Drilling Delays Overcome: Can DeSoto Unlock Spectrum’s Hidden Mineral Wealth?
DeSoto Resources has commenced earthworks and is preparing to launch its maiden drilling program at the Spectrum REE-Au-Cu Project in the Northern Territory, targeting promising copper, gold, and rare earth element prospects.
- Maiden drilling program underway at Spectrum Project with 20 holes planned
- Targets include Vesper EM prospect and historic Quantum rare earth discovery
- Project fully permitted with environmental and native title clearances
- Concurrent drilling activities ongoing in Guinea with strong cash backing
- Recent geophysical surveys identified multiple high-potential targets
Drilling Preparations Advance at Spectrum
DeSoto Resources Limited (ASX – DES) has taken a significant step forward in its Northern Territory exploration campaign by commencing earthworks at the Spectrum Project, located roughly 150 kilometres south of Darwin. This move sets the stage for the company’s maiden drilling program, which is expected to begin imminently with a rig en route following completion of a diamond drill hole at the nearby Fenton South site.
The Spectrum Project, covering a strategic position within the Fenton Shear Zone, is fully permitted for a 20-hole drilling program combining Reverse Circulation and Diamond Drilling techniques. These permits include critical native title and environmental clearances, clearing previous hurdles that delayed exploration activities.
Targeting Multiple High-Potential Prospects
The drilling campaign will focus on several compelling targets. Among them is the Vesper EM prospect, where four large, shallow electromagnetic and magnetic anomalies coincide with an extensive 8-kilometre copper soil anomaly identified through geochemical sampling. Additionally, the Quantum prospect holds historical significance, boasting a rare earth element discovery with assays revealing up to 1.55% total rare earth oxides over 50 metres, including a higher-grade interval of 4.51% TREO over 12 metres.
These targets are supported by extensive geophysical surveys conducted in 2024, including ground gravity and induced polarization programs, which have helped refine the understanding of the mineralisation potential across the Spectrum and wider Fenton Shear Zone area.
Strategic Positioning and Operational Momentum
DeSoto’s Spectrum Project lies within a region historically explored for gold by Homestake Gold in the late 1990s, with previous soil surveys identifying copper anomalies that DeSoto has since confirmed and expanded. The company’s broader portfolio also includes active drilling in Guinea’s Siguiri Basin, demonstrating a diversified approach backed by a robust cash position.
Managing Director Chris Swallow expressed enthusiasm about the drilling commencement, highlighting the challenges faced over the past two years due to weather and permitting delays. He emphasised the company’s readiness to unlock the potential of Spectrum and provide timely updates to the market as drilling progresses.
With the rig mobilised and drill pads prepared, DeSoto is poised to deliver critical data that could reshape the understanding of this underexplored region’s resource potential, particularly in the rare earth and base metals sectors.
Bottom Line?
As drilling kicks off, all eyes will be on DeSoto’s assay results to gauge the true scale of Spectrum’s mineral promise.
Questions in the middle?
- Will the maiden drilling confirm and expand the high-grade rare earth and copper anomalies at Spectrum?
- How might the results influence DeSoto’s resource estimates and project valuation?
- What impact will concurrent drilling in Guinea have on the company’s overall exploration strategy and capital allocation?
