Delta, British Columbia--(Newsfile Corp. - November 12, 2019) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) ("Desert Gold" or "the Company") is pleased to announce the commencement of its exploration program over the Company's SMSZ Project in Western Mali, near the border with Senegal. 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 (see Figure 1).
Initial work, supported by two, newly hired, dedicated mapping teams, will consist of mapping and prospecting along a northeast-trending structural corridor. This corridor hosts several gold zones, numerous high value gold-in-soil anomalies, and extends approximately 9 km from the Barani East Zone to the recently acquired Soa Prospect (see Figure 2). The Barani East Zone is a gold-bearing, carbonate-hosted, sulphide replacement zone that has returned intercepts to 7.82 g/t gold over 13 metres*. Additional drill testing of this prospect is planned in 1H, 2020. The Soa Prospect (target area 16), which returned trench results of 0.89 g/t gold over 28 metres**, has not been drilled. Between these two areas, three, large artisanal mining areas, have been observed, with one hosting two, 100 metre-long, 15-25 metres wide and 5-10 metres deep, open pits (target area 42). Mapping and prospecting is expected to generate additional targets.
In early December, air core drilling of approximately 70 holes is scheduled to start over target areas 16, 41 and 42. Area 16 is the untested Soa Prospect that hosts a considerable amount of artisanal mining activity and returned strong trench results. Target area 41 lies in a shallow-laterite-covered area where three gold zones appear to intersect and where recent auger drilling returned anomalous gold values over a 150-metre wide zone and numerous other gold-in-auger anomalies to 1,840 ppb gold. Target area 42, lies proximal to two, 100-metre long, artisanal mining open pits. If circumstances permit, additional air core drilling will be carried out before year-end.
In early 2020, exploration activities, including drilling, soil sampling and geophysical surveys, on the remaining 39 target areas are expected to commence. A final site review of these target areas is being carried out this week with a goal to finalize the 2020 program details before month end.
Jared Scharf, Desert Gold's CEO comments "With the rainy season now behind us, we are eager to begin work at our SMSZ project. Last year our primary focus was on making strategic acquisitions. With the acquisition of Ashanti Gold and the successful completion of the MMC, Altus and SUD Mining property deals, our SMSZ project has expanded in size nearly fourfold over the last 12 months. This year our focus will be on utilizing a full work season to do as much development on this ground as possible. We look forward to a safe and rewarding work season."
To view an enhanced version of Figure 1, please visit:
*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 60% to 90%.
To view an enhanced version of Figure 2, please visit:
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.
1 Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company's SMSZ Property.
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.
On Behalf of the Board of Directors
Jared Scharf, President & CEO
Tel. No.: +1 (858) 247-8195
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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