Desert Gold Begins Drill Program at its Segala West Permit in Western Mali
2017年11月15日 - 3:48AM
InvestorsHub NewsWire
Desert Gold Begins Drill Program at its Segala West Permit in
Western Mali
Targets Include Untested
Artisanal Mining Zones at Three Sites That Returned Grab Samples in
Excess of 30 g/t Au per tonne and a Conceptual Granite-Hosted
Target
Delta, British Columbia -- November 14, 2017 --
InvestorsHub NewsWire -- Desert Gold Ventures
Inc. (“Desert Gold” or “the Company”)(TSX: DAU, FF: QXR2, OTC: DAUGF) is pleased to
announce the start of its previously announced drill program at
Segala West. The Company also recently completed a mapping, rock
and soil sampling program at Yatia West; a newly discovered
artisanal mining site located in the northwest of the permit.
ABOUT THE DRILL PROGRAM
The drill program currently underway consists of two phases
designed to test a series of multi-kilometer long,
northeast-trending structures including the following:
- The strike continuation of the east-northeast structures that
host Endeavour’s Segala mine
- A parallel, northeast-trending structure that cuts a granitic
body where a ‘Roxgold-type’ target has been generated
- Two northwest-trending structures that host untested artisanal
mining areas that have returned grab samples up to 50 g/t Au and a
very unique style of primary iron oxide related gold
mineralization
- Phase 1 consists of 1,000 meters of diamond drilling for which
5 holes are planned
- Phase 2 consists of 2,000 meters of reverse circulation
drilling consisting of 18 holes and 5,000 meters of air core
drilling consisting of 100 holes
Desert Gold’s President Jared Scharf commented, “We are very
pleased to finally begin drilling at Segala West. We have wanted to
drill this target for quite sometime and are now in a position to
do so. Results from surface exploration this year are very
encouraging and have allowed us to refine our targets and improve
our knowledge of the area. We look forward to providing guidance to
the market as results come out”
Figure
1. Airborne analytical signal magnetics image of
Segala West permit showing all major open pits, significant
historical drill intercepts and significant values from recent grab
sampling programs
NEW HIGHLIGHTS FROM THE GRAB SAMPLING PROGRAM AT YATIA
WEST
Assay results from grab samples received from pit mapping and
rock sampling at Yatia West returned significant high-grade gold
values including the following:
- 50 g/t;
- 13.8 g/t;
- 10.9 g/t;
- 9.63 g/t; and
- 8.33 g/t
RESULTS FROM ROCK SAMPLING AND MAPPING PROGRAM AT YATIA
WEST
Located to the north of the Baroya NW prospect, the artisanal
mining area is roughly 450 meters in strike length and 40 meters in
width. Yatia West is active with more than 100 local artisanal
miners. The geology is characterized to the west by epiclastic
silts and sandstone formations and to the east by detrital siltites
and argillite sedimentary formations. These rock units are locally
hematite, limonite and kaolinite altered. Different types of quartz
veins related to the gold mineralization include individual veins,
stockworks and quartz veins and associated disseminated box works
with shearing. The mineralized zones strike 350 azimuth and dip 45
to 70 degrees to the west. A total of 58 samples were collected and
sent to SGS Laboratories in Bamako to be assayed. Grab samples are
selective samples and are not necessarily representative of the
mineralisation hosted on the property.
RESULTS FROM YATIA WEST ROCK SAMPLING PROGRAM DELIVERING
>1 G/T AU
ABOUT SEGALA WEST
The Segala West permit is surrounded by several large gold mines
including Randgold’s Loulo-Gounkoto mine complex to the West where
the company has declared resources of 51 Mt at 4.4 g/t for 5.7
million oz au Measured and Indicated, 20 Mt at 3.9 g/t for 2
million oz Au inferred and ore reserves of 32 Mt average at 4.6 g.t
for 3.7 million oz Au in the Proven and Probably category.
Adjacent to the East of Segala West are Endeavour Mining’s
Tabakoto and Segala mines with Kofi and Kefola prospects to the
north and south respectively. The surface expression of the
neighboring mine, Tabakoto (Endeavour Mining), which hosts ~3
million oz Au is less than 1 km2 (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).
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 that he is
undertaking to qualify 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.
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