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Interview with Desert Gold Ventures Inc.

Desert Gold Ventures CEO Jared Scharf on West Africa and its potential

  • Gold
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Desert Gold Ventures Inc. has recently announced that it has commenced phase 2 of its exploration program on its Senegal Mali Shear Zone (SMSZ) project in Western Mali. The 394 km2 SMSZ project is both named after, and, overlies a 38 km section of the Senegal Mali Shear Zone, which is related to large mines located both to the north and south, along strike, including B2 Gold’s Fekola Mine, Barrick’s Gounkoto and Loulo Mines and AngloGoldAshanti/Iamgold’s Sadiola and Yatela Mines.

time to read: 3 minutes | The interview was conducted by Mario Hose on June 3rd, 2020 in Delta (CAN).

Jared Scharf, CEO, Desert Gold Ventures Inc.

Jared Scharf
CEO | Desert Gold Ventures Inc.
4770 72nd St,, V4K 3N3 Delta (CAN)

Table of contents:

    The beginning

    news|financial: "Hello Mr. Scharf, when did you start working on Desert Gold Ventures?"

    I began working with Desert Gold in 2010.

    Reasons for West Africa

    news|financial: "Why did you choose West Africa?"

    We chose Africa and more specifically Western Mali because of the region’s incredible gold endowment. For example, our project in situated on a regional fault, The Senegal Mali Shear Zone. This regional feature is related to more than 35 million oz of gold and has 7 producing mines.

    Consolidation of the project

    news|financial: "How long did it take to consolidate your flagship 400km2 SMSZ project?"

    It took nearly 8 years to consolidate this land package. This is due to the fact that any ground on or proximal to the Senegal Mali Shear Zone is highly sought after and difficult to acquire.

    Features of the project

    news|financial: "What is so special about your SMSZ projects?"

    Jared Scharf, CEO, Desert Gold Ventures Inc.
    "[...] Our SMSZ project is the largest contiguous land package of any exploration company in the region at 400km2 and overlays a 38km portion of the prolific Senegal Mali Shear Zone. [...]" Jared Scharf, CEO, Desert Gold Ventures Inc.

    The distinguishing feature of our project is its size and location. Our SMSZ project is the largest contiguous land package of any exploration company in the region at 400km2 and overlays a 38km portion of the prolific Senegal Mali Shear Zone. It is reasonable to target a deposit size of 5 million oz gold plus when you consider that we are roughly half between Sadiola at 10 million plus to the North and Gounkoto also at 10 million oz plus to the south both mines on strike with our SMSZ project.

    Experienced management team

    news|financial: "Can you tell us more about your team?"

    As an exploration company, I believe we have one of the best team’s both at the corporate level in Canada and at the country level in Mali. Our lead technical director, Don Dudek, P.Geo, has nearly 15 years of experience in West Africa and his last two ventures, Avion Gold and Savory Gold were major successes and were both acquired in major public transactions by Endeavour Mining and Semafo respectively.

    In country, our team of geologists have decades of experience working at major mines in the country such as the Yanfolila gold mine, now operated by Hummingbird, and the Loulo Gounkoto mine complex now owned by Barrick.

    I myself have been working in Africa now for over a decade and have 15 years of operating and management experience.

    Well-known neighbors

    news|financial: "You are surrounded by big gold producers. How is your relationship with them?"

    Due to the large size and location of our project, every major producer in the region is keenly aware of what Desert Gold is doing. We have good relationships with all our neighbours and will continue to foster those relationships and build upon them.

    Discoveries and potentials

    news|financial: "Did you find gold in the past?"

    There are over 20 known gold zones confirmed by drilling on our SMSZ project, all of which are open along strike and at depth. Most of the zones discovered to date demonstrate economic grades and some impressive widths. It’s also worth noting that many of these zones start at or near surface making the potential economics of a mine even better. In addition to this, there are literally hundreds of high value gold-in-soil anomalies on this property package that require follow up. I suspect that with every drill program moving forward will we likely discover new gold zones and expand on existing zones.

    Current drill program

    news|financial: "What are the next steps and your goal in the future?"

    The next step, certainly, is to undertake much more drilling. We have a drill program underway as we speak that will be ongoing until the end of the dry season. During the off season, the rainy season, from August to October, we will update our 43-101 resource for the SMSZ project. This will likely be material as it will give some initial indication of the potential of this project.

    Expectations for the projects

    news|financial: "How much gold are you expecting on your projects?"

    Based on the regional gold endowment of the Senegal Mali Shear Zone and the size of our SMSZ Project and the significant gold presence already on our property, it is reasonable to target a 5 million oz gold deposit. This will require significant development and next work season will likely be our most important to date where we will target between 20,000 to 30,000 metres of drilling between Nov 2020 and July 2021.

    news|financial: "Thank you very much for talking to us."

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