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DeSoto Resources Limited (ASX:DES)

ALERT: Price-sensitive ASX Announcement for DES
Current share price for DES : $0.115 -0.005 (-4.17%)+
Announcement
Release
21 May 2026 8:52AM
Price at Release
$0.120
Full Release
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Summary
DeSoto Resources Limited (ASX:DES) announced further exploration results from its Timbakouna Project, located on the eastern margins of Guinea's Siguiri Basin. The regional soil sampling programs identified two priority areas, Area A and B, with coherent soil anomalies. Area A features an 800m-long anomaly near artisanal workings, and Area B contains two anomalies adjacent to artisanal sites. The company plans infill soil sampling and power auger drilling to penetrate lateritic cover. An airborne magnetics survey is scheduled to guide future drilling, and the company aims to convert Reconnaissance Authorisations into Exploration Permits to expand its operations, supported by a A$10m cash balance.
Key Points
  • Two priority areas, Area A and B, identified at Timbakouna.
  • Area A has an 800m-long soil anomaly near a large artisanal working.
  • Area B contains two coherent soil anomalies near artisanal sites.
  • Infill soil sampling completed, assays pending.
  • Airborne magnetics survey planned to guide drilling.
  • Company aims to convert Reconnaissance Authorisations into Exploration Permits.
  • Supported by A$10m cash balance for exploration expansion.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.