Key Exploration Findings

Deccan Gold Mines Limited has identified a wide mineralised corridor at its Bhalukona Ni-Cu-PGE Project in Chhattisgarh. Assay results from three additional drillholes have confirmed a 100+ meter wide corridor along a 430-meter strike length to depths of over 200 meters. The corridor contains multiple zones of potentially economic nickel, copper, and palladium mineralisation, with localised occurrences of platinum.

Detailed Drill Results

The best results from the next three drill holes are:

  • BJD-02: 15m @ 0.15% Ni, 0.1% Cu, 0.33g/t Pd for 0.31% Ni_Eq from 32m depth
  • BJD-02: 0.7m @ 0.57% Ni, 0.72% Cu, 0.84g/t Pd for 1.29% Ni_Eq from 56.7m depth
  • BJD-03: 36m @ 0.11% Ni, 0.08% Cu, 0.23g/t Pd for 0.23% Ni_Eq from 215m depth
  • BJD-04: 6m @ 0.16% Ni, 0.2% Cu, 0.25g/t Pd for 0.39% Ni_Eq from 29m depth

Additional detailed assay results are provided in tables:

  • BJD-02 shows multiple mineralized zones including 12.2m @ 0.11% Ni, 0.06% Cu, 0.32g/t Pd for 0.24% Ni_Eq
  • BJD-03 shows 36m of continuous mineralisation from 215m depth
  • BJD-04 includes a higher-grade section of 1m @ 0.23% Ni, 0.32% Cu, 0.41g/t Pd for 0.56% Ni_Eq from 33m depth

Ni_Eq calculations are based on metal prices of US$20,000/t Ni, US$13,000/t Cu, and US$1,500/oz Pd.

Exploration Progress

To date, the Company has completed approximately 1,500 meters of core drilling in 9 holes testing along a strike length of 1.3km. Assay results for the first four holes have been received, with results for the remaining five holes pending. The drilling program extends approximately 800 meters southwest of the holes with assay results, and all drillholes contain various widths of disseminated and heavy-massive sulphide mineralisation.

Management Commentary

Dr. Hanuma Prasad Modali, Managing Director, commented that the results strengthen confidence in the scale and continuity of the Bhalukona mineralised system. He highlighted the strategic importance of critical minerals for economic competitiveness, energy transition, and resource security worldwide, specifically mentioning the Quad nations and India-US critical minerals partnership. The company is accelerating exploration activities to define a mineable resource and progress toward mining lease applications, with the goal of developing India's first Nickel-Copper-PGE mine.

Project Background

The Bhalukona-Jamnidih Composite Licence was granted by the Government of Chhattisgarh on April 1, 2025, making Deccan Gold one of the first companies to receive a licence for Ni-Cu-PGE exploration in India. The 30 sq. km Bhalukona Nickel Block is located in Basana Tehsil, Mahasamund District, Chhattisgarh State. The company has acquired necessary forestry approvals for non-destructive exploration activities including drilling.

Community Engagement

The company has undertaken community initiatives including deepening Cherudipa Lake to enhance water storage and carrying out repairs to connecting roads, improving water availability and accessibility for the local community.

Forward Activities

Low-impact exploration activities, including additional geophysical and soil sampling programs, will continue during the monsoon period to identify further mineralised targets across the licence area.