DeSoto Resources launches exploration efforts

DeSoto Resources (ASX:DES) has commenced a new exploration season in the Northern Territory. The company is concentrating on the Spectrum and Fenton Projects. This quarter, they conducted extensive geophysical surveys targeting copper, gold, and rare earth elements. The company spent $639k on exploration and retains a cash reserve of $4.7M.

Quarterly activities and outlook for DeSoto

In its quarterly activities report, DeSoto Resources (ASX:DES) highlighted its intense exploration efforts in the Northern Territory, focusing on the Spectrum and Fenton Projects. The company executed 13.5 km of 2D pole-dipole induced polarisation and 77 km of fixed loop electromagnetics surveys, which revealed potential copper-gold mineralization zones. A ground gravity survey further identified significant geological structures. DES submitted drilling applications and is working closely with the Northern Territory Government on new permitting processes. With a stable cash reserve of $4.7M, the company advances its strategic metal asset assessment, particularly manganese, and continues to evaluate new project opportunities.

Insights from DeSoto Resources' latest activities

DeSoto has made significant strides this quarter with our field exploration activities in the Northern Territory. Our focus on geophysical surveys has been pivotal in identifying promising mineralization targets. We are also navigating the new permitting processes in collaboration with the Northern Territory Government. Financially, we remain robust with a solid cash position, allowing us to continue our strategic assessments and project explorations.