DeSoto Resources has initiated exploration in Guinea’s Siguiri Basin, targeting key permits. The company is conducting sampling and environmental studies to support drilling activities, following positive historical drilling results. Aime Nganare leads exploration efforts, with a focus on resource expansion and acquisitions. The stock currently holds a sell rating amid a year-to-date performance of 33.33%.
DeSoto Resources Limited has started its on-ground exploration in Guinea’s Siguiri Basin, specifically targeting the Timbakouna, Dadjan, and Tole permits. The company is implementing soil and dump sampling programs to inform its initial drilling strategies while also conducting an environmental study to expedite the permitting process for drilling activities. Previous drilling at the Gbonko 2 permit has revealed promising gold mineralization, warranting further exploration in the area. DeSoto is actively pursuing the expansion of its mineral tenure and evaluating acquisition opportunities within the region, under the leadership of Aime Nganare, its newly appointed Africa Exploration Manager.
DeSoto Resources Ltd. is a key player in the mining sector, with a primary focus on exploring and developing mineral resources, particularly gold in the Siguiri Basin, Guinea. The company is currently focused on enhancing its project portfolio and advancing exploration activities to uncover additional gold resources in the area.
As of now, DeSoto Resources has experienced a year-to-date price performance of 33.33%, with an average trading volume of 206,819 shares. The technical sentiment consensus rating from analysts is currently rated as a ‘Sell.’ For comprehensive analysis and detailed analytics regarding DES stock, resources are available on TipRanks’ Stock Analysis page.
DeSoto Resources Limited is actively engaged in exploration in Guinea’s Siguiri Basin with promising initial results from historical drilling in the Gbonko 2 permit. The company’s strategic focus on environmental studies, soil sampling, and potential acquisitions underscores its commitment to expanding its presence in the mineral exploration sector. However, the current analyst consensus indicates a cautious outlook with a sell rating on DES stock.
Original Source: www.tipranks.com
