DeSoto Resources has launched a 10,000m maiden drilling program at its Timbakouna Gold Project and secured a major new ground package in Guinea’s prolific Siguiri Basin, backed by a strong cash position of A$9.2 million.
- Maiden 10,000m power auger drilling at Timbakouna targets high-grade gold anomalies
- Airborne magnetic survey underway to refine exploration targets
- Completed 687km2 BLEG stream sediment sampling with assays pending
- DeSoto-Fortuna JV secures seven gold projects covering 591.43km2
- Cash balance of A$9.2 million supports ongoing exploration
Maiden Drilling Targets High-Grade Gold at Timbakouna
DeSoto Resources (ASX:DES) has kicked off a significant 10,000-metre power auger drilling program at its Timbakouna Gold Project in Guinea’s Siguiri Basin, aiming to unlock the potential beneath a lateritic cover that has concealed high-grade mineralisation. The program features 485 holes designed to test more than 6 kilometres of semi-continuous artisanal gold workings and historic intercepts that include an 18-metre interval grading 11.8 grams per tonne gold (g/t Au), with standout sections of 1 metre at 78.84 g/t and 3 metres at 40.4 g/t that were never previously followed up.
Timbakouna sits on a structurally prospective gold corridor along the eastern margin of the Siguiri Basin, with regional soil sampling on a 200m x 200m grid identifying two priority anomaly zones. Area A hosts an 800-metre-long coherent gold-in-soil anomaly adjacent to artisanal workings and historic high-grade drill results, while Area B features two anomalies extending up to 950 metres. Infill soil sampling at Area A is complete, with ongoing work at Area B and assay results awaited.
Airborne Survey to Sharpen Exploration Focus
Complementing the drilling, DeSoto has deployed an airborne magnetic and radiometric survey across Timbakouna and surrounding projects including Dadjan, Tolé, and Nerekoro Sud. The survey aims to provide detailed structural and geological data to integrate with soil geochemistry and drilling results. This integrated approach will help refine target definitions for future reverse circulation (RC) and diamond drilling campaigns, enhancing the company’s ability to delineate mineralised trends beneath transported cover.
Extensive BLEG Sampling Expands Regional Footprint
Beyond Timbakouna, DeSoto completed a Bulk Leach Extractable Gold (BLEG) stream sediment sampling program covering over 687 square kilometres across six southwest Siguiri projects: Yarakoura, Doutila, Moussaya, Dalaban, Woussoubadou, and Branama. A total of 143 samples have been dispatched to Bureau Veritas Laboratories in Perth, with assay results pending. This systematic reconnaissance method is designed to detect gold anomalies at catchment scale, reducing nugget effect bias and enabling efficient prioritisation of follow-up exploration activities such as mapping, soil and rock-chip sampling, and drilling.
DeSoto-Fortuna Alliance Secures Strategic Ground Package
Post-quarter, the DeSoto-Fortuna joint venture vehicle High Guinea Gold SARLU signed a Heads of Agreement to acquire up to seven gold exploration projects from the Wassolon Mining Group, spanning 591.43 square kilometres in the Siguiri Basin. The staged acquisition involves payments linked to tenure progression and exploration milestones, with total consideration of approximately US$605,000. Fortuna Mining Corp (TSX:FVI | NYSE:FSM) funds exploration programs under the alliance, providing DeSoto with a significant platform for project review and early-stage exploration planning in one of West Africa’s most prolific gold belts.
Temporary Drilling Pause Amid Government Enforcement
Drilling activities at Timbakouna were temporarily suspended following a Guinean government crackdown on illegal mechanised semi-artisanal mining in the Siguiri Prefecture. DeSoto is working closely with legal advisors to resume operations promptly. Meanwhile, geophysical programs are expected to commence imminently, supported by the company’s robust cash position of A$9.2 million at quarter-end, ensuring funding for multiple exploration initiatives.
Northern Territory Assets Held for Divestment
DeSoto’s focus remains on its Guinea projects, with no exploration conducted on its Northern Territory assets during the quarter. The company is exploring divestment or joint venture opportunities for these Australian holdings, which include the Spectrum and Fenton projects.
Bottom Line?
DeSoto’s maiden drilling and strategic acquisitions in Guinea position it well for growth, but the timing of resumed drilling remains uncertain amid regulatory enforcement.
Questions in the middle?
- When will the Guinean government permit drilling activities to fully resume at Timbakouna?
- How will pending assay results from BLEG sampling and infill soil programs influence next-stage drilling priorities?
- What exploration milestones will trigger the staged payments under the DeSoto-Fortuna JV acquisition?