DeSoto Resources Limited provide new assay results from the Company's 100%-owned Fenix Copper-Gold-Lithium Project, located in the Northern Territory. Initial gold reconnaissance sampling comprising 81 samples was completed across the Fenix Project licences EL31356, EL31899 and EL32148 in 2022. The sampling and mapping program was designed to field validate existing datasets, confirm historical targets and conduct a regolith assessment to determine the amenability of the new project area for soil sampling.

Copperfield: The geology of the Copperfield area consists of prospective Paleoproterozoic sediments of the Burrell Creek Formation intruded by the Tabletop Granite where several NW-SE trending shears have been identified. A total of 35 reconnaissance rock samples were collected over an 8km2 area collectively known as Copperfield where numerous small historical copper-gold workings occur, particularly in the east of the area where up to 2.0g/t Au (CR1984-0255) and 0.32% Cu (CR1997-0022) have been reported in separate rock chips. In the west of the area numerous anomalous gold and copper results have been historically reported including a best gold rock chip of 3.54 g/t Au (Copperfield 4; CR1997-0022) and a 15.2% Cu rock chip in the central area (CR1997-0022).

Desoto collected a total of 13 rock samples (DSRK0040-52) from the eastern Copperfields area. These samples were taken along a 1-5m wide SW dipping shear with laminated and weakly brecciated ferruginous quartz veining that was mapped coincident with the historical workings. A total of three samples reported greater than 1% Cu with a best result of 6.5% Cu (DSRK0044) returned from a 10cm quartz-malachite-goethite vein adjacent to historical workings.

Reconnaissance mapping has extended the structure over a strike of 620m, to the tenement boundary in the north, and to the SE where it is concealed under thin (<20cm), unconsolidated pisolitic soils. In the western Copperfields area (Copperfield 4), a total of 8 rock samples (DSRK0059-66) were collected with best results including 4.11g/t Au (DSRK0066) and 1.68g/t Au (DSRK0064). Reconnaissance mapping of the area identified SW dipping veining throughout with individual veins mapped over strikes up to 300m.

Veins vary in size from centimetre scale up to 2m width with multiple styles observed including bucky opaque, gossanous breccia veins and extension veins. The new rock chips have extended the area of known mineralisation 860m NNW of historical gold rock chips. The aerial extent of parallel veining, coupled with grades of up to 3.45g/t Au observed in previous work is considered encouraging for the area, pointing to a mineralised fluid corridor of significant scale.