Desert Gold Ventures Inc.: Goldbanks Property, Pershing County, Nevada Initial KW Zone Drilling Results
January 21 2009 - 7:00AM
Marketwired
Desert Gold Ventures Inc. ("Desert Gold" or the "Company") (TSX
VENTURE: DAU) is pleased to announce that the results for 2008
drilling activities in the KW Zone, located at the north end of the
Goldbanks property (the "Property") have been received and
interpreted. The drilling confirms the potential for high-grade
gold mineralization in the KW Zone and has defined a principal
control of this mineralization as a northwest-trending and
southwest-dipping fault zone ("KW Fault Zone"). A total of 8,132.5
feet of drilling was completed in the KW Zone and is comprised of
6,002.5 feet of core and 2,130 feet of reverse circulation
drilling. All core and rotary cuttings samples were analyzed by ALS
Chemex for gold, silver, and a suite of trace metals.
The KW Zone is a previously defined small resource area
containing 74,300 oz Au, although the controls of the gold
mineralization were never clearly established. A detailed review
and re-interpretation of geology of the KW Zone suggested that a
northwest-trending, southwestern-dipping series of subparallel
fault zones are the principal controls of both high and low-grade
gold mineralization that comprise this resource area. The 2008
drilling program in the KW Zone confirmed the presence and
gold-bearing nature of a major northwest-trending fault zone; the
KW Fault Zone. The KW Fault Zone is a principal focus for dike
emplacement, hydrothermal alteration, and is a primary control of
the gold mineralization in the resource area.
Several core and reverse circulation holes intersected the KW
Fault Zone and demonstrate that the zone can be traced along strike
greater than 1200 feet and ranges from less than 50 to greater than
100 (up to 100's of) feet wide. The Fault Zone is intensely
brecciated, contains abundant dikes, is pervasively silicified, and
contains crystallized and banded epithermal quartz veining
exhibiting abundant open spaces, boiling textures, associated
pyrite, iron, and manganese-oxides. The majority of gold, including
higher grade (greater than less than 0.4 oz/t Au) zones, appears to
be closely associated with the quartz veining. Gold grades are
erratic within the zone and detailed studies to determine the exact
location and mineralogical associations of gold mineralization will
be undertaken.
A table of some of the 2008 drill holes that intersected the
mineralized KW Fault Zone is shown below.
Table of 2008 KW Zone Drill Holes
-----------------------------------------------
Grade
Hole Number From To Feet (oz/t Au)
-----------------------------------------------
GB08-01 445 460 15.0 0.230
-----------------------------------------------
Inc. 455 460 5.0 0.484
---------------------------------
510 513.5 3.5 0.199
-----------------------------------------------
GB08-02 379.5 385 5.5 0.137
---------------------------------
755 774 19.0 0.161
---------------------------------
Inc. 755 758.5 3.5 0.521
---------------------------------
764 769 5.0 0.216
---------------------------------
875 885 10.0 0.046
-----------------------------------------------
GB08-03 446 451 5.0 0.155
---------------------------------
477 487 10.0 0.050
---------------------------------
819 834 15.0 0.019
---------------------------------
834 839 5.0 0.224
-----------------------------------------------
GB08-05 265 270 5.0 0.177
---------------------------------
545 550 5.0 0.073
---------------------------------
685 688.5 3.5 0.089
-----------------------------------------------
GB08-06 333 338 5.0 0.207
---------------------------------
629.5 670 40.5 0.013
-----------------------------------------------
GB08-07 232 237 5.0 0.172
---------------------------------
724 805 81.0 0.070
---------------------------------
Inc. 724 729 5.0 0.234
---------------------------------
Inc. 729 753 34.0 0.012
---------------------------------
Inc. 753 805 52.0 0.082
---------------------------------
Inc. 773 778 5.0 0.487
-----------------------------------------------
GB08-33 240 325 85.0 0.013
-----------------------------------------------
GB08-34 60 120 60.0 0.010
---------------------------------
200 300 100.0 0.011
-----------------------------------------------
GB08-35 170 180 10.0 0.016
---------------------------------
200 205 5.0 0.089
---------------------------------
295 320 25.0 0.011
---------------------------------
400 415 15.0 0.011
---------------------------------
650 655 5.0 0.099
---------------------------------
700 705 5.0 0.045
---------------------------------
750 755 5.0 0.042
---------------------------------
865 890 25.0 0.020
-----------------------------------------------
Topographic features suggest the KW Fault Zone continues along
strike to the south and north beyond the current limits of drilling
and results from the 2008 program indicate that additional
exploration drilling is warranted to define the north and south
limits of this mineralized fault zone and infill drilling along the
zone. In addition, the high-level style and textural features
exhibited by the quartz veining suggest that future drilling should
target the KW Fault Zone down-dip. Portions of the KW Fault Zone
that contain the highest gold grades and well-developed epithermal
quartz veining warrants exploration drilling at a level of at least
200-500 feet down-dip of the current level of gold anomalies to
test the potential for bonanza gold mineralization in the vein
zone.
Desert Gold is exploring the Goldbanks Property under an option
and joint venture agreement with Kinross Gold Corporation (NYSE:
KGC). Exploration work is being conducted under the supervision of
the Company's Qualified Person, Timothy J. Percival, CPG. ALS
Chemex Ltd. of Vancouver analyzed the samples.
On Behalf of the Board of Directors:
Eugene Beukman, President
For further information on Desert Gold Ventures Inc. please
visit our website at: www.desertgold.ca.
This release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. All statements in
this release, other than statements of historical facts, that
address future production, reserve potential, exploration and
development activities and events or developments that the Company
expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploration and development successes,
continued availability of capital and financing, and general
economic, market or business conditions. Please see our public
filings at www.sedar.com for further information.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Desert Gold Ventures Inc. Eugene Beukman President
(604) 687-2038 (604) 687-3141 (FAX) Website: www.desertgold.ca
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