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Deccan Gold Mines shine on commencing drilling programme at Ganajur

Deccan Gold Mines Ltd. | Mining & Minerals | Metals & Mining | BSE: 512068 | NSE: DECNGOLD

10 Jan 2014 Evaluate

Deccan Gold Mines is currently trading at Rs. 24.70, up by 2.10 points or 9.29% from its previous closing of Rs. 22.60 on the BSE.

The scrip opened at Rs. 23.50 and has touched a high and low of Rs. 26.00 and Rs. 23.50 respectively. So far 1, 08,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 26.80 on 03-Dec-2013 and a 52 week low of Rs. 13.50 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 24.50 and Rs. 21.10 respectively. The current market cap of the company is Rs. 145 crore.

The promoters holding in the company stood at 43.04% while Institutions and Non-Institutions held 3.07% and 53.88% respectively. Deccan Gold Mines (DGML) has commenced diamond core drilling in its Ganajur-Karajgi PL block. The Ganajur gold project is a lead project of Deccan Exploration Services (DESPL), a wholly-owned subsidiary of DGML. The Ganajur-Karajgi PL block comprises the highly rated Ganajur Main gold deposit and several satellite prospects such as Ganajur SE, Karajgi Main, Karajgi East, Ganajur South, Ganajur Central and Karajgi Hut prospects hosting gold mineralization in banded iron formations discovered by DESPL.

Previous drilling campaigns in the project, exceeding 6,000 meters of drilling have already demonstrated that the Ganajur-Karajgi PL block contains 308,000 Oz of gold up to a depth of 120 meters under ‘indicated’ category. Subsequent geophysical studies have suggested the possible extension of the Ganajur Main Ore body along strike and depth.

The present program of nearly 4000-5000 meters of diamond core drilling will cover Ganajur Main, its extensions and the surrounding satellite prospects and will include metallurgical and geo-technical drilling. DGML has engaged South West Pinnacle Exploration to undertake this exploratory drilling programme. The purpose of this drilling programme is to find additional resources in Ganajur Main Project and upgrade the Inferred and Indicated category of resources published earlier.

DGML has already entered into a Memorandum of Understanding with the Government of Karnataka to establish a gold mining industry in this project area. Mining Lease application in respect of the Ganajur Main project is under consideration at the Ministry of Mines, New Delhi

Deccan Gold Mines Share Price

120.73 2.98 (2.53%)

22-Apr-2026 14:40 View Price Chart

Peers

Company Name	CMP
Coal India	444.85
NMDC	88.49
GMDC	692.00
Sandur Manganese	213.70
MOIL	325.30
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Deccan Gold Mines shine on commencing drilling programme at Ganajur

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