Key Quantitative Figures

  • All 8 completed drill holes intersected potentially economic tungsten or tungsten-tin mineralization
  • Total drilling completed: 3,522 meters
  • Average drill hole depth: approximately 430 meters
  • Deepest drill hole: 626 meters
  • Preliminary geological modeling suggests: More than 2.3 million tonnes of mineralized material, Over 2,000 tonnes of tungsten trioxide (WO₃), Over 500 tonnes of tin oxide (SnO₂) at modeled economic cut-off grades
  • Spanish government support: €250,000 in eligible cost deductions for La Brujas tungsten target
  • Maria prospect drilling: 3 holes completed totaling more than 820 meters with antimony mineralization intersected (assay results awaited)
  • Project license areas: Logrosán licence ~37 sq. km, Maria licence ~40 sq. km
  • Additional application: 30 sq. km extension for Logrosán licence area

Dates of Action

  • Disclosure date: October 26, 2026
  • Drilling commencement: March 2026
  • Digital signature date: October 26, 2026 at 12:14:48 +05:30

Parties Involved

  • Deccan Gold Mines Limited (BSE: 512068)
  • Deccan Gold FZCO (wholly owned Dubai subsidiary)
  • Logrosán Minera S.L. (acquisition target)
  • Spanish Government (providing exploration incentives)
  • Technical partners (reviewing drilling data and geological model)
  • Kaizzen PR (media contact)
  • Dr. Hanuma Prasad Modali (Managing Director)
  • Subramaniam Sundaram (Company Secretary & Compliance Officer, Membership No.: A12110)

Purpose and Rationale

Maiden drilling programme tested the Dehesa tungsten-tin target within the Logrosán project to evaluate geological potential and provide basis for planning next phase of exploration. The company is building an international critical-minerals portfolio with focus on disciplined exploration and responsible resource development.

Acquisition Structure

Deccan Gold, through its wholly owned Dubai subsidiary Deccan Gold FZCO, has entered into an earn-in, option and shareholders' agreement to acquire:

  • 51% stake in Logrosán Minera S.L. initially
  • Options to increase interest to 75% and potentially 95%
  • Subject to agreement terms

Project Details

The Logrosán project includes:

  • Granted Logrosán licence (~37 sq. km)
  • Granted Maria licence (~40 sq. km)
  • Located in mineralized region of Spain known for tungsten, tin, rare earth elements and gold occurrences
  • Multiple priority prospects including Dehesa, Maria, and La Brujas targets

Strategic Context

Tungsten is identified as a strategically important industrial metal used in applications requiring high hardness, heat resistance and durability. The project adds to Deccan Gold's broader critical-minerals interests alongside nickel-copper-platinum-group elements opportunity in India and lithium-tantalum portfolio in Mozambique.

Forward-looking Statements

Preliminary estimates are exploration-stage interpretations and do not constitute a defined mineral resource or reserve. Significant technical work ahead to establish extent, continuity and economic potential of the deposit. Focus on using data to guide next drilling programme and systematically evaluate opportunity.