125km2 Djimbala Permit acquired by Desert Gold.
TORONTO, February 21, 2012 - Desert Gold Ventures Inc. (TSX-V: DAU) (the "Company" or "Desert Gold") is pleased to announce that the Malian Government granted TransAfrika Mali SA, a subsidiary of Desert Gold, the strategically well-located Djimbala gold permit in south-western Mali (the “Permit”). The Permit falls within the highly prospective Yanfolila Greenstone Belt, 10km southeast of Gold Field’s Komana Deposits. Gold Fields have indicated that they are targeting the establishment of a significant gold resource at Komana. Gold mining by artisanal miners on the Djimbala permit is on north – south striking structures similar to the structures hosting the Komana deposit.
Desert Gold now has 3 gold permits with clearly identified exploration targets in Mali covering a combined area of 305km2 .
About the Djimbala Permit
The Permit is located 220km from Bamako, the capital of Mali and is accessed by 195km tarred road and a 20km all-weather track. Hydro-electric power is available from the nearby Selingue hydro-electric dam. Water for mining operations can be sourced from the Niger and Sankarani rivers.
The Permit covers 125km2 . Favorable host rocks and fundamental structures indicate a highly prospective geological setting. Five areas initial targets were identified. These targets occur adjacent to and as extensions of early stage projects investigated by Gold Fields and are supported by soil geochemistry and aeromagnetic data. The Permit lies within a gold area where a number of projects are currently being developed. These projects include:
- Komana where the current gold resource declared by Gold Fields is 750,000 ounces of gold at a grade of 2.5g/t.
- Kabaya South, Gonka and Sanioumale West. Initial drilling by Gold Fields discovered high grade gold mineralization in the oxide zone on these projects. Drill results on Saniomale West (north of Komana) include 15m @ 10.1 g/t from 13m and 26m @ 3.87g/t from 24m.
- Solana, where an 8km by 3km gold in soil anomaly was outlined.
- Faliko and Fougan where Gold Fields reported “encouraging results”.
About the Yanfolila Belt
The Yanfolila Belt is located in the West African Siguiri Basin which has some 44 million ounces of gold (as per Gold Fields presentation Yanfolila Project – Mali 18 May 2010). West Africa is one of the fastest growing gold districts in the world. Favorable host rocks, fundamental structures and known gold mineralization upgrade the exploration potential of the Yanfolila greenstone belt. A deep weathering profile down to 100m vertical depth provides potential for low cost, economic mining.
Components of the favorable geological setting for gold mineralization in the Yanfolila Belt include:
- Deeply seated faults that control the architecture of the belt
- Permissive and suitable rock types
- Deeply weathering terrain with potential for low cost open pit mining
- Known gold mineralization
- Short history of modern exploration
Desert Gold proposes a 7 phase exploration program to develop the project to post feasibility stage.
Thomas R. Tough, P.Eng., a member of Desert Gold’s board of directors, is the non-independent, Qualified Person, responsible for the technical information reported herein.
About Desert Gold
Desert Gold Ventures Inc. is an advanced exploration and development company which holds mining assets in Mali, Rwanda, Senegal and a 50% participating interest in a joint venture agreement with Kinross Goldbanks Mining Company (a subsidiary of Kinross Gold Corporation) of Toronto, Ontario in respect of the Goldbanks Mining property located in Pershing County, Nevada, USA.
To learn more, visit our website at: www.desertgold.ca
This press release includes certain "forward-looking statements". All statements regarding the ability of the Company to successfully complete the Proposed Transaction and the Financing, to successfully integrate the businesses of Desert Gold and TransAfrika and to delineate new resources in proposed drilling programs are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forwardlooking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include the inability of the Company to close the Proposed Transaction and the Financing due to the state of the capital markets and other risk factors as discussed in the Company's filings with Canadian securities regulatory agencies. The Company expressly disclaims any obligation to update any forwardlooking statements except as may be required by law.
For further information concerning Desert Gold and the TransAfrika material properties, please refer to Desert Gold's SEDAR profile at www.sedar.com, or contact:
|Roeland van Kerckhoven,
President and CEO
Tel: 1 (604) 566-9240
Fax: 1 (604) 408-9301
Tel: 1 (416) 662-3971
Fax: 1 (604) 408-9301
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