Business
Desert Gold Enters into Option Agreement with MMC
Delta, British Columbia--(Newsfile Corp. - May 7, 2019) - Desert Gold Ventures Inc. (TSXV: D...
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":"Desert Gold Enters into Option Agreement with MMCDelta, British Columbia--(Newsfile Corp. - May 7, 2019) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) (\"Desert Gold\" or \"the Company\") is pleased to announce that the Company has entered into an option agreement with Mineral Management Consulting (\"MMC\") to acquire a 100% interest in two properties contiguous and proximal to the Company's flagship Farabantourou gold project in Western Mali. MMC is a private company located in Bamako, Mali, involved in the acquisition and exploration of mineral properties. The MMC property acquisition is another step in Desert's Gold's regional strategic plan (see Figure 1). ABOUT THE MMC PROPERTIESThe first concession, Keniebandi East, is 60km2 in size and is contiguous to the northern border of the Company's Farabantourou property. A brief summary of the concession follows:Keniebandi East encompasses an additional 3.5 km portion of the Senegal Mali Shear Zone (\"SMSZ\")Upon completion of this acquisition Desert Gold would control exploration ground along 11 km of the SMSZ, which, regionally, is related to 6 gold deposits, 5 of which exceed 3 million ounces(1) The concession contains a partially tested 440-metre long, open-ended gold zone with historic drill values to 5.89 g/t gold over 8 metres The permit also contains an additional 26, untested, >200 ppb gold-in-soil anomalies, a group of which lies along a previously highlighted northeast-trending structural corridor, which hosts the Companies' Barani East gold deposit The second MMC concession, Koussili West, is 43km2 in size and lies immediately north, along strike, of Ashanti Gold's Gourbassi West Zone (Ashanti Gold is subject to an acquisition proposal by Desert Gold previously announced on April 1, 2019). The Gourbassi West Zone lies proximal to the interpreted location of the Main Transcurrent Fault, which is related to Barrick's 3-million ounce Massawa gold deposit(2). Even though Koussili West lies along a highly prospective trend, there is no previous recorded exploration. For reference, the Gourbassi West Zone has returned drill intercepts to 2.86 g/t gold over 43 metres. Mineralization hosted on adjacent properties is not necessarily indicative of mineralization that may be identified on the MMC properties.Both MMC properties have seen little to no pr...