The SMSZ gold project is Desert Gold’s flagship asset in Mali. The company has been conducting drilling operations for several months to increase the mineral resources of the project and ultimately develop a gold mine.
Canadian junior miner Desert Gold Ventures Inc. kicked off the second phase of its 2024 drilling program at its SMSZ gold project in Mali on May 14, the company announced. The 3,750-meter drill program aims to expand the project’s mineral resources.
“This second phase program will test for extensions to two resource gold zones,” said Jared Scharf, CEO of Desert Gold. “We strongly believe that this work will result in extensions to the Mogoyafara South zone, additional potential oxide gold resources at Barani East and the discovery of new gold zones at three exploration target areas.”
Desert Gold holds an existing mineral resource estimate exceeding one million ounces of gold at SMSZ. Alongside the exploration program, the company launched a preliminary economic assessment (PEA) in 2024. The PEA is expected to outline the potential lifespan, production capacity, and initial investment requirements for a future gold mine at the project.
Mali is Africa’s third-largest gold producer, with the metal representing its primary mined commodity. The Malian mining sector contributes roughly 10% of the country’s GDP and generates around 80% of its export revenue. Several Canadian and Australian companies, including Barrick Gold Corp., Resolute Mining Ltd., and B2Gold Inc., also have a presence in the region.