Delta, British Columbia--(Newsfile Corp. - June 1, 2021) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to present new gold-in-auger and gold-in-soil exploration targets on its SMSZ Project. The untested auger anomalies lie both under shallow laterite cover proximal to the projected location of the regional scale Main Transcurrent Shear Zone, along the western portion of the property package.
The Company's 2021 exploration program is now more than 75% completed on its flagship Senegal Mali Shear Zone project in Western Mali (the "SMSZ Project"). The 410 km2 SMSZ Project is both named after and overlies a 38 km section of the prolific Senegal Mali Shear Zone (the "SMSZ"). The SMSZ is related to 5 large mines 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 Mines1. To the Company's knowledge, the SMSZ Project is the largest, contiguous, non-producer land package over this highly prospective structural feature (see Figure 1).
Field work recommenced at the SMSZ Project in early December, 2020. The goal of the exploration program is to develop/discover a stand-alone Tier 1 gold deposit(s). Exploration comprises of drilling to advance known gold zones and soil, auger and IP surveys to identify new targets, with real-time follow-up of drill testing of newly developed targets. The SMSZ exploration program is fully underway with one multipurpose drill and a geological mapping team.
Highlights - (see Figure 2)
- Strong gold-in-auger anomaly discovered north, along trend, of the Gourbassi West Deposit with auger values of 1,937, 1,736, 581, 570 and 460 ppb gold, on three separate, 500 metre-spaced lines.
• northernmost gold-in-auger anomaly, located 1.8 km north of the Gourbassi West Deposit.
• Combined with the Gourbassi West deposit, the zone of high perspectivity is now 3 km long.
- Seven new gold-in-soil anomalies, up to 2.4 km long, have been discovered to the north of the Gourbassi West Zone.
• Gold-in-soil values range up to 9,394 ppb gold.
- New gold zone discovered with a grab sample returning 8.95 g/t gold.
• Associated with new 800 m long, northwest-trending, gold-in-soil anomaly trend.
Jared Scharf, President and CEO Desert Gold Ventures commented, "The new auger results north of Gourbassi West are very exciting, and if confirmed by drilling, could more than double the strike length of the existing deposit. To date, Gourbassi West has yielded some of the best drill results on the property with intercepts as high as 3.52 grams per ton gold over 33 metres demonstrating the potential for a strong gold system along this geological feature. First pass drill testing over the best auger anomalies along this highly prospective trend will begin in the month of June, weather and drill rig availability permitting."
Figure 1 - SMSZ Project Location and Major Deposits in Western Mali and Eastern Senegal
To view an enhanced version of Figure 1, please visit:
Figure 2 - Summarized gold-in-auger and gold-in-soil results
To view an enhanced version of Figure 2, please visit:
Technical data - Gold-in-auger and gold-in-soil results
Summary results from 64 auger holes and 6,028 soil samples are presented in this release (see Figure 3). All of the samples were collected over the two westernmost concessions of the SMSZ Project.
Three, 500 to 550 metre long lines of 25-metre spaced auger holes, on lines 500 metres apart, were completed along the projected northern strike extent of the Gourbassi West Zone, in an area of weak soil anomalies and thin (3-5 metres at anomalous sample sites) laterite cover. Highly anomalous gold-in-auger values of 1,937, 1,736 and 460 ppb gold, were returned on three separate lines with northernmost gold-in-auger anomaly, located 1.8 km north of the modelled Gourbassi West Deposit. In addition to these anomalous high points, auger data indicates weak to strongly anomalous gold values, in adjacent holes. These anomalies will be tested during the current program and, due to their highly anomalous values and location along trend, demonstrate good potential to extend the Gourbassi West Gold zone to the north.
A total of 6,028 soil samples were collected over three areas to the north and west of the Gourbassi gold zones. These areas, to the best of the Companies' knowledge, never been systematically explored. While collecting the samples, several new artisanal mining areas were discovered, one of which, returned a gold value of 8.95 g/t gold, from a grab sample. As well, new gold-in-soil results indicate seven new trends of anomalous gold in soils with the longest trend extending for approximately 2.4 km and the best gold-in-soil value returning 9,384 ppb gold. The interpreted gold anomalies appear to be aligned along northerly and northwesterly trends, which is consistent to the airborne tilt-angle magnetic data. Mapping of the area indicates a mix if sandstone/greywacke, ironstones, hydrothermal breccias and large areas of thin to thick laterite cover. Auger drilling may be required to validate the soil anomalies in laterite-covered areas.
Also highlighted in Figure 2, are two, northwest-trending, gold-in soil trends, located north of the Gourbassi East Deposit. With the success of using auger surveys to the north of the Gourbassi West Deposit, it is expected that a similar auger program, followed by testing of the gold-in-auger anomalies, with AC holes, would be worthwhile.
Exploration Progress to May 28, 2021
- Drilling - 59% complete. Drilling pace has again picked up after a series of breakdowns with 11,788 metres drilled to date.
- A 2nd AC drill rig is due to arrive on site in June to speed up the drill program and follow up on new auger targets.
- Assay turnaround has increased from 3 to 8 weeks due to high sample volumes at the lab.
- 9,764 sample assays pending
- 4,724 metres AC, 5,513 metres RC, 1,551 metres of DD/RCD completed
- The 2021 drill holes are designed to follow-up on Gourbassi West, Gourbassi East and Barani East Zones, to continue to trace gold mineralization from Barani East northeast to Soa and south to Keniegoulou, follow up drill testing at Gourbassi NE, Goubassi SE, Berola, Frikidi, KE, Komana and Manakoto zones and to test newly developed gold-in-auger targets.
- Auger Drilling - 107 % complete
- Testing for gold mineralization along thinly-covered laterite, and/or, not yet evaluated, regional scale structures.
- 21,111 metres drilling in 2,262 holes completed.
- Program deemed very successful with more metres drilled than originally planned.
- Assays for 1,070 auger samples pending.
- IP Geophysical Surveys - 121% complete
- 90.8-line kilometres completed.
- Historic and new IP data have been merged with new targets identified.
- Historic drilling and shows over 90% correlation to IP targets.
- Soil Sampling - 110 % complete with 7,703 samples collected
- Tested 3 areas comprising ~100 km2, that had not been soil sampled, mapped or drilled.
- Program deemed a success as several new areas of gold anomalism were discovered including a new 2.4 km gold trend and a best gold-in-soil value returning 9,384 ppb gold.
- Mapping and prospecting ongoing
- Underway with approximately 45% of the property still requiring mapping and prospecting.
- Community Support Program in progress
- Medical and school supplies to be donated to 9 communities in the SMSZ Project region.
- Complete a 43-101 compliant report in Q4, 2021
Approximately 170 additional air core drill holes, totaling 8,500 metres have been proposed to test most of the new auger anomalies. Drilling to test these targets will be carried out in due course as part of the current 20,000 metre drill program and likely future programs. Currently, 21,630 metres of drilling are planned and proposed. It is expected that this number will increase as more results come in. Drill results are still pending for the Gourbassi West and East Zones, Barani East, Barani Gap and the newly discovered Sorokoto prospect.
All auger samples are delivered to SGS in Bamako, Mali where they are prepped. The prepped samples, were then shipped by truck to SGS's facility in Ouagadougou, Burkina Faso for Au determination by 24 hours CN bottle roll leach. Standards, assay blanks and sample duplicates, are inserted into the assay stream every 25, 23 and 22 samples, respectively equaling one control sample for every 8 assay 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
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), its Anumso project in Ghana's Ashanti Belt and its Rutare gold project in central Rwanda. For further information please visit www.SEDAR.com under the company's profile. Website: www.desertgold.ca.
Jared Scharf, President and CEO
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.
1 Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company's SMSZ Property.
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