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Mining Stocks News: Desert Gold (TSXV: DAU) Makes Additional Gold Discoveries at Its SMSZ Project Including 1.80 g/t Gold over 17 Metres* and 2.23 g/t Gold over 9 Metres*; Mali, West Africa

Delta, British Columbia – November 2, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (“Desert Gold” or “the Company”) is pleased to present the results for 123 holes totalling 7,521 metres completed on its Gourbassi East Zone, Gourbassi NE, Gourbassi SE, Sorokoto and Kamana target areas, on its SMSZ Project in Western Mali. Drilling in these areas has led to the discovery of new gold zones and extensions to known gold zones. This drilling represents the remaining results from the Company’s 257 hole, 18,161 metre drill program that was carried out from January to July 2021.

A summary of the drill highlights are as follows (see Figures 1 and 2 for more detail and Table 1 at end):

Kamana Area

  • 80 g/t gold over 17 metres including 2.54 g/t gold over 10 metres – New Discovery

Sorokoto North

  • 91 g/t gold over 22 metres – New Discovery

Sorokoto South

  • 80 g/t gold over 5 metres – New Discovery
  • 68 g/t gold over 6 metres – New Discovery

Gourbassi East

  • 98 g/t gold over 9 metres – Zone Extension south
  • 23 g/t gold over 9 metres – Zone Extension north

Gourbassi NE

  • 98 g/t gold over 8 metres – Zone Extension
  • 67 g/t gold over 14 metres – Zone Extension

Gourbassi SE

  • 04 g/t gold over 15 metres – Zone validation
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Figure 1. Summary Surface Plan Kamana and Sorokoto Target Areas

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Figure 2. Gourbassi East, Gourbassi NE and Gourbassi SE Target Areas

* Estimated true widths for the holes is from 70 to 90% of the intercept width with exception of Gourbassi SE where more information is required.

Desert Gold’s President & CEO Jared Scharf commented, “These results, yet again, demonstrate the exceptional exploration potential of our SMSZ Project. Through a combination of property acquisition and success at the drill bit, we have added several exciting new targets and enhanced existing gold zones. As a result of this work, obvious high priority targets have emerged for our upcoming 2022 drill campaign. This follow up campaign will be more focused on select targets that show the size and scalability characteristics of a potentially large deposit. We look forward to getting back out into the field as soon as we can.”

Technical Details

This release covers three target areas within the SMSZ property including Kamana, Sorokoto and Gourbassi East.

Komana

The Kamana area is an approximate 12 by 5 km area in the northern part of the property package. Previous drilling in the area returned an intercept of 11.05 g/t gold over 3.7 metres. In 2021, 15, up to 50 m long, AC holes and one RC hole were completed within the target area. The AC holes targeted six select, gold-in-auger anomalies, with individual holes and three drill fences of four holes. One of the drill fences intersected a new zone of gold mineralization with returning 1.8 g/t Au over 17 metres. This gold occurrence appears to lie approximately 1,900 metres southwest, along a north-northeast trending linear, from the intercept that returned 11.05 g/t gold. Eight additional, gold-in-auger anomalies, to 4,930 ppb gold, remain to be tested.

An 84-metre-long RC hole drilled under the 11.05 g/t gold intercept failed to intersect any gold mineralization even though quartz veins and altered sediments were intersected.

Sorokoto Area

The Sorokoto area includes Sorokoto North, where previous drilling by the Company, returned intercepts of 3.94 g/t Au over 4 metres, and, Sorokoto South, which lies along the northern strike extension of the Barani Zone and had never been explored. In 2021, Desert Gold first completed a series of auger lines and a gradient IP survey over the Sorokoto South area. The combination of the auger and geophysical data led to the definition of a series of north-trending gold-in-auger anomalies, which were subsequently tested by 71 AC holes. Of these, two holes returned newly discovered gold mineralization, 2.80 g/t gold over 5 metres and 2.68 g/t gold over 6 metres, on two, 400 metre spaced drill fences. It appears that these two intercepts may be part of the same mineralized structure. The remainder of the holes returned low to narrow gold values, effectively explaining most of the gold-in-auger anomalies.

Drilling in the Sorokoto North area comprised 6 AC holes and 3 RC holes. Five of the AC holes, which were drilled to test a gold-in-auger anomaly, 800 metre northwest along the trend of the Sorokoto North Zone, intersected new gold mineralization containing 0.91 g/t Au over 22 metres. The final AC hole, drilled to test a gap in the Sorokoto North Zone returned 2, closely spaced intercepts grading 1.97 g/t gold over 2 metres and 1.08 g/t gold over 2 meters. The 3 RC holes, to test the Sorokoto North zone, to depth, failed to intersect the zone. Based on drilling to date, the Sorokoto North Zone can be traced for 1,450 metres along strike, but, does not seem to extend to depth. This is consistent with the flat plunge of the mineralized zones in this part of the property.

Gourbassi East Zone Area

Exploration in the Gourbassi East Zone area includes 2,692 metres of drilling in 25 holes at the Gourbassi East, Gourbassi NE, Gourbassi SE and Berola Zones. Most of the holes were drilled over the Gourbassi East Zone to validate mineralization models and test for extensions of known zones.

Gourbassi East

The Gourbassi East Zone was tested with 1 core hole, 6 RC holes and 4 AC holes. The core hole was drilled to 336 metres and returned 6 narrow gold intercepts with the two deepest, 3.78 g/t gold over 1.6 metres and 2.08 g/t Au over 0.8 metres, being the deepest intercept of the Zone at 240 metres and 255 metres vertically below surface, respectively. These two intercepts are associated with a 23-metre-wide alteration zone within andesitic host rocks. This hole also intersected 10 g/t over 0.8 metres, 1.93 g/t over 0.4 metres, 0.96 g/t over 0.5 metres and 0.56 g/t gold over 2.6 metres.

Highlights from the RC drilling include the southernmost hole, FR-21-RC-013, which returned 1.98 g/t gold over 9 metres, 1.19 g/t gold over 4 metres and 5.46 g/t over 1 metre. This hole represents a 50 metre south step out and the most southerly gold intercept. Holes FR-21-RCD-017, FR-21-RC-014 and FR-21-RC-010 extended the gold mineralized lenses from 40 to 60 metres down dip with intercepts of 0.54 g/t gold over 3 metres, 0.83 g/t gold over 6 metres (and 1.39 g/t gold over 4 metres) and 1.34 g/t gold over 7 metres (and 0.99 g/t gold over 8 metres), respectively.

The northernmost RC hole extended a group of northerly-trending gold bearing lenses by 50 metres with an intercept of 2.23 g/t gold over 9 metres and a 100 m north step out from this hole returned an AC intercept of 0.51 g/t gold over 5 metres.

The Gourbassi East Zone remains open to the north, south and to depth.

Gourbassi NE

Gourbassi NE lies 600 metres east-northeast of the Gourbassi East Zone. This 500-metre-long, northerly-trending zone is associated with a manganese-rich shear zone and a small granitic intrusion. Historic drilling returned a best intercept of 1.83 g/t gold over 8 metres. Drilling in 2021 returned intercepts of 0.67 g/t gold over 14 metres (southernmost hole), 0.98 g/t gold over 8 metres, 0.54 g/t gold over 6 metres and 0.44 g/t gold over 9 metres. The two southernmost holes extended the zone for 300 metres, which is still open to the north, south and to depth.

Gourbassi SE and Berola

The Gourbassi SE and Berola Zones had previously returned intercepts of 0.67 g/t gold over 14 metres and 1.03 g/t gold over 18 metres.

Follow up holes at Gourbassi SE returned 1.04 g/t gold over 15 metres (including 1.73 g/t gold over 6 metres) and 0.52 g/t gold over 4 metres. This zone has only been intersected on one drill fence and may be flat lying. This zone appears to be hosted by a silicified, pyritic, intermediate volcanic breccia.

Two RC holes were drilled at Berola. One of the holes intersected 0.33 g/t gold over 5 metres, approximately 40-45 metres below the historic intercepts. It is not clear if the intercepts are connected. The southern RC hole did not intersect any significant mineralization. Mapping and drill testing of 4, >100 ppb gold-in-auger anomalies is still required in the Berola area.

Next Steps

Work on a 43-101 compliant technical report continues. Updated modelling of mineralized zones is in progress. Assuming no technical issues, this report is scheduled to be completed at or before the resumption of drilling.

2021 exploration results have resulted in the identification of two high priority target areas, Gourbassi West and Mogoyafara South. In management’s opinion, each of these areas, which are proximal to the Main Transcurrent and Senegal Mali Shear Zones, respectively, has the potential for the discovery and delineation of significant gold deposits. As such, the next drill program will focus on these zones in terms of allocation of planned meterage. In conjunction with drilling at these two zones, follow-up drill testing at 10 zones (Barani East, Gourbassi East, Linnguekoto West, Manakoto, Soa, Kamana, Frikidi, Sorokoto North, Sorokoto South and Berola) where 2021 drilling returned follow-up worthy results, will also be carried out as a secondary priority. Then as a third priority, there are a large number of strongly anomalous, gold-in-auger and soil anomaly targets requiring drill and auger drill testing.

2022 exploration expenditures are expected to allocated with 70% towards the high priority target areas, 20-25 % towards the 2nd priority targets and 5-10% towards follow-up of anomalous auger and soil geochemistry. Supportive exploration work such auger drilling, geological mapping and geophysical surveys will likely also form part of the 2022 program.

About the SMSZ Project

The ~440 km2 SMSZ Project is both named after, and, overlies a 43 km section of the Senegal Mali Shear Zone (see Figure 3 and 4), which is related to 5 large gold mines located both to the north and south, along strike, including B2 Gold’s Fekola Mine, Barrick’s Gounkoto and Loulo Mines and AngloGold Ashanti/Iamgold’s (now Allied Gold’s) Sadiola and Yatela Mines1. To the Company’s knowledge, the SMSZ Project is the largest, contiguous, non-producer land package over this very prospective structural feature. Exploration targets within 5 km of the Senegal Mali Shear Zone, are considered by management, to be high priority exploration targets.

QAQC

All auger and drill chip and core samples are delivered to SGS in Bamako, Mali where they are prepped. The prepped samples, are both shipped by truck to SGS’s facility in Ouagadougou, Burkina Faso, or remain at SGS’s laboratory in Bamako, for Au determination by fire assay. Standards, assay blanks and sample duplicates, are inserted into the assay stream every 22 to 30 samples, respectively equaling one control sample for every approximately every 8 assay samples. All assay batches are reviewed for quality with re-assays requested 20 samples on either side of standards that assay more than 2 to 3 SD from an excepted value and for blanks that contain more than 10 ppb gold.

There is no QAQC record for the historic fire assays for the Barani East, Barani, Keniegoulou, Keniegoulou South, Mogoyafara South, Linnguekoto West and KE zones and as such, until validated, may not be relied on with 100% certainty. However, from follow-up exploration carried out to date, the correlation between historic gold values and subsequent validation work, have generally been within acceptable parameters.

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.

About Desert Gold

Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration projects in Western Mali (SMSZ Project and Djimbala). For further information please visit www.SEDAR.com under the company’s profile. Website: www.desertgold.ca

On Behalf of the Board of Directors

“Jared Scharf”
Jared Scharf, President & CEO

Contact:

Jared Scharf, President & CEO
Email: [email protected]
Tel. No.: +1 (858) 247-8195

For further information please visit our website www.desertgold.ca or information available on www.SEDAR.com under the company’s profile.

Certain statements contained in this release may constitute “forward-looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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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Figure 3. SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal

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Figure 4 – Property Scale Compilation Map****All gold grades over width, with the exception of the Soa, Berola and Gourbassi prospects, represent drill holes with the true widths, for most holes, ranging from 65 to 95%. Estimated true widths for the Soa and Berola prospects are unknown. Estimated true widths at the Gourbassi Zones are estimated to range from 60% to 90%.

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