News ArticleDeccan Gold Mines Reveals Preliminary Modelling of Bhalukona Deposit Indicating Over 4 Million Tonnes Nickel-Equivalent Ore
Initial exploration covers 25% of 1.3 km corridor with more than 10,000 tonnes nickel-equivalent metal identified
Deccan Gold Mines Limited announces preliminary geological modelling of the Bhalukona Ni-Cu-PGE deposits in Chhattisgarh, suggesting over 4 million tonnes of potentially economic ore with around 0.24% nickel-equivalent grade, covering only 25% of the 1.3 km mineralised corridor. The modelling indicates more than 10,000 tonnes of nickel-equivalent metal and informs further exploration plans.
Deccan Gold Mines Limited
New Ventures
Deccan Gold Mines Limited reports that preliminary geological modelling of exploration drilling at its Bhalukona Ni-Cu-PGE deposit in Chhattisgarh suggests over 4 million tonnes of potentially economic ore containing around 0.24% nickel-equivalent grade.
The estimates from the preliminary modelling cover near surface mineralisation and only about 25% (300-350m) of the 1.3 km long mineralised corridor identified at Bhalukona, suggesting significant potential for further resource discovery.
The nickel-equivalent grade includes a weighted sum of nickel, copper, platinum, and palladium grades, resulting in more than 10,000 tonnes of nickel-equivalent metal within the modelled zone.
Exploration activities since April 2025 have included drone magnetic and LiDAR surveys, geophysical studies, geological mapping, geochemical sampling, bulk sampling for beneficiation, and a 15-hole diamond core drilling program totaling 2773 meters.
Drill results show a layered mafic-ultramafic intrusion with nickel-copper-PGE sulphide mineralisation from disseminated sulphides to heavy/massive sulphide lenses, extending over a corridor approximately 100 meters wide and 1.3 km long to depths over 200 meters.
These preliminary exploration-stage interpretations do not represent a defined mineral resource or reserve but provide strategic direction for continued evaluation and development efforts at Bhalukona.
Highlights
- Preliminary geological modelling estimates over 4 million tonnes of ore at approximately 0.24% nickel-equivalent grade at Bhalukona.
- The modelled volume covers only 25% of the identified 1.3 km mineralised corridor, indicating further exploration potential.
- More than 10,000 tonnes of nickel-equivalent metal indicated in the near surface geological model.
- Exploration since April 2025 has included drilling, geophysical surveys, and geochemical sampling across the 30 sq. km Bhalukona block.
- The deposit contains nickel, copper, palladium, and platinum mineralisation hosted within a layered mafic-ultramafic intrusion.
Key Data Snapshot
What happened
- Deccan Gold Mines completed preliminary modelling of its Bhalukona Ni-Cu-PGE deposit based on exploration drilling data.
- Modelling suggests over 4 million tonnes of potentially economic ore at around 0.24% nickel-equivalent grade.
- The deposit model accounts for only near surface mineralisation covering about 25% of the identified mineralised corridor.
- Modelling indicates more than 10,000 tonnes of nickel-equivalent metal within this zone.
Key details
- The Bhalukona deposit is located in Basana Tehsil, Mahasamund District, Chhattisgarh, India.
- The mineralisation includes nickel, copper, palladium, and platinum grades combined as nickel-equivalent.
- Exploration activities include drone magnetic and LiDAR surveys, geophysics, mapping, sampling, beneficiation studies, and diamond drilling.
- The deposit hosts sulphides mainly as pyrrhotite, pentlandite, and chalcopyrite minerals.
- Initial drilling identified mineralised zones up to 100 meters wide and extending over a 1.3 km corridor to depths exceeding 200 meters.
Background and context
- Deccan Gold Mines was among the first to receive a nickel licence in India with the Bhalukona-Jamnidih Composite Licence granted on April 1, 2025.
- The company aims to support India's strategic and critical mineral supply by exploring and developing domestic resources.
- The Bhalukona licence covers a 30 sq. km area with forestry approvals for exploration activities including drilling.
Next milestones
- Continued exploration to cover the remaining mineralised corridor beyond the initial 25% currently modelled.
- Further drilling and surveys to confirm resource extents and grade continuity.
- Evaluation of potential repetitions of the mineralised sequence suggested by geophysical surveys to the southeast.
Highlights
- Preliminary geological modelling estimates over 4 million tonnes of ore at approximately 0.24% nickel-equivalent grade at Bhalukona.
- The modelled volume covers only 25% of the identified 1.3 km mineralised corridor, indicating further exploration potential.
- More than 10,000 tonnes of nickel-equivalent metal indicated in the near surface geological model.
- Exploration since April 2025 has included drilling, geophysical surveys, and geochemical sampling across the 30 sq. km Bhalukona block.
- The deposit contains nickel, copper, palladium, and platinum mineralisation hosted within a layered mafic-ultramafic intrusion.
Disclosures
- SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
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