Deccan Gold Mines Identifies Wide Corridor of Nickel, Copper, and PGE at Bhalukona Project
Deccan Gold Mines Ltd has announced significant assay results from its ongoing exploration at the Bhalukona Ni-Cu-PGE Project in Chhattisgarh. The latest findings confirm the existence of a substantial mineral corridor, suggesting considerable potential for critical mineral extraction.In previous correspondence, Deccan Gold had confirmed the presence of a layered mafic complex at its Bhalukona Ni-Cu-PGE Project, noting wide zones of disseminated sulphides and occasional heavy-massive sulphide lenses containing economic levels of nickel, copper, and palladium.
The company revealed that assay results from the three most recent drillholes pinpointed a continuous corridor. This corridor measures over 100 meters wide and extends along a strike length of 430 meters to depths exceeding 200 meters. The corridor was found to contain multiple zones of potentially economic nickel, copper, and palladium mineralisation, along with localized occurrences of platinum. Furthermore, the existing drilling program extends approximately 800 meters southwest of the currently assayed holes, indicating that the mineralised corridor is expected to continue along the entire area under testing.
Key Assay Highlights
The best assay results obtained from the latest three drillholes include:- BJD-02: Identified a section at 15m @ 0.15% Ni, 0.1% Cu, 0.33g/t Pd for 0.31% Ni_Eq from 32m. Another section measured 0.7m @ 0.57% Ni, 0.72% Cu, 0.84g/t Pd, achieving 1.29% Ni_Eq from 56.7m.
- BJD-03: Showed a notable result of 36m @ 0.11% Ni, 0.08% Cu, 0.23g/t Pd for 0.23% Ni_Eq from 215m.
- BJD-04: Reported 6m @ 0.16% Ni, 0.2% Cu, 0.25g/t Pd for 0.39% Ni_Eq from 29m.
To date, Deccan Gold has completed core drilling totaling about 1500 meters across 9 boreholes, covering a strike length of 1.3 kilometers.
Detailed Assay Logs
Detailed geological logs and assay results for the three key drillholes confirm the continuous nature of the mineralization:Table 1: Summary Geological Log and Assay results for BJD-02.
| From | To | Summary Litho-geochem Observations | Zone Average |
|---|---|---|---|
| 0 | 6 | Soil | N/A |
| 6 | 32 | Anorthositic Gabbro and Gabbro units. Predominantly unmineralized but contains thin lenses of sub-economic sulphide mineralisation. | N/A |
| 32 | 47 | Anothosite Gabbro / Gabbro contact with elevated Sulphur suggesting Ni & Cu is present as sulphides. Grades consistent with low% disseminated sulphides observed in core. Higher levels of Pd up to 0.64 g/t than observed in other holes. | 15m @0.15% Ni, 0.1% Cu, 0.33g/t Pd for 0.31% Ni_Eq |
| 47 | 57.4 | Lower section of above gabbro unit. Decrease in metal grades are consistent with low %of logged disseminated sulphides, however a 0.7m thick basal heavy sulphide unit contains high grades of Ni, Cu, and Pd. | 10.4m @0.11% Ni, 0.08% Cu, 0.15g/t Pd, for 0.2% Ni_Eq Including 0.7m @0.57% Ni, 0.72% Cu, 0.84g/t Pd, for 1.29% Ni_Eq from 56.7m. |
| 57.4 | 97.8 | Layered sequence of Anorthositic Gabbro and Gabro units. Any sulphides present are typically pyrite. | N/A |
| 97.8 | 110 | Mineralised Gabbro unit containing grades up to 0.55 g/t Pd. | 12.2m @0.11% Ni, 0.06% Cu, 0.32g/t Pd for 0.24% Ni_Eq |
| 110 | 116.35 | Unmineralized Anorthositic Gabbro. | N/A |
| 116.35 | 136.5 | Layered sequence of gabbro and anorthosite. Typically, low S, but sufficiently elevated in places to suggest some Ni and Cu are present as sulphides. Consistent with low %logged disseminated sulphides. Contains thin 1m zones of potential economic Pd upto 0.63g/t. | 20.15m @0.1% Ni, 0.03% Cu, 0.15g/t Pd, for 0.17% Ni_Eq |
Table 2: Summary Geological Log and Assay results for BJD-03.
| From | To | Summary Litho-geochem Observations | Zone Average |
|---|---|---|---|
| 0 | 11.65 | Soil and weathered gabbro | N/A |
| 11.65 | 215 | Layered sequence of Anorthositic Gabbro and Gabro units. Any sulphides present are typically pyrite. | N/A |
| 215 | 251 | Mineralised Gabbro unit containing grades up to 0.68 g/t Pd. Elevated S% suggests Ni and Cu are present as sulphides. | 36m @0.11% Ni, 0.08% Cu, 0.23g/t Pd for 0.23% Ni_Eq |
| 251 | 259 | Unmineralized Gabbro unit. | N/A |
| 269 | 278 | Sequence of Gabbro and Anorthosite units. | N/A |
Table 3: Summary Geological Log and Assay results for BJD-04.
| From | To | Summary Litho-geochem Observations | Zone Average |
|---|---|---|---|
| 0 | 15.3 | Soil and weathered Anorthositic Gabbro. | N/A |
| 15.3 | 29 | Gabbro. | N/A |
| 29 | 35 | Mineralised Gabbro unit. Elevated S% suggests Ni and Cu are present as sulphides. Cu grades up to 0.32%. | 6m @0.16% Ni, 0.2% Cu, 0.25g/t Pd for 0.39% Ni_Eq Including 1m @0.23% Ni, 0.32% Cu, 0.41g/t Pd for 0.56% Ni_Eq from 33m. |
| 35 | 43 | Gabbro. | N/A |
| 43 | 45 | Thin mineralised gabbro layer with high S%. | 2m @0.11% Ni, 0.13% Cu, 0.13g/t Pd for 0.23% Ni_Eq |
| 45 | 107.8 | Gabbro. | N/A |
| 107.8 | 131 | Anorthosite / Anorthositic Gabbro. | N/A |
Project Background and Strategic Outlook
Deccan Gold Mines Ltd operates the Bhalukona Nickel Block, a 30 sq. km area located in Basana Tehsil, Mahasamund District, Chhattisgarh State. The company was granted the Bhalukona-Jamnidih Composite Licence in favour of the company on April 1, 2025.Commenting on the encouraging results, Deccan Gold Managing Director, Dr Hanuma Prasad Modali, stated that the latest drilling results significantly strengthen confidence in the scale and continuity of the Bhalukona mineralised system.
"With mineralisation now confirmed across a growing strike length and the corridor remaining open, we are increasingly encouraged by the project's potential to emerge as a significant critical minerals asset," Modali said. "The growing focus by the Quad nations and the India-US critical minerals partnership highlights the strategic importance of developing reliable and diversified mineral supply chains, and we believe India is well positioned to play a larger role in this evolving landscape."
The company noted that it is accelerating exploration activities to define a mineable resource and progress toward mine lease applications. Low-impact exploration, including additional geophysical and soil sampling programmes, will continue during the monsoon period to identify further mineralised targets across the licence area.
Deccan Gold Mines Ltd remains one of the first and only gold and critical mineral resource companies listed on the Bombay Stock Exchange Limited (BSE). The company maintains a strategic portfolio of gold and critical mineral assets across India and internationally.
DECNGOLD Stock Price Movement
On Friday, Deccan Gold Mines Limited shares shed ₹6.21, falling 3.73% to settle at ₹162.28. The equity saw significant trading activity, handling a volume of 1.62 million shares throughout the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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