Desert Gold Ventures Inc.

Published : June 02nd, 2014

Desert Gold Ventures Commences a Mining Feasibility Study on Its Barani East Project in Western Mali

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Keywords :   Gold | Mali | Recovery | Senegal | South Africa | Zimbabwe |

Desert Gold Ventures Commences a Mining Feasibility Study on Its Barani East Project in Western Mali

TORONTO, ONTARIO--(Marketwired - Jun 2, 2014) - Desert Gold Ventures Inc. (TSX VENTURE:DAU) (the "Company" or "Desert Gold") is pleased to record extensive metallurgical test work conducted on bulk mining samples from the recently drilled and sampled Barani East Gold Deposit (the "Deposit") indicates gold recoveries up to 85%. The company is currently engaged in a feasibility study to support fundraising for the development of a mine on the deposit.

Process Design

A two ton bulk sample of ore collected from the Barani east prospect was submitted to Peacocke Simpson & Associates (Pty) Ltd's minerals processing laboratory in Harare, Zimbabwe for bulk metallurgical work.

The company has commissioned an engineering design team from Appropriate Process Technologies (Pty) Ltd (Johannesburg, South Africa) ("APT") for plant design. APT specialises in the manufacturing of modular mineral processing plants and are designing a plant to optimise the economic exploitation of the resource. The latest tests indicate that a low capital cost plant comprising a wash and screen (2 mm) circuit, with minor crushing, feeding to a Knelson gravity concentrator will recover 40.3% of the gold. The tailings from the Knelson concentrator were fed to a Knelson continuous variable discharge concentrator (CVD) from which concentrates with a mass yield of approximately 11% were subjected to a cyanide leach, which resulted in an additional 25% of the gold to be recovered. Although this process, in aggregate, generates a lower recovery of the gold (65%) compared to other processing alternatives, this configuration requires the least capital investment, being some 80% cheaper than the alternative maximum recovery design plan, and having the lowest operating costs. Tailings with the unrecovered gold will be stockpiled as an asset for later re-treatment.

About the Project

The Barani East Gold Deposit occurs on the Desert Gold's Farabantourou Permit located in Western Mali. The permit falls on the Senegal-Mali Fault Zone ("SMFZ"), 40km south of Sadiola Mine and 50km north of the Loulou-Gounkoto mine complex (Fig. 1). Both these mines are on the SMFZ.

Barani East is the first of 6 prospects with proven gold mineralization expected to be developed by Desert Gold on the permit. The project has been drilled to a depth of 120m with mineralization open to depth in the southern part of the deposit (Fig. 2).

To view Figures 1 and 2 please click on the following link: http://media3.marketwire.com/docs/DAU0602.pdf

The Resource

The company has focused drilling on the Barani East prospect and has completed a maiden mineral resource estimate, which indicates a total of 108,100 oz gold in the indicated and inferred categories with average grades of 2.50 g/t gold at a cut-off value of 1.0 g/t gold. (Table 1). This resource is currently defined to a maximum depth of 120 m below surface over a strike length of 400m. The deposit is tabular, mineralisation varying in thickness from 4.5m to 15m, and dipping to the east between 45° and 60°. The gold mineralisation is associated with quartz hematite rocks and kaolinite veins within siltstone and shale.

Resource Category Tonnes Grade
(g/t Au)
Ounces
Au
Indicated 514,000 2.46 40,600
Inferred 828,000 2.53 67,500
TOTAL 1,342,000 2.50 108,100
At a cut-off grade of 1 g/t
Table 1. Barani East estimated mineral resource (April 2013).

Farabantourou Strategy

Desert Gold's Farabantourou permit strategy is to develop the other 5 known gold prospects to a mineral resource definition stage similar to what has been achieved at Barani East. Funding for drilling on the other 5 prospects will be provided out of mining revenue from a low cost opencast mining operation on Barani East. A feasibility study is being concluded to define the CAPEX and related operational cost associated with a potential mining operation to extract the resource as defined from surface. High grade Au intersections of 9.99g/t over 4m and 8.60g/t over 3.5m at 120m vertical depth show potential for developing an underground resource at Barani East following the exploitation of the open pit resource.

About Desert Gold

Desert Gold Ventures Inc. is an advanced exploration and development company which holds mining assets in Mali and Rwanda.

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.

This announcement has been reviewed by Mr. Mark Austin, Senior Partner of Applied Geology & Mining Pty Ltd, who has more than 30 years of relevant experience in the field of activity concerned. He is a fellow of the Geological Society of South Africa ('GSSA') and is registered as a Professional Natural Scientist with the South African Council for Natural Scientific Professions (No. 400235/06) and he has consented to the inclusion of the material in the form and context in which it appears.

This news release has been prepared on behalf of the board of directors of Desert Gold, which accepts full responsibility for its contents.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Mali | Senegal | South Africa | Zimbabwe | All
Gold and Silver Prices for these countries : Mali | Senegal | South Africa | Zimbabwe | All

Desert Gold Ventures Inc.

EXPLORATION STAGE
CODE : DAU.V
ISIN : CA25039N3094
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Desert Gold Ventures is a gold exploration company based in Canada.

Desert Gold Ventures holds various exploration projects in USA.

Its main exploration property is GOLDBANKS - KINROSS in USA.

Desert Gold Ventures is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.4 millions as of today (US$ 1.0 millions, € 932 855).

Its stock quote reached its highest recent level on October 15, 2010 at CA$ 1.48, and its lowest recent point on October 06, 2023 at CA$ 0.03.

Desert Gold Ventures has 18 810 000 shares outstanding.

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Annual reports of Desert Gold Ventures Inc.
2007 Annual Report
Financials of Desert Gold Ventures Inc.
7/5/2011EARLY ADOPTS INTERNATIONAL FINANCIAL REPORTING STANDARDS
Project news of Desert Gold Ventures Inc.
2/2/2009(Goldbanks - Kinross)INITIAL MAIN ZONE DRILLING PROGRAM COMPLETED
1/21/2009(Goldbanks - Kinross)INITIAL KW ZONE DRILLING RESULTS
12/17/2008SUCCESSFULLY TRACES KEY HIGH GRADE FAULT ZONE FOR 1800 FEET ...
Corporate news of Desert Gold Ventures Inc.
10/1/2015Interim Results
9/29/2015Robust Economics for Joint Venture Project
3/9/2015Operation agreement with Desert Gold Inc.
11/27/2014Desert Gold Ventures Inc. Amends Terms of $500,000 Private P...
11/25/2014Desert Gold Ventures Inc. Renewal of Mali Mining Permits
11/14/2014Desert Gold Ventures Inc. Announces $500,000 Private Placeme...
9/17/2014Desert Gold Ventures Inc. Announces Results of Preliminary E...
6/3/2014Desert Gold Ventures Reports the Mapping of a 24 km2 Anomalo...
6/2/2014Desert Gold Ventures Commences a Mining Feasibility Study on...
7/22/2013Sampling Program on Its Djimbala Project, Mali Uncovers High...
6/17/2013Reports Gold Recoveries in Excess of 90% from Metallurgical ...
6/5/2013Enters Into a Joint Venture Agreement with Toro Gold Ltd for...
4/23/2013Drilling on the First of Six Gold Hosting Mineralised Zones ...
2/4/2013Mali Operations Ongoing and Unaffected by Conflict in the No...
1/15/2013Mali Exploration Program Delivers Excellent Grades; Update o...
10/15/2012Receives Notice of Exercise of Pre-Emptive Right From Kinros...
6/22/2011to Acquire TransAfrika Belgique S.A.
6/5/2009small shareholder program
12/1/2008EARNS 50% INTEREST IN GOLDBANKS PROPERTY
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