
Deccan Gold Mines Limited shared key updates on its operations, highlighting significant progress in its Jonnagiri and Altyn Tor gold projects. The company is gearing up for gold production in 2025 while also advancing lithium exploration activities through its Mozambique subsidiary.
Key Updates:
1. Jonnagiri Gold Project (India):
- Infrastructure Development:
- Water pipeline and power line installations are complete.
- Drilling Activities:
- Active drilling underway in the South and West Block of the mining lease to enhance gold resources.
- Environmental Clearance:
- A public consultation for the project’s processing plant is scheduled for February 18, 2025, a key milestone toward commencing gold production.
2. Altyn Tor Gold Project (Kyrgyzstan):
- Funding: Efforts are in progress to close the required funding for the project.
- Ramp-Up Activities:
- Workforce is focused on refurbishing the crushing and grinding circuit and constructing leaching tanks.
- Drilling Plans:
- Resource definition drilling to start by late February or early March, depending on weather conditions.
- Plans to test high-grade zones below the pit for potential underground mining.
3. Lithium Exploration in Mozambique:
- Geological Mapping:
- Workforce mobilized to key blocks to delineate lithium deposits.
- Small-Scale Mining:
- Operations are set to begin in February, with expanded workforce engagement.
- Sample Testing:
- First batch of samples will undergo mineralogical and metallurgical analysis in South Africa to guide plant design for lithium and tantalum production.
Management Commentary:
Dr. Hanuma Prasad Modali, Managing Director, expressed optimism about the company’s progress, stating:
“It gives me great pleasure to note that our efforts are coming to fruition to ensure Jonnagiri and Altyn Tor would be producing gold during 2025. This marks a significant milestone in positioning Deccan Gold Mines as a mid-tier gold producer from India.”
Deccan Gold Mines continues to make strides toward achieving its production targets while expanding its portfolio with lithium exploration. The company’s focused efforts in gold and critical minerals position it for long-term growth and value creation for stakeholders.
Disclaimer: This information is based on official updates provided by Deccan Gold Mines Limited and is intended for informational purposes only.