The GWN Zone remains Open to Depth and along Strike to the South
Delta, British Columbia–(Newsfile Corp. – June 30, 2022) – Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the “Company”) is pleased to announce results from 13 RC holes and 78 AC holes drilled to test the depth, strike extent and continuity of the Gourbassi West North Zone at the Company’s SMSZ Project in Western Mali. All RC holes intersected significant amounts of gold mineralization with a highlight intercept of 1.91 g/t gold over 32* metres.
The Gourbassi West Zone has been traced for 1,600 metres along strike and to 175 metres depth. Up to five lenses of gold mineralization have been modelled with the GWN-A Lens the most continuous and best developed. Highlight drill results from this part of the program include the following:
- RC-049 – 1.91 g/t gold over 32.0 metres *- A Lens
- AC-172 – 1.02 g/t gold over 49 metres* – A Lens
- RC-050 – 1.02 g/t gold over 44 metres* – A Lens
- RC-052 – 0.79 g/t gold over 47 metres* – A Lens
- RC-048 – 0.68 g/t gold over 51 metres*- A Lens
- RC-049 – 0.60 g/t gold over 48 metres* – C Lens
- AC-171 – 0.97 g/t gold over 29 metres* – Lens B
- AC-138 – 0.69 g/t gold over 33 metres* (hole ended in mineralization) – Lens A
- RC-042 – 0.95 g/t gold over 22 metres* – A Lens
- RC-050 – 0.93 g/t gold over 22 metres* – Lens C
- AC-136 – 0.56 g/t gold over 35 metres** (hole ended in mineralization) – A Lens
- RC-053 – 0.54 g/t gold over 34 metres* – A Lens
- AC-170 – 0.82 g/t gold over 21 metres* – B Lens
- RC-043 – 0.74 g/t gold over 20 metres* – A Lens
- RC-054 – 0.56 g/t gold over 25 metres* — A Lens
- AC-070 – 0.50 g/t gold over 26 metres* (hole ended in mineralization) – A Lens
- RC-053 – 0.41 g/t gold over 29 metres* – B Lens
- AC-069 – 0.59 g/t golf over 19 metres* – A Lens
* True widths are estimated at 65 % of drill widths
Jared Scharf, President and CEO commented “Our recent drilling continues to return numerous, wide intercepts of gold mineralization along a 1.6 km long zone with up to 5 lenses of gold mineralization encountered along a 130-metre-wide corridor. This recently defined gold system, which is not part of our current resource, shows the tremendous gold endowment of the region and the potential for resource expansion and additional discoveries at the SMSZ Project.”
The Gourbassi West North (GWN) Zone, which was discovered in July 2021, lies near the west side of the SMSZ property package (Figure 4). Drilling has identified up to five lenses of gold mineralization with one lens GWN-A, having the best continuity along a 1,600 metre strike (see Figure 1). Lenses D and E are not well defined and more drilling is required to determine their extent.
In 2022, a total of 94 holes totalling 4,372.5 metres of drilling have been completed over the GWN Zone including 3 core holes totalling 605.5 metres, 14 RC holes totalling 1,854 metres and 78 AC holes totalling 2,066 metres (see Figure 1 for drilling plan view). These holes were designed to test the extent of the GWN Zone for 1,800 metres along strike to a depth of 175 metres. The widest gold zones occur proximal to the west side of a rotated portion of a fault zone and silicified hydrothermal breccia. Mineralization generally dips steeply to the west, but hole FR-DD-22-009 suggests that locally the mineralization may also dip to the east. An updated section of the central, strongest part of the GWN zone is presented in Figure 2. Individual assays range up to 8.68 g/t Au over 0.4 metres in the strongest part of the GWN-A lens. Please refer to Table 1. at the end of this press release for a summary of significant drill intercepts.
A long section of the GWN-A Lens displays an approximate 350-metre-long, higher grade and width portion of the lens with extensions to the north and south (Figure 3). Results to date show that AC holes have closed off the zone to the north, but the zone is still open to the south towards the Gourbassi West Deposit. Overall, the system, especially the GWN-A Lens, is still open to depth below the deepest intercept at 175 metres vertical from surface.
Figure 1. Plan view Gourbassi West North Zone and Gourbassi West summarized drill results and completed drilling
Figure 2. Cross-section 1487775 N, Gourbassi West North Zone
Figure 3. Long section GWN-A Lens
The mineralized zones are dominantly hosted by micro-conglomerate. Lesser amounts of conglomerate, limestone and shale have also been noted. Alteration consists of disseminated to veinlet pyrite and local disseminated arsenopyrite in a weakly to moderately sericitized and silicified conglomerate. Quartz pyrite veinlets vary from banded (see Figure 4) to non-banded.
Figure 4 – Mineralized micro-conglomerate in hole DD-009 – 167.76 to 168.06 -part of 0.70 metre sample that returned 2.4 g/t gold
Several samples of GWN Zone fresh rock have been selected for timed leach analysis as part of an initial metallurgical study of the GWN Zone. This work will be carried out by SGS Ouagadougou once the samples have been forwarded from Bamako.
Assays are pending for the two holes drilled at Mogoyafara South (Inferred Mineral Resources of 412,800 ounces of gold at 1.08 g/t gold), the one RC/DD hole drilled to test the Linneguekoto West zone (Inferred mineral resource of 66,200 ounces at 1.48 g/t gold) and for the metallurgical hole drilled at Barani East (Measured and Indicated mineral resources of 91,200 ounces of gold grading 1.90 g/t gold and Inferred mineral resources of 133,900 ounces of gold grading 1.54 g/t gold). Mineral resource estimates were presented in a news release on January 17, 2022.
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:
|Sola||– 2.04 g/t gold over 30 metres|
|Kamana||– 1.80 g/t gold over 17 metres|
|Manakoto||– 1.65 g/t gold over 21 metres|
|Sorokoto South||– 2.68 g/t gold over 6 metres|
|Frikidi||– gold in auger values of 8,650, 3,100, 2,370, 462 and 440 ppb gold|
Another high priority target lies approximately 2,400 metres to the northwest of the Gourbassi West North Zone and is believed to be another Gourbassi West North like target. This area requires drill testing.
Five composite samples including two from the Gourbassi West North, one from the Linnguekoto West and two from the Mogoyafara South Zones will be subjected to timed bottle roll analysis to determine preliminary cyanide leach gold recoveries.
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.
Once assay results for the Mogoyafara South and Linnguekoto West deposits have been received and evaluated, a follow-up program will be designed.
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
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Table 1. Summary of Significant GWN Drill results
1Previously released assay composites
*True widths are estimated at 60-70% of drilled length with exception of AC-146 to AC-148 where true widths are estimated at closer to 50% of drilled length.