News Releases

Delta, British Columbia, December 15, 2020 Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) is pleased to announce that its joint venture partner, Indigo Exploration, has begun its work program at the Djimbala gold project in southern Mali, West Africa, 220 km south of the capital of Bamako. Work crews are now in the field at Djimbala. The phase 1 program will consist of 623 auger drill holes focused on the two highest priority targets, Djilefing and Forela, with the aim to prioritize targets prior to a phase 2 air core (AC) drilling program.

The Djilefing target covers 2.5 kilometres by 2 kilometres of artisanal workings that indicate at least 3, northly- to northeast-oriented trends of gold mineralization. Some 300m north of the permit, along a northerly extension of the Djilefing target, previous drill holes returned 2.59 g/t Au over 6m. As well, the 1.5 kilometre long, north-trending Forela target area, also aligns with drilling 300m north of the Djimbala Permit that returned drill intercepts of 4.75 g/t Au over 6m, 3.13 g/t Au over 6m and 2.45 g/t Au over 8m (See Figure 1).

The Djimbala Permit is situated in the Yanfolila Gold Belt and is surrounded by a significant number of gold deposits, mines and prospecting permits. The Djimbala Permit lies immediately east of Hummingbird Resources’ 0.7 million oz Au Komana gold mine1, 21 kilometres north, along strike, of the Kodieran gold mine and 28 kilometres north, along strike, from Endeavour’s high grade 3.3 million oz Au Kalana project2 (See Figure 1).

Jared Scharf, President and CEO of Desert Gold commented, “I’m very pleased to see Indigo moving forward with this exciting work program. Desert Gold is a material shareholder of Indigo and as such we wish them the best of luck this coming work season.”

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

NR dec 15 Desertgold

Figure 1. Regional Map of the Djimbala Project

 

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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.

 

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.'

map1

Figure 1 - SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal

 

map2

Figure 2 - Overview of 2020-21 Exploration Planning to Date with Highlighted Historic Drilling Results**

**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: This email address is being protected from spambots. You need JavaScript enabled to view it.
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.

 

Delta, British Columbia, September 23, 2020.  Desert Gold Ventures Inc. (“Desert Gold” or “the Company”) (TSX.V: DAU, FSE: QXR2, OTC: DAUGF) is pleased to present the results of a recently completed air core (“AC”) and auger drill program, comprising 34 AC holes and 1,065 auger holes on its SMSZ Project in Western Mali, near the border with Senegal.

The ~410 km2 SMSZ Project is both named after, and, overlies a 38-km section of the Senegal Mali Shear Zone (see Figure 1), which is related to 5 large gold mines located both to the north and south, along strike, including B2 Gold’s Fekola Mine, Barrick’s Gounkoto and Loulo Mines and AngloGold Ashanti/Iamgold’s (now 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 very prospective structural feature. Exploration targets within 5 km of the Senegal Mali Shear Zone, are considered by management, to be high priority exploration targets.

A summary of the drill highlights* are as follows. A property scale map with zone locations is presented in Figure 2,the summary details of this release are presented in Figure 3 and a table of significant results is presented in Table 1.

Sorokoto North (new zone)

    • 3.94 g/t gold over 4 metres
    • 2.08 g/t gold over 5 metres
    • 0.84 g/t gold over 5 metres

Barani Gap

    • 2.13 g/t gold over 3 metres
    • 1.24 g/t gold over 7 metres
    • 0.75 g/t gold over 17 metres
    • 0.95 g/t gold over 11 metres

Soa South (new zone)

    • 0.89 g/t gold over 7 metres

      Kolon (new zone)

    • 3.96 g/t gold over 3 metres

Auger

    • 10 samples > 300 ppb Au including 2,030 ppb Au, 1,527 ppb Au and 996 ppb Au, 58 auger sites >50 ppb Au

* Estimated true widths for the holes for the Barani Gap holes is 80% to 90% of the intercept width. The true width of the Sorokoto North, Soa South and Kolon Zones is unknown at this time.

Jared Scharf, Desert Gold’s CEO commented “We’re very encouraged by these results. Our air core results have both continued to expand the scope of recently discovered gold mineralization at the Barani Gap and resulted in the discovery of new gold zones at Sorokoto North, Kolon and Soa South. As well, the new auger results further emphasize that, in our opinion, we will find more gold zones.” Mr. Scharf also noted that “with a recently topped up treasury, we have the funds to further advance and test these targets as they are being developed.”

Desert Gold News Sept 23 01

Figure 1 – SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal

Desert Gold News Sept 23 02

Figure 2 – Property Scale Compilation Map

Desert Gold News Sept 23 03

Figure 3 – SMSZ Project Map with Highlighted Auger and AC results**

**All gold grades over width, with the exception of the Soa, Soa South, Sorokoto North, Kolon, 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, Soa South, Sorokoto North, Kolon and Berola prospects are unknown. Estimated true widths at the Gourbassi Zones are estimated to range from 60% to 90%.

Technical Details

Air Core Drilling

A short AC program was carried out to follow-up on the results from previous AC holes in the Barani Gap area, over a specific target at Sorokoto North and over the recently acquired Solo West Concession (see Figures 2 and 3). Significant results were returned from all three target areas. Note that AC holes can only test the near-surface, strongly weathered rocks and generally are not more than 50 metres deep.

A total of 17, Barani Gap AC holes, over six targets, were drilled to follow-up on previous AC holes that had returned good gold values as a follow-up to testing gold-in-auger anomalies. Four of the six targets areas returned significant gold results. The best hole, which lies along a 2,100-metre long gold-bearing trend, which includes the Barani East Zone, returned 0.75 g/t gold over 17 metres as a 50-metre northerly step-out of a previous hole that intersected 3.03 g/t gold over 10 metres. In-fill drilling is required along this carbonate-hosted gold-bearing trend, which has only been partially detail drilled along an 800-metre portion. The second-best hole, returned 0.94 g/t gold over 12 metres, from a parallel trend located approximately 100 metres to the east. Note that three internal samples were missing (assumed internal values of 0 g/t gold) due to likely artisanal mining depletion. This hole was drilled as a 50 metre north step out to an intercept that returned 1.36 g/t Au over 6 metres.

Two short, wide-spaced (approximately 3 km apart) drill fences, totalling 11 holes, were completed proximal to artisanal mining areas, over the recently acquired Sola West concession. These are the first recorded holes in this area, which lies along a structural zone, which extends from the Barani East Zone through to the Soa Zone (highlight drill intercept of 2.03 g/t Au over 30 metres). Significant drill intercepts were returned from both target areas, with the southern fence returning a best intercept of 3.96 g/t Au over 3 metres and the northern fence returning a best intercept of 0.89 g/t Au over 7 metres. The northern most drill fence also returned wide, low grade, but strongly anomalous gold values in five of the six AC holes, suggesting the presence of a large mineralized system

The third target area, Sorokoto North, is a new discovery. It is located proximal to another northeast trending cross structure, much like the Barani East-Soa Zone structural trend. Three of the six holes returned significant drill results with holes DJ-20-AC-001 and DJ-20-AC-003 returning intercepts of 0.84 g/t Au over 5 metres, 3.94 g/t Au over 4 metres and 2.08 g/t Au over 5 metres.

Auger Drilling

A total of 1,065 auger holes were drilled along 23, wide spaced drill fences over, dominantly, laterite-covered areas (see Figure 3 for general auger hole locations and highlight results). The auger holes, along the drill fences, are spaced 25 metres apart and average 9 metres deep ranging from 3 to 27 metres deep. Two samples are taken in each hole corresponding to the base of the laterite and the upper part of the saprolite (weathered rock). The purpose of the auger drilling was to test below large, laterite-covered areas, where previous work is limited to non-existent and where soil sampling is not an effective tool for the discovery of sub-cropping gold zones. The goal of this program was to identify areas with gold enrichment and then follow-up with more detailed auger drilling and subsequent testing of anomalies. This program resulted in 58 auger sites returning gold values >50 ppb gold with 25 of the sites returning >100 ppb gold, with a best result of 2,030 ppb gold. In-fill auger lines, spaced from 200 to 400 metres apart, will be completed to better define the gold-in-auger anomalies, so that drill targets can be developed. Previous auger drilling on the property, returned five significant drill intercepts with a best intercept of 3.03 g/t gold over 10 metres, from the Barani Gap area.

The five longest auger lines, up to 4.4 km long and approximately 1.3 to 2 km apart, were completed over an extensive, laterite-covered area that overlies an area to the east of the interpreted location of the Senegal Mali Shear Zone. Significant gold-in-auger anomalies, and wide areas of gold enrichment (20 to 50 ppb gold) were returned from all five lines.

Eight, up to 1,000-metre long auger lines were completed proximal to the new Kolon and Soa South Zones. These scattered lines were first pass auger drill tests over areas with anomalous soil values, and/or laterite covered areas. Gold-in-auger values ranged up to 966 ppb gold with seven sites returning >50 ppb gold. Follow-up auger drilling is required.

Three short auger lines were completed to test laterite-covered areas to the north of the Berola gold occurrence (previous intercept of 1.03 g/t gold over 18 metres – true width unknown). The Berola occurrence is hosted by a hydrothermal breccia that is located adjacent to a manganese/hematite iron formation exhalate unit, in a similar setting to the Gourbassi NE zone, located approximately, 5.5 km to the southwest. This exhalate horizon lies proximal to a likely structure, defined by a change from higher to lower magnetic susceptibility, that separates volcanic rocks to the west, from conglomerates (in part ‘Tarkwa-looking’) and siltstones to the east. All three auger lines returned anomalous gold-in-auger results, with the two, southernmost lines returning the best results and a local high value of 366 ppb gold.

One other auger line, located in the extreme southeast corner of the property, returned a single strong gold value of 364 ppb gold. This auger line was installed to partially test an area where the Senegal Mali Shear Zone appear to bifurcate.

Next Steps

Work on a 43-101 technical report has commenced with the selection of a consultant and continued updating of the mineralization models. The results of this report, including an exploration plan, are expected to be released in late October or early November, with field exploration, including approximately 20,000 metres of drilling, is expected to resume in November, and then continue through to early July, 2021.

QAQC

All AC samples were geologically logged following Desert Gold’s established standard operating procedures.

For AC drilling, all individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2kg sub-samples which were sent by truck from the project site, for preparation and gold assaying at the SGS laboratories in Bamako, Mali.

Each sample (auger and AC) is fire-assayed for gold by SGS laboratories in Bamako using Au-FAA505 method, which is a 50g 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 (1:20-30), sample duplicates (1 :20) and blanks (1 :20). Sample batches that fail QAQC review, especially those with significant gold values, are re-assayed with the insertion of new standards.

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.

About Desert Gold

Desert Gold Ventures Inc. is a gold exploration and development company that holds 2 gold exploration projects in Western Mali (SMSZ and Djimbala) and its Rutare gold project in central Rwanda. The Company’s current focus is its 410 km2 SMSZ Project that spans approximately 38 km of the prolific Senegal Mali Shear Zone.

On Behalf of the Board of Directors

“Sonny Janda”

____________________
Sonny Janda, Chairman

Contact:
Jared Scharf, President & CEO
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel. No.: +1 (858) 247-8195

For further information please visit our website www.desertgold.ca or information available on www.SEDAR.com under the company’s profile.

Certain statements contained in this release may constitute "forward–looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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.

Table 1 – Summary of Significant Drill Intercepts

BHID

FROM

TO

LENGTH

Au_ppm

Prospect

DJ-20-AC-001

33

34

1

0.64

Sorokoto North

DJ-20-AC-001

37

48

11

0.51

Sorokoto North

includes

43

48

5

0.84

Sorokoto North

DJ-20-AC-003

8

12

4

1.09

Sorokoto North

DJ-20-AC-003

19

22

3

0.66

Sorokoto North

DJ-20-AC-003

28

32

4

3.94

Sorokoto North

DJ-20-AC-003

38

42

4

0.5

Sorokoto North

DJ-20-AC-003

45

50

5

2.08

Sorokoto North

DJ-20-AC-004

19

27

8

0.32

Sorokoto North

DJ-20-AC-004

20

22

2

0.69

Sorokoto North

DJ-20-AC-004

30

47

17

0.32

Sorokoto North

includes

32

33

1

0.72

Sorokoto North

includes

37

39

2

1

Sorokoto North

DJ-20-AC-004

68

71

3

0.54

Sorokoto North

FA-20-AC-002

17

28

11

0.33

Barani Gap

FA-20-AC-003

17

24

7

1.24

Barani Gap

FA-20-AC-003

29

30

1

0.68

Barani Gap

FA-20-AC-004

47

48

1

2.39

Barani Gap

FA-20-AC-005

37

39

2

0.77

Barani Gap

FA-20-AC-005

42

43

1

0.54

Barani Gap

FA-20-AC-006

41

44

3

2.13

Barani Gap

FA-20-AC-006

59

60

1

0.57

Barani Gap

FA-20-AC-009

13

30

17

0.75

Barani Gap

FA-20-AC-010

5

18

13

0.18

Barani Gap

FA-20-AC-010

21

22

1

0.96

Barani Gap

FA-20-AC-017

9

21

12

0.95

Barani Gap

SW-20-AC-001

5

20

15

0.13

Soa South

SW-20-AC-001

27

48

21

0.21

Soa South

SW-20-AC-002

14

25

11

0.41

Soa South

SW-20-AC-003

27

38

11

0.14

Soa South

SW-20-AC-004

34

44

10

0.28

Soa South

SW-20-AC-006

9

25

16

0.35

Soa South

SW-20-AC-006

58

65

7

0.89

Soa South

SW-20-AC-006

60

62

2

2.49

Soa South

SW-20-AC-007

20

21

1

0.86

Kolon

SW-20-AC-008

15

18

3

3.96

Kolon

SW-20-AC-008

23

25

2

0.98

Kolon

SW-20-AC-008

30

31

1

0.94

Kolon

SW-20-AC-008

37

38

1

1.68

Kolon

SW-20-AC-009

12

13

1

1.41

Kolon

SW-20-AC-009

34

36

2

1.36

Kolon

SW-20-AC-009

41

42

1

1.15

Kolon

SW-20-AC-011

2

3

1

2.44

Kolon

SW-20-AC-011

10

11

1

0.72

Kolon

Table 1 - Detailed Drill Hole Assay Summary

1Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company’s SMSZ Property.

3.09 G/T Gold Over 25 Metres* And 2.54 G/T Gold Over 15 Metres* And 
4.76 G/T Gold Over 13.5 Metres*

Delta, British Columbia, August 31, 2020.  Desert Gold Ventures Inc. (“Desert Gold” or “the Company”) (TSX.V: DAU, FSE: QXR2, OTC: DAUGF) is pleased to present the results of a recently completed, 2,138.5 metre drill program comprising 4 core holes and 10 reverse circulation (RC) holes on its SMSZ Project in in Western Mali, near the border with Senegal.

The ~410 km2 SMSZ Project is both named after, and, overlies a 38 km section of the Senegal Mali Shear Zone (see Figure 1), which is related to 5 large gold mines located both to the north and south, along strike, including B2 Gold’s Fekola Mine, Barrick’s Gounkoto and Loulo Mines and AngloGold Ashanti/Iamgold’s (now Allied Gold’s) Sadiola and Yatela Mines[1]. To the Company’s knowledge, the SMSZ Project is the largest, contiguous, non-producer land package over this very prospective structural feature. Exploration targets within 5 km of the Senegal Mali Shear Zone, are considered by management, to be high priority exploration targets.

Desert Gold carried out a 51-hole drill program during June and July, 2020. Model driven targets were tested at the Gourbassi East, Gourbassi West and Barani East Zones (see Figure 2). This news release includes results from 14 RC and core holes completed over these three zones. Results for the 34 AC totalling 1,621 metres and 1,065 auger holes are still pending.

A summary of the drill highlights* are as follows (see Figures 3-6 for more detail and Table 1, at end):

Barani East

      • 4.76 g/t gold (3.81 g/t gold cut to 30 g/t gold) over 13.5 metres and 2.49 g/t gold over 5.1 metres

Gourbassi East

      • 3.09 g/t gold over 25 metres and 2.54 g/t gold over 15 metres
      • 1.66 g/t gold over 14 metres
      • 1.34 g/t gold over 5 metres

Gourbassi West

      • 1.02 g/t gold over 15 metres
      • 1.68 g/t gold over 6 metres
      • 0.75 g/t gold over 20 metres

* Estimated true widths for the holes is from 65 to 90% of the intercept width.

Jared Scharf, Desert Gold’s CEO comments “During two drill campaigns in the recent drill season, we completed approximately 40% of approximately 20,000 metres of proposed drilling. This work has resulted in the discovery of at least five new areas of gold mineralization, validation of the updated mineralization models at the Gourbassi and Barani East Zones and further increased the scope of the SMSZ Project. With this exploration base, the Company is prepared to execute the largest exploration program it has ever undertaken, over which, management believes, is some of the most prospective ground in West Africa.”

Desert Gold News Aug 10 img 01

Figure 1 – SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal

 

Desert Gold News Aug 10 img 02

Figure 2 - Property Scale Compilation Map**

**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%.

Technical Details

The phase 2 drill program was carried out to test model-driven targets at Gourbassi West, Gourbassi East and Barani East zones. Significant amounts of gold mineralization were intersected at all three zones, which will require additional follow-up drilling.

Gourbassi East

Five RC and 2 core holes were drilled to test an updated mineralization model at Gourbassi East (Figure 3). Four of the holes intersected significant amounts of gold mineralization. With a highlight of 3.09 g/t Au over 25 metres.

The RC drilling was successful in extending two of the mineralized trends to the south. The best results were returned from RC hole, FR-20-RC-002, which was drilled to the east to test for the southward extension of the main mineralized corridor. This hole, which was is a 75 metre south step out, intersected two intercepts of 2.54 g/t gold over 15 metres starting at 75 metres down hole and 3.09 g/t Au over 25 metres starting at 103 metres down hole. Additional drilling is required to the north and south of this intercept to better define this unexpectedly strong zone of gold mineralization. A second hole, on this drill section, FR-20-RC-003, which was drilled to the west to confirm the updated mineralization model, intersected a third, gold-bearing intercept that returned 0.71 g/t gold over 8 metres, where expected, at a vertical depth of approximately 100 metres.

FR-RC-20-001, which tested the north end of the mineralized trend, was drilled 26 metres below an intercept of 1.71g/t Au over 7 metres. One narrow intercept of 0.75 g/t Au over 1 metre was intersected near the top of the hole. A working theory indicates that this hole was drilled below the plunge of the zone.

RC hole, FR-20-RC-004, intersected 1.66 g/t gold over 14 metres starting at 42 metres and a 2nd, deeper intercept of 1.34 g/t Au over 5 metres starting from 154 metres down hole. This west facing hole was drilled to cut across a previous hole that appeared to drill partially down dip and to test a 2nd parallel lens of mineralization with a 75 metre south step out. This hole was deemed a success as it both extends and validates a parallel system of gold mineralization to the west of the initial Gourbassi East Zone discovery.

FR-RC-20-009 was drilled to test the northern strike extension of the western most Gourbassi East gold lenses. It intersected two narrow gold zones, where expected, that returned 0.78 g/t Au and 0.66 g/t Au each over 1 metre.

Hole FR-20-DD-001, tested approximately 58 metres below intercepts of 1.96 g/t Au over 8 metres and 0.77 g/t Au over 11 metres. This hole succeeded in intersecting the two zones with weaker intercepts of 1.25 g/t Au over 1.5 metres and 0.19 g/t Au over 15 meters. This hole again supports the theory that individual gold lenses have a flat plunge and that the hole was drilled below the plunge of the higher grade portion of the zone.

Hole FR-20-DD-002, was drilled to test for parallel mineralized lenses located to the east of the main gold-bearing lens. This 280-metre long hole intersected 10 mineralized intervals with 4 of the lenses returning assay composites greater than 0.5 g/t Au. The initial intercept returned 1.46 g/t Au over 9.3 metres (estimated 6.5 metres true thickness) from 89.9 metres. This intercept correlates with nearby intercepts of 7.29 g/t Au over 3 metres and 1.54 g/t Au over 7 metres in holes 25 metres to the north and south, respectively. This lens of gold mineralization has been traced for 175 metres along strike and is open to the north. It appears to represent a northerly-trending splay off of the central part of the north-northwest-trending Gourbassi East Zone. The 2nd strong intercept in this hole returned 2.38 g/t Au over 5.2 metres (estimated 3.6 metres true thickness) from 175.5 metres. This intercept correlates with an intercept of 5.48 g/t Au located approximately 40 meters up dip. This lens has been traced for approximately 150 metres along strike and is open to the north. The 3rd material intercept returned 1.26 g/t Au over 2.6 metres. This gold mineralization has not been modelled. The 4th intercept returned 0.91 g/t Au over 3 metres. It correlates with nearby intercepts of 2.84 g/t Au over 6 metres located 15 metres above and 2.45 g/t Au over 5 metres located 45 metres below. This mineralization appears to be part of the central part of the Gourbassi East Zone.

Desert Gold News Aug 10 img 03

Figure 3 – Gourbassi East Drill Plan

Gourbassi West

Four RC holes and 1 core hole, were drilled at Gourbassi West during the recent drill program (see Figure 4 – for locations). Three of the five holes intersected significant gold mineralization with a best intercept of 1.02 g/t Au over 15 metres.

Two of the holes FR-20-RC-005 and 006 where drilled to test the strike extension of a drill intercept that returned 3.52 g/t Au over 33 metres in hole GWRC305. Hole 006 intersected four intervals grading better than 0.5 g/t Au with the best interval returning 0.75 g/t Au over 20 metres, at a deeper than expected depth of approximately 70 meters vertical. This interval is assumed to correlate with the strong, at surface intercept in hole GWRC305. Assuming this interpretation is correct, then hole FR-RC-20-005, may have been collared too far to the east and overshot the target and hole FR-RC20-006, may have drilled below the assumed, flat-plunging, best part of the zone. Holes will be planned to test behind FR-RC-20-005 and in front of FR-RC-20-006, to intersect the zone closer to surface, to test these inferences.

Hole FR-20-RC-007 was drilled to confirm the updated geological model and to cut across a previous, assumed down-dip intercept of 1.05 g/t Au over 63 metres. This hole intersected a near surface interval that returned 1.23 g/t Au over 15 metres, where predicted on the contact of a 75-metre wide, granitic intrusion.

Hole FR-20-RC-008 was drilled to test the southern strike extent of a modelled western lens of gold mineralization. This hole intersected two mineralized intervals which returned 1.91 g/t Au over 3 metres from 61 metres and 1.68 g/t Au over 6 metres from 110 metres. These two intercepts correlate with two sets of moderate-west-dipping mineralized lenses located 50 metres to the north. There are no holes to the south. These two lenses trend northeast and appear to be parallel to a geological structure immediately to the west of these zones.

One core hole, FR-20-DD-003 was drilled to test the northern strike extension of the central part of the Gourbassi Zone. This hole intersected a near surface zone that returned 1.23 g/t Au over 5.7 metres, but did not intersected three other modeled lenses. It is suspected that the hole was drilled below the plunge of the zones.

Desert Gold News Aug 10 img 04

Figure 4 – Gourbassi West Drill Plan

Barani East

A single core hole and an RC hole, were drilled to further test the Barani East Zone (see Figures 5 and 6). Both holes intersected significant amounts of gold mineralization with the core hole returning three, closely spaced intercepts of 0.86 g/t Au over 4 metres, 4.76 g/t Au (3.81 g/t Au cut to 30 g/t Au) over 13.4 metres and 2.49 g/t Au over 5.1 metres (true widths are estimated to be 85-90% of drilled length). These intercepts are located approximately 100 metres down-plunge of an intercept of 6.28 g/t Au over 13 metres and 50 metres up-dip of an intercept of 1.13 g/t Au over 7.5 metres (see long section Figure 6).

This limestone-hosted gold zone has been traced for approximately 450 metres down a shallow, southwest plunge and is open down plunge. Additional plunging lenses of gold mineralization are being targeted along strike of this central lens. This mineralized system appears to be related to near surface, limestone-hosted, AC hole, gold intercepts of 1.36 g/t Au over 6 metres and 3.03 g/t Au over 10 metres (Figure 5), which could extend the Barani East Zone another 800 metres to the south. More drilling is required both along strike and down-plunge of the Barani East zone.

An RC hole, BERC0015, was drilled to test down plunge of an en-echelon gold-bearing lens. It intersected 0.75 g/t Au over 4 metres (Figure 5 and 6). Based on modelling, this hole just clipped the lower edge of the gold lens. Follow-up drilling is planned.

Desert Gold News Aug 10 img 05

Figure 5 – Barani East Drill Plan

 

Desert Gold News Aug 10 img 06

Figure 6 – Barani East Long Section

Next Steps

The results for 34 air core (AC) holes are still outstanding, along with the results for 1,065 auger holes. These results are expected within the next month.

Planning for a 43-101 compliant technical report is in progress. Updated modelling of mineralized zones is in progress with an assumed flat plunging bias for most of the gold zones. Assuming no technical issues, this report is scheduled to be completed before the resumption of drilling in November.

A drilling program, comprising at least 15,000 metres of drilling, will commence in November, 2020 and continue, campaign style, through to early July, 2021. The goal of the program will be to test previously planned targets, and, to follow up, in real time, the results of the drilling program. The initial work program will start at the Gourbassi Zones and Barani East Zone, to complete previous planned holes and then continue throughout the project area to test the numerous current targets. As results come in, the drill targets will be re-prioritized.

QAQC

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 homogenized and riffle-split to an approximately 2kg sub-samples which were sent by truck from the project site, for preparation and gold 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 a 50g 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 (1:20-30), sample duplicates (1 :20) and blanks (1 :20). Sample batches that fail QAQC review, especially those with significant gold intercepts, are re-assayed with the insertion of new standards.

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.

About Desert Gold

Desert Gold Ventures Inc. is a gold exploration and development company that holds 2 gold exploration projects in Western Mali (SMSZ and Djimbala) and its Rutare gold project in central Rwanda. The Company’s current focus is its 391 km2 SMSZ Project that spans approximately 38 km of the prolific Senegal Mali Shear Zone.

On Behalf of the Board of Directors

“Sonny Janda”
____________________
Sonny Janda, Chairman

Contact:
Jared Scharf, President & CEO
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel. No.: +1 (858) 247-8195

For further information please visit our website www.desertgold.ca or information available on www.SEDAR.com under the company’s profile. 

Certain statements contained in this release may constitute "forward–looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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.

Table 1 – Summary of Significant Drill Intercepts

BHID

FROM

TO

LENGTH

Au_ppm

BERC0015

101

105

4

0.75

BERCD0007

161.6

165.6

4

0.86

BERCD0007

171.3

184.75

13.45

4.76

includes

183.4

183.8

0.4

62.05

Cut to 30 g/t Au

171.3

184.75

13.45

3.81

BERCD0007

188

188.5

0.5

0.76

BERCD0007

191.7

196.75

5.05

2.49

FR-20-DD-001

115.6

117.1

1.5

1.27

FR-20-DD-001

141

156

26

0.19

FR-20-DD-002

22

23

1

3.83

FR-20-DD-002

89.9

99.25

9.35

1.46

FR-20-DD-002

175.5

180.7

5.2

2.38

FR-20-DD-002

193

195.6

2.6

1.26

FR-20-DD-002

203

206

3

0.91

FR-20-DD-002

210

211

1

0.71

FR-20-DD-002

219

220

1

1.1

FR-20-DD-003

5.7

10

4.3

0.56

FR-20-DD-003

22.2

27.9

5.7

1.23

FR-20-DD-003

39.3

40

0.7

0.65

FR-20-DD-003

192.55

193.3

0.75

0.58

FR-20-RC-001

21

22

1

0.54

FR-20-RC-001

108

109

1

0.75

FR-20-RC-002

75

90

15

2.54

FR-20-RC-002

103

128

25

3.09

FR-20-RC-003

75

76

1

2.06

FR-20-RC-003

85

86

1

1.34

FR-20-RC-003

127

135

8

0.71

FR-20-RC-003

138

139

1

0.78

FR-20-RC-004

42

56

14

1.66

FR-20-RC-004

54

56

2

0.95

FR-20-RC-004

154

159

5

1.34

FR-20-RC-005

19

20

1

0.53

FR-20-RC-006

13

14

1

0.78

FR-20-RC-006

26

32

6

0.76

FR-20-RC-006

47

49

2

1.15

FR-20-RC-006

82

102

20

0.75

FR-20-RC-007

24

39

15

1.02

FR-20-RC-008

61

64

3

1.91

FR-20-RC-008

110

116

6

1.68

FR-20-RC-009

47

48

1

0.78

FR-20-RC-009

56

57

1

0.66

Table 1 - Detailed Drill Hole Assay Summary

[1] Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company’s SMSZ Property.

Delta, British Columbia, August 25, 2020 Desert Gold Ventures Inc. ( the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) is pleased to announce it has received subscription receipts of CAD$6,829,440 through the sale of 24,390,856 Units from its previously announced non-brokered private placement (the “Financing).

Pursuant to the terms of the Financing, each Unit was priced at CAD $0.28 and consists of one common share in the equity of the Company and one-half common share purchase warrant (a “Warrant”). Each full Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.40 per share for a period of three (3) years from the closing of the Financing. In connection with the Financing and subject to exchange approval, the Company will pay finders’ fees of CAD$87,458 and consulting fees of CAD$322,140. Securities issued as a result of this Financing will be subject to a statutory hold period.

Certain directors and officers of the Company acquired Units under the Financing. Such participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.

The net proceeds of the Financing will be used primarily for exploration related activities at the Company’s flagship SMSZ Project in Western Mali and for general corporate purposes. The closing of the Financing is subject to final Toronto Venture Stock Exchange approval.

On Behalf of the Board

“Jared Scharf”
____________________

Jared Scharf
Chief Executive Officer & 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)  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, CEO
Email:    This email address is being protected from spambots. You need JavaScript enabled to view it.

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 4770 72 Street, Delta, British Columbia | Canada | V4K 3N3 | Office +1 (604) 357 4726 | Fax +1 (604) 592 6882 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.