Deccan Gold mines for tungsten in strategic Spanish project

Deccan Gold Mines Limited plans to invest in an early-stage tungsten project in Spain, aiming for up to 75% ownership prior to production. The Logrosan project has shown encouraging tungsten mineralisation, including intersections of 3m @ 0.42% WO3 and 8m @ 0.32% WO3, alongside high-grade gold results such as 1m @ 96.2 g/t gold. The company anticipates converting discovered mineralisation to Mineral Resources within one to two years.

Spain is highlighted as a favourable mining destination due to its rich mineral endowment, supportive permitting, competitive operating costs, proximity to European markets, and absence of production-based royalties. Tungsten is a critical mineral for defence, aerospace, and electronics, with global supply concentrated in China. This strategic investment aligns with India's critical minerals strategy and leverages Deccan Gold's existing expertise in geological exploration.

The company also notes potential upside from associated gold and rare earth elements within the project area, as well as ongoing regional exploration. Logrosan's proximity to the Maria Gold Project further underscores the multi-commodity potential of the region, enhancing Deccan Gold's long-term focus on gold exploration alongside its emerging critical minerals strategy.