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Desert Metals begin exploration at Adzope Gold Project

4 July 2024 14:19
ASX:DM1

Desert Metals Limited (ASX:DM1), along with its joint venture partner African Resources SARL, has achieved a major milestone by obtaining the exploration permit PR0960 for the Adzope Gold Project in Côte d’Ivoire. The exploration licence covers an area of 228.56km2 and is valid for 12 years, renewable every 4 years.

Project background

The Adzope Gold Project, located 90km north-northeast of Abidjan, is situated in a geologically rich area within the Comoé Basin. This region is known to be favourable for gold mineralisation. The project has not previously been subjected to modern gold exploration techniques, making it a significant opportunity for Desert Metals.

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Figure 1: Adzope Gold project showing artisanal workings.

Desert Metals’ exploration team has already conducted reconnaissance visits to the Adzope site. These visits confirmed extensive and broad alluvial gold mineralisation over a 2.1km2 area. The team observed five artisanal mining pits exploiting oxidised gold mineralisation in quartz veins approximately 120m wide.

Management comments

Stephen Ross, Managing Director of Desert Metals, expressed his excitement about the project’s potential. “The granting of the Adzope license is a significant step forward in our plans to discover and develop multi-million-ounce gold deposits in Côte d’Ivoire.

“Desert Metals is excited to be planning our initial gold exploration activities at Adzope, as the project has never been subject to modern gold exploration. Extensive and broad alluvial gold mineralisation is evident across the entire permit area.

“There is a +2km long sequence of artisanal gold operations in the northeast of the licence and this provides an extensive and immediate target for exploration and drilling.”

Next steps

Desert Metals is well-funded to accelerate exploration activities at Adzope now that the exploration licence has been received. The exploration program, including channel sampling, soil sampling, auger and air core drilling, and reverse circulation (RC) drilling, is set to start in August 2024.

DM1’s Australian Security Exchange-listed share price is currently trading at $0.022 (2:00 pm UTC+ 8 hours)

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