DeSoto Resources achieves drilling milestone

DeSoto Resources (ASX:DES) has successfully received its first drilling approvals under the new Northern Territory Environmental (Mining) Licence system. This approval allows drilling at the Fenton South Gold Project, providing the company with an opportunity to explore up to three reverse circulation pre-collared diamond holes. The company has faced delays due to the onset of the wet season, leading to an extension for completing the drilling in 2025.

DeSoto Resources' strategic exploration and future plans

DeSoto Resources has taken a significant step by becoming the first to receive drilling approvals under the Northern Territory's new licensing system. This positions the company as a leader in regional mining exploration. With a $160,000 co-funding from the RTT Round 17 grants, the Fenton South Gold Project is poised for significant exploration. The company is also revisiting previous drill core samples for Rare Earth Element potential, with results expected in December 2024. DeSoto's strategy involves using advanced geophysical surveys to enhance exploration targets like the Vesper anomaly for copper and the Quantum target for REE/Uranium. With drilling approvals anticipated soon, the company plans to commence exploration drilling in early 2025, indicating a strong momentum and growth potential in their exploration endeavors.

Insights from DeSoto Resources' leadership

The announcement is authorized by the Board of Directors, and further information is available through Managing Director Chris Swallow, ensuring transparency and stakeholder engagement.