Deccan Gold reports potential of over 4 million tonnes of nickel-copper-PGE at Bhalukona

what happened

Deccan Gold Mines said on Sunday, November 1, that its Bhalukona project in Chhattisgarh state has potential for more than 4 million tonnes of nickel-copper-platinum group element mineralisation. Preliminary geological modelling points to an estimated grade of around 0.24% nickel equivalent. The information was reported by TradingView.

The estimate is based on exploration drilling and covers only near-surface mineralisation across 300 to 350 metres of the 1.3-km mineralised corridor. The current model accounts for about 25% of that corridor and leaves out possible repetitions of the mineralised sequence, which drone magnetic and induced polarisation surveys have indicated.

The company stresses that the figures are preliminary and do not amount to a defined mineral resource or reserve. More exploration and technical assessment will be needed to establish the scale and economic potential. Deccan Gold Mines shares closed at 160.25 rupees on the BSE, down 4.98%.

why it matters

For now this is exploration-stage information and does not change nickel or copper supply in the market. Investors will watch whether further work confirms the deposit's scale and how much it matters to India's critical-minerals programme.

market impact

Deccan Gold shares: the news concerns one company, so its effect on nickel and copper markets is limited.

tags

instruments