Desert Gold Announces Newly Found Drill Data Provides Exploration and Resource Expansion Opportunities at SMSZ Project

Rhea-AI Summary

Desert Gold Ventures (DAUGF) has discovered historic drill data for 49 holes near the Mogoyafara South Deposit and 29 holes near the Linnguekoto West Deposit. These zones currently contain Inferred Mineral Resources of 479,000 ounces of gold grading 1.09 g/t gold.

Key findings at Mogoyafara South include significant intercepts such as 1.58 g/t gold over 33 metres and 0.83 g/t gold over 42 metres. At Linnguekoto West, notable results include 3.4 g/t gold over 12 metres. The new data validates and potentially expands the existing resource model, with drilling extending mineralization by 400-450 metres north and south at Mogoyafara.

Management believes this data could support a small increase in mineral resources and indicates strong potential for further resource expansion through additional drilling. The company is currently advancing a PEA for oxide and transition mineral resources at the Barani East and Gourbassi West Deposits.

Positive

• New drill data extends mineralization by 400-450 meters at Mogoyafara South
• High-grade intercepts including 1.58 g/t gold over 33 metres and 3.4 g/t gold over 12 metres
• Potential for resource expansion and increase in mineral resources
• PEA advancement for oxide and transition mineral resources

Negative

• 9 holes returned weaker mineralization than modeled
• 22 of 29 holes at Linnguekoto West showed no significant mineralization
• Some drill data and collar locations could not be verified or found

Surrey, British Columbia--(Newsfile Corp. - February 3, 2025) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to present newly discovered historic drill data for 49 holes on and proximal to, the Mogoyafara South Deposit and partial data for an additional 29 holes on and proximal to the Linnguekoto West Deposit (see Figure 4. for locations). Together, estimated gold resources at these two zones comprise Inferred Mineral Resources of 479,000 ounces of gold grading 1.09 g/t gold¹.

Highlights*:

Mogoyafara South Deposit Area ("MS") (see Figure 1.)

Drill results^*:

- 1.58 g/t gold over 33 metres in hole RCSP 1316 (confirmed model, zone double expected thickness)

- 0.83 g/t gold over 42 metres in hole RCSP 1313 (40 metre step-out, outside of resource pit, significantly wider than expected)

- 2.85 g/t gold over 11 metres in hole RCSP 1317 (confirms model)

- 1.78 g/t gold over 17 metres in hole RCSP 1304 (confirms model)

- 1.2 g/t gold over 23 metres and 0.87 g/t gold over 15 metres in hole RCSP 1300 (confirms model, 60 metre west step out from previous hole)

- 1.79 g/t gold over 14 metres in hole RCSP 1323 - (confirms model, slightly wider than expected)

- 1.16 g/t gold over 20 metres in hole RCSP 1301 (does not match model, shallower than expected)

- 1.25 g/t gold over 17 metres, 0.98 g/t gold over 16 metres and 0.99 g/t gold over 7 metres in hole RCSP 1302 (both better and worse than previous model, overall a bit better)

- 0.91 g/t gold over 23 metres in hole RCSP 1320 (confirms model)

- 1.46 g/t gold over 14 metres, 0.85 g/t gold over 19 metres and 1.14 g/t gold over 18 metres in hole RCSP 1311(confirms model, additional non-modelled mineralization at depth - 1.14 g/t gold over 18 metres)

Linnguekoto West Deposit Area ("LW") (see Figure 2.)

- 3.4 g/t gold over 12 metres ** in hole LN011 (~1.4 km south of LW resource pit)

* true width 70 to 100% of drilled length
** true width unknown

Company CEO Jared Scharf commented "The latest batch of drill and trench data enhances our understanding of the Mogoyafara South Deposit and suggests more drilling will likely lead to extensions of the gold zones. As well, one really good hole of 3.4 grams per tonne over 12 metres at Linnguekoto West, opens up a new exploration corridor to the South of the main zone and has the potential to significantly upgrade this target area. Overall, this new data further confirms our belief that the SMSZ project has significant, yet to be discovered, exploration blue sky."

Technical Data

Desert Gold recently located news releases and quarterly reports from Australian-based, Golden Rim Resources, which highlighted soil sampling, prospecting, trenching and drilling carried out over and proximal to the Mogoyafara South and Linnguekoto West gold Deposits. Data files for most of this work were acquired, compiled and evaluated.

Mogoyafara South

Newly acquired data includes assay results for 8,102 RC samples, including QAQC data for 49 RC holes totalling 6,885 metres within and proximal to the Mogoyafara Deposit. Twenty-six of the holes lie within the resource model and validate the model. However, 9 of these holes returned weaker mineralization than was modelled. Conversely, 11 holes returned additional mineralized intercepts and locally, significantly wider intercepts than expected. Drilling to the north and south of the deposit extended mineralization for an additional 400 and 450 metres, respectively.

In management's opinion, the new drill data has the potential to support a small increase in the mineral resources and indicates good potential to increase the mineral resource with more drilling.

Composites, using a 0.3 g/t Au cut-off and up to 3 metres of internal dilution, were calculated for the 49 holes (see Table 1 for assay composites) and Figure 1 for hole and select composite locations.

Linnguekoto West

A March 31, 2012 Golden Rim corporate summary report indicates that 29 RC holes totaling 4,035 metres was drilled in the Linnguekoto West Deposit area. This report, also provide composites for only seven drill holes (see Table 2) including a strong intercept of 3.4 g/t Au over 12 metres in hole Lin011 and indicate that no significant mineralization was encountered in the remaining 22 holes. Unfortunately, Desert Gold has not been able to acquire the drill data set and are relying on summary maps from the above quarterly report. Field work though, has located the collars of 20 holes and was not able to find 9 holes, one of which is within an artisanal site. Collar locations for four of the seven holes with composites were located in the field with holes Lin01, Lin02 and Lin04 either not labelled or not located.

Follow-up drilling to test high grade results in surface trenches that returned 3.15 g/t Au over 16 metres and 2.24 g/t Au over 43 metres, reportedly returned no significant results with Golden Rule remarking that the mineralization did not extend to depth. Hole Lin011 was drilled approximately 170 south of the above trenches. This drilled mineralization is open to the north and south.

Figure 1. Mogoyafara South Area - New Drillhole Data

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Figure 2. Linnguekoto West Area - New Drillhole Data

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Technical Study Update (The "PEA")

Work on the PEA for oxide and transition mineral resources at the Barani East and Gourbassi West Deposits is advancing quickly. As well, a mineral resource estimate for the Gourbassi West North Deposit is nearing completion. Outstanding items include additional non-material, gravity test work for the Barani East Deposit and geotechnical test work of the mineralized zones.

Exploration Next Steps

With the newly acquired Golden Rim drill, trench and grab sample data for the Mogoyafara South and Linnguekoto West areas, an updated drill plan is being prepared and will be included in a prioritized list of proposed exploration drill holes on the SMSZ property.

An additional initiative includes detailed mapping and re-modelling of the Barani Zone, where previous drilling intersected up to six, interpreted northerly-trending, semi-parallel lenses of gold mineralization along a 2 km strike that returned intercepts of up to 2.87 g/t Au over 3 metres (true width estimated at 2 metres) and 0.85 g/t Au over 24 metres (true width estimated at 5 metres). New artisanal workings suggest, at least locally, that mineralized structures may also trend northeast.

QAQC

A review of the available Golden Rim drill data for the Mogoyafara South drilling indicates that sample standards, duplicates and blanks were inserted every 20 samples resulting in QAQC samples inserted every 4 to 9 samples. A review of the QAQC data indicates all but one of the highlighted drill intercepts returned acceptable QAQC results with the one standard fail, likely due to a sample standard mix-up. An audit review of less significant drill intercepts revealed another two standard fails out of 34 drill intercepts that were reviewed, which were also likely related to sample standard mix-ups. A high-level review, including graphing the analytical results of the standards, duplicates and standards revealed generally acceptable values with occasional local fails and one standard, Geostats G905-5 exhibiting 11 standard fails at >3SD from the accepted value with none of these fails impacting any material composites. Unfortunately, there was no evidence of re-assays to validate assay batches related to standard or blanks failures. In addition to the assay review, of the 49 drill holes, collars were found for 32 holes, with 9 hole collars lost due to artisanal workings and 8 holes collars not located. Overall, there was excellent correlation with the drill database coordinates and the collar site locations on the ground with all collars found where expected.

For Linnguekoto West, there was no way to confirm the drill assay results or composite table. However, if the same methodology was followed for Linnguekoto West as for the Mogoyafara South drilling, which is the expected outcome, then it is expected that the composite table and general hole results comments, are reasonably accurate.

¹ Desert Gold news release data source Jan 17, 2022: Desert Gold Reports Measured and Indicated Mineral Resources of 310,300 ounces of Gold and Inferred Mineral Resources of 769,200 ounces of Gold at SMSZ Project, West Mali

Figure 3. SMSZ Project Location and Major Deposits in Western Mali and Eastern Senegal (* see deposit resources disclosures at end)

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Figure 4. SMSZ Property scale Summary and Zone location plan

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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. Technical Advisor for 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.

On Behalf of the Board

"Jared Scharf"
___________________________
Jared Scharf
President & Director

About Desert Gold

Desert Gold Ventures Inc. is a gold exploration and development company which controls the 440 km² SMSZ Project in Western Mali containing Measured and Indicated Mineral Resources of 8.47 million tonnes grading 1.14 g/t gold totaling 310,300 ounces and Inferred Mineral Resources of 20.7 million tonnes grading 1.16 g/t gold totaling 769,200 ounces. For further information please visit www.SEDAR.com under the company's profile. Website: www.desertgold.ca

Contact
Jared Scharf, President and CEO
Email: jared.scharf@desertgold.ca

This news release contains forward-looking statements. 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. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, liquidity risks, the degree to which Mineral Resource estimates are reflective of actual Mineral Resources, the degree to which factors which would make a mineral deposit commercially viable, and 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.

* Figure 1 disclosure

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Table 1. Mogoyafara South Composite Assays - 2009-2010 Drill program

BHID	FROM (m)	TO (m)	LENGTH (m)	g/t Au
RCSP1300GR	119	142	23	1.2
RCSP1300GR	147	162	15	0.87
RCSP1300GR	166	175	9	1.38
RCSP1300GR	62	63	1	0.6
RCSP1300GR	32	33	1	0.39
RCSP1301GR	125	145	20	1.16
RCSP1301GR	150	156	6	0.68
RCSP1301GR	5	11	6	0.35
RCSP1301GR	182	184	2	1.03
RCSP1301GR	91	93	2	0.63
RCSP1301GR	103	104	1	1.05
RCSP1301GR	208	209	1	0.88
RCSP1301GR	67	68	1	0.62
RCSP1301GR	242	243	1	0.63
RCSP1301GR	57	58	1	0.46
RCSP1301GR	19	20	1	0.37
RCSP1301GR	38	39	1	0.39
RCSP1301GR	114	115	1	0.36
RCSP1301GR	177	178	1	0.38
RCSP1301GR	26	27	1	0.33
RCSP1302GR	23	40	17	1.25
RCSP1302GR	60	76	16	0.98
RCSP1302GR	48	55	7	0.99
RCSP1302GR	7	11	4	0.8
RCSP1303GR	43	51	8	1.31
RCSP1303GR	8	29	21	0.48
RCSP1303GR	34	38	4	0.93
RCSP1303GR	100	105	5	0.59
RCSP1303GR	148	149	1	0.33
RCSP1304GR	30	47	17	1.78
RCSP1304GR	18	20	2	2.29
RCSP1304GR	74	78	4	0.89
RCSP1304GR	53	55	2	1.24
RCSP1304GR	62	63	1	0.36
RCSP1306GR	59	69	10	1.06
RCSP1306GR	38	53	15	0.59
RCSP1306GR	20	34	14	0.33
RCSP1306GR	14	15	1	0.6
RCSP1307GR	8	12	4	0.99
RCSP1307GR	158	159	1	3.2
RCSP1307GR	182	183	1	1.06
RCSP1307GR	34	36	2	0.5
RCSP1307GR	171	172	1	0.75
RCSP1307GR	190	191	1	0.7
RCSP1307GR	131	132	1	0.43
RCSP1307GR	69	70	1	0.32
RCSP1308GR	28	34	6	0.61
RCSP1308GR	53	54	1	0.48
RCSP1309GR	154	166	12	0.43
RCSP1309GR	107	111	4	1.29
RCSP1309GR	177	182	5	0.83
RCSP1309GR	55	60	5	0.73
RCSP1309GR	117	122	5	0.66
RCSP1309GR	139	142	3	0.72
RCSP1309GR	197	200	3	0.46
RCSP1309GR	128	131	3	0.41
RCSP1309GR	15	16	1	0.43
RCSP1309GR	101	102	1	0.3
RCSP1310GR	211	218	7	1.16
RCSP1310GR	16	20	4	0.93
RCSP1310GR	203	207	4	0.73
RCSP1310GR	189	190	1	0.63
RCSP1310GR	51	52	1	0.53
RCSP1310GR	155	156	1	0.44
RCSP1311GR	32	46	14	1.46
RCSP1311GR	113	131	18	1.14
RCSP1311GR	89	108	19	0.85
RCSP1311GR	74	85	11	0.43
RCSP1311GR	66	68	2	0.92
RCSP1312GR	41	48	7	0.83
RCSP1312GR	23	27	4	0.59
RCSP1313	77	119	42	0.83
RCSP1313	68	69	1	0.51
RCSP1314	34	39	5	0.57
RCSP1314	56	57	1	0.48
RCSP1315	10	13	3	1.65
RCSP1315	21	24	3	0.47
RCSP1315	69	71	2	0.51
RCSP1316	5	38	33	1.58
RCSP1316	59	60	1	0.49
RCSP1317	29	40	11	2.85
RCSP1317	54	55	1	0.63
RCSP1318	53	64	11	1.46
RCSP1318	37	39	2	0.97
RCSP1318	14	16	2	0.39
RCSP1319	88	98	10	1.61
RCSP1319	66	67	1	0.79
RCSP1320	40	63	23	0.91
RCSP1320	78	82	4	0.46
RCSP1320	31	35	4	0.44
RCSP1320	103	105	2	0.67
RCSP1320	24	25	1	0.35
RCSP1321	0	4	4	0.3
RCSP1321	82	83	1	1.11
RCSP1321	63	65	2	0.45
RCSP1321	51	52	1	0.68
RCSP1322	63	66	3	1.24
RCSP1322	25	27	2	0.56
RCSP1322	70	71	1	0.84
RCSP1322	51	52	1	0.61
RCSP1322	97	98	1	0.62
RCSP1322	56	57	1	0.53
RCSP1322	75	76	1	0.48
RCSP1322	19	20	1	0.3
RCSP1322	91	92	1	0.32
RCSP1323	19	33	14	1.79
RCSP1323	2	11	9	0.61
RCSP1323	68	77	9	0.44
RCSP1323	103	110	7	0.49
RCSP1323	40	41	1	1.06
RCSP1323	118	119	1	0.4
RCSP1324	23	33	10	1.37
RCSP1324	80	81	1	2.39
RCSP1324	38	40	2	0.67
RCSP1324	111	112	1	0.96
RCSP1324	17	18	1	0.32
RCSP1331	35	36	1	0.47
RCSP1331	20	21	1	0.35
RCSP1332	100	101	1	0.55
RCSP1332	85	86	1	0.31
RCSP1336	79	80	1	0.4
RCSP1338	10	14	4	0.68
RCSP1338	47	48	1	0.61
RCSP1338	122	123	1	0.35
RCSP1338	148	149	1	0.39
RCSP1339	10	12	2	1.57
RCSP1339	2	4	2	1.11
RCSP1339	56	57	1	0.55
RCSP1339	103	104	1	0.54
RCSP1340	25	30	5	0.72
RCSP1340	56	57	1	0.31
RCSP1341	92	98	6	2.13
RCSP1341	105	108	3	1.3
RCSP1341	62	63	1	0.46
RCSP1342	54	56	2	0.47
RCSP1342	60	61	1	0.64
RCSP1342	69	70	1	0.46
RCSP1342	112	113	1	0.38
RCSP1342	140	141	1	0.35
RCSP1343	20	30	10	0.41
RCSP1343	42	46	4	0.56
RCSP1343	15	16	1	0.43
RCSP1344	10	13	3	1.3
RCSP1344	139	142	3	0.55
RCSP1344	118	119	1	0.78
RCSP1344	102	103	1	0.63
RCSP1344	93	94	1	0.54
RCSP1344	4	5	1	0.36
RCSP1344	107	108	1	0.38
RCSP1346	109	110	1	3.9
RCSP1346	103	104	1	2.19
RCSP1346	3	4	1	0.43
RCSP1347	144	145	1	1.57
RCSP1347	103	104	1	0.32

 

Table 2. Summary report composites excerpt prepared by Golden Rim Resources in March 2012

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239315

FAQ

What are the key drill results from Desert Gold's DAUGF Mogoyafara South deposit in February 2024?

Key drill results include 1.58 g/t gold over 33 metres, 0.83 g/t gold over 42 metres, and 2.85 g/t gold over 11 metres, with mineralization extended by 400-450 metres north and south.

How many ounces of gold are in DAUGF's Mogoyafara South and Linnguekoto West deposits?

The two deposits contain Inferred Mineral Resources of 479,000 ounces of gold at a grade of 1.09 g/t gold.

What was the best drill intercept at DAUGF's Linnguekoto West deposit?

The best drill intercept at Linnguekoto West was 3.4 g/t gold over 12 metres in hole Lin011.

How many historic drill holes were discovered in DAUGF's February 2024 announcement?

The company discovered data for 49 holes near the Mogoyafara South Deposit and partial data for 29 holes near the Linnguekoto West Deposit.