Monday, December 16, 2008
TSX Venture Symbol: DAU
DESERT GOLD SUCCESSFULLY TRACES KEY HIGH GRADE FAULT ZONE FOR 1800 FEET, COMPLETES 2008 DRILLING PROGRAM
Vancouver, B.C. -- Desert Gold Ventures Inc. (“Desert Gold” or the “Company”) is pleased to announce that the 2008 drilling program has now been completed on the Goldbanks Project (the “Property”), Pershing County, Nevada. The total drilling completed on the Goldbanks Project in 2008 is 8,502 feet of core drilling and 16,050 feet of reverse circulation drilling. All core and rotary cuttings samples have been submitted to Chemex for analysis. A total 33 holes were drilled ranging in depth from 220 to 1000 feet. Assays for many of the drill holes are still pending.
The majority of the drilling was done at the north end of the Property in and around the KW Zone, which is the most northerly of the previously defined resource areas on the Goldbanks Property. In the KW Zone, drilling confirmed the lateral and vertical continuity of a major northwest-trending fault (“KW Fault”) that was identified by Desert Gold geologists. Previous drilling that intersected this fault returned 30 feet of .627 oz gold per ton and 10 feet of 1.059 oz per ton gold (hole KW 19 from 455 feet to 485 feet, .627 oz per ton, and hole KW 133 from 605 feet to 615 feet, 1.059 oz per ton).
The diamond drill core holes completed within the KW Zone tested the continuity of known high-grade (>1 oz/t Au) mineralization. All holes intersected a zone which contained significant amounts of quartz veining that exhibits textural and mineralogical features consistent with the known high-grade vein mineralization associated with the target northwest trending fault zone. Assays are pending.
Eugene Beukman, President of Desert Gold stated that “this confirmation of a continuous and high-grade fault zone is very exciting. We have numerous drill holes pending assays and look forward to seeing these results.”
Several exploration areas distal to the KW Zone where alteration and mineralization were discovered in 2007 were drilled while waiting for permit approval of the primary target areas. The initial drill results from these outlying areas returned wide zones of anomalous low-grade (0.3 to >2.0 ppm Au) gold mineralization. Additional drilling is needed to evaluate the size and significance of these areas.
KW Zone
An ongoing detailed review and re-interpretation of geology of the KW Zone suggested that a northwest-trending, southwestern-dipping fault zone as the principal control of both high and low-grade gold mineralization comprising this resource area. Drilling in 2008 has confirmed the presence of this KW Fault Zone as a principal focus of dike emplacement, hydrothermal alteration, and a primary control of the gold mineralization. Assay results from several key holes are still pending.
The KW Fault can be traced at least 1800 feet along strike and is a composite of numerous distinctive structural planes over a width of >100 feet although the primary zone is ~50 feet wide and is a focus of dike emplacement (at least three compositions). Brecciation is locally intense, exhibits crosscutting relations of previously silica cemented breccias, several phases of silicification, and a later epithermal crystallized and banded veining with abundant open spaces associated with Fe- and Mn-oxides; suggesting recurrent movement. These epithermal quartz-rich zones host the majority of the known gold mineralization, including the higher gold grades (≥0.5 oz/t Au). The 2008 drilling program confirmed the down-dip and along strike continuation of several of these higher grade zones and that these zones are enveloped by lower grade halos and are indeed associated with the KW-Fault Zone.
Main Zone
A similar detailed review of the Main Zone geology and detailed work on the cross sections is in progress and has also resulted in a revision in the stratigraphy and delineation of numerous previously unrecognized steeply-dipping faults. Approximately 30 sites (RC and core) were proposed in the operating plan to test the continuity of the high grade (>1 oz/t Au) mineralization occurring in fault-controlled veins. Holes were targeted along strike and down-dip extensions of the mineralization. However, due to permitting delays, approval for drilling in the Main Zone area was not received until mid-September; as a result only 3 holes were completed.
Assays are still pending. Additional holes were pre-collared and cased and are ready to drill core tails in 2009.
All completed holes encountered significant amounts of epithermal quartz exhibiting banding, crystallized textures and abundant open spaces, containing sulfides, and associated with abundant Mn-oxides; all the features exhibited by the high-grade veins at the Goldbanks Property.
The program was designed to define and extend laterally and at depth the numerous high-grade veins that form the feeder system to the Company’s NI-43-101 surface deposit resource 556, 700 ounces of gold. The program was also designed to test newly defined areas of near surface mineralization. (See the Company's News Release dated March 28, 2006).
The high-grade zones were intersected by previous drilling campaigns and are located primarily within the Cube and Main Zone of the known resource area.
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PREVIOUS High-Grade Selected Drill Holes:
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Hole Number
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From
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To
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Feet
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Oz Per Ton
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G211
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485
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505
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20
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.627
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KDV 04
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570.3
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577.7
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7.4
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.837
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KG 06
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715
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725
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10
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1.265
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KW 19
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455
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485
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30
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.627
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KW 38
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585
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595
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10
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.789
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KW 52
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645
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655
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10
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3.58
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KW 133
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605
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615
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10
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1.059
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KWDA 09
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465
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470
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5
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2.5
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See NI 43-101 Technical Report dated February 27, 2006 filed under our profile on www.sedar.com.
Desert Gold is exploring the Goldbanks Property under an option and joint venture agreement with Kinross Gold Corporation (NYSE: KGC). Exploration work is being conducted under the supervision of the Company’s Qualified Person, Timothy J. Percival, CPG. ALS Chemex Ltd. of Vancouver analyzed the samples.
On Behalf of the Board of Directors,
"Eugene Beukman"
Eugene Beukman, President
For further information on Desert Gold Ventures Inc. please visit our website at:
www.desertgold.ca
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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