Desert Gold Provides an Update on Drill Results at the Rubaya Project, Rwanda
TORONTO, ONTARIO -- (Marketwire) -- 08/01/12 -- Desert Gold Ventures Inc. (TSX VENTURE: DAU) (the "Company" or "Desert Gold") continues to drill the mineral resource it discovered in Rwanda in 2008. In 2010, an inferred resource of 5.5 million tonnes at a grade of 1.48g/t Au for a resource of 265,000 ounces was declared (see Desert Gold's SEDAR profile)(1). Since that time three announcements have been made of further intersections on the mineralized zone. Once again, we are pleased to announce the successful outcome of further drill progress on the Byumba Gold Permit in Rwanda. Desert Gold is currently drilling to increase the resource by drilling along the extensions of the deposit. A total of 3,286m has been drilled in 14 holes along the north north-western extension and down dip of the current resource. Drilling suggests the mineralized zone to be continuous for 1,200m adding 400m of strike to the existing resource. Holes drilled down dip indicate mineralization to continue in depth. The orientation of the mineralized zone is NNW to SSE with mineralization occurring from surface. Gold mineralization is hosted in broad zones which includes higher grade mineralization. Mineralization is open down dip and along strike and potential exists to further increase the resource. Intersections made since the last update in April 2012 are given in Table 1. Borehole RB12-45 intersected 19.35m at an average grade of 1.5g/t Au, including 7.19m at a grade of 3.12g/t Au. This intersection occurs down dip of borehole RB09-27 that intersected 0.94g/t Au over 17m including 1.20g/t Au over 7m.
1. McKinney, M. and J. Fleming (2011). Byumba, Rusizi and Nyamugali
Projects Rwanda - Independent Technical Report on Gold Exploration and
Mineral Resources. Prepared by Coffey Mining on behalf of: TransAfrika
Belgique SA.
Table 1. Selected intersections from recent drilling
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Intersection Estimated
From To width true width Au
Hole No (m) (m) (m) (m) (g/t)
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RB12-42 207.49 228.45 20.96 17.5 0.69
including 210.88 212.58 1.70 1.4 1.71
215.03 219.40 4.37 3.6 1.02
224.22 228.45 4.23 3.5 0.98
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RB12-42 262.52 275.13 12.61 10.4 0.75
including 269.07 271.26 2.19 1.8 2.00
273.33 275.13 1.80 1.5 1.40
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RB12-43 45.74 68.02 22.28 24.6 0.64
including 66.01 68.02 2.01 1.7 4.57
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RB12-44 192.69 201.23 8.54 6.9 0.97
including 192.69 195.13 2.44 2.0 1.66
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RB12-44 206.41 212.10 5.69 4.6 0.86
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RB12-44 226.37 247.22 20.85 16.9 0.66
including 226.37 229.00 2.63 2.1 1.52
237.11 240.77 3.66 3.0 1.28
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RB12-45 152.65 172.00 19.35 16.7 1.50
including 154.81 162.00 7.19 6.2 3.12
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RB12-47 68.80 96.11 27.31 22.2 0.55
including 68.80 71.80 3.00 2.4 1.10
77.51 80.08 2.57 2.1 1.14
90.38 91.42 1.04 0.8 2.27
94.16 96.11 1.95 1.6 1.26
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Sample analysis was conducted by ALS Chemex South Africa (Pty) Limited, Johannesburg laboratory. The samples were assayed by means of a fire assay with an inductively coupled plasma and atomic emission spectrometry (ICP-AES) finish. ALS Chemex is a South African National Accreditation System (SANAS) certified laboratory.
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About Desert Gold
Desert Gold Ventures Inc. is an advanced exploration and development company which holds mining assets in Mali, Rwanda, Senegal and a 50% participating interest in a joint venture agreement with Kinross Goldbanks Mining Company (a subsidiary of Kinross Gold Corporation) of Toronto, Ontario in respect of the Goldbanks Mining property located in Pershing County, Nevada, USA.
For further information concerning Desert Gold Ventures Inc. and the TransAfrika material properties, please refer to Desert Gold's SEDAR profile at www.sedar.com or visit our website at www.desertgold.ca.
Anthony Herman Vermaak (Pr. Sci. Nat) (Registration No. 400140/08) is the independent Qualified Person responsible for the technical information reported herein. This news release has been prepared on behalf of the board of directors of Desert Gold, which accepts full responsibility for its contents.
Louw van Schalkwyk, B.Sc. Geology (Honours), Vice President, Exploration, Director
This press release includes certain "forward-looking statements". All statements regarding the ability of the Company to successfully delineate new resources in proposed drilling programs are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include the inability of the Company to close the Proposed Transaction and the Financing due to the state of the capital markets and other risk factors as discussed in the Company's filings with Canadian securities regulatory agencies. The Company expressly disclaims any obligation to update any forward-looking statements except as may be required by law.
For further information concerning Desert Gold Ventures Inc. and the TransAfrika material properties, please refer to Desert Gold's SEDAR profile at www.sedar.com or visit our website at www.desertgold.ca.
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.
Contacts:
Desert Gold Ventures Inc.
Roeland van Kerckhoven
President and CEO
230 211 862511 8625
1 (778) 372-1790 (FAX)
roelandvk@desertgold.ca
Desert Gold Ventures Inc.
Jared Scharf
CFO
1 (416) 662-3971
1 (778) 372-1790 (FAX)
jared.scharf@desertgold.ca
www.desertgold.ca