Delta, British Columbia, January 25, 2022 Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FSE: QXR2, OTCQB: DAUGF) is pleased to announce results for another 72 Air Core holes completed in late December, 2021 and early January 2022. These holes were drilled to test the strike extensions of a new zone of gold mineralization at Gourbassi West North that was discovered during the Company’s 2021 drill program (see October 25, 2021 news release). Drill assay results indicate that the Gourbassi West North Zone can be traced for approximately 1.6 km and is open to the north and south. Additional AC drilling and auger drilling is planned to test for extensions to the Gourbassi West North Zone and to delineate potential parallel mineralized structures.
A highlights summary of the recent drill hole intercepts follows with additional details presented in Figure 1 and in Table 1 at the end of the release.
- 1.94 g/t gold over 30 metres
- 2.75 g/t gold over 12 metres
- 1.23 g/t gold over 27 metres
- 0.64 g/t gold over 9 metres
- 1.10 g/t gold over 37 metres
- 1.43 g/t gold over 10 metres
- 0.67 g/t gold over 36 metres
- 0.50 g/t gold over 26 metres
- 0.59 g/t gold over 19 metres
* True widths are estimated at 65% of drilled length
Desert Gold’s President & CEO Jared Scharf commented “The Gourbassi West North Zone now has an indicative strike length of 1.6 kms, which make it one of the longest and widest mineralized zones on the property. Combine this with gold-in-soil anomalism that continues for another 6 kilometres to the north, it really emphasizes the potential of this previously overlooked portion of the Property. Gourbassi West North is just one of several high priority targets the Company will develop this season at SMSZ which we believe demonstrates the tremendous blue sky of this regional
The Company completed 72 air core holes totalling 2,890 metres. These holes tested an approximate 1,600 metre strike extent of the Gourbassi West North target with material gold values intersected on all of the air core drill fences (See Figure 1). This mineralized system appears to be open along strike and to depth with the bulk of the mineralization intersected to date hosted by rocks that are oxidized. Drill fences were spaced from 125 to 250 metres apart. Infill air core drilling, drill fence extensions and zone expansion test drill fences have been proposed, based on current interpretations.
The recent program followed up on drill results summarized in a December 23, 2021 new release where an air core drill fence returned an interpreted combined 90 metres true thickness grading 0.96 g/t gold. (Figure 2). Results from the recent drilling have returned the best results to date with intercepts of 1.94 g/t gold over 30 metres* and 2.75 g/t gold over 12 metres* (see Figure 2) on a 125-metre step out line to the north of the original discovery drill fence (see Figure 3). The next drill fence, located another 125 metres to the north, also returned good width and grades with intercepts of 1.10 g/t gold over 37 metres, 1.43 g/t gold over 10 metres and 0.36 g/t gold over 7 metres (Figure 4).
Immediately south of the discovery drill fence, the mineralized zone is interpreted to be offset to the east along a distinct magnetic linear, with the zone continuing to the south of the fault with mineralization trending toward the Gourbassi West Deposit. The wide zone of mineralization at the original discovery is interpreted to be related to the intersection of northly and northwesterly -trending structures.
After re-logging of the drill chips, the Gourbassi West North zone has been re-interpreted to be hosted by a gritty, likely Birimian-age quartzite that is in fault contact to the east by a younger sedimentary sequence of quartzite, conglomerate, hydrothermal breccia and chert. Alteration includes sericitization, sulphidation (pyrite and arsenopyrite) and quartz stringers. As with the Gourbassi West Deposit, gold mineralization occurs in both the younger and older rock packages.
Next Steps Guidance
Based on results to date, approximately 32 follow-up air core holes have been planned with 16 of the holes dedicated to extending the drill fences where mineralization may occur and 16 holes as both infill and, testing extensions of the zone to the north (see Figure 1). Prior to this drilling, a ground magnetic survey is planned to get better definition of the northerly-, northwesterly- and northeasterly-trending structures.
Concurrent with the above program, additional auger drilling is planned along the strike extensions of the Gourbassi West North Zone trend and over a series of strong, gold-in-soil anomalies, that are believed to be linked to the Gourbassi West North mineralized system (Figure 5). The auger drilling should provide clear targets that can be tested. Auger drilling is also recommended along a northwest-trending zone of anomalous gold-in-soil values located to the north of the Gourbassi East Zone (Figure 5). The auger target areas are defined by black ovals in Figure 5.
Outside of the Gourbassi area, geological mapping and magnetic surveys are being carried out over the Mogoyafara South Deposit and potential extensions to the north and south (see Figure 6 for property scale location map). Initial magnetic survey data displays a strong correlation between magnetic anomalies and the location of gold-bearing drill intercepts. Based on these findings, magnetic surveying will be extended to the north and south of the initial survey area. Pending mapping results, auger drilling may also be carried out over the Mogoyafara South Deposit area.
An additional, exploration program consisting of approximately 17,000+ metres of drilling will be carried out subject to financing with a general work plan as follows.
Model validation and exploration holes with a goal to resource expansion, have been planned over Mogoyafara South and Linneguekoto West. This drilling is proposed to commence once surface geological mapping and ground magnetic surveys have been completed over Mogoyafara South.
Follow-up drilling of gold-bearing drill intercepts from 2021 and previous exploration programs is planned at the Manakoto, Kamana, Soa, Kolon, Sorokoto North, Barani East, Frikidi, Gourbassi West, Gourbassi East and Gourbassi Northeast Zones. The goal of testing these targets is to determine potential for Mineral Resources.
Untested gold-in-auger anomalies have been prioritized and will be tested with a focus on anomalies >100 ppb gold.
Additional auger surveys are being contemplated in the Gourbassi West North and Mogoyafara areas.
*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%.
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 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. 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
Table 1. Drill Hole Assay Composite Summary (true widths are estimated at 65% of drilled length)