AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Desert Metals (DM1) launches a robust drilling program across two significant prospects.
- Strategic funding enhances exploration capabilities with a recent AUD 3.25 million placement.
- Anticipation builds for upcoming diamond drilling results scheduled for mid-2025.
Desert Metals Limited (ASX:DM1) has recently undertaken a significant step in its exploration efforts by initiating a comprehensive 86-hole, 3,500m aircore drilling program. This ambitious initiative targets the promising Kakologo and Tiogo gold prospects within the Tengrela South gold permit, located in northern Côte d’Ivoire, approximately 30km from the operational Sissingué gold mine operated by Perseus Mining.
In parallel to the Tengrela South activities, Desert Metals has been active at the King Kong prospect, part of the Adzope gold project. Here, the company successfully completed a 27.5-line kilometre ground geophysics program, and has embarked on an extensive 850-hole, 12,000m auger drilling program. These preparatory steps are crucial as they set the stage for a diamond drilling campaign scheduled for the second quarter of 2025, with results eagerly anticipated in the following months.
Further boosting the company's exploration capabilities, Desert Metals has secured significant funding through a placement. In February 2025, the company received firm commitments to raise AUD 3.25 million. This funding involved issuing 108,271,783 shares to garner AUD 2,111,300, with contributions from the company directors and pending shareholder approval at a forthcoming extraordinary general meeting slated for April 8, 2025. The injection of these funds is poised to underpin the ongoing drilling efforts at Tengrela South and the upcoming drill testing at the Adzope Gold Project.
Stephen Ross, Managing Director of Desert Metals, expressed his enthusiasm about the progress being made at the company’s leading projects. He noted the commencement of aircore drilling at the Tengrela South permit’s promising Kakologo and Tiogo gold prospects, initially identified last year as significant opportunities. Ross also highlighted the substantial advancements at the flagship Adzope gold project, emphasizing the strategic identification and prioritization of drill targets along the extensive +3km gold corridor. The King Kong prospect, in particular, has shown impressive preliminary results, which include a notable 17m at 7.5g/t gold.
As Desert Metals continues its detailed and strategic exploration programs, the mining industry and investors are keenly watching for the results from these crucial activities. The outcomes of these explorations are expected to provide significant insights into the potential of the regions being targeted, marking crucial milestones in the company’s operational calendar.
