{kanada_flagge}As of November 1, it’s official: Desert Gold Ventures Inc. (TSX.V: DAU, FRA: QXR2) has added another two strategic gold zones totaling 30.6 km² to its 440 km² SMSZ project in western Mali. The acquisition of the Kolomba license, with the two sub-projects Mogoyafara South and Linnguekoto West on the southern edge of the SMSZ project, could be a key moment for the company.
Virtually at zero cost, Desert Gold secures access to an additional 31,000 meters of historical drill data that includes some of the best results from the entire SMSZ project. The best results document drill intercepts of 7.78 g/t gold over 19 metres (at Mogoyafara) and 2.04 g/t gold over 41 metres (at Linnguekoto). Between 1999 and 2003, the Kolomba license had been owned by Hyundai, a Korean automobile manufacturer. No exploration has taken place since then.
Under the terms of the Kolomba license, the Company retains all mineral exploration rights for three years from the date of issue (November 1, 2021) and has the right to renew the license for two additional two-year periods, securing the Company’s exploration rights until November 1, 2028.
Kolomba is characterized by two significant gold zones where a total of 31,000 meters of historic drill holes were completed between 1999 and 2003. Both zones are open at depth and along strike and returned some of the best drill results on the SMSZ project in terms of grade across width. Modeling of these zones is underway, with drill testing expected to commence early in the first quarter of 2022, accompanied by geological mapping and IP and magnetic geophysical surveys.
Jared Scharf, President and CEO of Desert Gold, said, “The acquisition of Kolomba and the 31,000 meters of historic drill holes for the price of one application is a great win for our shareholders. The gold zones at Kolomba are among the most prospective we have seen in the belt. Given their strategic location, less than 20 kilometers from our recent Gourbassi West discovery, for example, the Kolomba permit will be a focus of our upcoming 2022 drilling campaign.”
Figure 1: The 440 km² SMSZ project at a glance. The 30.6 km Kolomba license (outlined in red) is located on the southern edge of the SMSZ project. Kolomba includes two subprojects, Linnguekoto West and Mogoyafara South. These zones will be the focus of the Company’s 2022 drilling campaign and have the potential to significantly expand the Company’s resource base in the near future.
The majority of the historical work on the Kolomba concession area was carried out by Hyundai between 1998 and 2003. Little to no exploration work has been conducted on the property since 2003. Hyundai’s extensive work included 30,894 meters of drilling in 407 holes, of which 328 and 78 holes were completed in the Mogoyafara South and Linnguekoto West zones, respectively. Desert Gold has a copy of the drill database for the entire concession area.
Mogoyafara South
The northwest trending Mogoyafara South zone lies immediately east of the suspected location of the Senegal Mali shear zone. Several gold-bearing lenses were discovered within an open area of 1,900 by 1,300 meters. Initial modeling indicates the presence of up to 56 shallow to moderately east-dipping gold-bearing lenses, with individual lenses having highlighted intercepts of 2.15 g/t Au over 29 metres (estimated true width of 25 metres), 2.04 g/t Au over 41 metres (estimated true width of 35 metres) and 1.40 g/t Au over 55 metres (estimated true width of 40 metres). Higher grade intercepts include 20.87 g/t Au over 6 meters (true width unknown due to lack of data). Previous work, conducted primarily by Hyundai, covered 24,362 meters in 329 holes. Anomalous rock samples and gold-in-termite samples indicate the potential to extend the zone southward an additional 1,200 meters.
As with the Linnguekoto West zone, Desert Gold has a complete exploration database but does not have access to drill core/RC chips and original assay certificates. However, the Company has validated the location of several drill holes in the area and has high confidence in the quality of the historical exploration data.
Linnguekoto West
The northwest trending Linnguekoto West zone lies immediately east of a northeast trending mafic vein associated with the Barani East gold zone. This vein is believed to lie along a shear zone that is locally gold-bearing and can be traced for approximately 25 kilometers as it passes through the property. Previous exploration at Linnguekoto West included 78 drill holes totaling 6,532 metres. This northeast trending zone can be traced along strike for over 500 metres (see Figure 2), with the deepest holes intersecting gold mineralization at a vertical depth of approximately 140 metres. Gold mineralization remains open at depth and along strike. Best-fit modeling indicates a steeply west-dipping, generally high-grade, 1.5 to 7 metre wide gold-bearing lens intersected by and associated with up to six shallowly east-dipping, subordinate gold-bearing lenses with grades up to 2.62 by 15 metres (estimated 14 metre true width). The steeply dipping lens returned highlighted grades of 16.07 g/t Au over 7 meters (estimated true width of 4.0 meters), 7.78 g/t Au over 19 meters (estimated true width of 4.9 meters) and 3.51 g/t Au over 29 meters (estimated true width of 8 meters).
Conclusion: The acquisition of the Kolomba license could act as a catalyst for Desert Gold. CEO Jared Scharf is rightly excited about his coup. With the least amount of effort possible, he has secured world-class exploration targets with rich historical information. In honor of the previous Korean owner, one might almost speak of a “Hyundai Turbo” for Desert Gold. The automaker has poured millions of dollars into the project over the years, which is now benefiting Desert Gold shareholders. It’s important to remember where the gold price was in 2003 when Hyundai pulled out. Under today’s conditions, the historical results provide a tremendous treasure trove of data. Desert Gold has just begun to mine that treasure. In the best case scenario, the recent acquisition could develop transformative significance for Desert Gold.
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According to §34b WpHG and according to section 48f paragraph 5 BörseG (Austria) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares of Desert Gold Ventures and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss the stocks we recommend during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is the prospect of a consulting or other service contract between Desert Gold Ventures and GOLDINVEST Consulting GmbH, which means that a conflict of interest exists.
