Delta, British Columbia–(Newsfile Corp. – December 3, 2020) – Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) (the “Company”) is pleased to announce that it has commenced the Company’s largest exploration program to date at its flagship Senegal Mali Shear Zone project in Western Mali (the “SMSZ Project”). The 410 km2 SMSZ Project is both named after and overlies a 38 km section of the Senegal Mali Shear Zone (the “SMSZ”). The SMSZ 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 Allied Gold’s Sadiola and Yatela Mines1. To the Company’s knowledge, the SMSZ Project is the largest, contiguous, non-producer land package over this highly prospective structural feature (see Figure 1.).
Field work recommenced at the SMSZ Project on December 2, 2020. The goal of the exploration program is to develop/discover a stand-alone deposit(s). Exploration will comprise drilling to advance known gold zones and soil, auger and IP surveys to identify new targets, with real-time follow-up of new drill results and testing of newly developed targets. A summary of the planned program is presented in Figure 2 below.
Jared Scharf, President and CEO commented, “I’m very pleased to begin this work season fully funded with a highly experienced operating team on the ground. The SMSZ project is one of the largest gold exploration projects in West Africa and is ideally situated along the prolific Senegal Mali Shear Zone. This project will be our main focus this year as it hosts a myriad of highly prospective, advanced and early-stage targets in the right regional setting. Looking forward into 2021, we expect consistent news flow throughout the year as results are published while we continue developing new and existing targets.”
Planned Exploration Program
- Fully Funded 20,000 metres of drilling with contingency of 20,000 metres of additional drilling – Drilling starts early January 2021
- Follow-up on Gourbassi West, Gourbassi East and Barani East Zones.
- Continue to trace gold mineralization from Barani East northeast to Soa and south to Keniegoulou.
- Follow up drill testing at Gourbassi NE, Goubassi SE, Berola, Frikidi, KE, Komana and Manakoto zones.
- Test gold-in-auger targets.
- Contingency metres will follow-up drill success.
- Up to 20,000 metres of auger drilling
- Auger drilling will commence in mid-December to follow up on 2020 auger anomalies.
- Testing for gold mineralization along thinly-covered laterite, and/or, not yet evaluated, regional scale structures.
- 75-line km of induced polarization gradient geophysical surveys
- Five grid areas, with four covering structural targets related to the SMSZ and one covering a felsic intrusion that hosts gold mineralization.
- Survey to start mid-December.
- 6,000 soil samples
- Test 3 areas comprising ~100 km2, that have not been soil sampled, mapped or drilled.
- Geological mapping and prospecting
- Approximately 55% of the property still requires mapping and prospecting.
- Complete a 43-101 compliant report in Q4, 2021
- This report was put on hold in Q4,2020 in order to complete the previously planned drilling on the Gourbassi West, Gourbassi East and Barani East Zones, and, in light of the large, currently planned program, the Company determined, along with discussions with our technical consultants, that it would be prudent to delay the publication of the technical report until after the Company evaluated the results of the current field program.
- Comment from Uwe Engleman P.Geo, Director, Minxcon Consulting, ‘We have been working with Desert Gold on a technical evaluation of their SMSZ Property in Western Mali. This review has included validation of mineralization models for select zones and an overall discussion about the property. Based on the planned work program of soil sampling, >10,000 metres of auger drilling, geophysical surveys, the continuation of geological mapping and 20,000 metres of drilling, all to be caried out in approximately the next seven months, our conclusion, is that it would be prudent and cost effective to wait for the additional exploration data so that a more fulsome presentation of the properties’ exploration potential can be presented in a 43-101 compliant report. This would allow Desert Gold to finish the previously planned drill program so that they can complete the validation of the mineralization models that they have developed.‘
Figure 1 – SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4954/69391_75d9ad0f64726be7_001full.jpg
Figure 2 – Overview of 2020-21 Exploration Planning to Date with Highlighted Historic Drilling Results**
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4954/69391_75d9ad0f64726be7_002full.jpg
**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%.
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.
On Behalf of the Board
“Jared Scharf”
___________________________
Jared Scharf
CEO & Director
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), its Anumso project in Ghana’s Ashanti Belt and its Rutare gold project in central Rwanda. For further information please visit www.SEDAR.com under the company’s profile. Website: www.desertgold.ca.
Contact
Jared Scharf, President and CEO
Email: [email protected]
Tel. No.: +1 (858) 247-8195
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.
1 Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company’s SMSZ Property.
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