Delta, British Columbia, October 24, 2019. Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) ("Desert Gold" or "the Company") is pleased to present its project development plans for the Q4, 2019 to Q3, 2020 exploration season for its Senegal Mali Shear Zone Project (the "SMSZ Project").
During that past few months, Desert Gold has been reviewing, interpreting and modelling recent and historic results over its much-expanded SMSZ Project. The 407 km2 SMSZ Project is both named after, and, overlies a 38 km section of the Senegal Mali Shear Zone (see Figure 1), 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.
In summary, Desert Gold's upcoming USD $3 million project development program consists of the following activities:
- 15,000 m+ of air core, reverse circulation and diamond drilling
- Goal - add to existing zones, outline additional mineral resources and hunt for gold- mineralized zones under shallow cover. Includes sufficient budget flexibility to react to results.
- 10,000 metres of auger drilling
- Goal - test laterite-covered areas for new mineralized zones under shallow cover.
- 26 line-km of induced polarization geophysical surveys
- Goal - develop drill targets to test extent of gold-bearing sulphides in felsic intrusions and sandstones in two areas.
- Collection of 5,060 soil samples
- Goal - first pass coverage over areas suspected to host gold mineralization.
- Six months of mapping by 2 dedicated field crews
- Goal - develop a strong, property-wide geological foundation for future work and to aid the interpretation of the gold-bearing zones.
- Develop a NI43-101 resource estimate, in Q3, 2020, if warranted
- Goal - present a compiled summary of property package with a material mineral resource.
Jared Scharf, Desert Gold's CEO comments "the planned project development program will be the largest that Desert Gold has ever completed on what management believes is our strongest property portfolio to date. We look forward to good news flow over the next 10 to 12 months as we execute the program and present the results."
1 Mineralization hosted onadjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company’s SMSZ Property.
Figure 1. Property Scale Compilation Map*
*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 30% to 90%.
Project Development Plan Details
Based on recent and historic work, a total of 39 target areas have been defined (see Figure 2). Larger, rectangular, highlighted areas represent soil and geophysical target areas, whereas elongate and ovoid target areas outline where a combination of auger, air core (AC), reverse circulation (RC) and diamond drilling, will be carried out.
Drilling priorities include RC and diamond drill testing of the updated mineralization models at the Gourbassi West, Gourbassi East and Barani East deposits with a goal to both validate the updated models and further build/increase the current mineral resources. Each of these zones have returned, what management believes are, significant, ore-grade, gold-bearing intercepts (See Figure 1) that should support a mineral resource estimate or should lead to increased current mineral resources. RC holes will also follow-up on additional targets associated with the Berola and Barani East Zones. Air core holes, which represent 2/3rds of the planned drilling, will target prioritized auger and soil targets. It is likely that auger surveys and mapping will develop additional AC targets.
Auger drilling will be carried out over laterite-covered areas that are suspected to, or may overlie, gold bearing zones. Most of the auger lines are first pass surveys over areas that require little to no site preparation. Planned auger holes comprise approximately 80% of the budgeted 10,000 metre drill program. Upon reception of positive results, additional lines will be completed during the exploration program.
Induced polarization geophysical surveys are planned over the Frikidi and Linguekoto areas. Recent drilling over both areas returned significant multiple, but relatively narrow, gold-bearing drill intercepts in pyrite-bearing sandstones and felsic intrusion, respectively. The goal of the geophysical program will be to define a larger scale target that could lead to the discovery of wider zones of gold mineralization or areas where the known gold zones may coalesce into a larger scale feature. Anomalies defined by this program will likely be tested during the current program.
Soil sampling is planned in two areas, one north, along strike of the Gourbassi West Zone and the other filling in a soil survey gap to the north of the Gourbassi East Zone. This work is expected to start in early 2020. Targets defined during this survey may be tested during the current exploration program.
A property wide mapping and prospecting program is scheduled to start as soon as the exploration camp is opened in early November. The goal of this program will be to develop a property scale geological map, which will aid in the delineation of drill targets, provide up to date guidance of artisanal mining activities, stand on and evaluate every anomalous soil sample, and outline those areas that would require auger testing. A NI43-101 property and mineral resource estimate report may be prepared if deemed prudent and timely. This report, however, may be delayed if it makes sense to complete additional drilling first. The proposed timing for this technical report would be in late Q3, 2020, after reception and interpretation of all drill results.
Figure 2. Target Summary Location Map
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.
About Desert Gold
Desert Gold Ventures Inc. is a gold exploration and development company that holds 3 gold exploration projects in Western Mali (SMSZ, Segala West and Djimbala) and its Rutare gold project in central Rwanda. The Company's current focus is its 407 km2 SMSZ Project that spans approximately 38 km of the prolific Senegal Mali Shear Zone.
ON BEHALF OF THE BOARD
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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