Deccan Gold Reports Major Expansion of Bhalukona Critical Minerals Discovery

Deccan Gold Reports Major Expansion of Bhalukona Critical Minerals Discovery​

Chhattisgarh/Bengaluru, June 1, 2026: Deccan Gold Mines Limited, India's listed gold and critical minerals mining company, announced significant expansion of its Bhalukona Nickel-Copper-PGE Project in Chhattisgarh. The latest drilling results confirm a broad corridor of potentially economic nickel, copper, and palladium mineralization, along with localized platinum occurrences, substantially enhancing the scale of the mineralized system first identified in May 2026.

The confirmed mineralization extends over a strike length of approximately 430 metres and to depths exceeding 200m. Crucially, the mineralized corridor was noted to remain open, with ongoing drilling indicating potential continuation across a much larger target zone extending up to 1.3 kilometres.

The findings build upon the Company's May 18 announcement regarding significant nickel-copper-PGE sulphide mineralization at Bhalukona, reinforcing the project's potential to become one of India's most significant critical minerals discoveries.

Key Findings from Latest Drilling​

The recent drilling program highlighted several key intercepts, confirming widespread sulphide mineralization containing nickel, copper, and platinum group elements (PGEs), including palladium and platinum. Earlier microscopic studies had also confirmed the presence of pentlandite, chalcopyrite, and pyrrhotite sulphides, all considered key indicators of a potentially significant nickel-copper sulphide system.

Major intersections reported include:


To date, the Company has completed approximately 1,500 metres of diamond drilling across nine drill holes spanning a strike length of roughly 1.3 kilometres, with assay results from additional holes still pending.

Strategic Importance and Way Forward​

The Bhalukona-Jamnidih Composite Licence is noted as one of the first critical minerals licenses granted in India, reflecting the government's strategic focus on accelerating domestic exploration of essential minerals for clean energy technologies, electric mobility, advanced manufacturing, and national resource security.

Dr. Hanuma Prasad Modali, Managing Director of Deccan Gold Mines Limited, commented on the development, stating that the latest results significantly strengthen the company's confidence in the scale and continuity of the Bhalukona mineralized system.

"The discovery comes at a pivotal time when critical minerals have become central to economic competitiveness, energy transition, and resource security worldwide," Dr. Modali noted. "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."

Based on the encouraging outcomes, the Company plans to accelerate exploration activities to define a mineable resource and progress toward mining lease applications. Dr. Modali added that Deccan Gold aims for Bhalukona to potentially evolve into India's first Nickel-Copper-PGE mine, contributing meaningfully to the country's critical minerals ambitions.

Low-impact exploration activities, including additional geophysical surveys, soil sampling, and target generation programmes, will continue during the monsoon period, while drilling is scheduled to resume aggressively post-monsoon.

About Deccan Gold Mines Ltd.​

Deccan Gold Mines Ltd. is one of India's first and only listed gold and critical minerals exploration and mining company. Established in 2003, the company has built a diversified portfolio of projects across India and overseas, with interests spanning Andhra Pradesh, Kyrgyzstan, Chhattisgarh, Spain, Mozambique, Finland, and Tanzania. Deccan Gold focuses on developing responsible, technology-led, and globally competitive mining assets, emphasizing community-upliftment, transparency, and long-term value creation for stakeholders.

DECNGOLD Stock Price Movement​

Deccan Gold Mines Limited shares slipped by 3.73% on Friday, settling at ₹162.28 after shedding ₹6.21 from the previous day's close. The equity traded on a robust volume of 1.62 million shares.