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Desert Gold Commences Preliminary Economic Assessment of Oxide Gold Resources on Its Barani East and Gourbassi West Deposits, SMSZ Project, Mali
Exploration Drill Program Proposed at SMSZ Project Surrey, British Columbia--(Newsfile Corp. - F...
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":"Desert Gold Commences Preliminary Economic Assessment of Oxide Gold Resources on Its Barani East and Gourbassi West Deposits, SMSZ Project, MaliExploration Drill Program Proposed at SMSZ ProjectSurrey, British Columbia--(Newsfile Corp. - February 1, 2024) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the \"Company\") is pleased to announce the initiation of a Preliminary Economic Assessment (\"PEA\") to determine the viability of mining oxide and transition mineral resources at its Barani East and Gourbassi West gold deposits. These deposits lie on Desert Gold's SMSZ Property in western Mali (see Figures 1 and 2).Company CEO Jared Scharf commented, \"Management believes that gold in the oxidized portion of the Barani East and Gourbassi West Deposits can be profitably extracted. As such, a PEA has been initiated. If the PEA confirms our initial assumptions, work will be carried out to advance the project towards production. Assuming mining is initiated, the Company's goal will be to use the free cash flow to fund ongoing exploration at our SMSZ Project.\" Mr. Scharf also commented, \"With so many oxide targets on such a large property package, management believes there is significant merit in designing a mobile plant and camp that could be moved from one deposit area to another so that the Company can take advantage of the oxide facies gold mineralization that caps most of the deposits on our property and in the region. The Company's core objective remains the develop of a tier 1 gold project through targeted exploration. We believe both initiatives, mining and exploration, can be run concurrently.\"Technical study (the \"PEA\")BackgroundA PEA is being initiated to determine the economic viability of mining oxide gold resources at its Barani East and Gourbassi West gold deposits with gold recovery by heap leach. Emphasis will be placed on designing a mobile, camp, crushing and gold recovery infrastructure that could be moved from one oxide deposit to another.Overall, the oxide and transition portion of two deposits contains measured and indicated mineral resources of 131,000 ounces* of gold grading 1.41 g/t Au and inferred mineral resources of 55,000 ounces* of gold grading 1.22 g/t Au.Barani East and Barani Gap DepositsOxide and transition mineral resources at Barani East and Barani Gap comprise measur...