Desert Gold Ventures Inc. (DAU) is making a strategic move into West Africa’s gold exploration scene, announcing an option agreement to acquire a 90% stake in the Tiegba Gold Project in Ivory Coast. This deal, struck with Flower Holdings SARLU, a private entity based in Abidjan, marks a significant step for the company, expanding its project portfolio into a region ripe with opportunity.
Tiegba Project: A Deep Dive
- Ivory Coast Advantage: The Tiegba Project sits in a politically stable region with a mining code known to be inviting to investors. Add to this a fast-track permitting process, solid infrastructure, and recent major discoveries like Montage Gold’s Koné Project, and the appeal is clear.
- Vast Land Package: The project encompasses a 297km2 strategic land package situated in the Tier-1 Birimian orogenic gold belt. The promising nature of the region is further enhanced by the fact that less than 20% of the Tiegba license has seen exploration, signalling significant blue-sky potential.
- Proximity to Giants: The project’s location is advantageous, with immediate neighbourhood multi-million-ounce deposits. Nearby producing projects include operations managed by Allied Gold Corp near both Agbaou and Bonikro/Hire, and the Yaouré project under Perseus Mining Ltd.
- Compelling Anomalies: The area boasts an impressive 4.2 km by 2.1km gold-in-soil anomalous trend, strategically aligned with the Tehini Shear Zone. With over 89 samples exceeding 50 ppb gold, 29 samples between 100 and 200 ppb gold, and 12 samples exceeding 200 ppb gold, the potential here is considerable. Notably, despite these compelling results, the area has yet to be drill-tested. Desert Gold’s site visit confirms the in-situ nature of the gold anomalies.
- Aggressive Exploration Roadmap: Anticipate a swift push to define drill targets, featuring infill and expanded soil grids, property-wide airborne magnetic and IP surveys, and the deployment of focused trenching, geological mapping, and prospecting.
According to Desert Gold CEO Jared Scharf, “The Tiegba option agreement marks a pivotal moment, strategically positioning the Company in West Africa. Our team vetted multiple projects this Spring alone covering over 1,000km2; Tiegba came out on top. We are now looking forward to converting these compelling gold prospects into drill-ready targets.”
Image 1. Tiegba Planview highlighting 4.2km by 2.1km Anomalous Gold Trend
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Image 2. Tiegba License Regional Scale Planview Map
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Image 3. Tiegba Project Country Scale Map Highlighting Major Gold Projects
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Flower Option Agreement: The Fine Print
- Terms: Desert Gold will pay Flower a total of USD $450,000 , with USD $150,000 paid upfront. The balance will be split into two equal installments.
- Share Deal: Desert Gold will issue 1,500,000 common shares in three installments to the private Flower Holdings, subject to TSXV hold periods.
- Ownership: Upon completion of the cash plus share payments, Desert Gold will earn a 90% interest in the Tiegba license. The Flower interest will be free carried through Mine Feasibility.
- Royalty: Flower will retain a 1% net smelter royalty on all ore mined from the Tiegba license.
- Right of First Refusal: Desert Gold holds the right of first refusal for any sale of Flower’s NSR and/or 10% minority interest.
- Operational Control: Desert Gold will take over operational control of the Tiegba project upon closing the transaction with Flower, and will maintain the Tiegba permit in line with Ivorian laws.
Tiegba Project at a Glance
Located approximately 188km west of Abidjan, the Tiegba Project covers an area of 296.9km² within the underexplored Tehini Greenstone Belt. This belt stretches towards Burkina Faso, a region containing active gold mines such as Houndé and Mana deposits. The project area borders on the Bonikro-Agbaou gold complex and the Yaouré gold mine.
- Agbaou Deposit1
- Proven and Probable Reserves (9.49 Mt @ 1.50g/t = 458 koz)
- Measured and Inferred (9.33 Mt @2.10 g/t = 631 koz)
- Boniko & Hire Deposits1
- Proven and Probable Reserves (11.98 Mt @1.15 g/t = 444 koz)
- Measured and Inferred (40.21Mt @ 1.30g/t = 1.68 Moz)
- Yaoure2
- Proven and Probable Reserves (35.2 Mt @1.53 g/t = 1.73 Moz)
- Measured and Inferred (55.6 Mt @1.52 g/t = 2.7 Moz)
Geological Context
The Tiegba Project resides in the Paleoproterozoic Birimian terranes, a landscape defined by volcano-sedimentary rocks and syn- to late-tectonic granitoids. These geological features have the potential to host gold.
The local geology mirrors that of the Bonikro-Agbaou gold district. Of notable geological significance are the calc-alkaline intrusive bodies mapped along both the western and eastern permit area margins, with potential for hosting gold mineralization. High-strain structural corridors and intersections of quartz vein networks are seen as high-priority exploration targets.
Historical soil geochemistry data collected by Newcrest Mining Limited identified a gold-in-soil anomaly approximately 4.2km in length within the Tiegba Project area, with peak gold values exceeding 900 ppb Au. These anomalies align with the Tehini Shear Zone, a significant regional structure. Furthermore, this mineralized corridor is proven to be prospective on adjacent properties.
Desert Gold’s Site Visit
Desert Gold’s technical team visit in March 2025 confirmed elevated soil anomalies that coincided with sub-outcropping bedrock. These features indicate an in-situ mineralized source.
Future Plans
In spite of strong soil anomalies, the Tiegba Project hasn’t undergone drill testing. With only about 20% of the property systematically evaluated so far, Desert Gold plans to further advance its findings by expanding soil sampling grids.
Further steps include a property-wide geophysical survey to enhance the understanding of the underlying structural framework. This work will assist in developing the plan for drilling.
SMSZ Project Preliminary Economic Assessment (“PEA”) Update
The previously announced SMSZ Project PEA is nearing completion, with initial results expected within the coming weeks.
Stock Option Issuance
The Company has issued a total of 1,000,000 incentive stock options to certain directors, employees and consultants of the Company. The stock options have an exercise price of CAD $0.08 and a duration of five (5) years from the date of issuance.
On Behalf of the Board of Directors
“Sonny Janda”
___________________________
Sonny Janda
Chairman
About Desert Gold Ventures
Desert Gold Ventures Inc. is a gold exploration and development company which controls the 440 km2 SMSZ Project in Western Mali containing Measured and Indicated Mineral Resources of 8.47 million tonnes grading 1.14 g/t gold totaling 310,300 ounces and Inferred Mineral Resources of 20.7 million tonnes grading 1.16 g/t gold totaling 769,200 ounces. For further information please visit www.SEDARplus.ca under the company’s profile. Website: www.desertgold.ca.
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed and approved by Ty Magee (M.Sc., P. Geo), a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Magee is an advisor and consultant to Desert Gold Ventures and is considered independent of the Company.
QAQC
The historical soil geochemical results referenced herein were originally collected by Newcrest Mining Limited and have not yet been independently verified by Desert Gold. While the dataset demonstrates strong coherence with regional structural features and prospective geology, the reliability of the sampling methods, analytical techniques, and quality control measures implemented during the historical program is currently unknown, nor public. As such, these results should be considered historical in nature. Desert Gold intends to validate the historical dataset through a systematic QA/QC program as part of its upcoming exploration activities. This will include the implementation of industry-standard protocols involving: Certified reference materials (standards), Field duplicates, Blank samples, Chain-of-custody procedures. These measures will be employed to ensure the accuracy and reproducibility of future sampling results, and to establish a compliant geochemical database to guide follow-up work including trenching, geophysics, and potential drilling.
References
1 Allied Gold Corporation. (2024). Annual Information Form and Technical Summary – 2024 (pp. 42-44). Retrieved from https://www.alliedgold.com/files/documents/Allied-Gold-AIF-2024.pdf
2Perseus Mining Limited. (2024, August). Annual Resource and Reserve Statement – FY2024. Retrieved from https://perseusmining.com/wp-content/uploads/2024/08/FY24-Resource-Reserve-Update.pdf
3Thor Explorations Ltd. (September 16, 2024). “Thor Explorations Announces the Acquisition of the Guitry Project and Expansion into Côte d’Ivoire”
This news release contains forward-looking statements respecting the Company’s ability to successfully complete the Offering. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements, including the inability of the Company to successfully complete the Offering. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with mining operations. Risks and uncertainties about the Company’s business are more fully discussed in the company’s disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedarplus.ca and readers are urged to read these materials. The Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. 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. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the united states securities act of 1933, as amended, and may not be offered or sold in the united states or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such act.
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