TSX.V: DAU
Frankfurt: QXR2
OTC: DAUGF
DELTA, BC, Feb. 15, 2018 /CNW/ - 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
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
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.
SOURCE Desert Gold Ventures Inc.
