Join our daily newsletter At The Bell to receive exclusive market insights
Desert Metals (ASX:DM1) on Tuesday reported a 17 metre drill hit grading at 7.5g/t gold which it says proves its project’s potential. Of likely interest to shareholders and investors is this reflects the company’s maiden drill run.
Focusing on a target area the company calls ‘King Kong,’ the result came from 262m downhole (at an angle) for a vertical depth of about 190m underground.
Nine holes were completed with a diamond tipped rig for 1,714m sniffing around in an area backed up by geophys data and surface level soil anomalies.
Desert on Tuesday reported all nine holes intercepted mineralised geology underground. Hoping to keep that success flowing, drillers will be back on-site with an identical rig set up in Q1 of CY25.
Other hits included 5m @ 23.1g/t gold, and, 13m @ 1.64g/t gold.
“The drilling results support our strong belief that the Adzope gold project hosts substantial gold mineralisation,” DM1 MD Stephen Ross said.
“Single reconnaissance holes were drilled next to artisanal pits mined for gold or on a coincidental geophysical and gold-in-soil anomaly, so for these holes to return thick and high-grade intercepts is extremely encouraging.
“We believe these results indicate the presence of significant high-grade gold mineralisation in the immediate area… this first-pass drilling has confirmed King Kong’s potential and provided us with strong signatures of where to drill next and where not to drill, so we look forward to the upcoming exploration programs in 2025.”
DM1 last traded at 2.7cps.
Join the discussion: See what HotCopper users are saying about Desert Metals and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
