TSX.V: DAU
Frankfurt: QXR2
OTC: DAUGF
SURREY, BC, April 15, 2021 /CNW/ - Desert Gold
Ventures Inc. (the "Company") (TSXV: DAU) (FF: QXR2) (OTC:
DAUGF) is pleased to present a series of new, high priority,
gold-in-auger exploration targets on its SMSZ Project. These
untested anomalies lie under shallow laterite cover proximal to the
regional scale Senegal Mali Shear zone.
Exploration is well advanced on 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 prolific Senegal Mali Shear
Zone (the "SMSZ"). The SMSZ is related to 5 large mines located
both to the north and south, along strike of the Company's SMSZ
Project, 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 in early December,
2020. The goal of the exploration program is to develop/discover a
stand-alone Tier 1 gold deposit(s). Exploration comprises drilling
to advance known gold zones and soil, auger and IP surveys to
identify new targets, with real-time follow-up of drill testing of
newly developed targets. The SMSZ exploration program is fully
underway with one multipurpose drill, two auger drills, a
geological mapping team and a couple of soil sampling teams.
Highlights - (see Figures 2 and
3)
- Gold-in auger results to 1,452 ppb gold in 2021 with
values to 5,060 ppb gold from 2020 surveys
-
- 15, 2021 samples contain >200 ppb gold. 36 samples
>100 ppb gold. 84 samples >50 ppb gold
- Gold-in auger results define 10 untested target areas, five
of which are 2+ km long (see Figure 2)
-
- 3 of the 10 target areas related to known gold-bearing
trends.
- New target area at north end of 2 km long granodiorite
intrusion – pressure shadow target.
- Geophysical data shows clockwise rotation of geological
units, coincident with gold-in auger anomalies (see Figure
3). These areas are interpreted to represent dilatant zones
which are some of the best targets for the discovery of gold
mineralization
- Additional auger target areas likely – results
pending
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1 Mineralization hosted on adjacent
and/or nearby properties is not necessarily representative of
mineralization hosted on the Company's SMSZ Property.
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Jared Scharf, President and CEO
Desert Gold Ventures commented "The new auger results are extremely
encouraging. Based on our previous work, we know that testing of
laterite-covered gold-in-auger anomalies, can lead to the discovery
of new gold zones. Regionally, several major gold deposits,
including Siou in Burkina Faso,
Fekola in western Mali and
Gounkoto, also in western Mali,
were discoveries under shall laterite cover. It is also important
to point out, is that all of the new anomalies are proximal to the
east side of the Senegal Mali Shear Zone, where regionally, 5,
large gold mines have been discovered1. We are pleased
with the scenario and plan to drill-test the bulk of these
anomalies during the current exploration program."
Technical data - Gold-in-auger and geophysical survey
results
Summary results from 761 auger holes and approximately 85-line
km of gradient IP surveys are presented in this release.
Five IP geophysical survey grids were completed in late 2020 and
the first part of 2021. Data from four of the new grids was merged
with data from 4 previous geophysical survey grids with data
covering a 12 km by approximately 11 km area. New IP grid lines
were oriented at 270 degrees azimuth and spaced 200 metres apart
with data stations every 25 metres. The merged IP data was
interpreted with map products including chargeability, resistivity,
conductivity, residual chargeability, residual resistivity,
residual conductivity, structural pattern maps for each and anomaly
interpretation maps including interpreted structures.
The auger drilling was carried out on lines 400 metres apart
with stations every 25 metres. This release, presents the results
of 1,522 assay samples from 761 auger holes. Auger holes ranged up
to 25 metres deep with an average depth of 8.86 metres. Two samples
were collected in each hole with one sample of the basal laterite
and one sample of the uppermost metre of saprolite (near surface
altered rock). Samples from the auger program were subject to
24-hour bottle roll cyanide leach.
The IP geophysical data provides insight into potential areas of
pyrite enrichment (chargeability highs), silicification
(resistivity highs), geological trends, potential shear zones and
areas of clockwise structural rotation (see Figure 3). This data,
combined with geological mapping, drilling and auger data, provides
a coherent framework for interpretation of the gold-in-auger data,
and, in this case, the delineation of at least 10 potential gold
bearing trends. Three of the gold trends, line along strike of
previously defined trends. Seven of the gold trends are new target
areas. It is interesting to note that there are only a few
anomalous outliers and that the gold-in-auger anomalies generally
line up well along north-northwest and north-northeast trends. In
summary, 15 samples contain >200 ppb gold, 36 samples >100
ppb gold and 84 samples >50 ppb gold.
Zones of structural rotation, as inferred from the IP
geophysical data, are expected to represent dilatant zones, which
would be supportive for the formation of a gold deposit. High
priority targets occur where these structural rotation zones are
combined with anomalous gold-in-auger values, IP chargeability
highs suggesting increased pyrite content and IP resistivity highs
suggesting silicification.
Exploration Progress to April 11,
2021
- Drilling – 32% complete. Drilling pace has picked up
after a series of breakdowns with 521 metres drilled on
April 11 and 5,714 metres drilled to
date.
- Auger Drilling – 92 % complete
-
- 18,121 metres drilling in 2,262 holes
- Two rigs active
- IP Geophysical Surveys – 100% complete
-
- 90.8 line kilometres completed
- Historic and new IP data have been merged.
- Soil Sampling – 97 % complete
- Mapping and prospecting ongoing
- Community Support Program in progress
-
- Medical and school supplies to be donated to 9 communities in
the SMSZ Project region
2021 Exploration Program
- Fully Funded 20,000 metres of drilling– Drilling started
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
- Approximately 19,000 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
- 90-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
- 7,000 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
Next Steps
Eighty-five additional air core drill holes, totaling 4,250
metres have been planned to test most of the new auger anomalies.
Drilling to test these targets will be carried out in due course as
part of the current 20,000 metre drill program.
Review drill results as they are received and plan follow-up
holes as required.
QAQC
All auger samples are delivered to SGS in Bamako, Mali where they are prepped. The
prepped samples, were then shipped by truck to SGS's facility in
Ouagadougou, Burkina Faso for Au determination by 24 hours
CN bottle roll leach. Standards, assay blanks and sample
duplicates, are inserted into the assay stream every 25, 23 and 22
samples, respectively equaling one control sample for every 8 assay
samples. All assay batches are reviewed for quality with re-assays
requested for 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.
On Behalf of the Board
"Jared Scharf"
___________________________
Jared Scharf
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
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.
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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
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SOURCE Desert Gold Ventures Inc.