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Desert Gold Ventures Inc. Provides Corporate Update on Segala West Property in Mali, Western Africa
VANCOUVER, BC / ACCESSWIRE / October 26, 2016 / Desert Gold Ventures Inc. (TSXV: DAU) (FSE: ...
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":"Desert Gold Ventures Inc. Provides Corporate Update on Segala West Property in Mali, Western AfricaVANCOUVER, BC / ACCESSWIRE / October 26, 2016 / Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) (the \"Company\"), is pleased to provide the following update on its Segala West property in Western Mali.\nAbout Segala West\nThe Segala West permit is surrounded by several mines, which include Randgold's Loulo-Gounkoto mine complex to the West where the company has declared resources of 51 Mt at 4.4 g/t for 5.7 million oz au Measured and Indicated, 20 Mt at 3.9 g/t for 2 million oz au inferred and ore reserves of 32 Mt average at 4.6 g.t for 3.7 million oz au in the Proven and Probably category. Adjacent to the East of Segala West are Endeavour Mining's Tabakoto and Segala mines with Kofi and Kefola prospects to the north and south respectively. Within the Segala West permit exists a large soil geochemical anomaly covering an area of 24 km2 within which 3 significant artisanal mines are active. The surface expression of the neighbouring mine, Tabakoto (Endeavour Mining), which hosts ~3 million oz Au is less than 1 km2 (18.5 Mt at 3.5 g/t for 1.8 million oz au measured and indicated, 9 Mt at 3.6 g/t for 1 million oz au inferred and 6.4 Mt at 3.5 g/t for 0.7 million oz au proven and probable). The mineralization hosted on the Company's property is not necessarily indicative of the mineralization hosted on Loulo-Gounkoto and Tabakoto deposits. However, the extent and persistence of the soil geochemical gold anomaly is the surface expression of significant mineralization below ground. Combined with the extensive artisanal mining presence on sight, Desert Gold is actively seeking investors to finance a focused exploration program to prove the presence of mineralization at depth. \nPrevious exploration at Segala West focused on the Northern Sector of the permit. The company now intends to focus its exploration efforts in the southern area of the permit. The first area of interest is known as the \"Baroya area\" where extensive artisanal mining operations exist. \nHighlights:\n\n \n The Company successfully renewed the Segala West permit in July 2015 securing the permit until November 2017.\n \n \n The Company is actively seeking investors and joint venture partners to fund the USD $1.1 million exploration at Segala West'...