DeSoto Resources significantly increased its exploration ground in Guinea's Siguiri Basin, adding 532km2 and identifying a 9km-long artisanal gold zone with assays up to 15.2g/t Au. The company maintains a robust cash position of A$11 million to support accelerated exploration.
- Acquired 532km2 consolidating southwest Siguiri Basin to 687km2
- Identified 9km-long high-grade artisanal gold zone at Koba Project
- Ongoing soil sampling and drilling programs across 11 permits
- Portfolio now spans 25 permits covering over 1,900km2
- Strong cash balance of approximately A$11 million
Major Land Grab in Siguiri Basin
DeSoto Resources (ASX:DES) has bolstered its position in Guinea’s prolific Siguiri Basin by snapping up six new projects from United Mining SARL, adding 532km2 to its southwest portfolio. This acquisition lifts its contiguous exploration ground in the region to 687km2, part of a broader portfolio now covering over 1,900km2 across 25 permits. The newly acquired projects; Yarakoura, Doutila, Moussaya, Dalaban, Woussoubadou, and Branama; sit squarely along the Siguiri Gold Mineralisation Trend, a corridor known for multi-million ounce gold deposits.
High-Grade Gold Activity at Koba
The company’s field teams uncovered an extensive 9km-long artisanal mining zone at the Koba Project, a key highlight of the quarter. This zone features active workings up to 1km wide, with dump samples returning impressive gold grades reaching 15.2 grams per tonne. DeSoto has already completed initial soil geochemistry programs aimed at refining drill targets within this corridor. These findings echo earlier reports of strong gold anomalism and underscore the potential scale of the system. The Koba discovery complements ongoing exploration efforts across 11 permits, including Dadjan and Tolé, where maiden drilling last year confirmed a large gold system.
Systematic Exploration Accelerates
DeSoto is running a suite of exploration techniques concurrently; soil sampling, bulk leach extractable gold (BLEG) sampling, and power auger drilling; to build a robust pipeline of drill-ready targets. Soil sampling programs are being infilled at Koba and Nerekoro Sud to follow up on gold anomalism and artisanal workings, while first-pass regional sampling has wrapped up at Kassa and Mini, with further targeting planned. The company’s portfolio approach aims to maintain a steady flow of prospects, with trenching and air core drilling programs expected to kick off imminently. This strategic momentum is supported by a strong cash position of around A$11 million, providing a comfortable runway for exploration activities.
Corporate Moves and Northern Territory Outlook
While the focus remains firmly on Guinea, DeSoto’s Northern Territory projects saw no activity this quarter, with management signaling intentions to pursue divestment or joint venture opportunities. Chairman Paul Roberts’ attendance at the Mining Indaba in Cape Town helped promote DeSoto’s Guinea portfolio to a global mining audience and reinforce ties with joint venture partner Fortuna Mining Corp (TSX:FVI). The company continues to navigate Guinea’s mining reforms, with some permits undergoing renewal processes but backed by ministerial assurances to support ongoing exploration.
DeSoto’s recent progress builds on a string of encouraging updates, including the identification of multi-kilometre gold anomalism zones and high-grade channel sampling results reported just days earlier, highlighting the company’s growing footprint and advancing exploration programs in the Siguiri Basin high-grade channel sampling. Investors will be watching closely as the company transitions from broad-scale sampling to targeted drilling campaigns that could unlock the scale of these gold systems.
Bottom Line?
DeSoto’s expanded landholding and high-grade artisanal discoveries set the stage for a busy drilling season, but permit renewals and exploration execution remain key hurdles to watch.
Questions in the middle?
- How will permit renewal delays amid Guinea’s mining reforms impact DeSoto’s exploration timeline?
- What results will the upcoming drilling programs deliver in confirming the scale and grade of gold systems?
- Will DeSoto secure partners or divest its Northern Territory projects to focus on Guinea?