African miner acquires Mali gold project

Africa-focused Desert Gold Ventures Inc. has an-nounced it signed a deal with Altus Strategies to acquire the company’s Sebessounkoto Sud and Djelimangara gold project in Mali.


The latest “deal with Altus fits Desert Gold’s regional strategy of accumu-lating property proximal to the Senegal Mali Shear Zone, a structure that is related to some of the best gold deposits in West Africa and perhaps the world. During the next few months, we will be developing our Q4, 2019/2020 exploration program. We anticipate carrying out a robust drill program with a focus on those targets, which we believe can host mate-rial-size, gold deposits,” Jared Scharf, the president of Desert Gold, said in a statement.


Under the contract, Altus will retain a 2.5% Net Smelter Return royalty on the project.


Desert Gold says it owns assets in Mali and Rwanda.