Highlights

  • DeSoto restarted exploration at the Timbakouna Gold Project in August 2026.
  • Its September Quarterly Report outlined a 485-hole, 10,000-metre auger programme.
  • Follow-up work included a 6,262-line-kilometre airborne geophysical survey.
  • A 2026 expansion announcement detailed additional auger drilling and sampling.
  • The company reported A$7.74 million in cash at 30 September 2026.

DeSoto Resources Limited explores for gold in Guinea’s Siguiri Basin and also holds mineral exploration interests in Australia’s Northern Territory. Its 2026 programme concentrated on gold target generation in Guinea, where fieldwork resumed in August and subsequent drilling and Geophysical surveys expanded the amount of information available for exploration planning. October announcements described activity at the Timbakouna Gold Project, while the September quarterly report outlined expenditure, cash holdings and the status of regional exploration. Results from sampling must still be assessed before any inference about an economic deposit can be made.

Timbakouna Auger Programme Broadens

DeSoto’s quarterly activities report released on 22 October 2026 said its 485-hole, 10,000-metre power auger programme at Timbakouna recommenced during August. The work targeted more than six kilometres of semi-continuous artisanal workings and areas with historical gold intercepts. Historical results provide a basis for geological targeting; they should not be represented as new 2026 assays or as proof of continuity between separate sites.

An October operational update also described expanded auger drilling at Timbakouna. At the Malikila prospect, initial activity comprised 87 holes for 887 metres, within an area measuring approximately 1.5 kilometres by one kilometre. Sampling was intended to investigate whether mineralisation extends beyond identified quartz veins into adjacent geological units. As of the announcement, samples had been submitted or prepared for laboratory testing, and new assay outcomes had not yet been disclosed for the programme.

Power auger drilling is designed to collect information from the weathered profile beneath surface cover. DeSoto’s geological model remains subject to interpretation as the company receives and evaluates laboratory data.

Regional Geophysics and Portfolio Coverage

The September 2026 quarterly report identified a 6,262-line-kilometre airborne magnetic and radiometric survey across Timbakouna and several other Siguiri prospects. Survey interpretation was underway to inform structural and geological targeting. This activity complements surface geochemistry by assisting exploration teams in recognising potentially relevant trends that may not be evident from isolated sampling results.

The company also reported 143 bulk-leach-extractable-gold stream sediment samples over drainage catchments exceeding 687 square kilometres in southwest Siguiri. Follow-up soil sampling was underway at selected priority areas.

DeSoto said it held approximately 1,300 square kilometres of prospective tenure across more than 22 authorisations and permits in the Siguiri Basin. A separate alliance vehicle had signed an agreement relating to a prospective package in the basin, with exploration activities to proceed under the alliance arrangements.

Quarterly Funding and Operational Constraints

DeSoto reported cash of A$7.74 million at 30 September 2026. Its quarterly activities statement recorded approximately A$1.056 million of exploration expenditure during the period, predominantly attributed to Guinea-related projects. These figures are reported cash and exploration-spending measures, rather than Revenue or Earnings from gold production.

Operational limitations remained relevant. The quarterly report said fieldwork had previously been paused during a government enforcement campaign concerning illegal mechanised artisanal mining, then restarted following engagement with authorities. Seasonal weather, access around artisanal workings, permitting and laboratory turnaround can affect drilling schedules and interpretation. DeSoto also indicated that no work was completed on its Northern Territory projects during the quarter, as activity focused on Guinea; it continued exploring potential transactions or joint ventures for those assets.

Key Insights

DeSoto’s 2026 disclosures describe a broader information-gathering programme rather than commercial gold production. Auger drilling, geochemical coverage and airborne surveys are being used to prioritise targets across Siguiri. The reported cash balance and drilling programme provide context for the scale of ongoing work, while the geological significance of new targets remains dependent on laboratory results and further technical assessment.