Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the “Company”) is pleased to announce results from the first three core holes designed to drill test the depth extent of the Gourbassi West North Zone at its SMSZ Project in Western Mali. All three core holes intersected significant amounts of gold mineralization with a highlight intercept of 1.08 g/t gold over 124 metres* including 1.85 g/t gold over 41.1 metres* and 0.7 g/t gold over 30.6 metres*.
The first three holes, which were all core holes, returned wide intervals of gold mineralization and demonstrate that gold mineralization extends to at least 175 metres depth compared to the previous depth extent of 35 metres. A summary of significant intercepts are as follows:
- FR-22-DD-007 – 1.35 g/t gold over 43.1 metres including 1.66 g/t gold over 13 metres
- FR-22-DD-008 – 0.53 g/t gold over 8.2 metres and 0.74 g/t gold over 21.0 metres
- FR-22-DD-009 – 0.70 g/t gold over 30.6 metres and 1.08 g/t gold over 124 metres including 1.85 g/t gold over 41.1 metres
* True widths are estimated at 60-70 % of drill widths except for the intercept in hole DD-009 which is estimated at 57% of drilled length
Jared Scharf, President and CEO, commented, “This is a fantastic start to our 2022 drill program. We are intersecting wide zones of gold mineralization that start at or near surface suggesting real potential for the delineation of a significant gold deposit with good economics. Hole DD009 intersected roughly 160 metres of almost continuous gold mineralization. These initial results are particularly satisfying as the Gourbassi West North Zone is a recent discovery in a previously unexplored part of the property. Gourbassi West North has the potential to significantly upgrade the existing resource at SMSZ as we continue to flesh out this target.”
The Gourbassi West North (GWN) Zone, which was discovered in July 2021, lies near the west side of the SMSZ property package (Figure 4). A total of 94 holes totalling 4,372.5 metres of drilling has been completed over the GWN Zone including 3 core holes totalling 605.5 metres, 14 RC holes totalling 1,854 metres and 78 AC holes totalling 2,066 metres (see Figure 1 for drilling plan view). These holes were designed to test the extent of the GWN Zone for 1,800 metres along strike to a depth of 175 metres. The mineralized zones are dominantly hosted by micro-conglomerate. Lesser amounts of conglomerate, limestone and shale have also been noted. Alteration consists of disseminated veinlet pyrite and local disseminated arsenopyrite is a weakly to moderately sericitized and silicified conglomerate.
The widest gold zones occur proximal to the west side of a fault zone at the western contact of a silicified volcanic breccia. Mineralization generally dips steeply to the west, but hole FR-DD-22-009 suggests that locally the mineralization may also dip to the east. Interpreted sections of the first 3 core holes are presented in Figures 2 and 3. A summary of significant intercepts is attached in Table 1 at the end of the release.
Assay results for the most of the AC and RC holes are still pending.
Currently, the drill is testing a target at Linneguekoto West (Inferred mineral resource of 66,200 ounces at 1.48 g/t gold) with a few holes already completed at Mogoyafara South (Inferred Mineral Resources of 412,800 ounces of gold at 1.08 g/t gold) and Barani East (Measured and Indicated mineral resources of 91,200 ounces of gold grading 1.90 g/t gold and Inferred mineral resources of 133,900 ounces of gold grading 1.54 g/t gold). These mineral resources estimates were presented in a news release on January 17, 2022.
*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 60 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%.
All auger and drill samples are delivered to SGS in Bamako, Mali where they are prepped. The prepped samples, are both shipped by truck to SGS’s facility in Ouagadougou, Burkina Faso, or remain at SGS’s laboratory in Bamako, for Au determination by fire assay. Standards and assay blanks,were inserted into the assay stream every 22 to 30 samples, respectively equaling one control sample for every approximately every 8-15 assay samples. All assay batches are reviewed for quality with re-assays requested 20 samples on either side of standards that assay more than 2 to 3 SD from an excepted value and for blanks that contain more than 10 ppb gold.
Ashanti Gold drill results QAQC Procedures for the Gourbassi East and West Zones
Certified Reference Materials and Blanks were inserted into the sample stream at the rate of 1:20 samples. Field duplicates are collected at the rate of 1:50 samples. All samples have been analyzed by SGS Laboratories in Bamako with standard preparation methods and 50g fire assay with atomic absorption finish. SGS does their own introduction of QA/QC samples into the sample stream and reports them to Ashanti for double checking. Higher grade samples are reanalyzed from pulp or reject material or both.
Hyundai QAQC Procedures
Desert Gold does not have any information regarding Hyundai’s QAQC procedures at the Linnegukoto West Zone. However, based on follow-up of historic drill results in the Barani Area indicates an acceptable level of accuracy.
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 both Qualified Persons under National Instrument 43-101, have 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) 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 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.
Jared Scharf, President and CEO, Email: firstname.lastname@example.org
Tel. No.: +1 (858) 247-8195
Table 1. Gourbassi West North Zone Significant Drill Intercepts