Desert Gold's Mali Exploration Program Delivers Excellent Grades; Update on Drill Results at the Barani East Project, Mali
TORONTO, ONTARIO--(Marketwire - Jan. 15, 2013) - Desert Gold Ventures Inc. (TSX VENTURE:DAU) (the "Company" or "Desert Gold") is pleased to announce the successful completion of a drilling program at the Barani East gold prospect on its Farabantourou permit in Mali. The prospect is in Western Mali on the Senegal-Mali Fault Zone (SMFZ), 40km south of Sadiola Mine and 50km north of Loulou Mine. Both these mines are on the SMFZ. The aim of the drilling program was threefold, firstly to verify existing data on gold grades for resource purposes, secondly to obtain material for metallurgical test work and thirdly to determine the physical properties of the wall rocks and mineralization for potential opencast mining of the prospect. Results to date are positive and confirm the company's predictions with gold grades higher than previously reported.
Rock hardness is indicative of free digging and oxidization of the gold bearing rock reaches down to 100m, the mining depth under consideration. A total of 1147m has been drilled in 16 holes along the 350m strike of the deposit. 4 holes were drilled by means of diamond drilling and 12 by means of reverse circulation drilling. The orientation of the mineralized zone is NNE to SSW with mineralization occurring from surface, dipping SSE at 45°. Gold mineralization is associated with quartz hematite rocks and carbonate veins. Thickness of the mineralized zone varies with an average thickness of 4.5m and a maximum width of up to 15m. As with these types of deposits, grades vary significantly along strike and down dip. Mineralization is open down dip in the southern part of the deposit. The latest intersections made by the company are given in Table 1. Borehole BERC12-002 intersected 13m at an average grade of 7.8g/t Au, including 3m at a grade of 22.9g/t Au. Down dip of this intersection, borehole BERC12-003 intersected 10m at a grade of 8.4g/t Au. Borehole BERC12-010 intersected 6m at a grade of 9.37g/t including 46.5g/t over 1m.
Table 1. Intersections from recent drilling
|
Hole No
|
From
(m)
|
To
(m)
|
Intersection
width
(m)
|
Estimated
true
width
(m)
|
Au
(g/t)
|
| BERC12-001 |
16.00 |
20.00 |
4.00 |
3.6 |
0.53 |
|
28.00 |
29.00 |
1.00 |
0.9 |
1.98 |
|
41.00 |
44.00 |
4.00 |
3.7 |
2.88 |
| BERC12-002 |
17.00 |
30.00 |
13.00 |
11.5 |
7.81 |
| including |
21.00 |
24.00 |
3.00 |
2.7 |
22.85 |
| BERC12-003 |
21.00 |
23.00 |
2.00 |
1.8 |
2.88 |
|
26.00 |
36.00 |
10.00 |
8.8 |
8.40 |
| BERC12-004 |
70.00 |
72.00 |
2.00 |
1.8 |
2.22 |
| BERC12-005 |
1.00 |
9.00 |
9.00 |
7.9 |
3.54 |
|
18.00 |
21.00 |
3.00 |
2.7 |
0.81 |
| BERC12-008 |
19.00 |
25.00 |
6.00 |
5.4 |
4.78 |
|
28.00 |
31.00 |
3.00 |
2.7 |
1.37 |
|
39.00 |
42.00 |
3.00 |
2.7 |
5.61 |
| BERC12-009 |
37.00 |
42.00 |
5.00 |
4.5 |
0.62 |
|
55.00 |
58.00 |
3.00 |
2.7 |
4.28 |
| BERC12-010 |
97.00 |
103.00 |
6.00 |
5.4 |
9.37 |
| including |
98.00 |
99.00 |
1.00 |
0.9 |
46.5 |
| BERC12-011 |
18.00 |
21.00 |
3.00 |
2.7 |
0.82 |
| BERC12-012 |
54.00 |
58.00 |
4.00 |
3.0 |
3.05 |
Sample assaying was conducted by ALS Mali SARL Bamako laboratory. The samples were assayed by means of a fire assay with an atomic absorption finish.
To view the maps accompanying this press release, click on the following link: http://media3.marketwire.com/docs/d115m.pdf
About Desert Gold
Desert Gold Ventures Inc. is an advanced exploration and development company which holds mining assets in Mali, Rwanda and Senegal.
For further information concerning Desert Gold Ventures Inc. and the TransAfrika material properties, please refer to Desert Gold's SEDAR profile at www.sedar.com or visit our website at www.desertgold.ca.
The information in this report that relates to exploration results has been reviewed by Kathleen Body, Principal Consultant Resources at Coffey Mining Johannesburg, registered as a Professional Natural Scientist with the South African Council for Natural Scientific Professions. She has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which she is undertaking to qualify as a Qualified Person as defined in National Instrument 43- 101.
This news release has been prepared on behalf of the board of directors of Desert Gold, which accepts full responsibility for its contents.
Louw van Schalkwyk, B.Sc. Geology (Honours), Vice President, Exploration, Director
This press release includes certain "forward-looking statements". All statements regarding the ability of the Company to successfully delineate new resources in proposed drilling programs are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include the inability of the Company to close the Proposed Transaction and the Financing due to the state of the capital markets and other risk factors as discussed in the Company's filings with Canadian securities regulatory agencies. The Company expressly disclaims any obligation to update any forward-looking statements except as may be required by law.
For further information concerning Desert Gold Ventures Inc. and the TransAfrika material properties, please refer to Desert Gold's SEDAR profile at www.sedar.com or visit our website at www.desertgold.ca.
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.
Contact Information:
Desert Gold Ventures Inc.
Roeland van Kerckhoven
President and CEO
230 211 862511 8625
+1 (778) 372-1790 (FAX)
roelandvk@desertgold.ca
Desert Gold Ventures Inc.
Jared Scharf
CFO
1 (416) 662-3971
1( 778) 372-1790 (FAX)
jared.scharf@desertgold.ca
www.desertgold.ca