USD $4,165.18
Goldman Acquisition includes 14 prospective gold projects with high-grade drill intercepts
Desoto Resources Limited (ASX:DES) has announced the acquisition of a significant gold exploration portfolio in Guinea’s Siguiri Basin, covering 1,234km² across 14 prospective gold projects. The move marks a return to one of West Africa’s most prolific gold regions for the team behind Predictive Discovery’s 5.4Moz Bankan Gold Discovery.
The newly acquired portfolio includes two advanced projects, Timbakouna and Kantoumanina, where reconnaissance is already underway, with drilling to commence shortly after the acquisition closes.
Key drill results from the Timbakouna Project include:
- 18m @ 11.8 g/t Au from 48m (NDI-02), including:
- 1m @ 78.84 g/t Au from 50m
- 3m @ 40.4 g/t Au from 62m
- 4m @ 10.6 g/t Au from 33m (NDI-39)
- 1m @ 54.1 g/t Au from 5m (NDI-15)
- 1m @ 4.37 g/t Au from 11m (Hole NDI-11)
A rock chip sampling program at Timbakouna has also returned high-grade results, with notable assays including 19.35 g/t Au, 16.64 g/t Au, 2.70 g/t Au, and 2.03 g/t Au.
At the Kantoumanina Project, high-grade soil samples have been identified, with standout results including:
- 10.00 g/t Au (Sokouroaba South)
- 7.31 g/t Au (Odiala North)
- 6.99 g/t Au (Sokouroaba North)
The acquisition also brings on board Aime Nganare, former Principal Geologist at Predictive Discovery, as Exploration Manager – Africa. Additionally, DeSoto has secured firm commitments for a $4.78 million placement, increasing its cash position to $8.7 million, ensuring strong funding for ongoing exploration.
Commenting on the acquisition, Managing Director Chris Swallow said:
We’re excited about this acquisition of a high-grade exploration portfolio in Guinea’s prolific Siguiri Basin, one of the best regions in the world to make greenfield gold discoveries. A number of newly explored projects in the Siguiri are already yielding impressive drilling results, demonstrating the under-explored nature of this basin.
The Company has very specific expertise in exploring Guinea. The original Predictive Discovery team which made the Bankan Discovery in April 2020, Mr. Paul Roberts (ex-Managing Director), Dr. Barry Murphy (ex-Chief Geologist) and Mr. Aime Nganare (ex-Principal Geologist Guinea) will work together again to target more gold discoveries in this highly prospective region.
With our deep-rooted experience and genuine passion for West African exploration, we are very well placed to make new gold discoveries at this time, in a historically high gold price environment.
