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TORONTO, ONTARIO–(Marketwire – May 23, 2012) – Desert Gold Ventures Inc. (TSX VENTURE:DAU) (the “Company” or “Desert Gold”) is pleased to announce positive results of the ongoing drill program at its Byumba Gold Permit in Rwanda. Desert Gold is conducting core drilling to increase the current 43-101 compliant inferred resource of 5,551,000 tons at a grade of 1.48g/t Au (265,000 ounces) by drilling along the extensions of the deposit. In its latest program Desert Gold drilled 2,900m in 12 holes along the north-northwestern extension of the existing resource. 80% of assay results were received and 45 sampled intervals assayed above 1g/t Au.
So far drilling confirms a continuous 1,200m mineralized zone. The orientation of the zone is NNW to SSE with sub-outcropping mineralization. Gold mineralization occurs in broad low grade zones hosting zones of higher grade mineralization. The mineralization remains open down dip and along strike.
| Table 1. Selected intersections from boreholes RB11-34 to RB12-40, drilled on the extension of the current resource | |||||
| Hole No | From (m) | To (m) | Intersection width (m) | Au (g/t) | |
| RB11-34 | 25.47 | 31.47 | 6.00 | 0.86 | |
| RB11-34 | 110.38 | 122.57 | 11.74 | 0.56 | |
| including | 110.83 | 112.85 | 2.02 | 2.15 | |
| RB11-34 | 129.30 | 143.35 | 14.05 | 0.65 | |
| including | 141.31 | 143.35 | 2.04 | 1.10 | |
| RB11-35 | 114.15 | 130.21 | 14.31 | 0.70 | |
| RB11-35 | 122.58 | 130.21 | 5.90 | 1.27 | |
| RB12-35 | 180.74 | 181.80 | 1.06 | 6.21 | |
| RB12-36 | 95.14 | 111.20 | 16.06 | 0.59 | |
| including | 102.30 | 109.50 | 7.20 | 0.80 | |
| RB12-38 | 150.81 | 152.16 | 1.35 | 3.12 | |
| RB12-38 | 199.02 | 201.86 | 2.84 | 2.12 | |
| RB12-39 | 13.84 | 36.23 | 22.39 | 0.76 | |
| including | 13.84 | 16.97 | 3.03 | 1.56 | |
| including | 29.45 | 36.23 | 6.78 | 1.09 | |
| RB12-40 | 267.90 | 276.24 | 8.34 | 0.51 | |
The chemical analyses were conducted by ALS Chemex Johannesburg using the fire assay method with a ICP-AES finish. Results show the mineralization to extend for 400m and more to the NNW of the current resource. Desert Gold expects that continued drilling along strike and on down dip extensions will increase the current resource significantly.
To view Figures 1 and 2, visit the following link: http://media3.marketwire.com/docs/DAUfigures1and2.pdf
About Desert Gold
Desert Gold Ventures Inc. is an advanced exploration and development company which holds mining assets in Mali, Rwanda, Senegal and a 50% participating interest in a joint venture agreement with Kinross Goldbanks Mining Company (a subsidiary of Kinross Gold Corporation) of Toronto, Ontario in respect of the Goldbanks Mining property located in Pershing County, Nevada, USA.
For further information concerning Desert Gold Ventures Inc. and the TransAfrika material properties, please refer to Desert Gold’s SEDAR profile at www.sedar.com or visit our website at www.desertgold.ca.
A. H. Vermaak (Pr. Sci. Nat) is the independent Qualified Person responsible for the technical information reported herein. This news release has been prepared on behalf of the board of directors of Desert Gold, which accepts full responsibility for its contents.
Louw van Schalkwyk, B.Sc. Geology (Honours), Vice President, Exploration, Director
This press release includes certain “forward-looking statements”. All statements regarding the ability of the Company to successfully delineate new resources in proposed drilling programs are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are “forward-looking statements”. We caution you that such “forward looking statements” involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include the inability of the Company to close the Proposed Transaction and the Financing due to the state of the capital markets and other risk factors as discussed in the Company’s filings with Canadian securities regulatory agencies. The Company expressly disclaims any obligation to update any forward-looking statements except as may be required by law.
For further information concerning Desert Gold Ventures Inc. and the TransAfrika material properties, please refer to Desert Gold’s SEDAR profile at www.sedar.com or visit our website at www.desertgold.ca.
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.
Desert Gold Ventures Inc.
Jared Scharf
CFO
1 (416) 662-3971
1 (778) 372-1790 (FAX)
[email protected]
www.desertgold.ca
