DeSoto Resources (ASX: $DES) geophysical assessment results

DeSoto Resources Limited (ASX: $DES) has reported the results of a regional geological assessment and geophysical plate modelling completed on its Spectrum Project 1 in the Northern Territory, Australia. The assessment has highlighted the multi-metal potential of the project, supported by untested geophysical targets and integrated structural assessment, indicating the presence of rare earth elements (REE) and base metal deposit. The company is preparing to commence ground geophysical surveys to define drill targets for the upcoming 2024 field season.

Managing Director Chris Swallow on geophysical results

The Company is methodically thinking and working its way through a complex structural system which has the potential to host a significant Rare Earth and/or Base Metal deposit. The Company is integrating its regional model with targeted geophysics and soil geochemistry to produce high-quality targets to be drill tested in the upcoming 2024 field season.

Exploration outlook and next steps

DeSoto Resources' geophysical assessment and regional geological analysis have revealed the potential for a significant rare earth and/or base metal deposit at the Spectrum Project. The company's next steps include completing due diligence, access agreements, and mine management plans, followed by the commencement of ground geophysical surveys and drilling. The intersection of known mineralisation, strong geophysical anomalies, and favorable structural settings suggests a complex base metal + REE-gold mineralised system, indicating promising prospects for the company's exploration efforts.