Desert Gold Ventures Inc. Starts Phase 2 Drill Program At SMSZ Project, West Mali
Follow-up of 3.52 g/t Gold over 33 Metres(2) and 6.26 g/t Gold over 13 Metres(3)Delta, May 26, 2020 - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) (the "Company") is pleased to announce that it has commenced phase 2 of its exploration program on its Senegal Mali Shear Zone project in Western Mali (the "SMSZ Project"). The 394 km2 SMSZ Project is both named after, and, overlies a 38 km section of the Senegal Mali Shear Zone (see Figures 1 and 2), which is related to 5 large 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 Sadiola and Yatela Mines1. To the Company's knowledge, the SMSZ Project is the largest, contiguous, non-producer land package over this very prospective structural feature.
Phase 2 Exploration Program
The planned program will be split between mining camp-scale conceptual targets and high value drill targets that have already been defined. The bulk of the conceptual targeting comprises approximately 10,000 metres of auger drilling on wide-spaced drill fences (1.7 to 4.7 km apart) that will test below laterite-covered areas, with a focus proximal to the east side of the Senegal Mali Shear Zone, where regionally, the largest gold deposits have been discovered, including Fekola, Gounkoto, Loulo, to the south along strike, and Sadiola, to the north along strike (see Figure 1). Additional auger holes will test for extensions to gold-bearing hydrothermal breccias and along other mineralized trends and gold-in-auger anomalies that require additional definition.
Core and reverse circulation drilling are planned at the Gourbassi East, Gourbassi West and Barani East areas (Figure 2), with all 11 holes targeting extensions to know mineralization, including follow-up of an at-surface intercept of 3.52 g/t gold over 33 metres (2estimated 28 metres true thickness) at Gourbassi West and down-plunge-testing of an intercept at Barani East that returned 6.28 g/t gold over 13 metres (3estimated 11 metres true thickness). Additional air-core holes are planned to follow up on material anomalies identified by the auger program and to follow-up on previous drill intercepts.
Jared Scharf, President and CEO comments "this is our first opportunity to follow up the obviously compelling gold mineralization at the Gourbassi East and West zones, subsequent to the acquisition of Ashanti Gold in late 2019. The acquisition of Ashanti Gold was a timely and strategic acquisition for us as we are now in a much stronger gold environment. Since the acquisition, we have reviewed all historical data and updated both deposits mineralization models and are ready to begin testing these models. We see potential for both extending the mineralized zones along strike and to depth and for the discovery of additional, parallel lenses of gold mineralization. The first few holes are key to validating our new models and demonstrating potential for extending the zones. Also, circumstances permitting, our plan is to complete more drilling than proposed above, pending the outcome of a few corporate initiatives. At Barani East we're excited to follow up on known economic gold zones with the aim of expanding them outside of the historic open pit resource."
Figure 1 - SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal
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Figure 2 - SMSZ Project on Color-Contoured Ansig Magnetic base with major zones and soil anomalies*
*All gold grades over width, with the exception of the Soa prospect, represent drill holes with the true widths, for most holes, ranging from 70 to 95%. **The Soa Prospect result is from a trench with true widths unknown. Estimated true widths for the Berola Prospect are unknown. True widths at the Gourbassi Zones range are estimated to range from 55% to 90%.
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Technical Details
A total of ten holes are planned over the Gourbassi West and East areas out of a list of 26 proposed holes. These holes are designed to both validate an updated geological/mineralization model, and, to test for extensions to the mineralized zones. A combination of oriented core and RC drilling is planned.
Gourbassi West Zone
The Gourbassi West Zone consists of four, interpreted, north-trending lenses of gold mineralization that have been traced for approximately 1,000 metres along strike (see Figure 3) and to 140 metres depth. Drill holes have returned intercepts to 3.52 g/t gold over 33 metres (approximately 28 metres true width). Thicker mineralized zones appear to plunge shallowly to the north. The mineralized lenses are hosted by intermediate volcanic rocks, silicified hydrothermal breccias and sediments, immediately to the east of a major, north-northeast trending, likely structural, geological contact (see Figure 3). Hydrothermal breccias are common in the Gourbassi area and are often gold bearing. The hydrothermal breccias continue for at least 1,100 metres to the north of the Gourbassi West Zone, where weak to moderate strength, gold-in-soil anomalies to 170 ppb gold, have been noted. Induced polarization (IP) resistivity high anomalies correlate quite well with the mineralized zones, which are generally silicified, sericitic and pyritic. Several, nearby, untested IP resistivity highs will be evaluated as exploration targets.
In detail, two of the planned RC holes will test 50 metres north and south, at the same vertical elevation, of a near surface intercept of 3.53 g/t gold over 33 metres (approximately 28 metres true width). A third RC hole is a model validation hole that is expected to intersect two mineralized lenses and test for a nearby footwall lens. The fourth planned hole, is a 200-metre long core hole that will test the depth extension of three mineralized lenses, with down dip step-outs ranging from 30 to 70 metres.
Figure 3 - Plan Map Gourbassi West Zone*
* True widths at the Gourbassi Zones range are estimated to range from 55% to 90%, subject to those holes drilled partially down-dip, as noted above.
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Gourbassi East
The Gourbassi East Zone consists of at least seven, north-northeast trending lenses of gold mineralization up to 37 metres wide, that have been traced for approximately 800 metres along strike to 170 metres depth (see Figure 4). The deepest hole returned 7.49 g/t gold over 11 metres (true width approximately 6 metres). This zone is dominantly hosted by pyritic, quartz-veined, sericitic, high titanium, intermediate volcanic rocks. Felsic volcanics have been noted in the area, but, their relationship with the mineralized zones is uncertain. Magnetic and mapping data, indicates that the thickest part of the gold zone lies near a northerly-trending, shear zone contact with a northwesterly-trending magnetite iron formation.
Induced polarization resistivity high anomalies, correlate quite well with the trend of the gold mineralized lenses (see Figure 4). Additional exploration targets exist along this resistivity high trend, for another 800 metres to the south, where previous holes returned up to 0.57 g/t gold over 8 metres (approximately 5 metres true thickness).
Five holes are planned to test key parts of the Gourbassi East Zone gold system. As with the Gourbassi West Zone, the holes will be both validating an updated mineralization model and testing for extensions to the known mineralized lenses. Two core holes, 170 and 280 metres long, 200 metres apart, will be 50-60 metre vertical step-outs designed to test for up to seven parallel lenses of gold mineralization. Four of these lenses do not appear to reach surface, which provides an opportunity to test the entire, non-eroded, mineralized profile. The remaining three holes will test for interpreted, 40 to 50 metre, vertical depth extensions to mineralized zones, with the holes expected to intersect from 1 to 3 mineralized lenses each.
Figure 4 - Gourbassi East Zone Plan Map with Planned and Proposed Holes
* True widths at the Gourbassi Zones range are estimated to range from 55% to 90%.
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Barani East
The Barani East zone is a northeast-trending, sulphide replacement zone in silicified limestones. This type of alteration and host rock, are similar to the large Sadiola Gold Mine, located along the same structural and geological trend, approximately 50 km to the north. Multiple, moderate-southwest-plunging lenses of gold mineralization have been both identified and inferred in the Barani East area. A single core hole is planned at the Barani East Zone to test approximately 70 metres down-plunge of 6.3 g/t gold over 13 metres (approximately 11 metres true thickness). If this hole intersects additional strong gold grades, two additional holes have been proposed as follow-up. The goal with Barani East, is to continue to expand the mineralization footprint with an objective to increase the current modest indicated resource of 46,600 ozs gold grading 2.22 g/t gold and an inferred resource of 23,300 ounces grading 2.29 g/t gold (2016, 43-101 compliant report - Technical Report on the Farabantourou Gold Mining Permit, Kéniéba District, Western Mali, Mineral Resource Update). Drilling, completed subsequent to the resource estimate, has extended the mineralized zones beyond the current in-pit estimated resource.
Air Core Drilling
Over 250 air core holes, totaling approximately 12,600 have been proposed. It is expected also that additional air core targets will be developed through the auger drilling program. The final amount of air core drilling will be determined once the core and RC holes noted above, have been completed pending final budget numbers.
QAQC
All AC, and RC samples were geologically logged following Desert Gold's established standard operating procedures.
For AC and RC 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 (AC, and RC) 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), sample duplicates (1 :20) and blanks (1 :20). Sample batches that fail QAQC review, especially those with significant gold intercepts, are re-assayed with the insertion of new standards.
Ashanti Gold drill results QAQC Procedures for the Gourbassi 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.
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"
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Jared Scharf
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
Contact
Jared Scharf, President and CEO
Email: jared.scharf@desertgold.ca
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.
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1 Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company's SMSZ Property.