Deccan Exploration Services Pvt Ltd, a wholly owned subsidiary of Deccan Gold Mines Ltd, has got prospecting mining licence for gold.
The company has got licence over an area of four sq km in the Mangalagatti PL block located in the Dharwar district of Karnataka.
The Karnataka Government had issued a grant order on October 11 to this effect. The prospecting licence deed would be executed with the State Government after the completion of the procedural formalities, a company release to exchanges said.
The company release said an inferred resource of 1.5 million tonnes was estimated based on results of shallow RC drilling programme. So far a 19.7-line km of Induced Polarization (IP) Geophysical survey in the PL block to investigate the existence of possible mineralised zones in addition to those already explored.
The Deccan Exploration Services’ Mangalagatti PL block forms part of Dharwar-Shimoga Basin of Archaean Western Dharwar Craton in the State.
anil.u@thehindu.co.in