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Desert Minerals Ltd (ASX:DSM)

ALERT: Price-sensitive ASX Announcement for DSM
Current share price for DSM : $0.720 0.02 (2.86%)+
Announcement
Release
25 Aug 2026 9:01AM
Price at Release
$0.700
Full Release
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Summary
Desert Minerals Ltd has announced a maiden JORC Mineral Resource Estimate at the Scotty Lithium Project in Nevada, USA, confirming a large-scale lithium clay deposit of 264.9 million tonnes at 1,006 ppm Lithium. The estimate consists of Indicated and Inferred categories, and an additional JORC Exploration Target has been defined northwest of the current resource. The project's potential is highlighted by significant intercepts like SC23-003, which indicates opportunities for resource expansion. Desert Minerals holds a substantial interest in the project, supported by a strong cash position to fund further advancements.
Key Points
  • The Scotty Lithium Project in Nevada, USA, has a JORC Mineral Resource Estimate of 264.9 million tonnes at 1,006 ppm Lithium.
  • The Mineral Resource is categorized into 139.8 million tonnes at 1,002 ppm Lithium (Indicated) and 125.1 million tonnes at 1,011 ppm Lithium (Inferred).
  • An additional JORC Exploration Target of 218 to 327 million tonnes grading 990 to 1,490 ppm Lithium has been identified northwest of the current Resource.
  • The best intercept, SC23-003, lies outside the current Mineral Resource boundary and is included in the Exploration Target.
  • Desert Minerals Limited holds a 51% interest in the Scotty Lithium Project, with a cash position of approximately $4.05 million for project advancement.
  • The project is located in a closed-basin, volcano-sedimentary lithium clay system with lithium-enriched smectite and illite clays.
  • The resource is reported above a 750 ppm Lithium cut-off, with no Measured Mineral Resource declared.
  • The Mineral Resource and Exploration Target are conceptual and require further exploration for potential upgrading.
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.