Delta, British Columbia--(Newsfile Corp. - September 23, 2020) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC PINK: DAUGF) ("Desert Gold" or "the Company") is pleased to present the results of a recently completed air core ("AC") and auger drill program, comprising 34 AC holes and 1,065 auger holes on its SMSZ Project in Western Mali, near the border with Senegal.
The ~410 km2 SMSZ Project is both named after, and, overlies a 38-km section of the Senegal Mali Shear Zone (see Figure 1), which is related to 5 large gold mines located both to the north and south, along strike, including B2 Gold's Fekola Mine, Barrick's Gounkoto and Loulo Mines and AngloGold Ashanti/Iamgold's (now 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 very prospective structural feature. Exploration targets within 5 km of the Senegal Mali Shear Zone, are considered by management, to be high priority exploration targets.
A summary of the drill highlights* are as follows. A property scale map with zone locations is presented in Figure 2,the summary details of this release are presented in Figure 3 and a table of significant results is presented in Table 1.
Sorokoto North (new zone)
- 3.94 g/t gold over 4 metres
- 2.08 g/t gold over 5 metres
- 0.84 g/t gold over 5 metres
- 2.13 g/t gold over 3 metres
- 1.24 g/t gold over 7 metres
- 0.75 g/t gold over 17 metres
- 0.95 g/t gold over 11 metres
Soa South (new zone)
- 0.89 g/t gold over 7 metres
Kolon (new zone)
- 3.96 g/t gold over 3 metres
- 10 samples > 300 ppb Au including 2,030 ppb Au, 1,527 ppb Au and 996 ppb Au, 58 auger sites >50 ppb Au
* Estimated true widths for the holes for the Barani Gap holes is 80% to 90% of the intercept width. The true width of the Sorokoto North, Soa South and Kolon Zones is unknown at this time.
Jared Scharf, Desert Gold's CEO commented "We're very encouraged by these results. Our air core results have both continued to expand the scope of recently discovered gold mineralization at the Barani Gap and resulted in the discovery of new gold zones at Sorokoto North, Kolon and Soa South. As well, the new auger results further emphasize that, in our opinion, we will find more gold zones." Mr. Scharf also noted that "with a recently topped up treasury, we have the funds to further advance and test these targets as they are being developed."
Figure 1 - SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal
To view an enhanced version of Figure 1, please visit:
Figure 2 - Property Scale Compilation Map
To view an enhanced version of Figure 2, please visit:
To view an enhanced version of Figure 3, please visit:
**All gold grades over width, with the exception of the Soa, Soa South, Sorokoto North, Kolon, 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, Soa South, Sorokoto North, Kolon and Berola prospects are unknown. Estimated true widths at the Gourbassi Zones are estimated to range from 60% to 90%.
Air Core Drilling
A short AC program was carried out to follow-up on the results from previous AC holes in the Barani Gap area, over a specific target at Sorokoto North and over the recently acquired Solo West Concession (see Figures 2 and 3). Significant results were returned from all three target areas. Note that AC holes can only test the near-surface, strongly weathered rocks and generally are not more than 50 metres deep.
A total of 17, Barani Gap AC holes, over six targets, were drilled to follow-up on previous AC holes that had returned good gold values as a follow-up to testing gold-in-auger anomalies. Four of the six targets areas returned significant gold results. The best hole, which lies along a 2,100-metre long gold-bearing trend, which includes the Barani East Zone, returned 0.75 g/t gold over 17 metres as a 50-metre northerly step-out of a previous hole that intersected 3.03 g/t gold over 10 metres. In-fill drilling is required along this carbonate-hosted gold-bearing trend, which has only been partially detail drilled along an 800-metre portion. The second-best hole, returned 0.94 g/t gold over 12 metres, from a parallel trend located approximately 100 metres to the east. Note that three internal samples were missing (assumed internal values of 0 g/t gold) due to likely artisanal mining depletion. This hole was drilled as a 50 metre north step out to an intercept that returned 1.36 g/t Au over 6 metres.
Two short, wide-spaced (approximately 3 km apart) drill fences, totalling 11 holes, were completed proximal to artisanal mining areas, over the recently acquired Sola West concession. These are the first recorded holes in this area, which lies along a structural zone, which extends from the Barani East Zone through to the Soa Zone (highlight drill intercept of 2.03 g/t Au over 30 metres). Significant drill intercepts were returned from both target areas, with the southern fence returning a best intercept of 3.96 g/t Au over 3 metres and the northern fence returning a best intercept of 0.89 g/t Au over 7 metres. The northern most drill fence also returned wide, low grade, but strongly anomalous gold values in five of the six AC holes, suggesting the presence of a large mineralized system.
The third target area, Sorokoto North, is a new discovery. It is located proximal to another northeast trending cross structure, much like the Barani East-Soa Zone structural trend. Three of the six holes returned significant drill results with holes DJ-20-AC-001 and DJ-20-AC-003 returning intercepts of 0.84 g/t Au over 5 metres, 3.94 g/t Au over 4 metres and 2.08 g/t Au over 5 metres.
A total of 1,065 auger holes were drilled along 23, wide spaced drill fences over, dominantly, laterite-covered areas (see Figure 3 for general auger hole locations and highlight results). The auger holes, along the drill fences, are spaced 25 metres apart and average 9 metres deep ranging from 3 to 27 metres deep. Two samples are taken in each hole corresponding to the base of the laterite and the upper part of the saprolite (weathered rock). The purpose of the auger drilling was to test below large, laterite-covered areas, where previous work is limited to non-existent and where soil sampling is not an effective tool for the discovery of sub-cropping gold zones. The goal of this program was to identify areas with gold enrichment and then follow-up with more detailed auger drilling and subsequent testing of anomalies. This program resulted in 58 auger sites returning gold values >50 ppb gold with 25 of the sites returning >100 ppb gold, with a best result of 2,030 ppb gold. In-fill auger lines, spaced from 200 to 400 metres apart, will be completed to better define the gold-in-auger anomalies, so that drill targets can be developed. Previous auger drilling on the property, returned five significant drill intercepts with a best intercept of 3.03 g/t gold over 10 metres, from the Barani Gap area.
The five longest auger lines, up to 4.4 km long and approximately 1.3 to 2 km apart, were completed over an extensive, laterite-covered area that overlies an area to the east of the interpreted location of the Senegal Mali Shear Zone. Significant gold-in-auger anomalies, and wide areas of gold enrichment (20 to 50 ppb gold) were returned from all five lines.
Eight, up to 1,000-metre long auger lines were completed proximal to the new Kolon and Soa South Zones. These scattered lines were first pass auger drill tests over areas with anomalous soil values, and/or laterite covered areas. Gold-in-auger values ranged up to 966 ppb gold with seven sites returning >50 ppb gold. Follow-up auger drilling is required.
Three short auger lines were completed to test laterite-covered areas to the north of the Berola gold occurrence (previous intercept of 1.03 g/t gold over 18 metres - true width unknown). The Berola occurrence is hosted by a hydrothermal breccia that is located adjacent to a manganese/hematite iron formation exhalate unit, in a similar setting to the Gourbassi NE zone, located approximately, 5.5 km to the southwest. This exhalate horizon lies proximal to a likely structure, defined by a change from higher to lower magnetic susceptibility, that separates volcanic rocks to the west, from conglomerates (in part 'Tarkwa-looking') and siltstones to the east. All three auger lines returned anomalous gold-in-auger results, with the two, southernmost lines returning the best results and a local high value of 366 ppb gold.
One other auger line, located in the extreme southeast corner of the property, returned a single strong gold value of 364 ppb gold. This auger line was installed to partially test an area where the Senegal Mali Shear Zone appear to bifurcate.
Work on a 43-101 technical report has commenced with the selection of a consultant and continued updating of the mineralization models. The results of this report, including an exploration plan, are expected to be released in late October or early November, with field exploration, including approximately 20,000 metres of drilling, is expected to resume in November, and then continue through to early July, 2021.
All AC samples were geologically logged following Desert Gold's established standard operating procedures.
For AC drilling, all individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2kg sub-samples which were sent by truck from the project site, for preparation and gold assaying at the SGS laboratories in Bamako, Mali.
Each sample (auger and AC) is fire-assayed for gold by SGS laboratories in Bamako using Au-FAA505 method, which is a 50g fire assay fusion with AAS instrument finish. In addition to SGS's own QA/QC (Quality Assurance/Quality Control) program, Desert Gold's internal quality control and quality assurance procedures included the use of certified standards (1:20-30), sample duplicates (1 :20) and blanks (1 :20). Sample batches that fail QAQC review, especially those with significant gold values, are re-assayed with the insertion of new standards.
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.
About Desert Gold
Desert Gold Ventures Inc. is a gold exploration and development company that holds 2 gold exploration projects in Western Mali (SMSZ and Djimbala) and its Rutare gold project in central Rwanda. The Company's current focus is its 410 km2 SMSZ Project that spans approximately 38 km of the prolific Senegal Mali Shear Zone.
On Behalf of the Board of Directors
Sonny Janda, Chairman
Jared Scharf, President & CEO
Tel. No.: +1 (858) 247-8195
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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.
Table 1 - Summary of Significant Drill Intercepts
Table 1 - Detailed Drill Hole Assay Summary
 Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company's SMSZ Property.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64452