Desert Gold Targets Three Mineralized Zones On Its Farabantourou Prospect for 2017 Exploration Program
June 07 2017 - 8:40AM
InvestorsHub NewsWire
Delta, British Columbia - June
7, 2017 - InvestorsHub NewsWire - Desert Gold Ventures
Inc. (“Desert Gold” or
“the Company”)(TSX.V: DAU, FF:QXR2, OTC:DAUGF) is please to provide
the following update regarding its planned exploration program at
its Farabantourou prospect in Western Mali.
HIGHLIGHTS:
- Two historically defined mineralization zones,
Barani and Keniegoulou, will be retested and incorporated into the
company’s broader understanding of Farabantourou’s
geology.
- The third prospect, Barani East, contains a
resource of 69,900 oz Au (cut-off grade, 0.5 g/t Au). This
mineralization occurs in an eastward steeply dipping (55 to 60),
tabular body, ranging in width of 4.5m to 15m with a NNE strike.
The average grades vary between 2.22 to 2.29 g/t Au with tonnage of
652,080 and 317,021 for the indicated and inferred categories,
respectively.
- Approximately 5,000m of drilling to begin in
June of this year on these three targets and completed by
year-end.
The Farabantourou exploration permit lies approximately 40 km south
and 50 km north of the world-class gold mines of Sadiola and Loulo
(Fig.1), respectively. These mines are situated on second order
splays off the regional North-South trending Senegal-Mali Fault
Zone (“SMFZ”), which the Farabantourou tenement straddles. The
present geological interpretation within Farabantourou is that
there is a hydrothermal alteration at a contact between two
dominant lithologies, namely, sedimentary siliciclastic lithologies
to the west and volcano-sedimentary units to the east; the contact
is thought to form part of the SMFZ, trending NNW.
Below is the meterage apportioned to each prospect for this year’s
exploration program:
![](https://investorshub.advfn.com/uimage/uploads/2017/6/6/[d[ds20170606_DAU02.png)
Figure 1. Regional locality plan showing the
Farabantourou permit in relation to other mines, Western
Mali.
Drilling will be conducted in two phases. Approximately 2,000
meters of diamond core drilling is planned for the first phase,
starting June 2017, to be completed before the start of the wet
season. The second phase of drilling will comprise approximately
3000 meters using a RC rig, which will resume at the start of the
dry season, early November 2017. Table 1 summarizes the
approximate drilling apportioned to the three prospects. The focus
of the drilling is on the three significantly mineralized zones
(prospects) in the northeastern part of the property (Fig. 2),
namely Barani, Barani East and Keniegoulou.
![](https://investorshub.advfn.com/uimage/uploads/2017/6/6/nncor20170606_DAU03.png)
Figure 2. Past exploration summary plan including the
location of the various prospects within the Farabantourou
permit.
At the Barani East prospect, a resource of 69.9 koz gold (cut-off
grade, 0.5 g/t Au) was estimated by Minxcon Consulting (cf. Table 2
and Fig. 3). This mineralization occurs in an eastward steeply
dipping (55 to 60), tabular body ranging in width of 4.5m to 15m
with a NNE strike. The average grades vary between 2.22 to 2.29 g/t
Au for the indicated and inferred categories, respectively.
![](https://investorshub.advfn.com/uimage/uploads/2017/6/6/iutmn20170606_DAU04.png)
Table 2. Barani East mineral resource statement made by
Minxcon Consulting, November 2015. This resource statement was made
in compliance with the specifications set out by the Canadian Code
for reporting of resources and reserves as prescribed in the
National Instrument 43-101.
At the other two prospects, Barani and Keniegoulou, significant
gold intersections were made in previous RC drill programs (cf.
Figs 4 & 5). The company will use the diamond drill rig at both
prospects to twin some of the previous RC drill holes in addition
to exploratory core drilling to better evaluate the geology and the
controls to the mineralized zones intersected. Twin holes will be
drilled to a greater depth than the originals given our hypothesis
that gold mineralization continues at depth.
At Barani East mineralization remains open ended at depth and
possibly on strike, to the north and south. The deepest
intersect of mineralization at Barani-East was made at a depth of
120m, whilst the deepest end-of-hole reached 190m terminating
within oxidized material, suggesting the oxidation zone may extend
beyond 200m. The drilling program for Barani-East will probe those
extensions to the mineralization down dip at depth and along the
strike both to the north and to the south.
![](https://investorshub.advfn.com/uimage/uploads/2017/6/6/oqgvf20170606_DAU05.png)
Figure 3. The Locality plan of past and the planned
diamond boreholes at the Barani East prospect.
The Barani prospect shows a North-South mineralized envelope,
approximately 1600 meters in strike length, delineated from RC
drill intersects. The mineralized zone appears to be a
sub-vertical tabular body with pinch and swell characteristics,
varying in thickness between 7m and 5m, on average 6m. The initial
drill program will focus on evaluating the geology, particularly
recognizing the controls to the mineralization. The follow up
infill RC drilling will be used to improve data density towards the
estimation of resources planned for Q1 2018. The planned DD holes
are marked by red diamonds below.
Figure 4. Locality plan of the Barani prospect showing
past RC drill positions, the envelope of mineralization and the
future diamond drill program excluding the holes to be
twinned.
Cross sections views of Barani historical RC holes and
planned diamond core holes (Marked in red):
At Keniegoulou (Fig. 5) the mineralization delineated from the past
RC drill intersects show two sub-parallel zones at 400 meters and
350 meters in strike lengths, oriented in a NNW direction. The
Keniegoulou mineralization is seemingly in sub-vertical tabular
bodies, varying in thickness from 10m to 5m, on average 5m. Core
drilling will focus on providing further insight on the geology and
the controls to the mineralization. The follow up RC drilling will
contribute to an improvement in data density, needed to estimate
the resources, planned for Q1 2018.
![](https://investorshub.advfn.com/uimage/uploads/2017/6/6/c[tgj20170606_DAU10.png)
Figure 5. Locality plan of the
Keniegoulou
prospect showing the envelope of mineralization from past RC drill
intersects and the planned diamond drill program, excluding the
holes to be twinned.
Desert Gold’s President Jared Scharf commented, “We are very
excited to begin this program. Farabantourou is a great prospect
hosting several mineralized areas that we are undertaking to expand
and get a better understanding of structurally speaking.
The three mineralized zones being
explored this year are orogenic, and considering their relative
proximity we believe it is worth testing the thesis that they are
part of a larger continuous system. We've just scratched the
surface here. The deepest intersect is only at 120m at Barani East
for example. Structural measurements are key to gaining a better
understanding of these ore bodies. The most effective way of doing
this is through diamond core drilling. The commencement and
completion of this program are major steps forward towards our
ultimate goal of profitable commercial mining.”
This note was reviewed by Dr. Luc Antoine who is a director of the
Company and is registered as a Member of the Geological Society of
South Africa (MGSSA 967397). He has the necessary experience
relevant to the style of mineralization and types of deposits under
consideration and to the activity that he is undertaking to qualify
as a Qualified Person as defined in the National Instrument
43-101.
ON BEHALF OF THE
BOARD
“Jared Scharf”
___________________________
Jared Scharf
President & Director
+1 (858) 247-8195
For further information please visit www.SEDAR.com under the
company’s profile.
This news release contains
forward-looking statements respecting the Company's ability to
successfully complete the Offering. 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, including the inability of the Company to
successfully complete the Offering. These uncertainties and risks
include, but are not limited to, the strength of the capital
markets, the price of gold; operational, funding, and liquidity
risks; the degree to which mineral resource estimates are
reflective of actual mineral resources; and the degree to which
factors which would make a mineral deposit commercially viable are
present; 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.
Desert Gold Ventures (QB) (USOTC:DAUGF)
Historical Stock Chart
From Jul 2024 to Aug 2024
Desert Gold Ventures (QB) (USOTC:DAUGF)
Historical Stock Chart
From Aug 2023 to Aug 2024