Desert Gold Provides Exploration Update on Senegal Mali Shear Zone Project
Delta, British Columbia--(Newsfile Corp. - July 8, 2019) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) (the "Company") is pleased to provide an update regarding the ongoing exploration program at the Company's Senegal Mali Shear Zone Project ("SMSZ Project") in Western Mali.
Update on Senegal Mali Shear Zone Project 2019 Exploration Program
Exploration has commenced over Desert Gold's SMSZ Project (See Figure 1). To date, weather in the region has seen minimal rain and the exploration program is expected to finish on schedule. Weather conditions permitting, the Company may elect to expand the current program.
- Completed 21 RC drill holes to an average depth of 90 meters to test the new, 2km long by 700-meter-wide, Frikidi/Kousilli target area where recent mapping and sampling returned multiple gold values in excess of 100 g/t gold that are associated a series of north and northwest-trending structures;
- Completed drilling of 4 RC holes over the Linguekoto target where historic drilling in the area has delivered drill results up to 9.91 g/t Au over 3 meters. Holes are designed to test an area where multiple, northwest-trending, mineralized structures occur proximal to a pyritic-bearing granodioritic intrusion;
- Approximately 50% of 8,000 metres of auger drilling are completed to date. The objective of the auger program is to develop targets in a laterite-covered, conceptual target area where three mineralized zones (Barani East, Barani and Keniegoulou) appear to intersect;
- Drilling is now underway at the 550-metre long Barani East Zone which returned a recent intercept of 6.28 g/t Au over 13 metres at approximately 80 metres depth. This deposit area is open along strike and to depth;
- Follow-up validation of a gold-in-soil anomaly of greater than 13,000 ppb gold, on the newly acquired MMC ground, has led to the discovery of two large, active, artisanal open pits mines located northeast, on strike, with the Company's Barani East gold zone. The pits are approximately 100 metres long by up to 20 metres wide by 5 to 10 metres deep. These workings are currently being mapped and sampled;
- In conjunction with the acquisition of Ashanti Gold's, contiguous, Kossanto East Property, re-modelling of the Gourbassi East and West Deposits, which have returned significant amounts of gold mineralization, has commenced. A ground magnetic survey, with a goal to support geological and mineralization modelling in support of additional drilling, and, likely, a resource estimate, is now underway.
Figure 1. Senegal Mali Shear Zone Project Map
To view an enhanced version of Figure 1, please visit:
All grab samples were geologically described following Desert Gold's established standard operating procedures. For grab sampling, samples representing approximately 2-3 kilograms, are sent for preparation and assaying for gold to the SGS laboratory in Bamako, Mali. Each sample is fire-assayed for gold by using the Au-FAA505 method which is a 50g fire assay fusion with AAS instrument finish. In addition to SGS's QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, by inserting blind duplicates (1 sample in20), blanks (1 sample in 20) and recognized industry standards (1 sample in 20) systematically into the sample stream.
This press release contains certain scientific and technical information of Desert Gold. The Company is solely responsible for the contents and accuracy of any scientific and technical information disclosure relating to it.
Don Dudek, P.Geo. is 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 & Director
About Desert Gold
Desert Gold Ventures Inc. is a gold exploration and development company which holds 3 gold exploration permits in Western Mali (Farabantourou, Segala West and Djimbala) and its Rutare gold project in central Rwanda. Furthermore, Desert Gold is in the process of acquiring a large property package on and near the Senegal Mali Shear zone as part of its SMSZ project, which is anchored by the Farabantourou Concession. For further information please visit www.SEDAR.com under the company's profile. Website: www.desertgold.ca
Jared Scharf, President and Director
Tel. No.: +1 (858) 247-8195
This news release contains forward-looking statements respecting the Company's ability to successfully complete the Offering. 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, including the inability of the Company to successfully complete the Offering. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46126