New 2,680 ppb Gold-in-Auger Value Highlights Additional Potential for Expansion of Desert Gold's Mogoyafara South Gold Deposit in Western Mali
New 2,680 ppb Gold-in-Auger Value Highlights
Additional Potential for Expansion of Desert
Gold's Mogoyafara South Gold Deposit in
Western Mali
Delta, British Columbia--(Newsfile Corp. - April 25, 2023) -
Desert Gold Ventures Inc.
(TSXV: DAU)
(FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to present new gold-in-auger exploration
targets on its SMSZ Project. The untested auger anomalies lie under shallow laterite cover proximal to
the Company's 413,000 ounce Mogoyafara South gold deposit (see Jan. 17, 2022 Desert Gold news
release).
Desert Gold's 440 km
2
SMSZ Project is both named after and overlies a 43 km section of the prolific
Senegal Mali Shear Zone (the "SMSZ"). The SMSZ is related to seven gold deposits located both to the
north and south, along strike of the Company's SMSZ Project, including B2 Gold's Fekola Mine,
Barrick's Gounkoto and Loulo Mines and Allied Gold's Sadiola and Yatela Mines. 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).
In February, 2023, Desert Gold completed 445 auger holes totalling 2,067 metres over the Mogoyafara
South Deposit area and the Kousilli West concession in the northwesternmost portion of the property
(see Figure 4 for locations). All gold-in-auger values in excess of 50 ppb are considered anomalous with
gold-in auger values in excess of 100 ppb, considered high priority.
This program resulted in the
discovery of an exceptional auger hole that returned a gold value of 2,680 ppb within a 100-
metre-wide area of anomalous gold-in-auger values.
These anomalous auger values lie along trend
of an approximate 1,000 m long north-northwest trend of gold-in-soil values linking up with the
westernmost lens of the Mogoyafara South Deposit. This highlight gold-in-auger anomaly lies about 800
metres south of the limits of the 413,000-ounce Mogoyafara South Deposit (see Figure 1).
An
additional trend of strong, gold-in-auger anomalies, to 569 ppb gold
, were returned on three auger
lines, with the first anomaly approximately 200 metres east of the northern portion of the Deposit to 800
metres north of the Deposit area. This approximately 1 km long anomalous trend lies along the
interpreted location of the Mali Senegal Shear Zone. A third anomalous, 800-metre-long trend, with gold-
in-auger values to 121 ppb, is developing along a prominent northeast-trending magnetic feature located
approximately 1.2 km southwest of the Mogoyafara South Deposit. A fourth, strong,
395 ppb gold-in-
auger
intercept lies approximately 1,300 metres southwest of the Deposit. An additional eight
anomalous gold-in-auger values in excess of 50 ppb were returned from the Mogoyafara South Deposit
area during this most recent program.
Two long and three short lines of auger drilling were completed over the Kousilli West concession to
cover part of a 9 km long, anomalous gold-in-soil trend (see Figure 2).
The best auger results were
returned from the northern most line with values to 250 ppm gold
with five of seven drill sites,
across a 150 m wide area, returning >50 ppb gold values. Five additional, widely spaced sites returned
>50 ppb gold.
Jared Scharf, President and CEO Desert Gold Ventures commented "As expected, the new auger
results support our belief that there is significant potential for the discovery of new lenses of gold
mineralization near the Mogoyafara South Deposit and along trend, north of the Gourbassi West North
Zone. This target model has worked to great effect at the SMSZ project as evidenced by the testing of
slightly weaker gold-in-auger anomalies that resulted in the discovery of several new gold zones
including the Gourbassi West North Zone with intercepts to 1.08 g/t gold over 124 metres. Next steps will
be to follow up with drilling on these new high priority auger targets as soon as possible."
Anomalous Trends
Figure 1. Plan of auger drilling highlights near the Mogoyafara South Deposit
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Figure 2. Plan of auger drilling highlights in the Kousilli West area
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Figure 3. SMSZ Project Location and Major Deposits in Western Mali and Eastern Senegal (* see
deposit resources disclosures at end)
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Figure 4. SMSZ Property scale Summary and Zone location plan
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Next Steps
Drill testing of these new gold-in-auger anomalies and other, previously proposed drill targets will be
carried out as soon as possible.
QAQC
All auger samples are delivered to SGS in Bamako, Mali where they are prepped, pulverized and
subjected to fire assay analysis. Standards, assay blanks or sample duplicates, are inserted into the
assay stream every 20 samples. All assay batches are reviewed for quality with re-assays requested for
standards that assay more than 2 to 3 SD from an excepted value and for blanks that contain more than
10 ppb gold.
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
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