Shares of Deccan Gold Mines Ltd. hit an upper-circuit limit of 10% on Wednesday after its arm discovered gold and lithium reserves in Tanzania.
Deccan Gold Tanzania Pvt. has found high-grade quartz veins, up to a maximum of 8.52 g/t gold grade, in the PL block 11524 in the Nzega-Tabora Greenstone belt, according to an exchange filing.
A prospecting licence for lithium and associated metals, covering an area of 100.5 sq. km, has been recommended in favour of Deccan Gold Tanzania and grant order is awaited, it said.