Smallcap gold and battery metal explorer DeSoto Resources (ASX:DES) has landed a crucial reconnaissance permit for the Syncerus Gold Project in Guinea that hosts multi-million ounce deposits over nearly 100 square kilometres.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
DeSoto’s latest exploration pickup boasts the 5.5 million ounce Bankan discovery and lies less than five kilometres from the company’s Dabidiana Project.
The permit sees DeSoto’s ground position in Siguiri grow to more than 1,000sqkm.
There won’t be any sitting around for the company either: DeSoto is already getting started on fieldwork in the newly-acquired Syncerus target and at Dabidiana. The focus will be on identifying large-scale structures.
Once the explorer has completed early targeting and ranking, ground teams will then work on bulk lead extractable gold stream sediment sampling.
As many as eight target sites are on the menu in the wider campaign, including Dadjan, Tole, Timbakouna, Moiko, Alamankono, Falama, Oromo, and Dabidiana.
DeSoto recently completed systematic soil and rock chip sampling at Dadjan and Tole.
More market news
Put the scissors away: Bullock tames RBA cut hopes – and apparently that’s a surprise
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
Once those initial plans have been worked through, the explorer will then fire up the Power Auger drills; in that phase, DeSoto will look to penetrate the lateritic cover to sample saprolite from the Siguiri bedrock.
DES has jumped +6.7% through Friday lunchtime, to 16cps.
Join the discussion. See what HotCopper users are saying about DeSoto Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.