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Highlights
- DeSoto Resources (ASX:DES) expands into Guinea with a high-grade gold portfolio.
- Acquisition includes 14 gold projects in the Siguiri Basin and interests in three more in Gaoual.
- Advanced projects to see rapid exploration with drilling to commence post-acquisition.
DeSoto Resources (ASX:DES) has taken a major step in its growth strategy by acquiring a portfolio of high-grade gold projects in Guinea. This expansion positions the company in the prolific Siguiri Basin, a region known for significant gold discoveries.
Through a binding agreement, the company will gain full ownership of Angex Australia, a private entity holding 14 gold projects in the Siguiri Basin and stakes in three more within the Gaoual gold belt. The deal secures over 1,200 square kilometers of exploration ground, featuring high-grade drill intercepts that present promising exploration targets.
Proven Team with West African Expertise
The leadership group at DeSoto brings extensive experience in gold exploration across West Africa. This includes key individuals who contributed to the discovery and development of Predictive Discovery’s (ASX:PDI) 5.4-million-ounce Bankan gold project.
One of the notable additions to the team is Aime Nganare, a former principal geologist at Predictive Discovery, who originally identified and developed the Siguiri Basin projects. He will now take on the role of regional exploration manager, ensuring a strong technical approach to unlocking value from these assets.
Strategic Exploration and Immediate Plans
Among the acquired assets, two projects—Timbakouna and Kantoumanina—are already at an advanced stage, with field reconnaissance underway. The company is preparing to commence drilling operations shortly after completing the acquisition.
The strategic focus is on developing a broad-scale structural framework to maximize exploration success. Initial exploration methods will include bulk leach extractable gold stream sediment geochemistry and power auger drilling to detect gold anomalies. These will be followed by trenching, channel sampling, and advanced drilling techniques such as air core, reverse circulation, and diamond drilling.
Funding to Support Growth Plans
To support this expansion and exploration initiatives, DeSoto has secured firm commitments for a $4.78 million placement. This includes a $300,000 contribution from the company’s board and management, reflecting confidence in the potential of these new assets.
As gold prices remain strong, this move positions DeSoto for further discoveries in one of West Africa’s most promising regions, reinforcing its strategy to develop high-value gold projects in underexplored terrains.
