Exploration Risks Loom as DeSoto Targets Multi-Million-Ounce Deposits in Guinea

Strategic Expansion in a Proven Gold Province

DeSoto Resources Limited (ASX, DES) has taken a significant step forward in its West African gold exploration campaign with the granting of a new reconnaissance permit for the Syncerus Gold Project in Guinea’s Siguiri Basin. This addition boosts DeSoto’s ground holding in one of the continent’s most prospective yet underexplored gold regions to over 1,000 square kilometres, underscoring the company’s commitment to uncovering large-scale deposits.

The Siguiri Basin is renowned for hosting multi-million-ounce gold deposits, including the notable 5.5 million ounce Bankan discovery, a project linked to DeSoto’s Chairman Paul Roberts. The new Syncerus permit lies less than 5 kilometres from DeSoto’s existing Dabidiana Project, positioning the company to leverage synergies across its contiguous land package.

A Proven Exploration Framework

DeSoto’s exploration methodology is anchored in a mineral systems approach, developed by Chairman Roberts and Non-Executive Director Dr. Barry Murphy. This strategy focuses on identifying large-scale geological structures conducive to hosting deposits exceeding two million ounces of gold; a benchmark the company has set for exploration success in West Africa.

Initial reconnaissance work is set to begin immediately on both the Syncerus and Dabidiana permits, with environmental surveys already completed and submitted to Guinea’s Environmental Assessment Agency. The company has also been conducting systematic sampling programs, including Bulk Leach Extractable Gold (BLEG) stream sediment sampling and soil sampling across multiple prospects such as Dadjan, Tole, and others.

Encouraging Early Results and Next Steps

Recent exploration results from nearby permits have been promising, with notable gold intercepts reported at Dadjan and Tole. For instance, Dadjan yielded intervals such as 10 metres at 1.61 grams per tonne gold and 4 metres at 7.08 grams per tonne, while Tole returned an impressive 8 metres at 18 grams per tonne. These findings have prompted further trenching and power auger drilling to penetrate the lateritic cover and sample saprolite, a critical step in this regolith-dominated environment.

DeSoto’s systematic approach, proven by its success at Bankan, aims to refine target areas before committing to more costly Reverse Cycle or Diamond Drilling. This disciplined progression mitigates risk while maximizing the potential for discovering significant gold mineralisation.

Positioning for Growth Amidst Regional Potential

With the Syncerus permit now secured, DeSoto consolidates its position in a region ripe with exploration upside. The company’s expanding portfolio and methodical exploration program position it well to unlock value in Guinea’s Siguiri Basin, a jurisdiction increasingly recognised for its gold endowment. Investors will be watching closely as field activities ramp up and assay results begin to flow.