Delta, British Columbia–(Newsfile Corp. – July 18, 2022) – Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the “Company”) is pleased to announce results from the first RC/core hole drilled to test the Linnguekoto West Deposit, a metallurgical hole drilled into the Barani East Deposit and the first 2 holes drilled into the Mogoyafara South Deposit.
Desert Gold’s President & CEO, Jared Scharf, commented, “I’m very pleased to have drilled our first three holes at Mogoyafara South and Linngeukoto West. Drill results confirm and support the historic drilling done by Hyundai circa 2002. Obviously much more drilling is needed at these deposits as they have only been tested to shallow depths and are mostly open to depth and along strike to the North and South. The metallurgical test hole at Barani East returned significantly higher grades than anticipated which bodes well when or if mining is carried out in this area.”
The Linnguekoto West Zone, which hosts inferred mineral resources of 66,200 ounces of gold in 1.39 million tonnes of gold mineralization grading 1.48 g/t gold1, is located in the south-central part of the property (see Figure 5). One hole was drilled to acquire firsthand information as to the character of the zone. This hole returned a best intercept of 1.83 g/t Au over 27* metres including 2.25 over 20.7 metres and 26.5 g/t Au over 1.0 metres. As well, this hole returned a new gold lens intercept of 0.61 g/t Au over 23.8 metres, including 1.26 g/t gold over 5 metres and 0.64 g/t gold over 8.9 metres (Figure 1). The zones are hosted by moderately to intensely fractured and quartz veined siltstones, shales, limestone and micro-conglomerate (Figure 2). The Linnguekoto West Zone is interpreted to represent a steep-dipping higher-grade structure flanked by a series of shallow-dipping, gold-bearing dilational structures. More drilling is required to validate this model.
* True width is estimated at 13 metres
** True width unknown
1 March 3, NI-43-101 compliant report (NI 43-101 Technical Report on the SMSZ Project, Mali, Mineral Resource Report” with an effective date of January 12, 2022)
Figure 2. Core from Linnguekoto West hole KO-22-RCD-001 showing quartz vein healed, fractured siltstone and shale
* Estimated true thickness 13 metres
** Estimated true thickness unknown as hole was drilled down dip for collection of metallurgical samples
The Barani East metallurgical hole returned higher than expected grades returning 12.41 g/t gold over 45 metres (true width is unknown – see Figure 3). Nearby holes, that intersected the zone returned 7.82 g/t gold over 13 metres, 5.66 g/t gold over 16 metres and 1.5 g/t gold over 25 metres and 1.58 g/t gold over 7 metres. (True width in these holes is estimated at 80-90% of drilled length). The goal for this hole was to collect enough oxidized mineralization in one hole for a series of metallurgical and geotechnical tests and as a result was drilled mostly down dip. Core from this hole will be used to evaluate the gravity gold, heap leach and geotechnical characteristics of the oxidized upper portion of the Barani East Zone (see Figure 5 for location of the zone). Previous metallurgical work estimates gravity gold recoveries up to 64% with typical CN leach recoveries, together totalling up to 98.6%.
The final 2 holes of the program began the testing of the Mogoyafara South Zone (see Figure 5 for location) with two pit areas tested with holes approximately 800 metres apart. Gold mineralized zones were intersected where expected with better than expected widths of mineralization in hole KO-22-RC-001 with an intercept of 0.75 g/t Au over 17 metres (true widths estimated to be 88% of drilled width – Figure 4). Based on holes, 25 metres on either side, an 8-10 metre wide zone was expected (see Figure 4). Most of the gold mineralization in this hole is hosted by felsic intrusion. Less mineralization than expected was intersected in hole KO-22-RC-002. This hole, however, ended in gold mineralization, suggesting that the gold-bearing system is still open to depth. A significant amount of drilling is still required both to validate and test for zone extensions.
Figure 5. Plan Map Mineral Deposits and Zones, significant drill hole intercepts*, soil geochem summary on color-contoured analytical signal; magnetic data
*All gold grades over width, with the exception of the Soa, Berola and Gourbassi prospects, represent drill holes with the true widths, for most holes, ranging from 65 to 95%. Estimated true widths for the Soa and Berola prospects are unknown. Estimated true widths at the Gourbassi Zones are estimated to range from 60% to 90%.
Wire framing of the GWN lenses is in progress with a goal to plan additional drill holes and update the resource estimate. Auger and additional AC holes to the north and east of the Gourbassi West North Zone, as well as follow-up to 2021 drill and auger results, which were not completed during the recent program, still need to be drilled. A highlight summary of the 2021 high priority targets requiring follow-up include the following:
||– 2.04 g/t gold over 30 metres|
||– 1.80 g/t gold over 17 metres|
||– 1.65 g/t gold over 21 metres|
| Sorokoto South
||– 2.68 g/t gold over 6 metres|
||– gold in auger values of 8,650, 3,100, 2.370, 462 and 440 ppb gold|
A detailed review of the metallurgy and mineability of the oxide gold resources, with a start at the higher-grade Barani East Deposit, is in progress.
A follow-up drill program is being designed for the Gourbassi West North, Mogoyafara South and Linnguekoto West deposits.
All auger and drill samples are delivered to SGS in Bamako, Mali where they are prepped. The prepped samples, are both shipped by truck to SGS’s facility in Ouagadougou, Burkina Faso, or remain at SGS’s laboratory in Bamako, for Au determination by fire assay. Standards, assay blanks and sample duplicates, are inserted into the assay stream every 22 to 30 samples, respectively equaling one control sample for every approximately every 8 assay samples. All assay batches are reviewed for quality with re-assays requested 20 samples on either side of standards that assay more than 2 to 3 SD from an excepted value and for blanks that contain more than 10 ppb gold.
Ashanti Gold drill results QAQC Procedures for the Gourbassi East and West Zones
Certified Reference Materials and Blanks were inserted into the sample stream at the rate of 1:20 samples. Field duplicates are collected at the rate of 1:50 samples. All samples have been analyzed by SGS Laboratories in Bamako with standard preparation methods and 50g fire assay with atomic absorption finish. SGS does their own introduction of QA/QC samples into the sample stream and reports them to Ashanti for double checking. Higher grade samples are reanalyzed from pulp or reject material or both.
Hyundai QAQC Procedures
Desert Gold does not have any information regarding Hyundai’s QAQC procedures at the Linnegukoto West Zone. However, based on follow-up of historic drill results in the Barani Area indicates an acceptable level of accuracy.
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 both Qualified Persons under National Instrument 43-101, have reviewed and approved the scientific and technical information contained 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 in Western Mali (SMSZ Project and Djimbala) and its Rutare gold project in central Rwanda. In Mali, Desert Gold’s SMSZ property hosts Measured and Indicated Mineral Resources of 8.47 million tonnes grading 1.14 g/t gold totaling 310,300 ounces and Inferred Mineral Resources of 20.7 million tonnes grading 1.16 g/t gold totaling 769,200 ounces. 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 and uncertainties 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 results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, liquidity risks, the degree to which Mineral Resource estimates are reflective of actual Mineral Resources, the degree to which factors which would make a mineral deposit commercially viable, and the risks and hazards associated with mining operations. Risks and uncertainties about the Company’s business are more fully discussed in the company’s disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. The Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States securities act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such act.
Jared Scharf, President and CEO
Tel. No.: +1 (858) 247-8195
Table 1. Summary of Significant Assays
|BHID||FROM (m)||TO (m)||LENGTH (m)||Au_g/t|