Targets Include Untested Artisanal Mining Zones at Three Sites That Returned Grab Samples in Excess of 30 g/t Au per tonne and a Conceptual Granite-Hosted Target
Delta, British Columbia, November 14, 2017. Desert Gold Ventures Inc. (“Desert Gold” or “the Company”)(TSX.V: DAU, FF: QXR2, OTC: DAUGF) is pleased to announce the start of its previously announced drill program at Segala West. The Company also recently completed a mapping, rock and soil sampling program at Yatia West; a newly discovered artisanal mining site located in the northwest of the permit.
ABOUT THE DRILL PROGRAM
The drill program currently underway consists of two phases designed to test a series of multi-kilometer long, northeast-trending structures including the following:
- The strike continuation of the east-northeast structures that host Endeavour’s Segala mine
- A parallel, northeast-trending structure that cuts a granitic body where a ‘Roxgold-type’ target has been generated
- Two northwest-trending structures that host untested artisanal mining areas that have returned grab samples up to 50 g/t Au and a very unique style of primary iron oxide related gold mineralization
- Phase 1 consists of 1,000 meters of diamond drilling for which 5 holes are planned
- Phase 2 consists of 2,000 meters of reverse circulation drilling consisting of 18 holes and 5,000 meters of air core drilling consisting of 100 holes
Desert Gold’s President Jared Scharf commented, “We are very pleased to finally begin drilling at Segala West. We have wanted to drill this target for quite sometime and are now in a position to do so. Results from surface exploration this year are very encouraging and have allowed us to refine our targets and improve our knowledge of the area. We look forward to providing guidance to the market as results come out”
Figure 1. Airborne analytical signal magnetics image of Segala West permit showing all major open pits, significant historical drill intercepts and significant values from recent grab sampling programs
NEW HIGHLIGHTS FROM THE GRAB SAMPLING PROGRAM AT YATIA WEST
Assay results from grab samples received from pit mapping and rock sampling at Yatia West returned significant high-grade gold values including the following:
- 50 g/t;
- 13.8 g/t;
- 10.9 g/t;
- 9.63 g/t; and
- 8.33 g/t
RESULTS FROM ROCK SAMPLING AND MAPPING PROGRAM AT YATIA WEST
Located to the north of the Baroya NW prospect, the artisanal mining area is roughly 450 meters in strike length and 40 meters in width. Yatia West is active with more than 100 local artisanal miners. The geology is characterized to the west by epiclastic silts and sandstone formations and to the east by detrital siltites and argillite sedimentary formations. These rock units are locally hematite, limonite and kaolinite altered. Different types of quartz veins related to the gold mineralization include individual veins, stockworks and quartz veins and associated disseminated box works with shearing. The mineralized zones strike 350 azimuth and dip 45 to 70 degrees to the west. A total of 58 samples were collected and sent to SGS Laboratories in Bamako to be assayed. Grab samples are selective samples and are not necessarily representative of the mineralisation hosted on the property.
RESULTS FROM YATIA WEST ROCK SAMPLING PROGRAM DELIVERING >1 G/T AU
ABOUT SEGALA WEST
The Segala West permit is surrounded by several large gold mines including Randgold’s Loulo-Gounkoto mine complex to the West where the company has declared resources of 51 Mt at 4.4 g/t for 5.7 million oz au Measured and Indicated, 20 Mt at 3.9 g/t for 2 million oz Au inferred and ore reserves of 32 Mt average at 4.6 g.t for 3.7 million oz Au in the Proven and Probably category.
Adjacent to the East of Segala West are Endeavour Mining’s Tabakoto and Segala mines with Kofi and Kefola prospects to the north and south respectively. The surface expression of the neighboring mine, Tabakoto (Endeavour Mining), which hosts ~3 million oz Au is less than 1 km2 (18.5 Mt at 3.5 g/t for 1.8 million oz au measured and indicated, 9 Mt at 3.6 g/t for 1 million oz Au inferred and 6.4 Mt at 3.5 g/t for 0.7 million oz au proven and probable).
This note was reviewed by Dr. Luc Antoine who is a director of the Company and is registered as a Member of the Geological Society of South Africa (MGSSA 967397). He approves the scientific and technical disclosure in the news release and has the necessary experience relevant to the style of mineralization and types of deposits under consideration and to the activity that he is undertaking to qualify as a Qualified Person as defined in the National Instrument 43-101.
ON BEHALF OF THE BOARD
President & Director
+1 (858) 247-8195
For further information please visit www.SEDAR.com under the company’s profile.
This news release contains forward-looking statements respecting the Company's ability to successfully complete the Offering. 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, including the inability of the Company to successfully complete the Offering. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; 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.
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