Deccan Gold Mines has reported encouraging drill results from its Logrosan Tungsten Project in Spain, confirming the presence of potentially economic tungsten and tin mineralisation. The findings from the Dehusa target indicate a robust mineralised system that could support future underground mining operations. This development strengthens the company’s international critical minerals portfolio as global demand for strategically important resources intensifies.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. Drilling at the Dehusa Tungsten-Tin target commenced in mid-March 2026. To date, seven drill holes (LDD013 to LDD019) have been completed, covering a total of 2,984 m. Drill hole LDD020 is currently in progress. Laboratory analytical results for holes LDD013, LDD015, LDD016, and LDD017 have confirmed high-grade tungsten mineralisation.

Key Drill Intersections

The highest assay results include 0.88% WO3 over 470 metres in hole LDD016 and 1.21% WO3 at 535 metres in hole LDD017. The widest intersection was recorded in LDD016, which intersected a zone of 7.5 m averaging 0.29% WO3. Significant intersections are detailed below:

What the Numbers Show

The consistent intersection of potentially economic tungsten or tungsten-tin mineralisation across every completed drill hole suggests a broad hydrothermal system rather than isolated veins. The presence of outcropping mineralisation, confirmed at depth, indicates that mineralisation may extend along the central axis of the S-shaped Dehusa anomaly for approximately 3 km. This continuity supports the potential for substantial tungsten resources within the wider mineralised envelope.

Drilling at other exploration targets within the Logrosan project, specifically Las Brujas and Logrosan North, is planned for October and November 2026. Full assay results for the current programme are expected by mid-September. Deccan Gold holds an option to acquire up to 95% stake in Logrosan Minera S.L., which controls the 37 km² Logrosan and 40 km² Maria projects in Spain.

Deccan Gold Mines Limited has entered into a Memorandum of Understanding (MoU) with the CSIR-Central Electrochemical Research Institute (CSIR-CECRI) to accelerate research in nickel extraction, lithium processing, and battery materials. Disclosed on July 28, 2026, under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the collaboration aims to strengthen India’s domestic supply chain for critical minerals by combining Deccan Gold’s resource assets with CSIR-CECRI’s scientific expertise.

Collaboration Framework

The MoU establishes a non-binding framework for joint scientific research and technology development. The partnership leverages CSIR-CECRI’s status as a premier constituent laboratory of the Council of Scientific and Industrial Research (CSIR), known for pioneering India’s first Lithium-Ion battery fabrication technology. The agreement is valid for an initial period of two years and will serve as a basis for executing specific project agreements as opportunities arise.

Key areas of cooperation include:

Strategic Significance

Dr. Hanuma Prasad Modali, Managing Director of Deccan Gold Mines Limited, emphasized that nations leading in scientific innovation and downstream value addition will shape future global supply chains. He stated that the collaboration brings together world-class research and responsible resource development to accelerate indigenous technologies and support India’s clean energy ambitions.

This move aligns with Deccan Gold’s broader strategy to transition beyond traditional mining into technology-led value addition. By internalizing complex metallurgical processes for nickel and lithium, the company aims to reduce reliance on external processing vendors. The partnership also complements a separate Strategic Alliance Agreement signed with XTerra Global Resources Private Limited, which focuses on broader cooperation in critical minerals and downstream value-addition opportunities globally.

What the Numbers Show

While no financial values were disclosed for these framework agreements, the strategic shift indicates a focus on high-margin, technology-intensive segments. The integration of scientific R&D with existing assets in Mozambique and India suggests an effort to capture more value within the domestic ecosystem, potentially improving long-term margin resilience against global commodity volatility.