Deccan Gold Mines Ltd commences work on Composite Licence over the Bhalukona-Jamnidih Nickel, Chromium and PGE Block in Chhattisgarh

Deccan Gold Mines Ltd (the "Company" or "Deccan Gold") remains the first and only strategic and critical mineral resource company listed on the Bombay Stock Exchange Limited (BSE).

Deccan Gold is privileged to be one of the very first companies to be granted a nickel licence in India. The execution of the Bhalukona nickel licence is an exciting and significant step in Deccan Gold's mission to make Atmanirbhar Bharat a reality, and secure supply of strategic and critical minerals for India and our ~40,000 Indian Shareholders.

Bhalukona-Jamnidih Ni, Cr and PGE Composite Licence

Deccan Gold received a work permit on April 9, 2025, which paved the way to begin exploration activities. We are pleased to inform Shareholders that the following activities are commencing.

- Composite License boundary demarcation by DGPS survey is in progress.

- Informed concerned Basna Tehsil, Gram Panchayat Sarpanchs and Village Heads about commencement of work. We will obtain prior consent from individual landowners in whose areas we will trench and drill, once we delineate mineralized zones by ground geophysical, geological, and geochemical work.

- Preparation of survey controls for drone magnetic geophysical surveys has commenced. The Company is confident that this technique, in conjunction with targeted mapping and surface sampling, will aid delineation of potential mineralization zones.

Deccan Gold Managing Director, Dr Hanuma Prasad Modali commented on progress: "Deccan Gold has previously demonstrated that excellent scientific practices are the key to exploration success. At Bhalukona, we are excited to be using the latest and most advanced geophysics to delineate potential mineralised zones.

We are grateful to the Sarpanchs for their early support of our Project and our geophysical consultants for mobilising their work crews so quickly.

The next steps, following the magnetic survey, will include more detailed geophysics over promising areas as well as geological mapping and soil geochemistry."

Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 126.61 as compared to the previous close of Rs. 130.15. The total number of shares traded during the day was 515377 in over 3243 trades.

The stock hit an intraday high of Rs. 132.70 and intraday low of 125.00. The net turnover during the day was Rs. 65682582.00.

Source : Equity Bulls

Keywords

DECCANGOLDMINES INE945F01025 Mining NickelLicence India