Desert Gold Ventures Reports Gold Recoveries in Excess of 90% from Metallurgical Test Work on Samples from its Barani East Project in Western Mali
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 06/17/13 -- Desert Gold Ventures Inc. (TSX VENTURE: DAU) (the "Company" or "Desert Gold") is pleased to announce 94% gold recoveries from a comprehensive gold deportment and metallurgical test work study conducted on composite samples from the recently drilled Barani East Gold Deposit (the "Deposit"). The exceptional results warrant the immediate development of a process flow sheet and plant design as part of the Company's plans to advance to a mining prefeasibility study on the Deposit.
The two gold-bearing composite samples were examined at SGS South Africa (Pty) Ltd in Johannesburg. The samples were taken from boreholes 220m apart to test gold recovery of representative mineralization. The grades of the samples were:
The study indicated that:
About the project:
The Barani East Gold Deposit occurs on the Desert Gold's Farabantourou Permit located in Western Mali. The permit falls on the Senegal-Mali Fault Zone ("SMFZ"), 40km south of Sadiola Mine and 50km north of the Loulou Mine. Both these mines are on the SMFZ.
Barani East is the first of 6 prospects with proven gold mineralization expected to be developed by Desert Gold on the permit. The project was drilled to a depth of 120m and is open to depth in the southern part of the deposit.
Highlights include the following:
The Barani East indicated mineral resource has been defined to a maximum depth of 120m below surface and over a strike length of 400m. The orientation of the mineralized zone is NNE to SSW with mineralization occurring from surface, dipping SSE at 45 degrees. Gold mineralization is associated with quartz hematite rocks and kaolinite 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, gold grades vary significantly along strike and down dip.
Farabantourou strategy
Desert Gold's Farabantourou permit strategy is to develop the other 5 gold prospects to a mineral resource definition stage similar to what has been achieved at Barani East. Funding for drilling on the other 5 prospects may well be provided out of mining revenue from a low cost opencast mining operation on Barani East to extract the resource identified from surface to 120m depth. A preliminary feasibility study is underway to define the capex and cost associated with a potential mining operation to extract the resource as defined from surface. High grade Au intersections of 9.99g/t over 4m and 8.60g/t over 3.5m at 120m vertical depth show potential for developing an underground resource at Barani East following the exploitation of the open pit resource.
To view the maps associated with this press release, please view the following link:
The metallurgical results stated in this report have been reviewed by Dario Clemente, registered as a Fellow of the Southern African Institute of Mining and Metallurgy (SAIMM) No 701139 and member of the Mine Metallurgical Managers Association of South Africa (MMMA) No (M000984). He has sufficient experience which is relevant to the style of mineralisation and metallurgical processes under consideration and to the activity which he 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.
About Desert Gold
Desert Gold Ventures Inc. is an advanced exploration and development company which holds mining assets in Mali, Rwanda and Senegal.
This press release includes certain "forward-looking statements". All statements regarding the ability of the Company to successfully complete the Proposed Transaction and the Financing, to successfully integrate the businesses of Desert Gold and TransAfrika and to 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 or visit our website at .
Contacts:
Desert Gold Ventures Inc.
Roeland van Kerckhoven
President and CEO
1 (604) 566-9240
1 (604) 408-9301 (FAX)
Desert Gold Ventures Inc.
Jared Scharf
CFO
1 (416) 662-3971
1 (604) 408-9301 (FAX)
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Datum: 17.06.2013 - 12:12 Uhr
Sprache: Deutsch
News-ID 270216
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contact information:
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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