Wednesday, January 21, 2009
TSX Venture Symbol: DAU
GOLDBANKS PROPERTY, PERSHING COUNTY, NEVADA
INITIAL KW ZONE DRILLING RESULTS
Vancouver, B.C. -- Desert Gold Ventures Inc. ("Desert Gold" or the "Company") is pleased to announce that the results for 2008 drilling activities in the KW Zone, located at the north end of the Goldbanks property (the “Property”) have been received and interpreted. The drilling confirms the potential for high-grade gold mineralization in the KW Zone and has defined a principal control of this mineralization as a northwest-trending and southwest-dipping fault zone (“KW Fault Zone”). A total of 8,132.5 feet of drilling was completed in the KW Zone and is comprised of 6,002.5 feet of core and 2,130 feet of reverse circulation drilling. All core and rotary cuttings samples were analyzed by ALS Chemex for gold, silver, and a suite of trace metals.
The KW Zone is a previously defined small resource area containing 74,300 oz Au, although the controls of the gold mineralization were never clearly established. A detailed review and re-interpretation of geology of the KW Zone suggested that a northwest-trending, southwestern-dipping series of subparallel fault zones are the principal controls of both high and low-grade gold mineralization that comprise this resource area. The 2008 drilling program in the KW Zone confirmed the presence and gold-bearing nature of a major northwest-trending fault zone; the KW Fault Zone. The KW Fault Zone is a principal focus for dike emplacement, hydrothermal alteration, and is a primary control of the gold mineralization in the resource area.
Several core and reverse circulation holes intersected the KW Fault Zone and demonstrate that the zone can be traced along strike >1200 feet and ranges from <50 to >100 (up to 100’s of) feet wide. The Fault Zone is intensely brecciated, contains abundant dikes, is pervasively silicified, and contains crystallized and banded epithermal quartz veining exhibiting abundant open spaces, boiling textures, associated pyrite, iron, and manganese-oxides. The majority of gold, including higher grade (≥0.4 oz/t Au) zones, appears to be closely associated with the quartz veining. Gold grades are erratic within the zone and detailed studies to determine the exact location and mineralogical associations of gold mineralization will be undertaken.
A table of some of the 2008 drill holes that intersected the mineralized KW Fault Zone is shown below.
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Table of 2008 KW Zone 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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Grade (oz/t Au)
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|
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445
|
460
|
15.0
|
0.230
|
|
455
|
460
|
5.0
|
0.484
|
|
510
|
513.5
|
3.5
|
0.199
|
|
|
379.5
|
385
|
5.5
|
0.137
|
|
755
|
774
|
19.0
|
0.161
|
|
755
|
758.5
|
3.5
|
0.521
|
|
764
|
769
|
5.0
|
0.216
|
|
875
|
885
|
10.0
|
0.046
|
|
GB08-03
|
446
|
451
|
5.0
|
0.155
|
|
477
|
487
|
10.0
|
0.050
|
|
819
|
834
|
15.0
|
0.019
|
|
834
|
839
|
5.0
|
0.224
|
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GB08-05
|
265
|
270
|
5.0
|
0.177
|
|
545
|
550
|
5.0
|
0.073
|
|
685
|
688.5
|
3.5
|
0.089
|
|
GB08-06
|
333
|
338
|
5.0
|
0.207
|
|
629.5
|
670
|
40.5
|
0.013
|
|
GB08-07
|
|
|
|
Inc.
|
|
|
|
Inc.
|
|
|
|
Inc.
|
|
|
|
Inc.
|
|
232
|
237
|
5.0
|
0.172
|
|
724
|
805
|
81.0
|
0.070
|
|
724
|
729
|
5.0
|
0.234
|
|
729
|
753
|
34.0
|
0.012
|
|
753
|
805
|
52.0
|
0.082
|
|
773
|
778
|
5.0
|
0.487
|
|
GB08-33
|
240
|
325
|
85.0
|
0.013
|
|
GB08-34
|
60
|
120
|
60.0
|
0.010
|
|
200
|
300
|
100.0
|
0.011
|
|
GB08-35
|
170
|
180
|
10.0
|
0.016
|
|
200
|
205
|
5.0
|
0.089
|
|
295
|
320
|
25.0
|
0.011
|
|
400
|
415
|
15.0
|
0.011
|
|
650
|
655
|
5.0
|
0.099
|
|
700
|
705
|
5.0
|
0.045
|
|
750
|
755
|
5.0
|
0.042
|
|
865
|
890
|
25.0
|
0.020
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Topographic features suggest the KW Fault Zone continues along strike to the south and north beyond the current limits of drilling and results from the 2008 program indicate that additional exploration drilling is warranted to define the north and south limits of this mineralized fault zone and infill drilling along the zone. In addition, the high-level style and textural features exhibited by the quartz veining suggest that future drilling should target the KW Fault Zone down-dip. Portions of the KW Fault Zone that contain the highest gold grades and well-developed epithermal quartz veining warrants exploration drilling at a level of at least 200-500 feet down-dip of the current level of gold anomalies to test the potential for bonanza gold mineralization in the vein zone.
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
See NI 43-101 Technical Report dated February 27, 2006 filed under our profile on www.sedar.com.
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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