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Desert Gold Ventures Inc (4)
Symbol DAU
Shares Issued 195,466,386
Close 2024-03-13 C$ 0.07
Market Cap C$ 13,682,647
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Desert Gold begins drilling exploration holes at SMSZ

2024-03-14 09:47 ET - News Release

Mr. Jared Scharf reports

DESERT GOLD COMPLETES METALLURGICAL AND GEOTECHNICAL DRILL PROGRAM IN SUPPORT OF PRELIMINARY ECONOMIC STUDY ("PEA"); MOBILIZES RIG TO FRIKIDI

Desert Gold Ventures Inc. has completed its metallurgical and geotechnical drill program. This work was carried out to provide fresh core for metallurgical testing and geotechnical samples that are needed to support the processing and open-pit designs for mining of oxide and transition mineral resources.

A total of 12, 50-metre-to-160-metre-deep holes, totalling 905 metres, were completed over the Barani East (five holes), Gourbassi West (four holes) and Gourbassi West North (three holes) zones. The Barani East and Gourbassi West zones contain oxide and transition measured and indicated mineral resources of 131,000 ounces of gold grading 1.41 grams per tonne (g/t) gold (Au), and inferred mineral resources of 55,000 ounces of gold grading 1.22 g/t Au. A resource estimate will be prepared for the 1.6-kilometre-long Gourbassi West North zone. Oxide and transition resources at all three zones will be part of the PEA (preliminary economic assessment), which is currently in progress.

With the completion of the PEA portion of the drill program, the drilling rig has now commenced drilling of the first of four exploration holes at the Mogoyafara South and Frikidi zones.

The Mogoyafara South target contains open-pit-constrained inferred mineral resources 412,800 ounces of gold grading 1.05 g/t Au, making it the largest known gold deposit on the SMSZ project to date. This deposit is open along strike and to depth, and lies within a two km by three km area of structural rotation, which is a feature deemed positive for the gold deposition in most structurally related gold camps.

The Frikidi gold target returned 61 rock samples containing more than five g/t Au, five of which returned 100 g/t Au or greater. Frikidi represents an area of numerous artisanal mine workings within a five km by 2.5 km, crosscutting, magnetic anomaly.

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, PGeo, 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.

About Desert Gold Ventures Inc.

Desert Gold Ventures is a gold exploration and development company which controls the 440-square-kilometre SMSZ project in Western Mali containing measured and indicated mineral resources of 8.47 million tonnes grading 1.14 grams per tonne gold totalling 310,300 ounces and inferred mineral resources of 20.7 million tonnes grading 1.16 grams per tonne gold totalling 769,200 ounces.

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