Deccan Gold Mines Makes India's First Nickel-Copper-PGE Discovery; Share Price Rises

Deccan Gold Mines share price was trading on Tuesday, August 5, 2025. The surge in the share price came on the back of an exciting exploration update announced by the company, highlighting a significant mineral find in Chhattisgarh. 

Here is a detailed look at what was shared in the company’s press release.

India’s First Potential Nickel Copper PGE Discovery 

Deccan Gold Mines has revealed a promising development from its Bhalukona Nickel Project in Chhattisgarh. Early exploration efforts have uncovered a potentially mineralised zone, indicating the presence of nickel, copper, and platinum group elements (PGE).

• A 700 metre long zone has been identified through rock chip and soil sampling.
• Geological mapping points to a layered mafic ultramafic rock sequence, similar to known deposits like Nebo Babel in Australia and Ahmavara in Finland.
• Drone magnetic surveys suggest the possibility of further mineralisation below soil cover.
• A geophysical induced polarisation survey returned sulphide mineralisation signals reaching up to 300 metres below the surface.

The company intends to commence drilling in the primary target area post the local harvest season and will also initiate further soil sampling to assess continuity of the mineralised zones.

Statement From Deccan Gold Mines Managing Director

Dr Hanuma Prasad Modiali, Managing Director of Deccan Gold Mines, expressed pride in the discovery, noting it as a historic first for India. “This is a proud moment for India and for Deccan Gold Mines. For the first time in our country’s history, such a Nickel Copper Platinum Group sulphide mineralisation has been identified,” he said.

Details About The Bhalukona Project

The Bhalukona Jamnidih Composite Licence was awarded to Deccan Gold Mines on 1 April 2025. Located in Mahasamund District, Chhattisgarh, the 30 square kilometre block lies within accessible terrain, with required forestry approvals secured for non-destructive exploration activities including drilling.

Since receiving approvals, the company has undertaken:

• Geological mapping
• Rock chip sampling
• Drone-based magnetic surveys
• Induced polarisation geophysical analysis

All these steps have led to the identification of zones with high potential for Nickel, Copper PGE mineralisation.

Deccan Gold Mines Share Price Performance

As of 10:30 AM on August 5, 2025, Deccan Gold Mines share price was trading at ₹139.80, a 0.89% increase. 

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Conclusion 

This development marks a significant milestone in India’s exploration of critical minerals. Investors and industry watchers alike will be keenly observing the next steps.

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