TSX.V: DAU
Frankfurt: QXR2
OTC: DAUGF
DELTA, BC, Oct. 18, 2018 /CNW/ - Desert Gold
Ventures Inc. ("Desert Gold" or "the Company") (TSXV: DAU) (FF:
QXR2) (OTC: DAUGF) is pleased to provide guidance regarding the
upcoming work season. The Company is also pleased to announce that
during ongoing geological mapping and surficial exploration at its
Farabantourou permit, the Company has discovered a new mineralized
trend consisting of several active large artisanal mining sites
known as the Frikidi trend.
Frikidi Trend Observation
The newly discovered Frikidi trend and related artisanal mining
areas are hosted by strong, sericite-, potassic- and pyrite-altered
felsic sills that intrude a northwest-trending package of
intermediate volcanic rocks along a 2.4 km long, northwest trend.
Two grab samples of the zone returned 29.7 g/t Au and 0.83 g/t Au
which strongly supports the observed artisanal mining. Proximal
'waste' piles up to five metres high are predominantly comprised of
strongly altered felsic intrusion and are believed to be
gold-bearing. Further geological mapping and additional rock
sampling will be conducted on this target later in the year. Grab
samples are selected samples that are not necessarily
representative of the mineralization hosted on the property.
The Frikidi zone host rocks are inferred to be folded
equivalents of the Mako Series rocks which host Teranga's Sabodala
Mine, Toro Gold's Mako Mine and
Randgold's advanced Massawa exploration project, which lie on the
western side of the Mali-Senegal Shear Zone. This occurrence area
has never been drill tested before and represents additional upside
to Desert Gold's Farabantourou Project (see Figure 1).
Gold-in-soil Follow-up
In addition to a follow-up on historic drill results,
property-scale soil sampling demonstrates a significant amount of
gold-in-soil anomalies and anomalous gold-in-soil anomaly trends
that have not yet been fully evaluated. The newly discovered
Frikidi Trend was one of these anomalous areas. Based on the
attached figure, there are in excess of 45 untested gold-in-soil
anomalies containing greater than 200 ppb gold with values ranging
up to 7,589 ppb gold. These anomalies occur both east and west of
the Mali-Senegal Shear Zone, suggesting significant exploration
potential in a variety of geological settings (see Figure 1).
Work Commencement
Fieldwork in Mali is scheduled
to start in early December 2018
shortly after the end of the rainy season and continue into 2019.
The company is planning an ambitious exploration program at all
three of its properties in Mali.
At Farabantourou, drilling is planned to follow-up known gold
zones. At Farabantourou and Segala West, auger drilling will be
carried out over select laterite-covered zones in conjunction with
geological mapping, prospecting and systematic evaluation and
prioritization of strong gold-in-soil targets. At Djimbala, which
is contiguous to Hummingbird's Yanfolila mine permit, previously
collected soil samples will be analyzed with follow-up field
evaluation and property-scale mapping. This work, in conjunction
with drilling, is expected to lead to the development of a
significant amount of new priority drill targets at all three
properties.
Desert Gold holds three gold projects (Farabantourou, Segala
Ouest and Djimbala), of which, Farabantourou and Segala West are
located within the Kenieba Inlier of western Mali. The Farabantourou project lies 40 km to
the south of AngloGold Ashanti's/Iamgold's Sadiola gold mine and 50
km to the north of Randgold's Loulo-Gounkoto complex gold mines
(see Figure 2).
(1)
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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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QAQC
All rock samples were geologically described following Desert
Gold's established standard operating procedures. All individual
samples represent approximately 2-kilogram which is sent for
preparation and gold assaying at the SGS laboratories in
Bamako, Mali. Each sample is
fire-assayed for gold by SGS laboratories in Bamako using Au-FAA505 method which is a 50g
fire assay fusion with AAS instrument finish. In addition to SGS
own QA/QC (Quality Assurance/Quality Control) program, an internal
quality control and quality assurance program is in place
throughout the sampling program, using blind duplicates
(1 :20), blanks (1 :20) and recognized industry standards
(1 :20).
ON BEHALF OF THE BOARD
"Sonny Janda"
___________________________
Sonny Janda
Director
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.
Additional information can also be viewed at 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.
SOURCE Desert Gold Ventures Inc.