Deccan Exploration discovers additional gold resources in Haveri district

The Hindu, 8 May 2012 :

Deccan Exploration Services Private Ltd (DESPL), a 100 per cent subsidiary of Deccan Gold Mines Ltd, has discovered additional gold resources at its main Ganajur project in Haveri, Karnataka.

GANAJUR-KARAJGI AREAS

The company, in a release to stock exchanges, said traces of additional gold resources have been found at Karajgi Main prospect, Ganajur Main deposit and at Ganajur south-east prospect.
All the mining areas are in and around Ganajur-Karajgi villages of Haveri district in the north-west part of the Karnataka.
“In addition to the three prospects, there are also a number of other satellite prospects which fall within the granted PL block.

TO CONTINUE DRILLING

“DGML will draw up a programme of continuing drilling in the satellite prospects which is very likely to add additional gold resources to the main project,” the company release said.

SIX LOCATIONS

DESPL recently completed a total of 1,262 m of core drilling in the Ganajur-Karajgi PL block spread over six locations which included three deep holes in the Ganajur main deposit; two holes at Karajgi main prospect and one in the Ganajur south-east prospects. The results of the survey at Karajgi main prospects has confirmed the existence of high-grade gold bearing zones in the prospect and also suggests the possibility of finding additional resources in the prospect subject to carrying out additional drilling.

Karajgi main is located one kilometre south-east of Ganajur main prospects and is rated by DGML as one of the most important prospects in the PL block.
Surveys at Ganajur main had indicated the possibility of extension of the Ganajur main deposit below the existing 3,08,000 ozs of gold.

DETAILED DRILLING

The drilling was successful in indicating the possibility of an extension.
Due to these encouraging results, DGML will take up a detailed drilling programme to define the gold bearing body that might exist below the currently known gold deposit.

Ganajur south-east prospect is located around 1.2 km south-east of Ganajur Main prospect.
Preliminary exploration by way of channel sampling, DTH drilling and 576 meters of RCD drilling has resulted in delineating a mineralised zone for a length of 455 meters.

Apart from this the recent geophysical IP survey has also indicated strong IP anomaly over this zone. The results indicate the possibility of increasing the over all resource in the PL block.