Follow-Up of 3.52 G/T Gold Over 33 Metres2 and 6.26 G/T Gold Over 13 Metres3
Delta, British Columbia, May 26, 2020 Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC:DAUGF) is pleased to announce that it has commenced phase 2 of its exploration program on its Senegal Mali Shear Zoneproject in Western Mali (the “SMSZ Project”). The 394 km2 SMSZ Project is both named after, and, overlies a 38 kmsection of the Senegal Mali Shear Zone (see Figures 1 and 2), which is related to 5 large mines located both to the northand south, along strike, including B2 Gold’s Fekola Mine, Barrick’s Gounkoto and Loulo Mines and AngloGoldAshanti/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.
Phase 2 Exploration Program
The planned program will be split between mining camp-scale conceptual targets and high value drill targets that haveThe planned program will be split between mining camp-scale conceptual targets and high value drill targets that havealready been defined. The bulk of the conceptual targeting comprises approximately 10,000 metres of auger drilling onwide-spaced drill fences (1.7 to 4.7 km apart) that will test below laterite-covered areas, with a focus proximal to the eastside of the Senegal Mali Shear Zone, where regionally, the largest gold deposits have been discovered, including Fekola,Gounkoto, Loulo, to the south along strike, and Sadiola, to the north along strike (see Figure 1). Additional auger holeswill test for extensions to gold-bearing hydrothermal breccias and along other mineralized trends and gold-in-augeranomalies that require additional definition.
Core and reverse circulation drilling are planned at the Gourbassi East, Gourbassi West and Barani East areas (Figure 2),Core and reverse circulation drilling are planned at the Gourbassi East, Gourbassi West and Barani East areas (Figure 2),with all 11 holes targeting extensions to know mineralization, including follow-up of an at-surface intercept of 3.52 g/tgold over 33 metres (2estimated 28 metres true thickness) at Gourbassi West and down-plunge-testing of an intercept atBarani East that returned 6.28 g/t gold over 13 metres (3estimated 11 metres true thickness). Additional air-core holes areplanned to follow up on material anomalies identified by the auger program and to follow-up on previous drill intercepts.
Jared Scharf, President and CEO comments “this is our first opportunity to follow up the obviously compelling goldJared Scharf, President and CEO comments “this is our first opportunity to follow up the obviously compelling goldmineralization at the Gourbassi East and West zones, subsequent to the acquisition of Ashanti Gold in late 2019. Theacquisition of Ashanti Gold was a timely and strategic acquisition for us as we are now in a much stronger goldenvironment. Since the acquisition, we have reviewed all historical data and updated both deposits mineralization modelsand are ready to begin testing these models. We see potential for both extending the mineralized zones along strike and todepth and for the discovery of additional, parallel lenses of gold mineralization. The first few holes are key to validatingour new models and demonstrating potential for extending the zones. Also, circumstances permitting, our plan is tocomplete more drilling than proposed above, pending the outcome of a few corporate initiatives. At Barani East we’reexcited to follow up on known economic gold zones with the aim of expanding them outside of the historic open pitresource.”
Figure 1 – SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal
Figure 2 – SMSZ Project on Color-Contoured Ansig Magnetic base with major zones and soil anomalies*
*All gold grades over width, with the exception of the Soa prospect, represent drill holes with the true widths, for most holes, ranging*All gold grades over width, with the exception of the Soa prospect, represent drill holes with the true widths, for most holes, rangingfrom 70 to 95%. **The Soa Prospect result is from a trench with true widths unknown. Estimated true widths for the Berola Prospectare unknown. True widths at the Gourbassi Zones range are estimated to range from 55% to 90%.
A total of ten holes are planned over the Gourbassi West and East areas out of a list of 26 proposed holes. These holes areA total of ten holes are planned over the Gourbassi West and East areas out of a list of 26 proposed holes. These holes aredesigned to both validate an updated geological/mineralization model, and, to test for extensions to the mineralized zones.A combination of oriented core and RC drilling is planned.
Gourbassi West Zone
The Gourbassi West Zone consists of four, interpreted, north-trending lenses of gold mineralization that have been tracedThe Gourbassi West Zone consists of four, interpreted, north-trending lenses of gold mineralization that have been tracedfor approximately 1,000 metres along strike (see Figure 3) and to 140 metres depth. Drill holes have returned intercepts to3.52 g/t gold over 33 metres (approximately 28 metres true width). Thicker mineralized zones appear to plunge shallowlyto the north. The mineralized lenses are hosted by intermediate volcanic rocks, silicified hydrothermal breccias andsediments, immediately to the east of a major, north-northeast trending, likely structural, geological contact (see Figure 3).Hydrothermal breccias are common in the Gourbassi area and are often gold bearing. The hydrothermal breccias continuefor at least 1,100 metres to the north of the Gourbassi West Zone, where weak to moderate strength, gold-in-soil anomaliesto 170 ppb gold, have been noted. Induced polarization (IP) resistivity high anomalies correlate quite well with themineralized zones, which are generally silicified, sericitic and pyritic. Several, nearby, untested IP resistivity highs will beevaluated as exploration targets.
In detail, two of the planned RC holes will test 50 metres north and south, at the same vertical elevation, of a near surfaceIn detail, two of the planned RC holes will test 50 metres north and south, at the same vertical elevation, of a near surfaceintercept of 3.53 g/t gold over 33 metres (approximately 28 metres true width). A third RC hole is a model validation holethat is expected to intersect two mineralized lenses and test for a nearby footwall lens. The fourth planned hole, is a 200-metre long core hole that will test the depth extension of three mineralized lenses, with down dip step-outs ranging from30 to 70 metres.
Figure 3 – Plan Map Gourbassi West Zone*
* True widths at the Gourbassi Zones range are estimated to range from 55% to 90%, subject to those holes drilled partially down-dip,* True widths at the Gourbassi Zones range are estimated to range from 55% to 90%, subject to those holes drilled partially down-dip,as noted above
The Gourbassi East Zone consists of at least seven, north-northeast trending lenses of gold mineralization up to 37 metresThe Gourbassi East Zone consists of at least seven, north-northeast trending lenses of gold mineralization up to 37 metres wide, that have been traced for approximately 800 metres along strike to 170 metres depth (see Figure 4). The deepest holereturned 7.49 g/t gold over 11 metres (true width approximately 6 metres). This zone is dominantly hosted by pyritic,quartz-veined, sericitic, high titanium, intermediate volcanic rocks. Felsic volcanics have been noted in the area, but, theirrelationship with the mineralized zones is uncertain. Magnetic and mapping data, indicates that the thickest part of the goldzone lies near a northerly-trending, shear zone contact with a northwesterly-trending magnetite iron formation.
Induced polarization resistivity high anomalies, correlate quite well with the trend of the gold mineralized lenses (see FigureInduced polarization resistivity high anomalies, correlate quite well with the trend of the gold mineralized lenses (see Figure4). Additional exploration targets exist along this resistivity high trend, for another 800 metres to the south, where previousholes returned up to 0.57 g/t gold over 8 metres (approximately 5 metres true thickness).
Five holes are planned to test key parts of the Gourbassi East Zone gold system. As with the Gourbassi West Zone, theFive holes are planned to test key parts of the Gourbassi East Zone gold system. As with the Gourbassi West Zone, theholes will be both validating an updated mineralization model and testing for extensions to the known mineralized lenses.Two core holes, 170 and 280 metres long, 200 metres apart, will be 50-60 metre vertical step-outs designed to test for upto seven parallel lenses of gold mineralization. Four of these lenses do not appear to reach surface, which provides anopportunity to test the entire, non-eroded, mineralized profile. The remaining three holes will test for interpreted, 40 to 50metre, vertical depth extensions to mineralized zones, with the holes expected to intersect from 1 to 3 mineralized lenseseach.
Figure 4 – Gourbassi East Zone Plan Map with Planned and Proposed Holes
* True widths at the Gourbassi Zones range are estimated to range from 55% to 90%.
The Barani East zone is a northeast-trending, sulphide replacement zone in silicified limestones. This type of alteration andThe Barani East zone is a northeast-trending, sulphide replacement zone in silicified limestones. This type of alteration andhost rock, are similar to the large Sadiola Gold Mine, located along the same structural and geological trend, approximately 50 km to the north. Multiple, moderate-southwest-plunging lenses of gold mineralization have been both identified andinferred in the Barani East area. A single core hole is planned at the Barani East Zone to test approximately 70 metresdown-plunge of 6.3 g/t gold over 13 metres (approximately 11 metres true thickness). If this hole intersects additionalstrong gold grades, two additional holes have been proposed as follow-up. The goal with Barani East, is to continue toexpand the mineralization footprint with an objective to increase the current modest indicated resource of 46,600 ozs goldgrading 2.22 g/t gold and an inferred resource of 23,300 ounces grading 2.29 g/t gold (2016, 43-101 compliant report -Technical Report on the Farabantourou Gold Mining Permit, Kéniéba District, Western Mali, Mineral Resource Update).Drilling, completed subsequent to the resource estimate, has extended the mineralized zones beyond the current in-pitestimated resource.
Air Core Drilling
Over 250 air core holes, totaling approximately 12,600 have been proposed. It is expected also that additional air core Over 250 air core holes, totaling approximately 12,600 have been proposed. It is expected also that additional air core targets will be developed through the auger drilling program. The final amount of air core drilling will be determined once the core and RC holes noted above, have been completed pending final budget numbers.
All AC, and RC samples were geologically logged following Desert Gold’s established standard operating procedures.
For AC and RC drilling, all individual samples represent approximately one-meter in length of rock chips homogenizedFor AC and RC drilling, all individual samples represent approximately one-meter in length of rock chips homogenizedand riffle-split to an approximately 2kg sub-samples which were sent by truck from the project site, for preparation andgold assaying at the SGS laboratories in Bamako, Mali.
Each sample (AC, and RC) is fire-assayed for gold by SGS laboratories in Bamako using Au-FAA505 method, which is aEach sample (AC, and RC) is fire-assayed for gold by SGS laboratories in Bamako using Au-FAA505 method, which is a50g fire assay fusion with AAS instrument finish. In addition to SGS’s own QA/QC (Quality Assurance/Quality Control)program, Desert Gold’s internal quality control and quality assurance procedures included the use of certified standards(1 :20), sample duplicates (1 :20) and blanks (1 :20). Sample batches that fail QAQC review, especially those withsignificant gold intercepts, are re-assayed with the insertion of new standards.
Ashanti Gold drill results QAQC Procedures for the Gourbassi Zones
Certified Reference Materials and Blanks were inserted into the sample stream at the rate of 1:20 samples. Field duplicatesCertified Reference Materials and Blanks were inserted into the sample stream at the rate of 1:20 samples. Field duplicatesare collected at the rate of 1:50 samples. All samples have been analyzed by SGS Laboratories in Bamako with standardpreparation methods and 50g fire assay with atomic absorption finish. SGS does their own introduction of QA/QC samplesinto the sample stream and reports them to Ashanti for double checking. Higher grade samples are reanalyzed from pulpor reject material or both.
This press release contains certain scientific and technical information. The Company is solely responsible for the contentsThis press release contains certain scientific and technical information. The Company is solely responsible for the contentsand accuracy of any scientific and technical information related to it. Don Dudek, P.Geo a director of Desert Gold and aQualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical informationcontained in this press release.
ON BEHALF OF THE BOARD
President & CEO
About Desert Gold
Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration permits inDesert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration permits inWestern Mali (SMSZ Project and Djimbala), its Anumso project in Ghana’s Ashanti Belt and its Rutare gold project incentral Rwanda. For further information please visit www.SEDAR.com under the company’s profile. Website:www.desertgold.ca
This news release contains forward-looking statements. These forward-looking statements entail various risks andThis news release contains forward-looking statements. These forward-looking statements entail various risks anduncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements.Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual resultsmay differ materially from those contained in such statements. These uncertainties and risks include, but are not limitedto, the strength of the capital markets, the price of gold; operational, funding, liquidity risks, the degree to which mineralresource estimates are reflective of actual mineral resources, the degree to which factors which would make a mineraldeposit commercially viable, and the risks and hazards associated with mining operations. Risks and uncertainties aboutth Company's business are more fully discussed in the company's disclosure materials filed with the securities regulatoryauthorities in Canada and available at www.sedar.com and readers are urged to read these materials. The Companyassumes no obligation to update any forward-looking statement or to update the reasons why actual results could differfrom such statements unless required by law. Neither the TSX Venture Exchange nor its regulation services provider (asthat term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy ofthis release. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities describedherein in the United States. The securities described herein have not been and will not be registered under the united statessecurities act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of aU.S. person absent an exemption from the registration requirements of such act.
1 Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company’s1 Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company’sSMSZ Property.