Delta, British Columbia, December 23, 2021 Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FSE: QXR2, OTC: DAUGF) is pleased to announce that it has commenced a follow-up drill program that will test the strike extent of the new, Gourbassi West North gold discovery in its earlier 2021 drill program (see news release dated Oct. 25, 2021). The discovery, comprises 3 closely spaced gold-bearing lenses (across 125 metres of strike) totalling an estimated combined true thickness of 90 metres with a weighted average grade of 0.96 g/t Au (Figure 1). Most of this mineralization is oxide and has been traced from surface to 35 to 40 metres depth and is open to depth and along strike.
Desert Gold plans to test the Gourbassi West North target area for 1,500 metres along strike with 9 air core fences comprising 66 holes totalling 3,300 metres (see Figure 2). These drill fences are designed to both test for the strike extent of the gold zone and the continuity of the gold mineralization.
Desert Gold’s President and CEO Jared Scharf commented, “After being chased out by the rains last season and only being able to complete one fence of drilling on this target, we are very pleased to be back drilling again so soon. This target is an exciting one as it appears to be the widest gold zone we’ve seen anywhere on the property package. This initial program should wrap up quickly with results released as soon as they are available.”
Next Steps Guidance
Desert Gold anticipates that our initial NI 43-101 compliant resource for the SMSZ Project will be released in January 2022.
Once the drilling has been completed at Gourbassi West North, drilling will next advance to the nearby Mogoyafara South and Linnguekoto West Zones (see Figure 4 for location) as part of Desert Gold’s phase one exploration program.
Figure 1. Cross-section new Gourbassi West North discovery
Figure 2. Plan view Gourbassi West & North target area with planned drill holes
The Gourbassi West North target area is located in the southwest portion of Desert Gold’s SMSZ project (see Figures 3 and 4 for regional and property scale locations). Desert Gold’s initial program over Gourbassi West was designed to complete a model validation and resource expansion drill program that commenced in 2020, which included some follow-up drilling based on results. As part of this program, the Company completed three, short, 500-meter-spaced auger lines all of which, returned very anomalous gold-in-auger values. Follow-up drilling over two of the three auger lines, resulted in the discovery of the Gourbassi West North gold mineralization, which appears to be the widest gold system intersected on the SMSZ property to date. The strongest gold-in-auger values, on a line 500 metres further north, have not been tested yet as the onset of the rainy season necessitated an abrupt end to the 2021 drill campaign. This line of auger will be drill tested at the start of the 2022 drill campaign.
The Gourbassi West North Zone area is located approximately from 800 to 1,400 metres north of the modelled Gourbassi West Zone along a northly trending structural and soil anomaly target zone that has been traced for approximately 4,000 metres. This gold mineralization was discovered by following up gold-in-auger values that range up to 1,937 ppb gold on the furthest north, currently untested auger line. As well, first pass soil sample data (Desert Gold news release – June 1, 2021) suggest potential to further extend the high priority exploration target area for another 6,500 metres to the north.
Ten, 50 metre long, air core holes, in two fences, 600 metres apart, were drilled to test the gold-in auger anomalies. Of these, seven of the holes intersected potentially economic gold grades. Note that further studies will be required to determine if any of the gold mineralization could be deemed economic.
The northernmost fence comprised seven holes which are interpreted to have intersected three gold-bearing lenses across a 125-metre-wide area (see Figure 2) with a best intercept of 1.13 g/t gold over 42 metres, including 1.62 g/t gold over 13 metres. The interpreted true width of these three lenses totals approximately 90 metres with the widest interpreted to be 45 metres wide. Modelling of the gold-bearing lenses also incorporates lower grade material grading from 0.1 to 0.4 g/t gold (gold alteration). The bulk of the mineralization is hosted by intermediate composition volcanic rocks with part of the mineralization hosted by sandstone and a narrow felsic intrusion. In the Gourbassi West Zone area, the sandstone is interpreted to be ‘Tarkwa-like’ sediments. Tarkwa rocks are an important host to several large gold mines in Ghana.
The southernmost AC fence comprised three, 50 metre holes, one of which intersected 0.64 g/t gold over 24 metres (FR-21-AC-019). Additional, untested auger (31 ppb) and soil (111 ppb) lie to the west of the drilled area. This mineralized area, may also be open to the east as at least one additional hole is required to close off the auger anomaly. The mineralization in hole 019 is hosted by a similar-looking quartzite unit as intersected in the northernmost fence, suggesting that there could be continuity between these two widely spaced drill fences and that the host intermediate volcanic unit lies further west and has not been tested yet.
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.
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.
1 True width unknown
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), 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
Figure 3 – SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal
Figure 4. Property Scale Zone Location map and significant drill results
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