DeSoto Resources (ASX:DES) is considering joint venture and divestment opportunities for its Northern Territory assets after returning all assays from recent drilling at the Spectrum Project.
Managing Director Chris Swallow says the Spectrum Project has seen little modern-day exploration to date, with DeSoto focusing on testing priority geophysical and structural targets along the eastern and western flanks of the Fenton Shear Zone.
“Drilling intercepted some significant widths of sulphide zones however assay results only returned limited levels of anomalism in gold, copper, zinc, and total rare earths oxide (TREO),” Swallow says.
“The assays have not provided enough encouragement for the company to continue exploring the Fenton Shear Zone with the company looking for divestment or joint venture opportunities for its Northern Territory portfolio.”
Intercepts from drilling includes 6.42m @ 1.45% TREO from 399m, 2.74m @ 0.34 parts per million (ppm) gold from 400m, 2m @ 0.71ppm gold from 415m, 1.64m @ 0.44ppm from 206m, 1m @ 0.18 copper from 333m, and 2m @ 0.9% TREO from 333m.
DeSoto Resources is a gold explorer focused on developing its portfolio of projects in Guinea’s Singuiri Basin.
Write to Maddison Elliott at Mining.com.au
Images: DeSoto Resources
