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Desert Gold Ventures Inc. Receives One Year Extension on its Farabantourou Permit in Western Mali
VANCOUVER, BC / ACCESSWIRE / October 24, 2016 / Further to the press release dated September...
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":"Desert Gold Ventures Inc. Receives One Year Extension on its Farabantourou Permit in Western MaliVANCOUVER, BC / ACCESSWIRE / October 24, 2016 / Further to the press release dated September 12, 2016, Desert Gold Ventures Inc, (TSX-V: DAU) (FSE: QXR2) (OTC Pink: DAUGF) (the \"Company\") is pleased to announce that on October 21, 2016 the Company was granted official approval of its application for a one year extension on its exploration license at the Company's Farabantourou permit in Western Mali. The permit is now secured until November 19, 2017.\nAbout Farabantourou\n\n Farabantourou is located on the Senegal-Mali Fault Zone (SMFZ) 40km south of the IAMGOLD/AngloGold Anshanti Sadiola Mine and 50km north of Randgold's Loulou Mine. Both these mines are on the SMFZ. \n\n\n The Company has declared a NI 43-101 resource in the North Eastern sector of the property known as the Barani East Deposit. The resource contains the following gold content;\n\n\n \n An indicated mineral resource of 652,00 tons at 2.22 grams per ton for 46,600 ounces of gold.\n An inferred mineral resource of 317,000 tons at 2.29 grams per ton for 23,000 ounces of gold. \n Mineral resource estimates were made using a cut-off grade of 0.5 grams per ton.\n \n\n\n In addition to the Barani East deposit, Farabantourou hosts 5 other known mineralized zones that are largely unexplored combining for nearly 5 km of strike. The Company is actively seeking joint venture partners and investors to assist in the development of Farabantourou. \n\n\n The Company has developed a USD $1.5 million exploration program to asses the remaining targets at Farabantourou and complete the necessary engineering work to transition the permit into an exploitation license. Program highlights include;\n\n\n \n 3,000 meters of trenching \n 8,000 meters of RC drilling\n 3,500 meters of Diamond drilling\n \n\nImage: https://www.accesswire.com/uploads/Farabantourou_Permit.jpg\n\nTo view an enhanced version of the Known Mineralized Zones at Farabantourou, please visit: https://www.accesswire.com//uploads/Farabantourou_Permit_Enhanced.jpg \n(Known Mineralized Zones at Farabantourou)\nOther Targets on the Farabantourou Permit\nAt Barani East there is the possibility to further define the resource by exploring along the strike extension of the interpreted fault, to the northeast, increasing the pote...