Desert Gold Begins Drilling on its Farabantourou Permit, Mali, West Africa
February 15 2018 - 11:38AM
InvestorsHub NewsWire
DELTA, BC -- Feb. 15, 2018 -- InvestorsHub
NewsWire -- Desert Gold Ventures Inc. ("Desert
Gold" or "the Company") (TSX.V: DAU, FF: QXR2, OTC: DAUGF) is pleased to announce
that drilling has begun on its Farabantourou project located in
western Mali.
Highlights
Desert Gold's initial drill program will focus
on three target areas including Barani East, Barani and
Keniegoulou. The drill program plans for 31 holes consisting of 780
meters diamond drilling and 3,265 meters of RC drilling. A summary
of the prospects to be drilled follows:
- Barani East
Prospect
- Past
drilling returned intercepts up to 7.8 g/t gold over 10
meters
- Four
moderate to steep east-dipping lenses ranging in width from 4.5
meters to 15 meters
- The
mineralized zones have approximately 550 meters of strike and may
be open along strike and depth
- Potential for additional parallel zones with
mineralized intercepts up to 2.22 g/t gold over 20 metres will be
tested and followed up
- Barani Prospect
- Drilling returned intercepts of 2.19 g/t gold
over 9 meters
- The
prospect is subparallel and proximal to the Mali-Senegal Shear Zone
(MSSZ), along which the World Class gold mines of Sadiola,
Loulo-Gounkoto complex and Fekola are
situated
- The
gold mineralization is contained in several lenses and has been
traced over an approximate strike of 1,900
meters
- The
mineralization is open along strike and
depth
- Keniegoulou
Prospect
- Drilling returned intercepts of 5.92 g/t gold
over 4 meters
- This
prospect is close to and subparallel to the MSSZ on the southern
strike extension of the Barani Propsect
- This
zone comprises 5 lenses of gold mineralization traced over
approximately 1,500 meters
- The
mineralization is open ended along strike and
depth
![Figure 1: Locality plan of the Farabantourou Prospects with historic drill results (CNW Group/Desert Gold Ventures Inc.)](https://mma.prnewswire.com/media/642537/Desert_Gold_Ventures_Inc__Desert_Gold_Begins_Drilling_on_its_Far.jpg)
Figure 1: Locality plan of the Farabantourou
Prospects with historic drill
results
Desert Gold holds two gold Exploration Permits
(Farabantourou and Segala Ouest) within the Kenieba Birimian Inlier
of Western Mali. The Farabantourou project lies 40 km to the south
of Anglo Gold's Sadiola gold mine and 50 km north of Randgold's
Loulo-Gounkoto complex of gold mines.
![*Figure 2: Location of Desert Gold's Segala Ouest and Farabantourou exploration permits in western Mali (CNW Group/Desert Gold Ventures Inc.)](https://mma.prnewswire.com/media/642538/Desert_Gold_Ventures_Inc__Desert_Gold_Begins_Drilling_on_its_Far.jpg)
*Figure 2: Location of Desert Gold's Segala
Ouest and Farabantourou exploration permits in western
Mali
Jared Scharf, Desert Gold's President commented,
"This drill program is focussing on our Farabantourou property
which straddles the Mali-Senegal Shear Zone which hosts, in the
management's opinion, some of the best gold deposits in the world
combining high grade, multimillion ounce reserves and low mining
costs. After an extended period of inactivity we are very excited
to be actively developing this target
again."
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 approves the
scientific and technical disclosure in the news
release and has the necessary experience
relevant to the style of mineralization and types of deposits under
consideration and to the activity 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.
* Randgold's Loulo-Gounkoto mine complex to the
west with ore reserves of 32 Mt average at 4.6 g.t for 3.7 million
oz Au in the Proven and Probably category.
Endeavour Mining's Tabakoto and Segala mines which hosts ~3 million
oz Au (18.5 Mt at 3.5 g/t for 1.8 million oz au measured and
indicated, 9 Mt at 3.6 g/t for 1 million oz Au inferred and 6.4 Mt
at 3.5 g/t for 0.7 million oz au proven and probable.
B2Gold Fekola mine to the south with ore reserves of 48.3 million
Mt average at 2.37 g/t gold for 3.34 million oz au in the Proven
and Probably category and 65.8 million Mt average at 2.13 g/t gold
for 4.5 million oz au.
To the north Sadiola/Yatela mine contains ore reserves of 38
million Mt at 1.57 g/t gold for 2 million oz au and 87 million Mt
at 1.58 g/t gold for 6 million oz au in the measured and indicated
category.
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