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An update from Desert Minerals Ltd. ( (AU:DSM) ) is now available.
Desert Minerals has reported strong gold anomalism from a 379-sample UltraFine+ soil program at its Mt Monger Gold Project, with values up to 112 ppb outlining the Titan anomaly over roughly 500m by 300m and coinciding with surface quartz veining and a historical intercept of 2m at 3.8 g/t gold. A second anomaly, Orion, has also been identified, underscoring the effectiveness of UltraFine+ analysis in generating gold targets under cover.
The Mt Monger project hosts an existing JORC Inferred Mineral Resource of 16,400 ounces at the Providence Prospect, which remains open to the northwest and southwest and is supported by high-grade historical intercepts at nearby prospects Divine, Hoffmann and Samocynda. Desert Minerals plans drilling at Providence to test resource extensions and grow the gold inventory and, with $3.24 million in cash, is well funded to progress exploration at Mt Monger alongside its Scotty Lithium project, potentially strengthening its position in the gold exploration sector around Kalgoorlie.
More about Desert Minerals Ltd.
Desert Minerals Ltd. is an Australian exploration company focused on gold and lithium, with key assets including the Mt Monger Gold Project near Kalgoorlie and the Scotty Lithium Project. The company targets Archean orogenic gold mineralisation under cover and is currently advancing an initial JORC Inferred Mineral Resource at the Providence Prospect within Mt Monger.
Average Trading Volume: 141,603
Technical Sentiment Signal: Strong Buy
Learn more about DSM stock on TipRanks’ Stock Analysis page.