NewsDeccan Gold Mines Discovers Significant Ni-Cu-PGE Mineralisation at Bhalukona, ChhattisgarhDeccan Gold Mines Discovers Significant Ni-Cu-PGE Mineralisation at Bhalukona, Chhattisgarh
Deccan Gold Mines Limited has announced significant nickel-copper-PGE mineralisation at its Bhalukona Composite Licence in Chhattisgarh, with maiden drilling confirming layered mafic intrusive complex hosting disseminated sulphides. The first drill hole, BJD-01, intersected nearly 30 metres of potentially economic sulphide mineralisation above 0.2% Ni_Eq, with a peak grade of 1.01% nickel, 0.29% copper, and 0.2 g/t palladium from 103.4 metres depth. The company has completed approximately 1,200 metres of core drilling across seven holes and plans to accelerate the programme to define a mineable resource.
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Deccan Gold Mines Limited , India's only listed gold and critical minerals mining company, has announced encouraging drilling results from its Bhalukona Nickel-Copper-PGE (Platinum Group Elements) Composite Licence in Chhattisgarh, marking a potentially significant development in India's critical minerals landscape. The maiden drilling campaign has confirmed the presence of a layered mafic intrusive complex hosting wide zones of disseminated sulphides along with occasional heavy and massive sulphide lenses containing nickel, copper, and palladium mineralisation.
Drilling Results
The first drill hole, BJD-01, intersected three mineralised gabbroic layers with a combined width exceeding 60 metres. The hole intersected nearly 30 metres of potentially economic sulphide mineralisation above 0.2% nickel equivalent (Ni_Eq), averaging approximately 0.4% Ni_Eq. The highest-grade intersection recorded was 2.6 metres grading 1.01% nickel, 0.29% copper, and 0.2 g/t palladium from 103.4 metres depth.
To date, the company has completed approximately 1,200 metres of core drilling across seven drill holes over a prospective mineralised strike zone extending nearly 1.3 kilometres. All drill holes have intersected varying widths of disseminated and heavy-massive sulphide mineralisation. Microscopic analysis has confirmed the presence of pentlandite (nickel sulphide), chalcopyrite (copper sulphide), and pyrrhotite sulphides, providing further geological validation of the discovery.
Assay Data
Assay results for the first hole have been received, while results for the remaining holes are pending. The table below summarises the geological log and assay results for BJD-01.
| From | To | Zone Average* |
|---|---|---|
| 42.0 | 57.6 | 15.65m @ 0.14% Ni, 0.13% Cu, 0.26g/t Pd, for 0.29% Ni_Eq |
| 59.5 | 66.5 | 7m @ 0.13% Ni, 0.07% Cu, 0g/t Pd for 0.26% Ni_Eq |
| 80.5 | 86.5 | 6m @ 0.09% Ni, 0.02% Cu, 0.15g/t Pd for 0.14% Ni_Eq |
| 100.7 | 107.0 | 6.3m @ 0.66% Ni, 0.24% Cu, 0.19g/t Pd for 0.86% Ni_Eq including 2.6m @ 1.01% Ni, 0.29% Cu, 0.2g/t Pd for 1.24% Ni_Eq from 103.4m |
| 107.0 | 130.5 | 23.5m @ 0.05% Ni, 0.04% Cu, 0.05g/t Pd for 0.09% Ni_Eq |
Note: Ni_Eq is calculated by weighting metal grades by their current market value. Prices used for the Ni_Eq calculation are US$20,000/t Ni, US$13,000/t Cu, and US$1,500/oz Pd.
Project Background
The Bhalukona-Jamnidi Composite Licence spans approximately 30 sq. km in Mahasamund District, Chhattisgarh, and was among the first Ni-Cu-PGE licences granted in India following the Government's push toward critical minerals exploration. The Government of Chhattisgarh executed the licence in favour of the company on 01 April 2025. Deccan Gold has acquired necessary forestry approvals for non-destructive exploration activities, including drilling. Geophysical surveys conducted by the company also indicate the possibility of repetition of mineralised zones across the licence area.
Management Commentary
Commenting on the results, Dr. Hanuma Prasad Modali, Managing Director, Deccan Gold Mines Limited, said: "The discovery of significant nickel-copper-PGE mineralisation at Bhalukona is an important milestone for Deccan Gold and a strong validation of the project's geological potential. Intersecting encouraging sulphide mineralisation in the very first phase of drilling reinforces our confidence in the asset and its strategic relevance for India's growing critical minerals ecosystem."
He further added: "We deeply appreciate the support of the Central and State Governments, local authorities, and communities as we advance exploration activities. Based on the encouraging results so far, we are accelerating the drilling programme to define a mineable resource and fast-track mining lease applications. Subject to continued drilling success, we are hopeful Bhalukona can evolve into India's first nickel-copper-PGE mine."
Future Plans
The company plans to accelerate the drilling programme to define a mineable resource and fast-track mining lease applications. Low-impact exploration activities, including additional geophysical and soil sampling programmes, will continue during the monsoon period to identify further mineralised targets across the licence area.
Historical Stock Returns for Deccan Gold Mines
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.60% | +15.98% | +12.35% | +12.35% | +12.35% | +12.35% |
How might the remaining six drill hole assay results impact Deccan Gold's resource estimation timeline and potential market valuation of the Bhalukona project?
Given India's heavy reliance on nickel and PGE imports, how could a commercially viable Bhalukona mine influence domestic battery manufacturing and EV supply chain strategies?
What regulatory and environmental hurdles could Deccan Gold face in converting the composite licence into a full mining lease, particularly given the forestry approvals already required for exploration?
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