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Last C$0.04 CAD
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As of 2:10 PM 07/23/15 All times are local (Market data is delayed by at least 15 minutes).

desert gold ventures inc (DAU) Snapshot

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desert gold ventures inc (DAU) Details

Desert Gold Ventures Inc., an exploration stage company, engages in the acquisition, exploration, development, and mining of mineral resource properties. The company primarily explores for gold ores. It holds 100% interests in the Byumba exploration permit located to the north of the capital city of Kigali, Rwanda; and interests in Farabantourou and Ségala-Ouest permits located in Western Mali, and Djimbala permit located in South-western Mali. The company is based in Surrey, Canada.

desert gold ventures inc (DAU) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: C$68.5K
Chief Financial Officer, Secretary and Direct...
Total Annual Compensation: C$90.0K
Compensation as of Fiscal Year 2014.

desert gold ventures inc (DAU) Key Developments

Desert Gold Ventures Inc., Special/Extraordinary Shareholders Meeting, Jul 10, 2015

Desert Gold Ventures Inc., Special/Extraordinary Shareholders Meeting, Jul 10, 2015., at 13:30 Pacific Daylight. Location: #200 8338 120th Street. Agenda: To consolidate its common shares on a ratio of 1 for up to 10; to consider and, if thought fit, pass, with or without amendment, a special resolution to alter Desert Gold's share capital by consolidating its issued common shares on an up to ten-for-one basis, or such lesser ratio as the directors may determine appropriate; and to transact such other business as may properly come before the Meeting or any adjournments thereof.

Desert Gold Ventures Inc. Announces Management Changes

The board of directors of Desert Gold Ventures Inc. appointed Ayub Khan, as President and CEO and Jared Scharf as CFO. Also, at that time Mr. van Kerckhoven resigned from his position as President and CEO of the company.

Desert Gold Ventures Inc Signs Cooperation Agreement with Alecto Minerals to Develop the Farabantourou Gold Permit and Kossanto East Gold Project in Mali

Desert Gold Ventures Inc. announced that it has signed a cooperation agreement with Alecto Minerals and titleholder of the Alecto's Kossanto East Gold Project which neighbours Farabantourou Gold Permit with a view to jointly developing both deposits together into production. The collaboration with Alecto should enable both companies to benefit from shared knowledge, economies of scale and create shareholder value more quickly. Desert Gold has already filed an NI 43-101 compliant technical report for the Barani East deposit and it is natural that should now look at bulking up the tonnage with concomitant lower unit costs. The Agreement will allow both Desert Gold and Alecto to explore how capex can be reduced by operating together, with the ultimate goal of near term production. It has been agreed that all options should be reviewed; from the possibility of a single processing plant that processes ore from each deposit through to further corporate or project level activity. Both companies have drill intersections at other targets within the area of interest, which could each offer similar size resources and thus significantly increase the size of any joint venture project. It is important to note that within the same 10-km trucking radius, defined in Figure 1, there are further deposits with JORC or NI 43- 101 compliant mineral resource estimates completed. Alecto and Desert will continue to discuss with these companies with a view to expanding the cooperation concept and potentially open up a million ounce gold mining project. The exploration of the Farabantourou permit identified several zones of mineralisation of which the Barani East deposit became the focus for a fast track to exploitation. Geologically, the permit straddles the well-known Senegal-Mali-Shear-Zone (SMSZ) along which the Sadiola, Yatella and the Loulo-Gountoko mines are situated. The SMSZ is recognised as the principal geological feature controlling the mineralisation in West Mali. Minrealisation at BaraniEast is hosted in a fault/shear zone, proximal to the SMSZ. While the Barani East deposit is presently defined over a strike length of 400m, to a depth of 220m, the mineralisation is open ended at depth with potential for underground mining. The permit can be considered to have potential to produce additional significant resources. These were identified in the above mentioned NI 43-101 report: At Barani East there is potential to further define the resource by exploring along the strike extension of the fault, to the northeast, over a strike of approximately 3 km. At Keniegoulou the possibility of extending the target along strike to approximately 2 km exists. The first 14 lines of drilling all intersected mineralisation-a NNW trend is observed along an interpreted fault. At Dambamba it is possible to increase the overall target strike extent to 2.5 km to the south along the interpreted fault line as it is postulated. At Kousilli the current drilling in this area intersected mineralisation in only two of the four fence lines. However, if the drilling is overlain by the geochemical anomalies including the interpretation of the IP and resistivity surveys, two NE trending targets may be postulated. Kossanto East area is just one-third of the Kossanto Gold project and has been the area of most operational activity in the 2013/14 field season. The Company recently announced that it is discussions for a potential joint venture for the exploration of Kossanto West which is considered to be a potential multimillion ounce project to the west of Kossanto East. Alecto intersected high grade quartz veins in the 2014 drilling season. The Kossanto West project area is not currently included in this cooperation agreement due to its different geology and the fact that Alecto is currently in discussions with other parties. However, if a processing plant is developed at Kossanto East then ore from any resource defined at Kossanto West could be trucked to East with distances not exceeding 20-km.


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