Deccan Gold Mines Limited’s Wholly-Owned Subsidiary, DGTPL, Discovers Gold in Tanzania; Awaits Prospecting Licence for Lithium

Bengaluru/ New Delhi/ Dodoma, 19th March, 2024 Deccan Gold Tanzania Private Limited (“DGTPL”), a wholly-owned subsidiary of Deccan Gold Mines Limited (DGML), India’s only listed gold exploration and mining company (Scrip Code: DECNGOLD | 512068 | INE945F01025), has discovered gold in the PL block 11524 in the Nzega – Tabora Greenstone belt, Tanzania. Also, a Prospecting Licence (PL) for lithium and associated metals covering an area of 100.49 sq.km has been recommended in favour of Deccan Gold Tanzania Pvt. Ltd.and grant order is awaited.
Deccan Gold Tanzania Private Limited (“DGTPL”)discovers high grade quartz veins, up to a maximum of 8.52 g/t Gold grade in the PL block 11524 in the Nzega – Tabora Greenstone belt

Prospecting Licence (PL) for Lithium and associated metals covering an area of 100.49 sq.km has been recommended in favour of Deccan Gold Tanzania Pvt. Ltd.and grant order is awaited

“The discovery in the Nzega – Tabora Greenstone belt inTanzania, highlights our technical expertise in exploration and prospecting, across some of the most complex terrains globally. Our ongoing efforts to scale up our global assets complementsthe core business, and augments our operational strengths. The lithium discovery is a significant step towards our strategy to diversify into Critical Minerals”, said Mr. Hanuma Prasad Modali, Managing Director, Deccan Gold Mines Limited.

DGTPL has 4 Prospecting Licences (PL) for gold over the Nzega-Tabora Greenstone Belt and 1 PL for gold over the Geita-Sukumaland Greenstone Belt.  All these 5 PLs were granted during end-2021.

The Company recently applied for lithium PL that has been recommended for grant.  DGML as a part of its strategy to diversify into Critical Minerals, has carried significant amount of desktop studies on potential areas in Tanzania. Based on  these studies the company has identified a potential area of 100.49 sq.km, on which it has applied for Prospecting License (PL). The PL has already been recommended and grant order is awaited.

——————————

Leave a Reply

Your email address will not be published. Required fields are marked *

bollywood Latest News

Tishaa Kumar Passes Away: Family and Bollywood Mourn

Tishaa Kumar, daughter of T-Series co-owner Krishan Kumar, passed away on July 18, 2024, at the age of 20 after a prolonged battle with cancer. Her funeral was held in Mumbai, attended by several Bollywood celebrities including Riteish Deshmukh, Saiee Manjrekar, and Salman Khan’s bodyguard Shera, who came to pay their last respects. Funeral and […]

Read More
Biden Bows Out: Kamala Harris Endorsed for Presidential Race
Latest News Politics

Joe Biden Ends 2024 Bid, Endorses Kamala Harris for Presidential Race

US President Joe Biden offered his “full support and endorsement” for Vice-President Kamala Harris as the presidential nominee for the Democratic Party. US President Joe Biden endorsed Vice-President Kamala Harris as the Democratic Party’s presidential nominee after opting out of the race on Sunday, ending his re-election bid following a recent disastrous debate with Donald […]

Read More
Latest News

CrowdStrike Reveals Cause Behind Major Microsoft Windows Outage Affecting Global Industries

Introduction On July 19, 2024, the world witnessed an unprecedented IT outage that disrupted multiple sectors, including transport, finance, and healthcare. The cause? A sensor configuration update for Microsoft Windows systems went awry. Cybersecurity firm CrowdStrike has revealed details about the mishap, highlighting the far-reaching impact of the incident. The Incident The global IT outage […]

Read More