DECNGOLDBSEDeccan Gold Mines LtdHighPositive
Announced Mon, 18 May · 15:58 IST

Press Release on Deccan Gold Mines Discovers Significant Nickel-Copper-PGE Mineralisation at Bhalukona in Chhattisgarh.

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AI summary

Deccan Gold Mines, India's only listed gold and critical minerals mining company, has announced significant discovery results from its maiden drilling campaign at the Bhalukona Nickel-Copper-PGE project in Chhattisgarh. The first drill hole intersected over 60 metres of mineralised gabbroic layers, including nearly 30 metres of potentially economic sulphide mineralisation above 0.2% nickel equivalent averaging approximately 0.4% Ni_Eq. The highest-grade intersection recorded was 2.6 metres grading 1.01% nickel, 0.29% copper, and 0.2 g/t palladium from 103.4 metres depth. The company has completed approximately 1,200 metres of core drilling across 7 drill holes over a 1.3-kilometre mineralised strike zone, with all holes confirming disseminated and massive sulphide mineralisation. The discovery could potentially become India's first nickel-copper-PGE mine.

Likely market impact

This exploration success validates the geological potential of the Bhalukona asset and represents a major step forward in the company's transition from explorer to potential miner. For shareholders, this discovery enhances the company's asset portfolio and strategic value in India's critical minerals space.