Surrey, British Columbia--(Newsfile Corp. - April 4, 2024) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) ("Desert Gold" or "the Company") announces that it 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.
Image 1. Core photos hole FAW-24-DD-001
Image 1. Silicified, sulphidized and potassically altered sandstone from the Frikidi Zone. Sampling in progress. The hole ended at 50 m depth.
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
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 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.
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.sedarplus.ca 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.
