18m at 8g/t Gold Boosts DeSoto’s Guinea Campaign; Rare Earth Drilling Underway in NT

Dual-Continent Exploration Momentum

DeSoto Resources Limited (ASX, DES) has reported a dynamic quarter ending 30 June 2025, marked by the launch of simultaneous drilling campaigns across West Africa and Australia. The company’s strategic focus on the Siguiri Basin in Guinea and the Northern Territory’s Spectrum and Fenton projects underscores its ambition to build a diversified portfolio of gold and rare earth assets.

In Guinea, DeSoto initiated a 5,000-metre power-auger drilling program targeting the Dadjan, Timbakouna, and Tole gold projects. Early assay results have been encouraging, notably an 18-metre intersection grading 8 grams per tonne gold from surface at Tole, highlighting the potential for high-grade mineralisation near surface. The Dadjan anomaly has expanded to 3.6 kilometres, while Timbakouna now features three parallel gold zones extending 3.7 kilometres. Additionally, a new 1.3-kilometre gold-in-soil corridor was identified at Tole, suggesting further upside potential.

Environmental and Permitting Progress

Alongside exploration, DeSoto completed an environmental baseline study and basin-scale targeting exercise in the Siguiri Basin. These efforts have streamlined permitting processes, enabling accelerated drilling activities. The company’s engagement with local communities and regulatory bodies appears to be fostering a cooperative environment, which is critical for sustained exploration success in the region.

Northern Territory, Rare Earths and Gold Targets

In Australia, DeSoto transitioned from the wet season to diamond drilling at Fenton South, targeting a previously untested gravity and electromagnetic anomaly. The initial hole reached 550 metres, with assay results expected in the coming quarter. The rig then moved to Spectrum, where drilling commenced on targets including the Vesper EM conductors and the historic Quantum rare earth element (REE) discovery. Quantum has previously returned impressive results, such as 50 metres at 1.55% total rare earth oxides, including higher-grade intervals, confirming the area’s potential as a significant REE-gold-copper system.

Financial Position and Corporate Developments

DeSoto remains well funded with $6.2 million in cash at the end of June 2025, supporting ongoing exploration activities. The company spent approximately $1.036 million on exploration during the quarter, focusing primarily on its gold and copper projects. Corporate milestones included shareholder approval for a placement and acquisition of Angex Australia Pty Ltd, which is expected to enhance DeSoto’s footprint and capabilities.

While no mining production or development activities occurred this quarter, the company’s aggressive exploration strategy and promising early results position it well for future resource growth. The combination of gold and rare earth element targets across two continents reflects a diversified approach that could mitigate risks inherent in mineral exploration.