Desert Metals Limited (ASX:DM1) reported exploration progress across its Côte d’Ivoire portfolio during the quarter ended 30 June 2026, highlighting developments at the Adzope and Tengrela South gold projects along with the Acquisition of additional exploration permits.

The company’s quarterly update, released on 30 July 2026, outlined results from soil sampling, stream sediment programs, aircore drilling and corporate activities. Exploration activities identified new gold anomalies at the Adzope permit, extended the Tiogo gold corridor at Tengrela South and expanded the company’s land position through the acquisition of Agboville gold-lithium permits.

During the period, Desert Metals continued advancing its exploration strategy focused on gold and critical mineral opportunities in Côte d’Ivoire, West Africa. The company’s activities remained centred on identifying drill targets and evaluating mineralisation across its portfolio.

Company Overview

Desert Metals Limited (ASX:DM1) is a gold exploration company focused on identifying and advancing mineral projects in Côte d’Ivoire.

The company holds interests in multiple exploration projects across the country, including the Adzope Gold Project and Tengrela South Gold Project. Desert Metals has earned interests in these projects through exploration agreements and continues to evaluate additional opportunities in gold and critical minerals. WC Secure

The company’s exploration approach combines geochemical surveys, geological interpretation, aircore drilling and target generation activities to identify areas with potential mineralisation.

Adzope Gold Project Exploration Update

A key focus during the June 2026 quarter was exploration at the Adzope permit in southern Côte d’Ivoire.

The company completed maiden soil sampling at the newly identified Nyan prospect, where 335 surface soil samples defined a coherent gold-in-soil anomaly extending more than 7 kilometres across the survey area. The anomaly remained open along strike in both directions.

The sampling program identified high-grade zones within the broader anomaly. Results included peak gold values of 6,036 parts per billion gold and another sample returning 3,626 parts per billion gold. A 165-metre-wide zone returned values exceeding 0.5 grams per tonne gold.

The Nyan prospect is located along strike from the company’s King Kong discovery within the same interpreted structural trend. The company identified the area as a priority target for further exploration activities.

Future work planned at Nyan includes additional infill soil sampling, ground geophysics and a maiden aircore drilling program designed to test the identified gold anomaly.

Regional Stream Sediment Program at Adzope

Desert Metals also completed regional stream sediment sampling across the Adzope permit area.

The program covered the 229-square-kilometre permit area and included 241 stream sediment samples. The results identified two coherent gold-in-stream anomalies, including a larger target area measuring approximately 5 kilometres by 1.5 kilometres.

The company integrated geochemical results with aeromagnetic data to identify structural trends that may represent additional exploration corridors.

The stream sediment results supported follow-up exploration activities, including soil sampling and target assessment across the permit area.

Tengrela South Gold Project Update

At the Tengrela South project in northern Côte d’Ivoire, Desert Metals reported additional exploration progress at the Tiogo gold prospect.

The company completed a follow-up aircore drilling program consisting of 40 holes for 2,032 metres across seven drill lines covering approximately 1.7 kilometres of strike length.

The drilling program extended the Tiogo gold corridor and confirmed gold mineralisation across the tested area. Reported intersections included:

  • 4 metres at 19.48 grams per tonne gold from 42 metres.
  • 12 metres at 3.81 grams per tonne gold from 34 metres, including 2 metres at 21.84 grams per tonne gold.
  • 4 metres at 8.70 grams per tonne gold from 18 metres, including 2 metres at 13.22 grams per tonne gold. The company stated that mineralisation remains open along strike to the north and south and extends into fresh bedrock, which has not yet been tested through deeper drilling.

Further exploration is planned, including additional drilling to evaluate the bedrock expression of the Tiogo gold system.

Tiogo North Target Identification

Desert Metals also identified a new exploration target at Tiogo North through soil sampling activities.

The soil sampling program covered six untested areas at Tengrela South and included 1,774 samples. The work defined a gold-in-soil anomaly extending approximately 1.8 kilometres north of the existing Tiogo drilling area.

The anomaly recorded a peak value of 617 parts per billion gold within a broader coherent footprint, supported by additional elevated results.

The company plans to conduct aircore drilling at Tiogo North to evaluate the oxide zone and assess continuity along the broader gold trend.

Agboville Gold-Lithium Permit Acquisition

During the quarter, Desert Metals completed the acquisition of 100% ownership of two Agboville permits in southeastern Côte d’Ivoire.

The permits cover approximately 598 square kilometres within the Birimian greenstone belt, a geological region associated with gold and lithium mineralisation.

The acquisition expanded Desert Metals’ exploration portfolio and provided exposure to both gold and lithium opportunities.

The transaction was completed through the issue of 18.125 million fully paid ordinary shares, with no cash consideration payable.

Industry Context

West Africa remains an active region for gold exploration due to its extensive greenstone belts and history of mineral production.

Exploration companies operating in the region typically focus on identifying geological structures, geochemical anomalies and mineralised zones before progressing towards drilling and resource evaluation.

For Desert Metals, the combination of soil sampling, stream sediment programs and aircore drilling is being used to refine exploration targets across its Côte d’Ivoire projects.

The company’s portfolio approach includes both gold exploration and critical mineral opportunities, reflecting broader industry interest in commodities linked to industrial and technological applications.

Risk and Uncertainties

Desert Metals remains exposed to risks associated with mineral exploration, including exploration results, funding requirements, regulatory approvals and Commodity market conditions.

Exploration results from soil sampling and aircore drilling require further evaluation through additional work programs before the scale and continuity of mineralisation can be determined.

The company’s future activities will depend on securing funding for planned exploration programs. During the quarter, Desert Metals stated that it was finalising plans to secure funding for the next phase of exploration.

Exploration activities in Côte d’Ivoire may also be affected by operational, permitting and geological factors.

Future Outlook

Desert Metals plans to continue advancing exploration activities across its Côte d’Ivoire portfolio.

The company’s upcoming activities include further drilling at priority gold targets, additional soil sampling and evaluation of newly acquired Agboville permits.

At Adzope, exploration will focus on testing the Nyan gold anomaly and evaluating additional targets generated through regional sampling. At Tengrela South, further drilling is planned to assess the Tiogo gold corridor and Tiogo North target.

The company will continue reviewing additional gold and critical mineral opportunities to complement its existing exploration portfolio.