09:23:56 EDT Thu 02 May 2024
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Desert Gold Ventures Inc (4)
Symbol DAU
Shares Issued 211,459,529
Close 2024-04-03 C$ 0.095
Market Cap C$ 20,088,655
Recent Sedar Documents

Desert Gold drills 729 m in four holes at SMSZ

2024-04-04 09:35 ET - News Release

Mr. Jared Scharf reports

DESERT GOLD COMPLETES EXPLORATION CORE DRILLING AT MOGOYAFARA SOUTH AND FRIKIDI GOLD ZONES; SMSZ PROJECT, WESTERN MALI

Desert Gold Ventures Inc. has completed four additional exploration core holes to test specific targets at its Mogoyarfara South gold deposit and Frikjdi zone.

Desert Gold's CEO, Jared Scharf, commented, "Thanks to the support of our shareholders, we were able to take advantage of the core drill that was on site for our PEA to drill four additional, high priority exploration core holes. These holes were designed to answer specific geological questions. We are very encouraged by what we see in the core and look forward to the assay results."

Four holes totaling 729 meters, were completed over the Mogoyafara South Deposit (two holes) and Frikidi Zone (two holes). Please see Table 1 for hole collar details and Figure 1, at end, for general zone locations.

The Mogoyafara South deposit 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 2 km by 3 km area of structural rotation, which is a feature deemed positive for the gold deposition in most structurally-related gold camps. Two angled core holes, 252 meters and 287 meters deep, 100 meters apart, were drilled into an area where modeling suggested multiple stacked lenses of gold mineralization. Both holes intersected potentially gold-mineralized, silicified, sericitized and albitized siltstones, sandstones and conglomerates that are cut by occasional mafic and felsic dykes. One of the holes was designed to cross an intercept that returned 1.62 g/t Au over 11 meters (estimated true width). The 2nd drill hole represents an 80 m down-dip step out from a historic intercept of 1.22 g/t Au over 41 meters (estimated true width). Additional details will be presented once assay results have been received and analyzed.

Sampling at the Frikidi gold target returned 61 rock samples containing more than 5 g/t Au, five of which returned 100 g/t Au or greater**. Frikidi represents an area of numerous artisanal mine workings within a 5 km by 2.5 km, northwest-trending, cross-cutting, magnetic high area. Hole FAW-24-DD-001, a portion of which is presented below (Image 1), was drilled to test for shallow-dipping mineralized structures that were observed in the artisanal mine shafts. The quartz-veined portions of the core shown below, intersected from 23.9 meters to 39.0 meters, is consistent with gold-bearing rock grab samples that were collected on surface. The second hole was drilled to validate a historic drill intercept of 1.07 g/t Au over 26 meters (true width unknown), which may represent a new mineralized trend. Assays are pending.

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.

* Desert Gold news releases January 17, 2022 and March 3, 2022** Desert Gold news release March 25, 2019

ABOUT DESERT GOLD

Desert Gold Ventures Inc. is a gold exploration and development company which controls the 440 km2 SMSZ Project in Western Mali containing Measured and Indicated Mineral Resources of 8.47 million tonnes grading 1.14 g/t gold totaling 310,300 ounces and Inferred Mineral Resources of 20.7 million tonnes grading 1.16 g/t gold totaling 769,200 ounces. For further information please visit www.sedarplus.ca under the company's profile. Website: www.desertgold.ca.

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