineral Resources were estimated at a gold price of US$1,800/oz, mining cost including G&A at $11/t, mining costs ranging from $2.25 to
$2,75/tonne, process recoveries of 92% and slope angles from 45 to 50 degrees.
5. Figures have been rounded to an appropriate level of precision for the reporting of Mineral Resources.
6. Due to rounding, some columns or rows might not add up exactly as shown.
7. The Mineral Resources are stated as dry tonnes. All figures are in metric tonnes.
8. The in-situ ounces are in troy ounces.
Desert Gold's President & CEO Jared Scharf commented, "The publication of this initial Mineral
Resource is a significant milestone for the Company and represents a great starting point. We believe,
that with more drilling, the Company will be able to significantly expand on these resources and develop
new resource areas like the Gourbassi North West discovery. We expect a busy 2022 as we work
towards a 20,000 metre plus drill program with high expectations of the results."
Other News
The Company has completed its recently announced drill program over the exciting new discovery at
Gourbassi North West. 72 air core holes totalling 2,890 metres were completed along the 1.5km initial
projected strike extent. Assay results are expected to be released in the coming weeks.
Mineral Resource Technical Details
The Mineral Resources are derived from five deposit areas, all in the southern half of the property,
including, in order of size, Mogoyafara South, Barani East, Gourbassi West, Gourbassi East and
Linneguekoto West (see Figure 1 for locations). These combined resources comprise 2.38 million
tonnes at 1.28 g/t gold totalling 97,800 ounces of Measured Mineral Resources at Gourbassi West and
Barani, 6.09 million tonnes at 1.08 g/t gold totalling 212.600 ounces of Indicated Mineral Resources at
Gourbassi East, Gourbassi West and Barani and 20.7 million tonnes at 1.16 g/t gold totalling 769,200
ounces Inferred Mineral Resources. The deposit areas containing Measured and Indicated Mineral
Resources have been subject to confirmatory drilling by the Company to validate the interpreted zone
interpretations. A detailed summary of the deposit areas is presented in the Table 2.
Table 2. Mineral Resource Estimate Summary by Deposit
Mineral
Resource
Category
Project
Project Sub
Division
Tonnes (In Situ)
Gold Grade
Gold Content
Mt
g/t
kg
oz
Measured
Gourbassi
Gourbassi West
1.77
0.96
1,700
54,600
Barani East
Barani East
0.61
2.20
1,340
43,200
Total Measured
2.38
1.28
3,040
97,800
Indicated
Gourbassi
Gourbassi East
2.24
1.22
2,730
87,900
Gourbassi West
2.97
0.80
2,390
76,700
Barani East
Barani East
0.88
1.70
1,490
48,000
Total Indicated
6.09
1.08
6,600
212,600
Total M&I
8.47
1.14
9,650
310,300
Mineral Resource
Category
Project
Project Sub
Division
Tonnes (In Situ)
Gold Grade
Gold Content
Mt
g/t
kg
oz
Inferred
Mogoyafara
Mogoyafara South
12.29
1.05
12,840
412,800
Linnguekoto
Linnguekoto West
1.39
1.48
2,060
66,200
Gourbassi
Gourbassi East
1.88
1.37
2,570
82,800
Gourbassi West
2.44
0.94
2,280
73,400
Barani East
Barani East
1.01
1.62
1,650
52,900
Barani Gap
0.85
1.03
870
28,100
Keniegoulou
0.42
2.58
1,080
34,800
KE
0.42
1.35
560
18,100
Total Inferred
20.70
1.16
23,920
769,200
Mineral Resource Category
Tonnes (In Situ)
Gold Grade
Gold Content
Mt
g/t
kg
oz
Total M&I
8.47
1.14
9,650
310,330
Total Inferred
20.70
1.16
23,920
769,160
1. The effective date of the Mineral Resource Estimate is January 12, 2022.
2. Mineral Resources are reported in accordance with the CIM guidelines.
3. A marginal COG of 0.40 g/t Au for all material is applied.
4. Mineral Resources were estimated at a gold price of US$1,800/oz, mining cost including G&A at $11/t, mining costs ranging from $2.25 to
$2,75/tonne, process recoveries of 92% and slope angles from 45 to 50 degrees.
5. Figures have been rounded to an appropriate level of precision for the reporting of Mineral Resources.
6. Due to rounding, some columns or rows might not add up exactly as shown.
7. The Mineral Resources are stated as dry tonnes. All figures are in metric tonnes.
8. The in-situ ounces are in troy ounces.
These resource numbers have been further subdivided into oxide, transition and fresh, with the bulk of
the gold mineralization hosted in fresh rocks as per Table 3. Resource sensitivity to various grade cut-
offs is presented below in Table 4.
Table 3. Mineral Resource Estimate Summary by Weathering Category
Weathering
Zone
Resource
Category
Tonnes
(In Situ)
Gold
Grade
Gold Content
Mt
g/t
kg
oz
Oxide
Measured
1.99
1.32
2,630
84,700
Indicated
0.68
1.23
840
27,100
Oxide
M&I
2.67
1.30
3,480
111,800
Inferred
2.15
1.20
2,590
83,300
Transition
Measured
0.32
0.90
290
9,200
Indicated
0.75
0.92
690
22,100
M&I
1.06
0.91
970
31,300
Inferred
2.24
1.26
2,830
90,900
Fresh
Measured
0.07
1.79
120
3,900
Indicated
4.67
1.09
5,080
163,400
M&I
4.73
1.10
5,200
167,300
Inferred
16.30
1.14
18,500
595,000
Table 4. Mineral Resource Summary Sensitivity Table
Category
Cut-off grade
(g/t)
Tonnes (million)
Grade Au
(g/t)
Au (kg)
Au (oz)
Measured & Indicated
0.30
10.01
1.02
10,200
327,800
Measured & Indicated
0.40
8.47
1.14
9,650
310,300
Measured & Indicated
0.50
6.98
1.29
8,990
288,900
Measured & Indicated
0.75
4.62
1.64
7,570
243,400
Measured & Indicated
1.00
3.30
1.95
6,420
206,400
Category
Cut-off grade
(g/t)
Tonnes (million)
Grade Au
(g/t)
Au (kg)
Au (oz)
Inferred
0.30
22.63
1.09
24,610
791,300
Inferred
0.40
20.70
1.16
23,920
769,200
Inferred
0.50
18.28
1.25
22,830
734,100
Inferred
0.75
12.96
1.51
19,520
627,500
Inferred
1.00
8.68
1.82
15,800
508,100
Figure 1. Plan Map Mineral Deposits and Zones, significant drill hole intercepts*, soil geochem
summary on color-contoured analytical signal; magnetic data
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4954/110405_b330caebb429f979_001full.jpg
.
*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%.
Mogoyafara South
This deposit was acquired in 2021 as part of the Kolomba concession application, a contiguous claim at
the south end of the SMSZ property package. The Company's database included most of the work
completed over this zone by Hyundai, which was carried out in the early 2000's. Multiple gold-bearing
lenses have been discovered within an open-ended 1,900 metre by 1,300 metre area (see Figure 2).
The modelled deposit, based on 24,362 metres of drilling in 329 drill holes comprises 34, generally
shallow dipping, northeast- and northwest-trending, gold mineralized wire frames. Individual lenses
returned highlight 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).
The resource totals 12.29 million tonnes grading 1.05 g/t gold for 412,800 ounces of gold. Modelling
indicates that the zone is likely open to depth with additional lenses possible to the east and west.
This deposit, is hosted by, in order of abundance, quartzite, siltstone, conglomerate, felsic intrusions and
mafic intrusions. Desert Gold has validated the location of 54 of the drill collars. The Mogoyafara South
Zone lies just east of the interpreted location of the Senegal Mali Shear Zone. Anomalous rock samples
and gold-in termite samples show potential to extend the zone to the south for another 1,200 metres. As
well, gold-in-auger values shows the potential to extend the target area another 800 metres to the north.
Figure 2. Mogoyafara South modelled wire frames and resource pits
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4954/110405_b330caebb429f979_002full.jpg
.
Barani
The Barani East zones comprise the Barani East, Barani Gap and Keniegoulou (as a group, referred to
as Barani), which are all deemed to be part of one structural zone and the KE Zone, which lies to the
northwest of the Barani East Zone. The Barani Zone, shown below in Figure 3, which was wire framed,
was not added to the resource model due to uncertainties with the interpretation.
Resources for the Barani East Zone group comprise 0.61 million tonnes Measured Mineral Resource
grading 2.20 g/t gold totalling 43,200 ounces of gold, 0.88 million tonnes Indicated Mineral Resources
grading 1.70 g/t gold totalling 48,000 ounces of gold and 2.70 million tonnes Inferred Mineral Resources
grading 1.54 g/t gold totalling 133,900 ounces of gold.
The Barani East lenses are interpreted as a curved mineralized structural feature, which varies from
aligned semi-parallel to the Senegal Mali Shear Zone to parallel to a northeast-trending cross-structure.
Mineralization along this structure can be traced for approximately 2,500 metres along strike and
appears to be open both along strike and to depth. This group of deposits are hosted by a mixture of
sandstone, siltstone, limestone and locally dolerite. Some of the best mineralized intercepts on the
property, occur in the cross-cutting portion of the Barani East zone with intercepts to 6.28 g/t Au over 13
metres and 7.82 g/t Au over 13 metres.
The KE Zone lies on the western edge to the Barani area. It is a flat-lying, northerly-trending mineralized
series of gold-bearing lenses with a best drill intercept of 5.89 g/t gold over 6 metres (approximately 5.5
metres true width). The zone has been intersected for 450 metres along strike, from 20 to 70 metres
vertical depth and is locally 100 metres wide. It is open to both the north and the south. All drilling on this
gold system was carried out by Hyundai.
Figure 3. Barani East Area modelled wire frames and resource pits
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4954/110405_b330caebb429f979_003full.jpg
.
Gourbassi West
The Gourbassi West Deposit lies in the southwest corner of the SMSZ Property, just north of the
Senegal-Mali border, which is marked by the Faleme river. The concession that hosts this and the
Gourbassi East deposits was acquired in 2019 through the acquisition of Ashanti Gold. Since
acquisition, Desert Gold has developed a new mineralization model and tested the revised model with a
drill. The Gourbassi West deposit is a north-northwest trending to northly trending series of gold-bearing
lenses. The Gourbassi West Zone consists of 36, interpreted, lenses of gold mineralization that have
been traced for approximately 1,100 metres along strike (see Figure 4) and to 185 metres depth. It is
locally open along strike and is open to depth. It consists of Measured Mineral Resources of 1.77 million
tonnes grading 0.96 g/t gold totalling 54,600 ounces, Indicated Mineral Resources of 2.97 million tonnes
grading 0.80 g/t gold totalling 76,700 ounces of gold and Inferred Mineral Resources of 2.44 million
tonnes grading 0.94 g/t gold totalling 73,400 ounces of gold.
Drill holes have returned intercepts to 3.52 g/t gold over 33 metres (approximately 28 metres true width).
Thicker mineralized zones appear to plunge shallowly to the north. The mineralized lenses are hosted by
intermediate volcanic rocks, silicified hydrothermal breccias and quartz-rich sediments, immediately to
the east of a major, north-northeast trending, likely structural, geological contact. Hydrothermal breccias
are common in the Gourbassi West area and are often gold bearing. The hydrothermal breccias and
siliceous, chert-like units continue intermittently for at least 1,100 metres to the north of the Gourbassi
West Zone, where weak to moderate strength, gold-in-soil anomalies to 170 ppb gold, have been noted.
Induced polarization (IP) resistivity high anomalies correlate quite well with the mineralized zones, which
are generally silicified, sericitic and pyritic.
Figure 4. Gourbassi West Resource modelled wire frames and resource pit
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/4954/110405_b330caebb429f979_004full.jpg
.
Gourbassi East Zone
The Gourbassi East Zone (see figure 1 for location) consists of at least seven, north-northwest trending
lenses of gold mineralization up to 37 metres wide, that have been traced for approximately 800 metres
along strike to 250 metres depth (see Figure 5). One of the deeper holes returned 7.49 g/t gold over 11
metres (true width approximately 6 metres). This zone is dominantly hosted by pyritic, quartz-veined,
sericitic, high titanium, intermediate composition volcanic rocks. It consists of Indicated Mineral
Resources of 2.24 million tonnes grading 1.22 g/t gold totalling 87,900 ounces of gold and Inferred
Mineral Resources of 1.88 million tonnes grading 1.37 g/t gold totalling 82,800 ounces of gold.
Felsic volcanics have been noted in the area, but, their relationship with the mineralized zones is
uncertain. Magnetic and mapping data, indicates that the thickest part of the gold zone lies near a
northerly-trending, shear zone contact with a northwesterly-trending magnetite iron formation. Induced
polarization resistivity high anomalies, correlate quite well with the trend of the gold mineralized lenses.
Figure 5. Gourbassi East modelled wire frames and resource pit
To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/4954/110405_b330caebb429f979_005full.jpg
.
Linnguekoto West
The Linnguekoto West Deposit lies on the Kolomba concession near the southern part of the SMSZ
property.
The northwest-trending Linnguekoto West Zone lies immediately east of a northeast-trending mafic dyke
that is related to the Barani East gold zone. 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 6) 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.