Share this article

Desert Gold Ventures has purchased the Kolomba Permit from an undisclosed firm as part of its strategy to expand its SMSZ Project in Mali, West Africa.

Contiguous to the SMSZ Project, the 30.6km² Kolomba Permit comprises two gold zones, namely Linnguekoto West and Mogoyafara South.

Desert Gold expects these two gold zones to have the potential to add additional mineral resources to the SMSZ Project in the near term.

With modelling work underway at the two zones, the firm plans to start drill testing in early Q1 2022, together with geological mapping and IP and magnetic geophysical surveys.

Desert Gold president and CEO Jared Scharf said: “The addition of the Kolomba property aligns perfectly with our strategy of acquiring high-quality, underexplored gold prospects situated along the Senegal Mali Shear Zone.

“Given the strategic location of the Kolomba permit and the quality of the exploration targets that lie within its boundaries, Kolomba will be a high priority target area for our upcoming exploration season. It’s interesting to note that the last time this property was worked on in 2003, the price of gold averaged $363 an ounce!”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

The 440km² SMSZ Project overlies a larger section of the Senegal Mali Shear Zone (SMSZ).

Desert Gold said it aims to discover a tier 1 gold deposit associated with the gold-bearing structural zones that pass through the SMSZ Project.

At SMSZ Project, the firm discovered more than 22 gold zones following exploration work, with 2021 exploration data suggesting additional discoveries.

Desert Gold Ventures’ other gold exploration permits include the Anumso project in Ghana’s Ashanti Belt, as well as the Rutare gold project in central Rwanda.