Deccan Gold Mines Limited has announced its strategic decision to invest in a tungsten project located in Spain, marking a significant expansion into critical minerals. The company plans to acquire up to a 75% stake in the Logrosan project, an early-stage exploration venture with encouraging mineralisation results.

Project Overview and Mineralisation Results

The Logrosan project is situated in a highly mineralised region of Spain, known for tungsten, tin, rare earth elements, and gold occurrences. Early exploration and limited drilling have yielded promising results:

The project shows substantial potential to convert discovered mineralisation to Mineral Resources within 1 to 2 years.

Strategic Advantages of Spanish Operations

Spain offers several compelling advantages as a mining destination:

• Rich mineral endowment in critical minerals
• Supportive permitting and ownership structure
• Competitive operating costs
• Proximity to European industrial markets
• Absence of production-based royalties

Tungsten's status as a globally recognised critical mineral is due to its strategic applications in defence, aerospace, high-temperature alloys, industrial cutting tools, and electronics. With China accounting for over 80% of worldwide production, non-Chinese sources are increasingly relevant.

Technical Expertise and Market Position

Deccan Gold Mines' technical experience in gold exploration, drilling, and resource evaluation is directly transferable to tungsten deposits. Dr. Hanuma Prasad Modali, Managing Director, emphasized the company's broader vision of expanding India's presence in strategically important minerals.

"Our evaluation of the Logrosan Tungsten Project reflects Deccan Gold's broader vision of expanding India's presence in strategically important minerals that power tomorrow's industries," stated Dr. Modali. "As India accelerates its critical minerals strategy, Deccan Gold is methodically exploring opportunities that strengthen our global footprint, reduce supply-chain vulnerabilities, and enable India to participate meaningfully in materials that are vital for advanced manufacturing, defence, and sustainability."

Additional Exploration Opportunities

The company noted potential upside in associated gold and rare earth element targets, along with ongoing regional exploration including the nearby Maria Gold Project. The Maria Gold Project, located within the broader Logrosan mineralised corridor, represents a prospective near-surface gold and antimony system.

Historical work and recent exploration have identified encouraging gold anomalies through stream sediment sampling and reconnaissance studies, suggesting potential for a structurally controlled mineralised trend across the Maria zone.

Deccan Gold Mines, the first and only gold and critical mineral resource company listed on the Bombay Stock Exchange Limited, has committed to updating shareholders on further developments regarding this strategic acquisition.

Deccan Gold Mines has announced the commencement of pre-commissioning trials at its Altyn Tor Gold Project in Kyrgyzstan, marking a pivotal moment in the company's operational timeline. This development represents a significant step forward as the mining company transitions from the construction phase to the operational readiness stage.

Project Milestone Achievement

The initiation of pre-commissioning trials demonstrates the company's progress in bringing its Kyrgyzstan-based gold project closer to commercial production. These trials are essential for testing and validating the operational systems and processes before full-scale production begins.

Strategic Positioning

The Altyn Tor Gold Project represents a key asset in Deccan Gold Mines' portfolio, with the current trials setting the stage for both immediate production goals and long-term expansion plans. The successful completion of these pre-commissioning activities will be crucial for the project's transition to full operational status.

Future Expansion Prospects

The commencement of these trials also establishes the groundwork for potential future expansion at the project site. The company's focus on systematic development through proper pre-commissioning procedures demonstrates a methodical approach to scaling operations in the region.

This operational milestone positions Deccan Gold Mines to advance its gold production capabilities while maintaining focus on sustainable development practices at its international mining operations.